We all love memes, don’t we? But what if your favorite memes became a currency for online transactions? Well, blockchain technology has made this a reality. The meme coins frenzy started as a joke when two software engineers created a meme coin in 2013 to ‘dethrone’ bitcoin. Voila! Their invention, Dogecoin, became a massive success with more than a million visitors in the first month itself.
Dogecoin is the forerunner of meme coins and has rightfully earned a respectable position in the crypto domain. It is the 6th coin on CoinMarketCap, with a price of $0.23 at the time of writing. However, this didn’t happen on its own. Elon Musk had a significant role to play in promoting Dogecoin. So much so that his space company is now accepting payments in Dogecoin for its DOGE-1 Moon Mission.
The excitement is understandable, but hold on for a second. Are meme coins safe? Mostly, they are not and usually represent pump-and-dump schemes with very high risk. You shouldn’t consider them as investment options because they are unregulated and volatile. In fact, meme coins and scam coins are often synonymous. Most of these projects have anonymous teams with no clear roadmap.
Nevertheless, some meme coins are doing exceptionally well in 2021, and the total market cap of meme coins has now reached $35,090,636,885. Here’s a list for you!
The Top Meme Coins
Shiba Inu
The $SHIB meme coin is an ERC-20 token developed to counter the popularity of DogeCoin. This fun token is an experiment in building a decentralized virtual community. In a bid to commit for the long term, they have locked 50% of the total supply to Uniswap, and the remaining 50% was burned. Thus, the only way to get $SHIB is to buy it in a fair, open market.
- Total Coin Supply- 1,000,000,000,000,000
- Current Price- $0.000009
- Position on CoinMarketCap- #31
- Team- Anonymous
Akita Inu
The $AKITA meme coin is almost the same as Shiba Inu, but only with different token metrics. Just like Shiba Inu, they have drawn inspiration from Elon Musk’s promotion of Dogecoin. This community-driven project has also shown commitment by locking 50% tokens to Uniswap and burning the rest to Vitalik Buterin.
- Total Coin Supply- 100,000,000,000,000
- Current Price- $0.000001012
- Position on CoinMarketCap- #2557
- Team- Anonymous
SafeMoon
The $SAFEMOON meme coin is a community-based project with a market cap of $2,099,609,035.30. Every time the token is traded, it automatically translates into liquidity generation, with token holders earning passive rewards. Additionally, a transparent team of developers, who burned their tokens effectively, means they are in for the long haul.
- Total Coin Supply- 1,000,000,000,000,000
- Current Price- $0.000003506
- Position on CoinMarketCap- #204
- Team- Non-Anonymous
MonaCoin
The $MONA meme coin claims to be the first Japanese cryptocurrency based on Mona’s character. This community-oriented distributed payment system has diversified its use cases. Users can tip fellow players using the token during online Japanese word games and have developed web-based services that run on $MONA.
- Total Coin Supply- 65,729,675
- Current Price- $1.36
- Position on CoinMarketCap- #264
- Team- Anonymous
Cum Rocket
The $CUMMIES meme coin is the native token for the NSFW NFT Marketplace, Cum Rocket. This token can be used to anonymously purchase 18+ adult content, tipping, and messaging content creators. Elon Musk has endorsed the platform on two occasions, which led to a 352% surge in its token price. It went to an all-time high of $0.2888 before stabilizing.
- Total Coin Supply- 1,350,230,643
- Current Price- $0.03722
- Position on CoinMarketCap- #333
- Team- Non-Anonymous
HOGE Finance
The $HOGE meme coin is deflationary crypto with an in-built infrastructure to increase scarcity over time. With every transaction, 2% of coins will be permanently removed from circulation through burning. Not only will this incentivize the token usage but also drive up its price. You can buy $HOGE on exchanges like Uniswap, 1inch, Bilaxy, etc.
- Total Coin Supply- 408,075,243,224
- Current Price- $0.000141
- Position on CoinMarketCap- #414
- Team- Non-Anonymous
Reiterating a Word of Caution
Meme coins aren’t a safe investment option—always remember this. Considering the extremely high risk, the Securities and Exchange Commission (SEC) has issued a warning, saying, “It is never a good idea to make an investment decision just because someone famous says a product or service is a good investment.”
So, to conclude, don’t let the Musks sway you. Educate yourself and do your research before investing. To this end, Airdrop Alerts brings you the latest updates from the crypto industry, alongside education material to enable informed decision-making. Follow us, and maximize your returns safely.
