Web3 is a broad ream of opportunities; in fact, the digital market hosts thousands of cryptocurrencies and other assets that could reshape traditional finance. For many years, investors have embraced the most popular options, such as Bitcoin and Ethereum, carefully analyzing the movements of the currencies to make sure they have made the right decisions. The virtual market was a serious commitment, and it still is, but to make a lighthearted joke, two engineers designed Dogecoin, which was a token inspired by the viral Shiba Inu meme to poke at the hype around Bitcoin. However, the developers were not expecting their coin to see that much success, but investors saw its potential, and they embraced the currency, which opened the gates to new opportunities and a whole new market. The meme coin market is recognized for its funny nature, but nowadays, currencies play a pivotal role in the portfolio diversification of users from all over the world. Nowadays, the meme coins market is expanding, so if you want to embrace them, here are the most popular tokens to consider and their utility cases:
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Dogecoin as a leader of meme coins
Dogecoin was introduced to the public in 2013. The currency was designed by two engineers who wanted to poke at the success and hype around cryptocurrencies without knowing that their invention would become a competitor of the leader, Bitcoin, shortly after. Dogecoin is inspired by the viral meme with the Shiba Inu dog, and its funny nature has immediately grabbed the attention of web3 users. Doge is a peer-to-peer open-source ledger with an underlying technology derived from Litecoin. The main utility of the currency was to tip the Doge community at first, but then, the popularity of the coin expanded the use cases of the network, becoming a top choice for investors and building a safe ecosystem for financial activities. Doge can now be used as a store of value for portfolio diversification, as a medium of exchange, or as a means of purchasing regular goods and services from e-commerce platforms. So, if you are considering investing in the meme coin, you can track the Dogecoin price to see what the future holds for the popular currency.
Shiba Inu Token
Shiba Inu (SHIB) was launched in 2020 to promote community spirit. The token has entered the meme coin market; it has become the second-largest altcoin by market capitalization. SHIB is built on Ethereum’s blockchain, and it was designed to promote economic growth. Understandably, the coin was inspired by the success of Dogecoin, and it follows the same path as Eth, providing users with programmable features for the development of decentralized applications; it can be used as a medium of exchange and thanks to the smart contract capabilities, the coin promises its evolution in the business landscape as well.
Pepe token
PEPE is another popular cryptocurrency in the family of meme coins. It’s inspired by the viral Pepe frog meme, and according to internet users and the Pepe community, the main reason they choose to invest in cryptocurrencies is because of its funny nature. Pepe is built on the ETH blockchain, just like the Shiba Inu token, and it is mainly designed to be a store of value. The coin relies on a proof-of-stake mechanism, and various projects are surging on its network. For instance, to boost the success of Pepe, it used a redistribution system that incentivized potential investors to encourage their activity, aiming to maintain the stability of the token and increase its long-term success.
Investment opportunities
Choosing to invest in meme coins could be a great strategy to strengthen your portfolio diversification. This method is, in fact, the greatest to manage volatility risks because since not all cryptocurrencies follow the same path, you may gain significant returns for some while you could lose small amounts from the sudden drop of other coins and assets’ prices, creating balance in your account. The demand for cryptocurrencies is the main factor driving their price boost, so investors consider them a great choice, considering the rising popularity of meme tokens. The most important thing to make the most of your trading journey is to understand the technologies of the web3, follow the path of the currencies, and identify the best trading strategies for you.
Engaged community
One of the most important aspects of the meme coins is that they have an engaged and strong community. Thanks to this commitment of investors, the coin is promoted constantly on social media platforms, and the involvement of celebrities like Elon Musk, who has become an icon for Dogecoin, is a significant factor that drives the success of the currencies. This strong connection between investors of the meme coin market pushed the community to embrace the desire to promote kindness as their core value, establishing many charity programs and collaborating with non-profit organizations for social causes.
Are meme coins beginner-friendly?
Despite the high volatility of some meme coins, the risks of losing significant amounts of money can be minimal because buying the meme tokens doesn’t require considerable financial effort, and you can choose to invest in them in small amounts as a beginner to experience in the crypto world. So, shorty, the answer is yes, meme coins are beginner-friendly, so if you are willing to dip your toe into the web3, you can embrace the popular altcoins with confidence. However, it’s crucial to study the digital market and learn to identify the best strategies to boost your profits. Also, don’t forget about the golden rule of the crypto market: only invest what you can afford to lose!
