Since Dogecoin appeared in 2013, memecoins have taken the world by storm. DOGE was the first and is still the most well-known. However, thousands of different cryptocurrencies are now available, with new ones appearing all the time.
While some of these currencies are not yet famous, others have become highly popular. This article will examine some of the most popular memecoins in 2022 and explore what makes them so popular.
Dogecoin (DOGE)
An article about memecoins would not be complete without mentioning Dogecoin (DOGE). If you haven’t heard, Dogecoin is a cryptocurrency that started as a joke in 2013. The coin’s logo is a Shiba Inu dog, popularized by the “Doge” meme.
Even though it began as a joke, Dogecoin has grown to become one of the most popular memecoins. It is currently the largest memecoin by market cap.
Dogecoin has a few key features that make it unique. First, there is no limit to the number of Dogecoins that can exist. This is different, for example, from Bitcoin, which has a 21 million coin limit. Second, Dogecoin has a faster block time than Bitcoin. This means that transactions are confirmed more quickly on the Dogecoin network.
Dogecoin is a popular choice for tipping or giving donations on the internet. For example, if you see a funny post on Reddit, you may tip the author a few Dogecoins. Dogecoin is also popular on social media platforms like Twitter. Most likely, this fame largely depends on the way celebrities such as Elon Musk frequently mention it.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is another trendy project in the memecoin market niche. SHIB entered the market as “the doge-killer” in August 2020 and has been growing in popularity.
SHIB is available on major exchanges such as Robinhood and Kraken. Investors can use it to purchase goods and services on various platforms, including Amazon, eBay, and Walmart. The Shiba Inu project partnered with The Third Floor to create a virtual world called the Shiba Metaverse.
As time goes by, it is clear that SHIB’s ecosystem is growing, going beyond the mere issuance of its cryptocurrency. Think, for example, of the many use cases that the Shiba Metaverse offers.
For instance, in the virtual world, users can use SHIB coins to “mint” land. This is just an example of something that could have real-world value if the project grows in popularity.
All in all, Shiba Inu (SHIB) is a memecoin project with high potential. Therefore, many expect it is worth keeping an eye on this team in the coming years.
Volt Inu (VOLT)
The first token we should mention is Volt Inu (VOLT). VOLT is a hyper-deflationary token aiming to invest in multiple asset classes. Among these, the team mentioned NFTs, nodes, altcoins, staking & farming of stablecoins.
Diversification is critical in investing, and VOLT does a great job of spreading its assets across different areas. The benefit of differentiation is that if one investment doesn’t perform well, the others might make up for it. In other words, your portfolio as a whole is more stable.
Another great feature of VOLT is its aggressive token-burning mechanism. For those unfamiliar with the practice, burning tokens essentially means destroying them so no one can ever use them again. This reduces the supply of the token, which in turn can drive up its price.
VOLT burns tokens automatically whenever a transaction occurs, meaning that the supply of VOLT will continue to dwindle over time. This makes it an excellent long-term investment for those looking to buy and hold a token for the future.
Dogelon Mars (ELON)
Speaking of Elon Musk, most readers will surely have heard of a token named Dogelon Mars (ELON). This relatively new project has only recently hit the market, but it has already managed to make quite a splash. The main reason for this is its close association with the now world-famous Tesla CEO.
Like Dogecoin (DOGE), Dogelon Mars came to life as a parody cryptocurrency. It leverages the famous “Doge” meme that features a Shiba Inu dog. However, unlike DOGE, which first appeared as a joke, Dogelon Mars has a serious purpose.
The developers of Dogelon Mars (ELON) wish to create a “memecoin” that anyone can use for everyday transactions. In other words, they want ELON to become a mainstream cryptocurrency that people can use to buy goods and services.
Floki Inu (FLOKI)
Floki Inu (FLOKI) is another memecoin project that deserves a place in this article. After all, it was one of the best-performing assets of 2021. FLOKI is a project running on Ethereum and Binance. Its launch became an instant hit because of its extremely low price per token – $0.0000041.
At the end of July 2021, the price of FLOKI increased rapidly, reaching $0.000004458 on July 30th (an increase of almost 100% in just two days).
However, the volatility continued, and by August 2021, the price had decreased to $0.00001304.
September 2021 was a month of a significant bull run for FLOKI. The price increased constantly and reached $0.0003437 by November 2021 (an increase of more than 10,000% in just two months).
However, since the beginning of 2022, the price has been going down massively. Still, FLOKI remains one of the most popular memecoins out there. It is undoubtedly one to watch in the months and years ahead.
A Sector Reflecting the Meme Culture
There are several reasons behind the massive success of memecoins in the modern financial markets. The meme culture has become extremely popular recently, with social media platforms like Reddit and 4chan helping to propagate it.
Memecoins have become a way for people to invest in the meme culture, with many becoming extremely popular and valuable.
The most popular memecoins in the following years will be those that can reflect the current meme culture. This reflection must happen in a way that is both accurate and appealing to investors while also continuously bringing them new utilities and developments.
Last, we should mention the market’s preference for memecoins with good use cases. We have seen this with VOLT and SHIB, and it is likely to continue in the future.
Key Takeaways – A Promising Future Ahead?
There is no doubt that the memecoin sector has become extremely popular in recent years. This is thanks to the rise of the meme culture and the increasing value of these assets.
The most popular memecoins have good use cases and accurate reflections of the current meme culture. In the next years, we can expect more memecoins to enter the market and potentially become extremely valuable.
