- Memecoins do not have intrinsic value and their value depends on their popularity
- Memecoins are the first choice of traders as they offer high volatility
Meme coins are currently in high demand, although there is no intrinsic value in most of them. Due to the high volatility they offer, meme coins are the first choice of traders. Many meme coins on the market are fake, so before investing in meme coins, it is required for investors to do thorough research. Therefore, investing in the top meme coins is always a secure option compared to investing in new and unverified memes.
Traders always have an advantage while investing in meme coins as they offer high volatility, but they should ensure that they are investing in a legit meme coin. Because it is very often that the developers of small meme coins play pump-and-dump scams.
To protect someone from such scams, one needs to prepare a comprehensive list of the top meme coins on the market. Since they have the largest market cap, they are less likely to be scam coins. Hence, investors can invest in them, but only with thorough research.
Top meme coins in the market
Price – $ $0.07534
Market Cap – $10,588,023,777
Ranking (as per market cap) – #1
This is not only the most famous but also the biggest meme coin as per market cap. The price of a meme coin highly depends on its popularity, and popularity comes from the community it has. Dogecoin has one of the biggest communities in the entire DeFi system. Many celebrities are associated with Dogecoin.
One of the most famous of them is Elon Musk. He often tweets regarding Dogecoin. Sometimes his tweets have even significantly surged in price. Dogecoin follows the principles of Bitcoin, but it is not a copy of Bitcoin. Because the consensus mechanism it follows is different from Bitcoin. Although Bitcoin requires much time and energy to mine, Dogecoin can be mined easily with simple hardware.
- Shiba Inu
Market Cap – $5,753,334,858
Rank – #2
Price – $0.000009743
Shiba Inu is another meme coin based on the famous Shiba Inu dog meme. The main token of the Shiba Inu ecosystem is SHIB. The developers of the Shibainu coin are still unknown, just like the Bitcoin developers.
This cryptocurrency is based on the Ethereum blockchain and follows the ERC-20 token standard. Shiba Inu was closely connected to the founder of Ethereum, Vitalic Buterin, because at the time of its launch, the founder of Shiba Inu, Shytoshi, gifted him 50% of the Shiba Inu token. But Vitalic burned 90% of the token he had, and the rest (10%) was donated to COVID relief funds.
- Pepe Coin
Current Price: $0.000001227
Market Cap: $481,706,028
Rank (as per market cap): #3
The Pepe coin is yet another meme coin based on the famous internet meme of Pepe the Frog. This meme coin is also based on the Ethereum network.
This meme coin is a deflationary meme coin; hence, its value will rise as more and more tokens of this meme coin are burned. It has already achieved its maximum supply limit of 420,690,000,000,000 PEPE, and its value will rise as more and more people are burned. In recent times, it has shown a high surge in its price. They are highly volatile and, hence, always a good option for