There is a saying circulating in the crypto industry in 2023 that the month of May in 2023 belongs to meme coins.
As the general market began to shake sideways in April, the meme coin season arrived in early May, with AIDOGE making the first move and PEPE taking over, starting a new round of meme coin market.
As we all know, a meme coin is a cryptocurrency with no intrinsic value or utility. In most cases, these junk coins feature Internet modalities — images from social media platforms that may be humorous in nature.
And precisely because meme coins differ from cryptocurrencies primarily because of their lack of utility, it makes it more difficult for users to determine which meme coins are worth investing in.
In this article, we use the popular meme project coins on SuperEx as a basis for examining the top 7 meme coins in the market. This article analyzes the project concepts from a market perspective and does not constitute specific investment advice.
1. Meme concept coins are highly speculative, have no intrinsic value, and are all supported by the heat and wind, with certain investment risks.
2. Meme concept coins depend on the market trend, as long as the trendis still there, the rise in meme coin price is still there, and there are still good projects worth paying attention to.
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Status of the meme Coin Concept
Given the current meme buzz, the meme coin concept has become one of the most talked about investment opportunities in the cryptocurrency space. According to CoinGecko statistics, there are about 200–300 projects in the meme coin market, with an overall market cap of about $16 billion. While normal projects in a bull market are likely to return 5–20x earnings, DOGE is up 400 times and SHIB is up 500,000 times, both in the top 20 of the overall market cap.
Did DOGE and SHIB start the meme crypto market?
No, it is the meme that made DOGE and SHIB, they can be said to be the realization of the meme culture.
From the current heat of meme track, it is impossible to rely solely on retail investors to drive the market up. Behind it must be a number of capital and institutions working together to create the meme coin that took off, and the market value of AIDOGE and PEPE, for example, has come to the high point of meme coin, the potential increase in price is not high, and the potential decrease is very high, so you need to be cautious to enter the meme market.
However, at present, as the meme fever continues to rise, the market capital is pouring in, perhaps people are not catching the lead and start FOMO later, and there is no shortage of excellent projects among them.
Such as AISHIBA, POGAI and so on, are very good projects.
Top 7 Market Ranking Meme Coin Projects
Wojak (also known as Feels Guy), currently ranks first in SuperEx trading volume. Wojak was launched after PEPE became popular, and its official website stated that it is supported by PEP’s mememeter.
However, Wojak is actually an 11-year-old MEME who appeared on the now-defunct image board Krautchan. Wojak has many variations and the meme is also known as “Feels Guy”. Like Doge and PEPE, Wojak is a popular meme among cryptocurrency proponents, and despite its lack of utility, investors looking for memecoins will find that the popularity of the Wojak meme and the token’s growth since its launch make it a People are fascinated.
The popular meme concept leading project on the whole network has set a record of thousands of times increase in price in just four days. The currency holding addresses on Ethereum is over 20 thousand. It can be said that pepe is the most popular meme and what makes meme currency great again is no tax and all circulation concepts .
According to the official website, the PEPE project is determined to become the most meaningful meme coin. Although the Dogecoin series has its own glorious moment, the days of the dog family are over, and now is the era of PEPE frog in power.
AIDOGE is a meme+ai concept project on arbitrum. All tokens are 100% airdropped to arb airdrop users. The earlier you claim, the more tokens you receive, and the project has not reserved any of the AIDOGE supply. Therefore, the price is the result of full competition in the market. Users can participate in liquidity incentives to receive arb token rewards, and can also participate in single-currency pledges to obtain rewards. Overall, AIDOGE is a deflationary token.
Shiba Inu is an experiment in decentralized community building. SHIB is the name of its token, commonly known as “Shiba Inu Coin”. SHIB claims to be the “DOGECOIN KILLER”, and can surpass Dogecoin in a short period of time.
In 2021, the meme market has seen exponential growth, especially dog-themed meme coins. As of November 2021, one of the most popular “variety” is Shiba Inu (SHIB). It can be said that SHIB was the leading project in the last round of meme market. As of 2023, it still has a very high popularity.
DOGE, also known as Dogecoin, is a cryptocurrency derived from meme Doge, which was launched in 2013. Dogecoin has been publicly supported by technology tycoon Musk since 2019 and its popularity has risen sharply. It is classified as memecoin and is one of the top ten cryptocurrencies by market value.
Dogecoin was originally only used by Billy Marcus for proof, and at the same time as a cryptocurrency created as an improved demonstration of Bitcoin. The technical architecture basically comes from Litecoin. Within 30 days after the platform was launched, more than 1 million people visited it.
Launched on Jul 10, 2021, FLOKI is a multi-chain ERC-20– and BEP-20–compliant token. It differentiates itself from other meme coins with its suite of real-life use cases.
Floki has three main utilities: Valhalla, FlokiPlaces and FlokiFi. Valhalla is a play-to-earn metaverse, and FlokiPlaces is a marketplace that allows users to purchase physical goods with FLOKI, hence generating demand for the token. FlokiFi is a decentralized exchange (DEX) on which FLOKI holders can swap their digital assets into their desired cryptocurrencies. FlokiFi recently launched the FlokiFi Locker, which allows users to safely lock up their cryptocurrencies.
TAMA gained a significant amount of market attention when it was launched in September 2022 through OKX’s initial exchange offering (IEO). Unlike typical meme coins, TAMA differentiates itself with a play-to-earn ecosystem that comprises Tamadoge pets, Tamadoge arcade-style games and an augmented reality app. This is complemented by the Tamaverse, a virtual space where players can interact.
In the Tamadoge play-to-earn ecosystem, players are rewarded with TAMA by participating in games. The platform’s team has been active in developing games, and has released Super Doge, Rocket Doge, To The Moon and Tama Blast. With the TAMA they earn, players can purchase Tamadoge pets from the ecosystem, which can then be bred, traded and used to compete with other players.
Despite falling market prices, meme tokens are an interesting attraction for most investors. Due to their propensity to skyrocket in price, these digital assets can offer many investors a solid earning opportunity.