Digital coins have indeed gone quite a long way, as they are brimmed with huge potential. Millions of people in the world (47 million in the USA only) are investing in these coins to leverage benefits in their businesses. This is a great development in the reign of trade and commerce.
Know that Bitcoins, Ethereum, and Meme coins are the future, so invest in them. You can trade on them safely with the immediate edge as they are trading software that can assist you with Crypto trading. By the way, do you know about meme coins? They have been on the news for some time. The article discusses what they are and why they are worth investing in.
What Are Meme Coins?
Meme coins are a Cryptocurrency variant. They are highly speculative in nature. The meme coins are a popular digital currency that is depicted with comical images. They are supported by online communities.
The best thing about memes is that with this digital coin, you can make high profits within a short period of time. But at the same time, they have some risks involved with the investment. But notwithstanding this, investors are banking quite a lot on these coins.
Different Types Of Meme Coins
There are different types of meme coins, and they include Dogecoins, Shiba Inu, Dog Delon Mars, and others. Each of them is conceptually similar and has slight differences. We will try to know all of them here to better understand the coins.
1. Dogecoins (DOGE)
If you consider the meme coins, the Dogecoins are definitely the most popular coins of all. Moreover, they are one of the most popular Cryptocurrencies as they form themselves in the list of ten popular Cryptocurrencies in recent times.
Elon Musk embraces meme coins. However, they are highly volatile in nature because they have some very high caps. The market value of Dogecoins is around $8 billion.
2. Shiba Inu
The Shiba Inu is one of the most promising Cryptocurrencies or, you could say, meme coins. Ryoshi, an anonymous founder, founded them. But, unfortunately, it came with the objective of a dogecoin killer.
Shiba Inu is different from Dogecoins in some respect. But among the one, the use of the Ethereum network is most prominent. Shiba Inu does not have its own blockchain. It might be the reason Shiba Inu runs on smart contracts and decentralized applications on these coins.
Initially, the exchange price of the SHIB surged downward. But later on, they attained some really high growth of around 240%. But again, it fell to 55% of the present value. This makes the coins highly volatile and, at the same time, speculative and interesting for investment. This element has enabled healthy investment of the coins.
3. Dogelon Mars (ELON)
This meme coin is founded in the year 2021. They entered with an ambition to become a superior or “intergalactic Cryptocurrency.” It means they would be used even on Mars!
This is probably why Dogelon Mars claims to be an out-of-the-world project that can go beyond the periphery of the fraudsters. Like Shiba Inu, the Dogelon Mars is an Ethereum based token.
The working of the Shiba Inu inspires them, and therefore they can claim to have all the facilities that you have with the Shiba Inu. Let us put an interesting piece of information to end this one. Elon has a maximum total supply of 1,000,000,000,000,000 tokens.
4. Big Eye
Among the most notable meme coins, Big Eye is among the most notable ones. The ultimate intention of the coins is to surpass Dogecoin. The logo features a cute cat with widely drawn eyes. There is great potential with this new meme coin as they are in its pre-sale phase.
But quite interestingly, they have already raised over $3.5 million. So you could well understand the promise that it keeps. Therefore, you can invest in these new coins.
Are Meme Coins Worth Investing In?
Now the ultimate question that dangles before the new investor is whether to invest or not to invest. It can not be ignored that these coins are promising in nature; they indeed are! But at the same time, they are highly volatile, to say the least. For example, the Dogecoins fell to 91% of their price, and the Shiba Inu fell to around 81% in its value.
They are the highest fall these coins received. But notwithstanding this great fall, they have a high market capitalization of $8.5 billion and $ 6.5 billion, respectively. So that is indeed a great thing you have with these coins, you can say.
Are Meme Coins Safe?
The answer to this question can put you close to the topic of investment. These coins have huge potential. That is why they successfully invite investment. But at the same time, they are filled with risks and uncertainty of investment. So let us try to understand it closely.
There are hundreds of meme coins, some even on the verge of entering the markets. But the mains like Shiba Inu and Doge cons and the Baby dogecoins are highly volatile and have strong trading, as high as 1 million dollars a daily trading volume.
Therefore it can be well observed that there are high stakes that you have with these meme coins. But contrary to these positives, there are allegations that the meme coins are nothing but pump-and-dump schemes. Therefore, you could well say that the risk element is quite strong with these coins.
Advantages And Disadvantages Of Using Meme Coins
Everything in the world has its advantages. The same goes for the meme coins like Doge coins and Shiba Inu. So let us try to know them here to get an answer to the question.
Advantages Of The Meme Coins
There are certain reasons why you invest in meme coins. Let us try to know them right here so that you understand things better. Firstly they are a kind of fun asset, and you can get to know about Cryptocurrency and Blockchain technology.
They are indeed high-performance coins, and there is a possibility of earning profits when the value of the coins rises. Now that is quite common with those coins. Not only this, you have potential participation in active investing.
Disadvantages Of The Meme Coins
There are gray areas associated with these coins. Firstly, they have high volatility. They come with advanced technology that is generally complex in nature. Lastly, there is a big question mark with these coins. They face the acquisition of being a pump and dump scam.
So The Verdict On The Meme Coins !!
Discussing from the investor’s point of view, one can say that these coins are high potential in nature because you can earn high with them. But at the same time, you have to be aware because these coins are risky investments.
They are a volatile lot. Therefore, you can first invest in small amounts of these coins. Then, try to learn the ups and downs of the meme coins. The more you invest, the more you learn about them.
Therefore, regarding investment, it is a smart investment. But at the same time, you need to be vigilant regarding the investment.