What are the top meme coins to look for in 2021

Published 15 Jun 2021 by Radhika Aggarwal

Table of Content

  1. What are Meme coins?
  2. Here are the top meme coins to look for in 2021
  3. Conclusion

What are Meme coins?

Meme Coins came into existence when Dogecoin launched in 2013 to make fun of Cryptocurrency. A meme coin is a joke that changes into a crypto coin, most of the time with a high market capitalization. Meme Coin has no inherent value and is typically used to make a meme on the internet and fun of the crypto world. There are many meme coins in the market, but the most famous meme coins to look for in 2021 are Dogecoin, Shiba Inu, Safemoon, and STOPELON.

Here are the top meme coins to look for in 2021

Dogecoin

Dogecoin was launched in 2013, and now it has been examined that around 100 million dogecoins exist. Dogecoin is an open-source, peer-to-peer cryptocurrency that provides a complete decentralized and secure environment to make their transactions created by the software engineers of IBM Billy Marcus and Jackson Palmer back on 6th December 2013. They began this payment system as a joke making fun of the wild contemplations in cryptocurrencies at the time. Its logo is the face of the Shiba Inu dog from the DOGE meme. Although it started as a joke or a meme coin, it is considered a good investment today. Dogecoin began to make fun of Cryptocurrency by taking its name and logo from a Shiba Inu meme many years back. It is based on Doge that interprets a cartoon version of Shiba Inu, a Japanese hunting dog.

Dogecoin can handle around 30 transactions in a second. The average transaction fees are 1 cent which is faster and cheaper than Bitcoin as the block mining time is 1 minute compared to 10 minutes. However, it’s quicker and more affordable than bitcoin, and it is a lot less efficient than most other blockchains. There are no smart contracts.

Palmer made the idea a reality by purchasing the domain Dogecoin.com and added a splash screen, the coin’s logo(Shiba Inu dog) when working with Sydney’s Adobe Systems marketing department. Billy Markus contacted Palmer after seeing the website and started to develop the currency. He designed Dogecoin’s protocol based on existing cryptocurrencies Luckycoin and Litecoin which use sCrypt technology in their proof-of-work algorithm. Elon Musk is the flag bearer of Dogecoin. One of Musk’s followers asked, ‘Why do u love Doge so much?’ Shortly, the Tesla boss responded in the comments thread, saying that he “loves dogs and memes.” Elon Musk also tweeted that SpaceX will be launching the DOGE-1 satellite “to the moon,” funded by Dogecoin.

Shiba Inu

This meme coin is named after the Japanese dog breed, Shiba Inu. Shiba Inu created in august 2020 by a person named Ryoshi. Shiba Inu came in the news when Tesla owner Elon Musk tweeted in which he stated that “he would like to own a Shiba pup that excited the crypto market, and the prices rose by 300 percent.”

Shiba Inu is an ERC-20 token on the Ethereum blockchain and is based on Dogecoin. It brands itself “the Dogecoin killer.” However, Shiba Inu is quite different from Dogecoin. Shiba Inu is powered by ethereum, whereas Dogecoin is developed using the same technology as Bitcoin.

According to CoinMarketCap, the circulating supply of Shiba Inu is currently at 394,796 SHIB, and the founders say that the mining of around 1,000,000,000,000,000 coins is done.

ShibaSwap is Shiba Inu’s decentralized exchange for Cryptocurrency; it’s also listed on multiple exchanges, including Binance. Ethereum founder Vitalik Buterin holds SHIB worth $1.5 Billion. Buterin and his team did this to prevent extensive holdings by other investors, leading to volatility.

“The hype around meme coins such as Shiba…is not a financial, but a social phenomenon,” says Ben Casein, head of research and strategy at cryptocurrency exchange AAX. “If you’re buying today, I don’t know where the future lies for you. But if you were in a few days ago, yes, you’re making money,” says David Hsiao, CEO of crypto magazine Block Journal.

Safe Moon

The safe moon is listed on the third on the top meme coins to look upon in 2021. It was launched in March 2021, a Defi token deployed on Binance Smart Chain by John Karony. A unique feature that SafeMoon incorporates in its protocol because it demotes the selling of its native tickets, SAFEMOON. The total supply of SAFEMOON is 1000 trillion, with almost all stores in circulation. However, the project resembles a Ponzi scheme because traders have to pay a 10% fee when they sell their tokens, out of which 5% are given back to the token holders. Nevertheless, the platform has attracted more than 2 million users on the flip side despite being just two months old and provided exponential returns on investments.

STOPELON

STOPELON, a new meme cryptocurrency created by crypto traders who were upset with the Tesla Owner Elon Musk. When the Crypto Traders were upset with the irresponsible manipulation, they minted a meme coin named STOPELON. As a result, Cryptocurrency has emerged just this week, and the price has increased by over 4,000 percent in just a day — from $0.0000019 to $0.00009450. On the official website of $STOPELON’s, the message read: “Elon Musk is infamous for irresponsibly manipulating the cryptocurrency market with his Twitter account. Just recently, he did it again, causing a massive crash across all frontiers when he tweeted that Tesla will cease to accept Bitcoin as payment. Anyone with even a shred of critical thinking sees through his lies. He has been trying to pump crypto for ages, tweeting about it to no end, and even going to Saturday Night Live as a final resort to get Dogecoin up! It’s ridiculous!”

Risks associated with meme coins

It has been said that investing in meme coins is quite risky. Dogecoin presently does not have a strong developer community which makes it challenging to support investment. As a result, meme coins can’t be protected from technical glitches, human error, or hacking. In addition, they can be affected by forks or discontinuation.

Conclusion

Hold on, you crypto head, don’t shill out your pretty $$ & alts on the meme coins we talked about above; you need to under the risks associated with meme coins too. Meme coins are pretty easy to make as it has no real-world use case so the market will be filled with meme coins, but don’t worry at cxihub we list only the best performing and promising projects. For example, we have DOGE listed on cxihub to trade, send & receive. But don’t just put your life savings on it or any other meme coin. Invest only that you are okay to lose as meme coins can be incredible gambles but bad investments. As always, this is not financial advice; always DYOR (Do Your Own Research).

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