The word cryptocurrency is almost synonymous with Bitcoin. This fallacy might be due to the unusual movement associated with BTC since its launch, ranking it as the most popular cryptocurrency globally. The truth is that at present, there are upwards of eight thousand crypto coins available to investors for investment.
Unlike leading stream cryptos like BTC and ETH, meme coins are inspired by famous internet jokes and themes. For example, Dogecoin was affected by the favorite Shiba Inu-inspired internet meme, while Elon Musk inspired the ELON meme coin.
Why should market participants bother investing in meme coins?
Most meme coins trade at less than a dollar. However, while Bitcoin’s phenomenal 2020 year saw it rise by approximately 300%, Dogecoin in 2021 rose by approximately 1602%, and it was not the leading meme coin in gain terms.
This performance does not cut across the meme coin space, but most of them experienced exponential growth in 2021. Nevertheless, a significant investment in meme coins would have resulted in a pretty tidy sum of returns. For example, with BTC gaining just 60% in 2021, a $20.000 investment would be worth $32.000 by the end of the year, while the same investment in Dogecoin would have been worth $320.400 over the same period.
Should investors then jump into the meme coin bandwagon? The relatively cheap cost of meme coins makes them an attractive crypto investment option.
In addition, most of these coins have an unlimited supply, making them easily accessible and highly liquid compared to leading stream cryptocurrencies that are limited in supply due to the difficulty in their mining.
The top 5 meme coins to include in your crypto fund portfolio
Since the turn of the year, the crypto world has started a decline from its record highs recorded last year. The meme coin corner of the market has taken the brunt of this market decline, further highlighting the unpredictability and volatility of the meme coin market. However, there are still coins with solid fundamentals that can weather the current cryptocurrency storms and make a tidy profit for your crypto fund portfolio.
No.1 Samoyed Coin (SAMO)
Market capitalization: $58.466 M
What do you get when you combine Dogecoin, the richest man in the crypto space — FTX exchange CEO Sam Bankman, and Anatoly Yakovenko, the founder of Solana? A meme coin named Samoyed. Initially launched as a tradable meme coin, SAMO has evolved into the Solana blockchain mascot and its official ambassador.
SAMO has an average daily trading volume at present of $4615920. With just 3.23 billion SAMO coins in circulation, the market has enough legroom for more liquidity since the available coins for trading at present stand at 8.25 billion, with an additional provision to push the max supply to 9.24 billion.
In addition to being a fun-focused meme coin, trading-wise, running on Solana blockchain means it is riding the highly attractive DeFi industry and is a relatively low-cost coin with speedy transactions. If not yet sold, SAMO is hitting the NFT market, and with the rising appetite of the Metaverse for speedy and low-cost non-fungible assets, SAMO is in pole position to benefit.
No.2 Floki Inu Coin (FLOKI)
Market capitalization: $1,033,279,944.84
When you combine Elon Musk, his Shibu Inu pet, and his Musk’s desire to conquer the moon, what you get is a meme coin named Floki Inu. FLOKI launch coincided with Elon’s increased influence in the crypto space in mid-2021 and has grown upwards of 1800% since its launch.
This meme coin at present has an average daily trading volume at present of $15340425.
FLOKI trading volume is undeclared, but with the available trading coins at present standing at 9307.89 billion and an additional provision to push the max supply to 20 trillion, FLOKI is bound to be among the most liquid meme coins.
Despite being a new entrant to the meme space, this coin has taken after Elon in its aggressiveness. It is already present in the Metaverse space through several NFT offerings. Valhalla gaming, FlokiPlaces online merchandise space, and online content and education platform-Floki University.
It has also partnered with Cryptocart giving its holders access to over 1700 stores to use this coin for purchases. A similar partnership is in the works to provide FLOKI with holders access to a curated physical marketplace via Curate, where FLOKI tokens will also be accepted as currency.
No.3 Doge Coin (DOGE)
Market capitalization: $21.57 B
DOGE is the most popular meme coin and accredited for the meme coin boom of 2021. It was cropped from the Litecoin cryptocurrency at the end of 2013 and was the first open-source meme coin.
With an average daily trading volume of $1001213026, the DOGE coin is one of the most liquid and popular meme coins globally.
At present, the total supply of the DOGE is 132.67 billion, with no maximum supply because DOGE coin mining is infinite. This coin has already established itself as a mainstay in the quickly expanding Metaverse universe via its NFTs.
In addition, it is based on the DOGE cryptocurrency, which has proven to be one of the most stable blockchain coins. DOGE reached an all-time high of $0.74, which is the time to dip as it starts bullish to retrace its steps. To top it off, Elon Musk has said severally that this coin is his favorite meme coin in the crypto space.
No.4 SHIBA Inu Coin (SHIB)
Market capitalization: $15.20 M
The Shiba Inu coin in 2020 by Ryoshi gave those who did not capitalize on the DOGE coin movement a chance to make their money. As a result, the SHIB coin gained an instant following and was nicknamed the “DOGECOIN KILLER.”
SHIB has an average daily trading volume at present of $752347222. Given that SHIB coin has an available supply for the trading of 549063.28 billion, this average trading volume is just a drop in the ocean. Reading from its nemesis, this meme coin has gone after the social media community to drive value and speed of adoption. Its popularity and adoption have necessitated the listing of this meme coin in mainstream crypto exchanges such as the US’s Coinbase and Mexico’s Bitso. It is one of the few meme coins used as a currency for buying physical products, having partnered with Newegg. With more collaborations on the way and an entirely whole cryptocurrency ecosystem developing, this cute dog-based meme coin is worth a look.
No.5 SAFEMOON Coin (SAFEMOON)
Market capitalization: $955.75 M
The Safemoon coin was created in 2020 by Ryoshi to give those that did not capitalize on the DOGE coin movement a chance to make their money. At its core, this meme coin is a DeFi combining RFI tokenomics and auto-liquidity generating liquidity.
SAFEMOON has an average daily trading volume at present of $238488. Several sources say that this coin is in the process of developing NFTs, crypto educational applications, and charity projects funded by its technology.
In addition, it has officially announced the creation of a coin launchpad that will enable its community members to create their coins. Couple all this with the ambition to be listed on the mainstream crypto exchanges and their dream of launching a DEX in 2022, and what you have is a deflationary coin asset ready to take the market by storm.
The crypto market has proven to be pretty volatile, but if the last two years have taught us anything, there are opportunities to make millions from this market. Meme coins provide an alternative play on the blockchain-powered cryptocurrency market, and the coins above have the fundamentals and community backing to make the most of 2022.