From Dogecoin to ElmoERC – The Rise and Impact of Memecoins in Crypto

Memecoins have been around for a while. However, their popularity grew tremendously in 2021. Several memecoins practically took the crypto world by storm, and many investors benefitted massively from the trend.

Inspired by internet memes and jokes, memecoins belong to a subgenre of cryptocurrencies that bank on humor and their tendency to go viral. Consequently, they often garner meaningful attention and interest from crypto enthusiasts.

While Dogecoin is arguably the most popular memecoin, several others are also making waves on the market. Shiba Inu is a prime example as it has been predicted to rise further. ElmoERC is another memecoin that could explode in the near future. Here, we’ll explore the potential of memecoins and shine a spotlight on the innovative ElmoERC.

The Origin of Memecoins – Dogecoin (DOGE)

Dogecoin (DOGE) was created as far back as 2013. It’s definitely the oldest memecoin, which explains why it’s often mentioned whenever the subgenre is being discussed. Originally intended to be a playful parody of Bitcoin, the dog-themed crypto attracted a fervent community, turning to a meaningful altcoin in the process. The power of its community was felt within a year when it raised $30,000 to fund the Jamaican bobsleigh team’s trip to the 2014 Winter Olympics in Russia.

Dogecoin’s popularity was impacted by the philanthropic deed of its community. Soon afterwards, other memecoins started emerging. Many, like Dogecoin, were branded around the popular Japanese Shiba Inu (Dog) meme. Several years down the line, they became a major force in the crypto scene.

The Rise of Memecoins

The fact that memecoins are generally inspired by internet memes, jokes, amusing images, videos and texts means that they can go viral with ease. Over the years, memecoins have drawn on this viral tendency to build engaging communities. Celebrities have also played key roles in promoting memecoins.

One of the most prominent faces in the memecoin subgenre is Elon Musk. The Tesla and Space X CEO is known for his humorous tweets, and his admiration of Dogecoin is common knowledge in the crypto universe. After endorsing the coin during an appearance as the “Dogefather” on “Saturday Night Live” in May 2021, Dogecoin (DOGE) surged to a momentary market cap of $88 billion.

Other memecoins also benefitted from the buzz generated by celebrity involvements and philanthropic endeavors. Shiba Inu (SHIB), for instance, rose by over 85,000,000% within a year. This sharp rise happened soon after Ethereum CEO, Vitalik Buterin sold 50 trillion SHIB tokens and donated the proceeds to the Indian COVID fund. Many early investors benefited from this monumental Bull Run.

ElmoERC – The Memecoin with Utility

One of the best ways to generate huge profits from crypto investing is to identify new coins with huge potential early and invest cleverly. There are a few strategies to find new meme coins early, but it is important you understand what they offer before buying. One meme coin that stands above most of the newest altcoins is ElmoERC.

There are several reasons ElmoERC ranks above most memecoins. For a start, it is a decent departure from the general concept of memecoins being all about jokes and humor. It combines humor and utility in a sustainable manner. It also introduces a good number of innovative features, including Burn Portal and Elmofos NFT Collection.

Why ElmoERC is More Than a Memecoin

Without further ado, here are the key factors that separate ElmoERC from the regular memecoin:

• Utility and User Engagement – ElmoERC employs an ‘insane’ burning mechanism to create value for token holders. Token holders can actively participate in the project’s growth and development in various ways.
• Rapid Deflationary Nature – ElmoERC has a unique sell taxation mechanism that facilitates rapid deflation. Continuous token burning decreases supply, increasing the value of the project and rewarding long-term investors appropriately.
• Community-Driven Vision – ElmoERC has community engagement and decentralization at the core of its operation. The ultimate goal is to provide unique solutions while carrying the community along.
• Burn Portal – The innovative burn portal is one of ElmoERC’s most attractive features. It allows users to exchange tokens for the DEX spot price and burn them to enhance the deflationary aspect of the project.
• Elmofos NFT Collection – ElmoERC also offers NFT holders reasons to smile. It enhances the use cases of NFTs via NFT staking and other exclusive benefits, rewarding holders for their commitment to the project.
• Global Audience – ElmoERC has a global audience and seeks to attract millions of users across continents. Already, it has attracted several investors from the United States and Europe.
• Continuous Development and Innovation – ElmoERC’s roadmap is impressive. A lot of innovations are lined up, meaning that users will continue to enjoy improved services and offers.
• Transparent and Experienced Team – lastly, the ElmoERC team is transparent. There are several experienced industry players on the team, and transparency is one of their collective watchwords.

Conclusion

Memecoins are here to stay and prudent investors will continue to benefit from the buzz they generate. Dogecoin (DOGE) made several millionaires years ago, Shiba Inu, too. ElmoERC appears to be the next memecoin in line because it takes the concept to a whole new level.

We’ve discussed the basic things you need to know about memecoins and relayed how they transitioned from elements of humor to attractive digital assets. We’ve also highlighted why ElmoERC is looking good for investors. Whether you seek entertainment or profitable investment, this new memecoin is poised to offer an exciting journey ahead.