Although the meme coin sector of crypto initially started as a joke, they now make up a large portion of the crypto market. Dogecoin (DOGE), created by Jackson Palmer and Billy Markus, started the meme coin revolution, opening the doors for hundreds of meme coins to follow suit.
Big Eyes Coin (BIG) is a new meme coin smashing through its presale stages, raising $8.27 million at the time of writing, making a valid case for why it could be considered the next largest meme coin. So, are meme coins the future of the crypto market? This editorial piece will examine each meme coin mentioned above, deciding whether they have what it takes to lead the crypto market. Let’s begin!
Big Eyes On The Prize
Big Eyes Coin has begun its journey in the crypto market with style. In the five presale stages it has progressed through thus far, Big Eyes Coin has garnered a lot of attention, raising $500,000 in a single day! Its vibrant ecosystem has excited crypto enthusiasts as they prepare for a meme coin that differs from the usual dog theme.
The Big Eyes Coin ecosystem exudes sustainability through its commitment to charitable causes such as ocean sanctuaries. Big Eyes Coin will hold a wallet containing 5% of its precious tokens to help thwart threats to marine life like plastic pollution and overfishing.
NFT adoption is growing each year, and Big Eyes Coin is capitalising on this by releasing NFT collections of its own. However, unlike normal NFTs, Big Eyes Coin will add utility to its NFTs, allowing its holders to utilise them as keys to exclusive clubs and events. Since Big Eyes Coin aims to have a collection in the top ten projects, holding these NFTs could prove wise.
The Inception Of The Meme Coin Market: Dogecoin
Dogecoin’s success as a meme coin can be attributed to several factors. The hype generated around the Dogecoin platform has undoubtedly increased its reputation in the crypto market. High-profile figures like Elon Musk have also contributed to price spikes for DOGE.
Elon Musk has 100 million loyal followers that watch his every move on Twitter. Every time he Tweeted positive things about Dogecoin, the meme coin giant would spike in value. One of the biggest spikes Dogecoin received due to Elon Musk was 27% when Tesla announced it would accept DOGE as payment for Tesla merchandise.
Dogecoin’s popularity is rising, and DOGE is becoming more widely accepted as a valid currency for a growing list of businesses. If Dogecoin maintains this trend, it, along with other successful meme coins, could become the future of the crypto market.
Shiba Inu Becomes A Haven For Ethereum Whales
It is no secret that Ethereum (ETH) is considered the king of altcoins. However, Ethereum whales have started to migrate to Shiba Inu, with one whale purchasing an eye-watering 536 billion SHIB ahead of the merge.
Since the Ethereum merge has already taken place, Ethereum whales still kept their holdings with Shiba Inu, even when Shiba Inu dipped below the support price. Does this mean that Shiba Inu could become the next Ethereum, sealing its fate as the next biggest meme coin?
Shiba Inu currently boasts a market capitalisation of $5.5 billion at the time of writing, making it the fifteenth largest cryptocurrency, according to CoinMarketCap. With cryptocurrencies doing historically well through October, it could prove beneficial to follow in the footsteps of Ethereum whales and accumulate Shiba Inu tokens.
Final Thoughts
With Dogecoin and Shiba Inu leading the charge, meme coins could become the future of the crypto market. Big Eyes Coin will also contribute towards the effort, creating a cryptocurrency for cat lovers that could rival the success of its meme coin competitors, Dogecoin and Shiba Inu.
For more information on Big Eyes Coin (BIG), please visit the following links:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Source: https://www.thecoinrepublic.com/2022/10/20/are-meme-coins-the-future-of-the-crypto-market-a-look-at-dogecoin-shiba-inu-and-big-eyes-coin/