So far, 2023 has been an ideal year for several cryptos after the crypto bloodbath of 2022. Not just altcoins, but this could also be the year of meme coins, as its economy is showing huge growth potential.
Meme coins, as the name implies, are cryptos that feature characters from memes or even hilarious concepts recorded in a picture, video, or media format. Since their introduction into crypto pop culture, meme coins have gone through extreme peaks and valleys, turning several investors into overnight millionaires. With their fun characteristics, these tokens have brought joy into a rather grim and volatile reality of the crypto sphere.
However, with hundreds of meme coins in the market, it is crucial to recognize those with utilities and growth potential to generate profitable returns. Therefore, here are the best meme coins in the market set to begin their bullish rally in 2023.
Dogetti (DETI)
The next big thing to be launched in the meme coin sphere is Dogetti. DETI has received immense popularity and hype during its early presale stage itself. This newest extended crypto family member of Dogecoin has a bright future ahead. It is designed to be a community for meme coin enthusiasts. Its dog-themed approach makes it even more welcoming within the meme coin sphere.
The Dogetti DAO allows users to vote and contribute to the development of the project. Moreover, the community would make every decision, making it a community-driven meme coin.
One of the unique traits of this meme coin is its generosity towards charities. Users have the liberty to choose between different charities to donate to. 2% of every transaction is kept aside in a charity wallet used specifically for this. Investors are now waiting for the release of its NFTs that would interplay with its token trading.
Dogetti would be launched once the family has grown to 100,000, providing early investors a chance to buy DETI before it is listed on any exchanges. Members of the Dogetti community will have the opportunity to reap all the benefits of being an early investor, making DETI the best meme coin to buy now.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
The OG meme token, Dogecoin, is on any investor’s list of best meme coins in the market. Although DOGE was released as a fun crypto, it garnered massive attention and hype from investors, celebrities, and across social media, exploding its value and price and positioning its place as the top investment for investors. Dogecoin is much more efficient than Bitcoin, and mining requires far less energy, reducing environmental impact. The crypto started its massive rally in 2021, hitting an all-time high of $0.7376 in May 2021.
A key catalyst for Dogecoin’s price rise was the celebrity endorsements from the likes of the Twitter owner and Tesla CEO Elon Musk, Mark Cuban, Snoop Dogg, etc. Elon Musk, especially, has sent DOGE’s price and market capitalization soaring several times after tweeting about the digital asset.
Although Dogecoin lacks real-world utilities, the team is working to improve the token's use cases. The performance of the crypto thus can be attributed to the strong community formed around it and increasing mainstream acceptance. DOGE is now accepted as a viable mode of payment by a wide range of businesses like Dallas Mavericks, Tesla, Twitch, NewEgg, Gamestop, etc.
2023 came with the hope of a new bullish rally for the token. Dogecoin has spiked after Musk’s Twitter acquisition. DOGE enthusiasts believe the token would be added as a payment system to Twitter, which would spur another rally for the meme coin in 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
Another compelling contender in the meme coin sphere is Shiba Inu. The self-proclaimed Dogecoin killer has been one of the highest earners in the market, dominating the meme coin economy. Along with hype, SHIB also has some high-growth aspects and utilities.
SHIB is one of the best meme coins in the market because, unlike its rivals, Shiba Inu has a decentralized exchange, ShibaSwap, and an NFC-enabled mobile game called Shiba Eternity. The launch of Shibarium, the layer-2 solution designed to help the crypto scale better while also lowering transaction costs, is another reason to buy SHIB in 2023. This would open doors for more developers to build on its chain, adding fuel to the crypto's adoption rate.
Additionally, another reason that makes Shiba Inu a potential investment option is its tokenomics. When it first entered the market, the crypto had one quadrillion tokens in circulation. By mid-2021, over 50% of this supply was taken off the market, followed by Vitalik Buterin’s decision to burn the 50% of tokens allocated to him by the team during the launch. Since then, token burning has been a continuous process within the SHIB ecosystem. The team even launched a token burn platform in April 2022. The increased scarcity of the token will create increased demand, pushing SHIB's value and price to new levels with time.
Given the fact that it has a lot of positive developments going on in its ecosystem makes SHIB one of the best meme coins to buy now in the market for future returns.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
What started as a mere whim quickly became an online phenomenon, paving the way for a legion of meme coins and a potential investment option for investors. These are the best meme coins in the market to invest in now for diversifying your investment portfolio.