The rise of Dogecoin and Shiba Inu at the beginning of 2021 has spotlighted meme coins. Now people are looking for trends and hunting for the meme coin that will potentially turn them into a millionaire. However, before investing in meme coins, you should be aware that high reward also comes with high risk. Meme coins often do not have strong fundamentals, which means it is susceptible to rug-pulling, and you can very easily lose all of your investment. If you are willing to take this risk, let us introduce you to the top 5 meme coins you should buy today!
Dogelon Mars (ELON)
Elon Musk and Doge are an iconic duo. And ELON is the combination of this. This coin does not have many fundamentals and is built upon the trust and hype people have for Elon Musk, his love for Doge, and his desire to conquer Mars.
Chart 1. Dogelon Mars Token
This coin has the potential to rise exponentially because Elon Musk’s stocks have been on the rise. He has been all over the news for trying to acquire Twitter and give more space for free speech. This is what the people want. If and when this deal goes through, expect ELON (the coin) to skyrocket.
Not only that, there is potential for another significant spike in prices if and when Elon’s companies finally reach Mars. Although ELON supply is too high for a token to have a high price, you can easily triple or quadruple your investment if you start investing now!
DogeCoin (DOGE)
DogeCoin is the King of the Memecoin kingdom and has always had the potential to reach $1. At the moment of writing a doge, the token is worth $0.08. This means you can potentially 10x your investment in the next ten years if you invest into dogecoin right now.
Chart 2. Dogecoin Token
Although Doge is fundamentally a meme coin, it has been around long enough and has enough backing from investors and creators for it to be reliable. Dogecoin will always stand for the power that a collective group of people has, and for this reason, it is a very solid investment to make. Furthermore, there are very successful and influential people (including Elon Musk) who own a large amount of Dogecoin.
Shiba Inu (SHIB)
SHIB started off as purely a knock-off to Dogecoin. With the nickname “doge-killer,” Shiba Inu starts out trying to depose Doge at the top of the Memecoin category. Shiba’s initial strategy was to foster a sense of community among the users. Although this is still relevant, they have followed a more traditional route with cryptocurrency by trying to build some fundamentals into the coin.
Chart 3. SHIB Token
SHIB exchange was the first idea for a use case of the coin. Lately, with the rise of the metaverse, SHIB is also looking to capitalize on this opportunity. The opportunity and potential are very high for this project, and it is definitely something to look out for. SHIB’s current price is $0.000011. You can be looking at tripling your investment in a short amount of time if SHIB’s project in the metaverse turns out to be a success.
DogeDash (DOGEDASH)
DogeDash is a simple play-to-earn game. It combines a lot of elements that are popular in the crypto space today. Gaming, memes, and metaverse. Although it is relatively new, the price per token is higher than SHIB at $0.0001.
Chart 4. DogeDash Token
This is a project that is built on the Binance Smart Chain (BSC). It aims to bring back nostalgia and create a fun gaming environment whilst simultaneously earning money. This is a project that has a lot of potentials; however, it is in a field where there is heavy competition.
SafeMoon (SFM)
Sometimes the name suggests a lot about the coin and attracts a lot of investors. In a time where crypto is volatile, users are trying to find a safe way to earn a lot of money. Here comes SafeMoon. The name suggests that the coin will still ‘go to the moon,’ but it is a safe investment. It encourages long-term HODLing with a 10% transaction fee.
Chart 5. Safemoon Token
A few projects are currently in the works, such as a Safemoon wallet or an NFT. However, ideas are not clear at the moment because Safemoon is trying to keep up with whatever is in trend. It is a coin with a lot of potential due to a very loyal group of investors but invested with caution as it does not have a very clear direction of development.
Final words
Meme coins are a rollercoaster of emotions. They are fun, but they are scary. There is potential for very high rewards, but things could go wrong very quickly. Make sure to do your research, invest what you can afford to lose, and may the odds be forever in your favor!
