whenever a new meme coin shows some promise, investors will troop in and hope that this is the one that takes them to the moon. So, everyone’s looking for the next Dogecoin or Shiba Inu. In 2021, that wallet’s balance had increased to $5.7 billion. When SHIB became a hit, we saw a story about someone who bought $8,000 worth of it back in 2020 and left it in a wallet. As we said, Dogecoin delivered over 1,600% in returns last year. Meme coins are also very attractive because they have a track record. People looking for a way to make quick money with crypto will definitely be attracted to meme coins. So, while the risk is massive, so are the rewards. You can see triple-digit gains in just one day with some meme coins. In a week, a meme coin’s price can skyrocket as high as 1,000%. If you think regular cryptocurrencies like Bitcoin and QDX are volatile, you should see meme coins.

Many of them get launched almost every day, and you’ve got investors throwing bundles of cash at them. Meme coins are all the rage right now for sure. Why Meme Coin Investing has Become So Popular But, for now, its online community – mostly in Japan – has been growing pretty steadily. Besides that, it doesn’t have much going for it. MonaCoin claims to be Japan’s first native cryptocurrency. Dogecoin, Elon Musk, and Mars – Dogelon Mars. So, some people decided to bring it all together. Musk has tweeted several times about sending Dogecoin “to the moon,” and his company, SpaceX, is working hard on space travel. It was inspired by Elon Musk – the world’s richest man and a huge crypto fan. Dogelon Mars (ELON)ĭogelon Mars is another dog-themed meme coin. Not bad for a coin that’s barely a year old. The coin grew so much in 2021 that for a brief moment, its market cap actually beat that of Dogecoin. And so far, the strategy has worked pretty well.

In many ways, SHIB is trying to take the same route as Dogecoin – using social media to build a community. It was created in April 2021, and its growth has been quite impressive. That alone makes it a big player in the crypto market. Everyone – from everyday investors to celebrities – knows about Dogecoin, even if they don’t invest in it. Created in 2014, it is the industry’s top meme coin.ĭogecoin has so far succeeded solely due to its popularity. For crypto fans, Dogecoin needs no introduction.

Coin watch crypto