What is Meme Coins
Meme coins are typically made, based on amusing and intriguing things seen on the internet and social media. Meme currencies are here to be exchanged, not to join the ranks of Decentralized Autonomous Organizations (DAOs) or to operate as a transaction instrument.
The value of meme coins fluctuates owing to the influence of the community and celebrities. Another reason for the fluctuation of meme currencies is the way they are created.
Characteristics of Meme Coin
The following are the distinctions between meme coins and other crypto assets:
- Meme coins are largely used for trade rather than as utility tokens.
- The asset values are quite variable.
- Some meme currencies have an inexhaustible supply.
- Media exposure determines the value of meme currencies.
- Meme coins have a relatively low asset value per asset.
Top best meme coins based on their market capitalization
- Dogecoin (DOGE)
Dogecoin (DOGE) is a famous meme coin that was invented by software developers in 2013. It ascended to the best crypto to buy list based on market value in April 2021.
DOGE is now in circulation with a total quantity of 132,670,764.30 coins.
- Shiba Inu (SHIB)
Shiba Inu(SHIB) is a Shiba Inu-themed Ethereum (ERC-20) cryptocurrency. This cryptocurrency has been branded the “Dogecoin killer” by its advocates, who see it as a viable alternative to Dogecoin.
An unknown individual or group, launched SHIB in August 2020. They said in their study that implementing SHIB in the Ethereum environment helps SHIB to remain decentralised owing to its stable and safe nature.
SHIB has a cumulative circulation of over 549 trillion coins with no upper limit.
Always Buy shiba inu after proper research.
- Dogelon Mars (ELON)
Dogelon Mars (ELON) is a Doge-themed meme currency that was released on April 23, 2021. ELON’s mascot appears in a comic book that is offered as a Non-Fungible Token in addition to being a cryptocurrency (NFT).
Following Shiba Inu’s public relations effort, the ELON team handed half of the token supply to one of Ethereum’s founders. Around 43% of ELON tokens were donated to the Methuselah Foundation. To improve ELON’s long-term worth, the foundation agreed not to sell the tokens for at least one year in May 2021.
The total amount of ELON coins in circulation is 551,174,021,784,147, with a maximum supply of one quadrillion.
- MonaCoin (MONA)
In 2014, an unnamed individual known as “Mr.Watanabe” launched MonaCoin (MONA). It’s a crypto asset based on the Litecoin network that’s largely used in Japan. The difference is in the mining algorithm, which MONA employed instead of Scrypt: Lyra2REv2. The latter uses less energy and isn’t dependent on ASIC miners.
The total number of MONA coins in circulation is 65,729,675, with a maximum supply of 105,120,000.
- Shiba Predator (QOM)
Shiba Predator (QOM) is a meme currency with a market capitalization of 406th.
The overall supply of QOM is 599,986,999,999,999 coins, with a maximum supply of one quintillion coins.
- Samoyedcoin (SAMO)
Samoyedcoin (SAMO) is a Solana meme coin established only for community ownership. The mascot of SAMO is a samoyed, an Eastern European dog breed. The mascot was chosen to honour Solana’s co-founder, who also owns a samoyed.
The overall number of SAMO coins in circulation is 3,490,267,968 coins, with a maximum supply of 9,238,477,429 coins.
- ERC20 (ERC20)
ERC20 (ERC20) is a meme currency that is currently ranked 2457th by market capitalization. There is a total quantity of 1,128,632,512 coins in circulation, with no upper limit.
- Hoge Finance (HOGE)
Hoge Finance (HOGE) is an ERC-20 – not to be confused with ERC20 – auto-staking Decentralized Finance (DeFi) coin. The asset was originally known as Hoge. Finance or Hogecoin was introduced on February 7, 2021.
The overall amount of HOGE coins in circulation is 402,276,464,812 coins, with a maximum supply of one trillion coins.
Before buying a coin it’s always good to check the conversion rates of coins like usdt to inr.