2022 has been a volatile year for the crypto market. Two major crashes having occurred within the past month that saw the likes of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Terra (LUNA) significantly declined in value. This has led people to question the feasibility of purchasing crypto, as veteran blockchain networks have suffered from the occurrence of the crypto crash. However, in any form of financial purchase, there is an element of risk, it is just about knowing the best places to put your money. This article will explore three meme cryptocurrencies that can be viable purchases: Parody Coin (PARO), Dogelon Mars (ELON) and Dogecoin (DOGE).
Parody Coin (PARO) – The Upcoming Utility Coin
Parody Coin (PARO) is an upcoming decentralized utility coin that is built on the Binance Smart Chain, seeking to provide holders and the community with a large empowered outlet. It describes itself as a passive income system thoughtfully designed to give users more control over their finances. Their paroflection mechanism aims to generate earnings in the native PARO token, while our ParoRewards system will generate earnings in any BEP20 token you desire.
There are several unique key features that PARO has which make transactions easier, such as Parody Bridge, Parody Swap and the Parody Market. Parody Bridge provides a bridge for users that allows them to transfer PARO to other blockchain networks. Additionally, Parody Swap permits users to swap any crypto within any blockchain to an equivalent amount of Parody coins – being a multi-chain swap that aggregates liquidity into one place. The Parody Market is a place for Parody NFTs. The Parody Coin has implemented a unique tax system, conveying a 2% market development. With the third stage of its presale ending in 25 days, now would be the best time to purchase PARO as it is cheaply priced at $0.004.
Dogecoin (DOGE) – The Pioneer of Meme Coins
In 2013, there was a viral internet meme of a Shiba Inu dog called ‘Doge’, conveying a dog glancing at a camera with humorous monologue captions beside it. That same year came the inception of Dogecoin (DOGE), which is considered to be the first meme token to enter the crypto market. It was created as a light-hearted alternative to traditional blockchain networks such as Bitcoin, which is designed to be scarce.
In contrast, Dogecoin is intentionally plentiful, having 10,000 new coins mined with no maximum supply. DOGE is essentially the pioneer for meme coins – rapidly building a community due to having a niche. Recently, Dogecoin has surged by 13% within the past 24 hours due to a public endorsement of the currency by entrepreneur Elon Musk. It is ranked the tenth most profitable cryptocurrency and has a volume of £704 million over the past 24 hours according to Coinbase. If you are looking to purchase a well-established meme coin that has a low chance of fluctuating, DOGE is the cryptocurrency for you.
The Alternative Dog Coin – Dogelon Mars (ELON)
Dogelon Mars (ELON) is another dog coin that takes heavy influence from the meme coin pioneer Dogecoin. The blockchain network’s name originates from both Dogecoin and the Tesla entrepreneur Elon Musk, who is an active advocate for Dogecoin. Additionally, it also plays on a space theme by including ‘mars’ in its name, emphasizing their belief that the token will be extremely successful.
Similar to many meme coins, the founder of ELON remains anonymous, which at times can be a disadvantage as people could think that these types of coins are a scam. However, this coin has been active in the market for over a year, decreasing the possibility of it being a scam. Although the volume of the currency has decreased by 42.47% within the past 24 hours according to CoinMarketCap, ELON has distinguished itself by having a fantasy roadmap portrayed through a comic book.
Conclusion
In recent years, people have particularly found interest in meme coins – which are cryptocurrencies that center themselves around viral images and online memes. These tokens have gained popularity over the years due to their fun and distinct branding. PARO would be a good option for buyers that want low-risk factors. Moreover, investors may have more trust in purchasing Dogecoin as it is well-established and Dogelon Mars as it has great potential through running with popular themes.
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Source: https://thecryptobasic.com/2022/06/24/will-parody-coin-paro-compete-with-dogelon-mars-elon-and-dogecoin-doge-which-has-skyrocketed-by-13/?utm_source=rss&utm_medium=rss&utm_campaign=will-parody-coin-paro-compete-with-dogelon-mars-elon-and-dogecoin-doge-which-has-skyrocketed-by-13