Crypto market has more than 22K cryptos as of now and there are several categories for the separate niche like MeFarastarter, Storage, Celo Ecosystem, Cybersecurity, Privacy and Memes etc.
Memecoins is basically a cryptocurrency term which is mostly used for the popular digital asset initially created as a joke for fun but may not have its intrinsic values. As per Coinmarketcap, there are 330 memecoins existing in the crypto market.
Here are top five potential memecoins
- Dogecoin (DOGE)
Dogecoin (DOGE) was developed in December FY2013 forked from Litecoin. This is the favorite coin of Tesla CEO Elon Musk as he supports the token on many occasions and social media. At the time, Dogecoin was trading near the $0.070 mark, struggling from selling pressure. Investors are wishing to see Dogecoin price at $1 in the upcoming few years. Live CMC ranking is #8 along with $9.37 Billion market capitalization.
- Shiba Inu (SHIB)
Dogecoin Killer —- SHIB influenced millions of people to add memecon in their portfolios for a long-term outlook. Current market capitalization of Shiba Inu is $4.37 Billion when CMC ranking #15 at time. However, due to weak market circumstances, investors are just holding SHIB token’s despite making any other longs.
- Dogelon Mars (ELON)
Dogecoin Fork Dogelon Mars (ELON) is categorized as a popular meme crypto asset. Its name is the combination of Dogecoin and Elon Musk. as per Coinmarket cap, its current market valuation is $153.7 Million, existing at #126 rank at the time. Although, Dogelon Musk (ELON) price has underperformed in past few weeks, but earlier in FY2023, buyers expect to see it on the $0.0000010 mark.
- Baby Dogecoin (BabyDoge)
Doge meme online community’s fans have created BabyDoge and launched it in June 2021. BabyDoge admires many tricks and lessons from his father— the world’s largest memecoin DOGE. BabyDoge price is marching its 52 weeks low due to uncertainty in the crypto market. Meanwhile, the market capitalization observes at $108.7 Million, when it present at #126 rank on Coinmarketcap.
- MonaCoin (MONA)
Monacoin (MONA), the hard fork of Litecoin was launched in January FY2014 with no pre-mine process. Its an open-source decentralized crypto asset, is ranking at #489 given the market capitalization. On memecoins category it exists at fifth number along with $23.09 Million overall worth.
Last thought
In the recent bull run, investors also made higher returns in Memecoins but as of current market situation only bears dominate the crypto market. So wait for the right time if someone is really interested in meme tokens.
Source: https://www.thecoinrepublic.com/2023/01/01/top-five-memecoins-in-cryptoverse-by-market-capitalization/