The Top 5 Meme Tokens – Invest In These Fun Currencies

Meme tokens have become a term for many crypto fans that keep an eye on the crypto market. They brought in some exorbitantly high profits. Meme coins have no specific use or were developed to solve a problem. But as an object of speculation, they can bring good profits to risk-averse investors.

They were created just for fun but have made a market cap of billions of dollars. They have made their fan-based community rich overnight hence giving a reason to other followers to invest in these meme-based tokens. They do not have their own blockchain but are based on a decentralized finance system which makes them secure. Ethereum blockchain is one of the most utilized blockchains for creating meme tokens.

Here are the top 5 meme tokens in the market.

Dogecoin – The Famous Top Dog

Dogecoin has now also become famous outside of the crypto scene. The meme token with the Shiba Inu as its mascot attracted attention with an insane rally in the spring. Even Elon Musk recommended the dog coin and highlighted its advantages over Bitcoin.

Dogecoin has been at the forefront as a cryptocurrency for years. It was founded in 2013 to poke fun at bitcoin and other currencies. Through its use in Internet memes, Dogecoin coined the “meme coin”, so to speak. Dogecoin stands out due to extreme price fluctuations and is considered the most popular object of speculation. This puts him right at the front and the original among the top 5 meme coins.

Shiba Inu – The “Dogecoin Killer”

Unlike the Dogecoin, the Shiba Inu only really came into focus this year. As part of the Meme Token/ Dogecoin hype, it suddenly appeared in the top 20 cryptocurrencies with an insane price jump.

The Shiba Inu was founded as a so-called “Dogecoin Killer” . It is, so to speak, a parody of the Bitcoin parody. Nevertheless, an entire ecosystem with a decentralized exchange and a community platform was built around the Shiba Inu. The token also has the Shiba Inu as a mascot, which probably increased the value due to the recognition value.

Safemoon – Caution Required With The New Defi Token

Founded in March 2021, Safemoon has built a community of over 2 million users in just a few months. Safemoon is a DeFi token based on the Binance Smart chain. Safemoon distributes rewards for token buyers and thus builds a certain attractiveness.

However, caution is also required with the Safemoon project. Traders have to pay a 10% fee when selling the tokens, of which only 5% goes to the token holders. This makes Safemoon a so-called Ponzi Scheme, which above all makes the founder rich. Still, traders can make profits with Safemoon. However, caution is required when investing.

Hoge Finance – The Defi Brother Of Dogecoin

Hoge Finance is a DeFi project built on the Ethereum blockchain. He combines yield farming with the world of memes. So Hoge is something like Dogecoin’s “DeFi brother”. HOGE as a token is inherently deflationary as its numbers will increase in the future.

Monacoin – Internet Memes With Real Use

Monacoin is a slight deviator among the top 5 meme coins as it had some uses. Established in 2013 as the first Japanese digital asset, monacoin is used as a means of payment in some physical and online stores in Japan.

Read More About: What is MEME?

Conclusion

In 2021, meme tokens have made a huge name for themselves in the crypto market. The most famous meme coins like Shiba Inu and Dogecoin have opened the way for other fun cryptocurrencies to make ripples in the market of digital currency. The Internet is full of memes and when it is endorsed by a celebrity then it immediately goes viral and makes a strong base for introducing meme base coins that are known as meme token.