We live in incredible times where first principles and all that makes sense seem to play no role in asset valuation. The weirdest and most absurd idea always works without our having an explanation. But unlike fantasy, it doesn’t have to make perfect sense in reality. Meme coins derive their value from the simple fact that people like them. They don’t promise any function, acknowledging that they’re only there for their meme value.
You can argue against meme plays all day, or you can start to accept reality and make a profit. In the meantime, let’s take a look at the top 10 meme pieces that could skyrocket in price in 2023!
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What are meme coins?
Meme tokens, also known as meme coins, are tokens coined as a joke. Dogecoin, the first meme coin, was created in 2013 to parody Bitcoin. Some characteristics of these coins are their extremely high volatility rate and lack of utility. Although these same coins lack market efficiency, traders have regularly invested in the projects to increase their value and generate financial gain. Elon Musk, the CEO of Tesla, is a well-known example of this as he is a strong advocate for digital assets.
The top 10 meme coins that could explode in 2023
The majority of these same coins were created as a hoax, meaning they have little to no real-world applications. For example, the Mongoose coin was launched after a US congressman mentioned the name during a crypto hearing. After the GameStop incident in 2020, meme coins became the darling of the market. The group’s traders then turned to Dogecoin, boosting its value. However, some of these tokens have had a significant impact on the market. Let’s look at the top 10 coins that could perform well in 2023!
baby doge
Launched in June 2021, Baby Doge Coin (BABYDOGE) has a comprehensive roadmap that includes numerous animal welfare trials, NFT training, GameFi, and other initiatives. You thought Dogecoin was a joke? Wait until you see the relatively small Doge! The Baby Doge on Binance Smart Chain (BSC) is another adventure in cryptocurrency memification. When someone trades it on-chain, BABYDOGE forms a combustion mechanism as well as a governance framework that distributes the stake evenly among its owners, naturally allowing owners to earn profits.
Yooshi (YOOSHI)
YooShi runs on the Binance Smart Chain and contains more than just a token. The mysterious frog/lizard hybrid features a gamepad that game developers can fundraise on, a Yooshi Lab for creating new games, and the Play To Earn Guild Alliance for people to earn money playing games. games. The coin itself could do well in the coming weeks.
Shiba Inu (SHIB)
Shiba, another dog-themed meme and community token, poses as a DOGE killer. According to the official description, SHIB is a decentralized and spontaneous community building experience. SHIB tokens have a total supply of 1,000,000,000,000,000 (or one quadrillion). The project is named after a Japanese hunting dog. It runs on the Ethereum blockchain, has a larger market cap than many (very serious) projects, and ranks 15th overall.
Dogecoin (DOGE)
Dogecoin, the very first meme coin, was launched on its own blockchain in 2013. Since then, the dog-themed token has faced significant resistance. In 2021, it experienced phenomenal growth of over 20,000% in one year!
The first meme coin was Dogecoin. It was created as a parody of Bitcoin as well as a relatively unknown currency. Despite this, as more and more investors became interested in cryptocurrencies, the price rose and Dogecoin became popular. The confused Shiba Inu dog meme that serves as a symbol of Dogecoin played a big part in this.
Monacoin (MONA)
Monacoin is one of the earliest known meme pieces, launched in 2013 and was influenced by a Japanese ASCII art identity that resembles a cat. It is an open source money transfer system that uses peer-to-peer (P2P) exchanges. Monacoin’s block admission algorithm is based on Lyra2RE (v2) proof-of-work technology. Miners receive 25 tokens for every 90 blocks scanned. Block formation takes a minute and a half and the complexity of mining varies greatly for each block.
Tamadoge (TAMA)
Tama is a medium of exchange in the Tamadoge ecosystem that includes NFTs and play-to-earn game modes. Many people assume that the symbols on the official TamaDoge screen were inspired by Dogecoin. The game is developed on the Ethereum blockchain and is a peer-to-peer P2P framework. It is also one of the most recent meme pieces. Every user is invited to participate and win rewards. In order to actually participate, players must purchase NFTs with unique ID tags, along with other game assets.
Akita Inu (AKITA)
Another community project, Akita Inu, decided on the name of another breed of Japanese dog. AKITA tokens have different token metrics than Shiba Inu tokens, but both have linked liquidity and can be burned by transferring them to Ethereum wallets. It is a collaborative adventure influenced by DOGE, to whom he is credited as a big brother. The total supply of AKITA tokens is 100,000,000,000,000 (or 100 trillion), which is one tenth of the supply of SHIB tokens. You can buy it from Uniswap, Hotbit, Poloniex and other websites.
Kishu Inu (KISHU)
Kishu Inu is also named after the well-known Japanese dog breed. Each wallet receives a share of the token and a 2% fee. Its liquidity pool and community-focused tokens are burned, freezing liquidity. The symbol is KISHU and there are 100,000,000,000,000,000 (or 100 quadrillion) tokens available. The top ten portfolios control almost 14% of the supply.
Woofy (WOOFY)
A brilliant idea comes from the renowned team of yearn.finance. Woofy is a Shiba Inu-like dog-themed meme token whose price is pegged to the blue DeFi YFI chip. It is indexed bi-directionally to YFI and is redeemable at 1 YFI worth 1 million WOOFY. Unlike other dog-themed meme tokens, this one also has a limited use case as well as a framework for generating revenue.
Floki Inu
Floki Inu is undoubtedly one of the cryptocurrencies to watch in 2023. It is not as well known as Dogecoin or Shiba Inu. Despite this, it has the potential to stay in this extremely volatile bear market. The biggest feature of the token is that Floki Inu has always performed well since its inception. Floki Inu’s market cap reached $1.06 billion during the infamous December 2021 market correction. Floki Inu’s founders announced that there could be up to 10 trillion tokens at present , which is an incredibly large token supply. Currently, the purchase price for this coin is still extremely low.
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We currently have an exciting test offer for you! you can our Premium Membership Try it for €1/day for the first month. Consider giving it a try if you want to stay updated on the crypto market! You will receive trading ideas and professional trading support in the premium area. In addition, you will often receive information on the latest crypto trends at an early stage! So could our customers also buy various NFTs early enough. If you want to know more about our Premium trial offer, then Click here!
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