Meme Coins 2021 – Memes worthy of the moon and stars
Cryptocurrency has become a pretty popular market since the launch of bitcoin, but a lot of the market for crypto’s conversation is dominated by meme coins. There are loads of projects and tokens out there with great fundamentals and a good backing for their value from use cases.
However, for every decent coin there is one with a meme-worthy name hoping to become the next meme coin. The meme coin list is now huge. This has led to some confusion between the meme coin meaning and the meaning of normal smaller cap coins. Some people seem to think that all small caps are meme coins, or that these are memes and not currencies at all. This is what you need to know:
Meme Coin Meaning
Meme Coins are a pretty broad group of tokens, but they do share a few things in common for a general meme coin meaning. Largely, these coins derive their value from their very existence or from a meme. They take the approach to humor and the spread of ideas from a meme and apply it to a crypto token. So, the tokens grow in popularity and therefore value based purely on their potential as coins. However, these are actually tokens that you can purchase not just memes. Meme coins aren’t the type of crypto you’ll get in a reward from crypto mobile games, but they are becoming some of the most popular tokens in some cases.
For most smaller cap coins, investors chose whether to buy them or not based on their potential for future growth, use, and general fundamentals. Here, it is essentially a gamble. Things are sometimes more complicated, but for meme coins explained you can usually say there isn’t a major use. These are cheap coins with no real use cases that are bought up en mass in the hopes of getting in early on the next big meme coin. Sheerly existing as a meme is often enough to send it skyrocketing in value. These are specifically cryptocurrency coins that are designed to be part of a meme, rather than to serve as a specific use case.
Meme Coins and Crypto Memes
These coins are not the same as more general crypto memes. Crypto memes are just memes shared on the subject of crypto, for those interested in crypto to enjoy. A meme coin is an entire token that gets its central idea and popularity from a meme.
A good example of why these coins can become valuable looking through a meme coins list is Dogecoin. Doge coin mints far more new coins than is considered normal for a stable currency. The supply of Doge is tied up in a few large wallets which make huge rug pulls a real threat and common occurrences. It was also created purely as a joke with no use case. Yet, in terms of mainstream use as a currency Doge stands out apart from more mainstream alt-coins. While it lacks a use case, its popularity as a meme coin gives it one. Compared to meme coins on binance, Doge is accepted and used pretty widely despite being only a meme.
Meme Coins List
Meme coins are difficult to predict and identify. The label isn’t usually a positive one. So, a lot of developers seek to avoid having their coin branded solely as a meme coin, and will instead invent a contrived use case to try and justify the existence of the coin. For the most part, animal coins tend to be meme attempting to recapture the popularity of Doge. Then there are coins with specific joke names. These are some of the main meme coins in circulation at the moment:
- Hoge Finance
- Dogelon Mars
- Pepe Cash
- Loser Coin
- Pepemon Pepeballs
- MU DANK
- Baguette Token
This list can be extended indefinitely due to the sheer amount of meme-coins in existence. However, most of the listed ones above pretty clearly fit the meme coin meaning here. New coins pop up all the time though and many rise and fall pretty quickly.
Which Meme Coins to Invest In?
If you’re looking at investing in these coins, then there are a few things to bear in mind. They largely derive their value from memes. So you’re really just betting on other crypto holders thinking the joke is funny for long enough with one from this meme coin list. Equally, a meme coin being enjoyed by enough people does seem to be enough to keep it afloat despite bad fundamentals. Dogecoin for example sees huge upticks in demand, but new coins are “minted” quickly enough creating a perpetual state of inflation and devaluating its worth.
Investing in these coins can be a fun side part to cryptocurrency. It is tricky to pick a specific coin to invest in, since meme coins kind of work like memes. They grow and fall depending on momentum online. It is still worth doing research into how big the largest wallets for a meme coin are though, and some aspects of its fundamentals. These won’t preclude you from making money on a meme coin, but they can help you avoid more violent rugpulls that come with them.
Ideally, you would also need to be well tuned with the crypto meme culture and memes in general. My bet is that a potential “Sadge” coin would grow in value if someone ever dares make one.