Will Meme Coins Continue to Dominate the Market in 2023 ... - Analytics Insight

Think cryptocurrencies are boring and drab? Well, meme coins are here to add some light-hearted fun to the crypto world. Based on popular internet inside jokes, meme coins have pretty much taken over the conversation in the cryptocurrency industry. Doggy-themed coins like Dogecoin, Shiba Inu, and others have seen unprecedented successes in this niche, and have inspired several copycats (er, dogs).

While meme coins are a great way to learn about cryptocurrency, they’ve also attracted criticism. Many decry meme coins as worthless novelties, pump-and-dump schemes, or rug pulls. Regardless, they’ve been propped up by figures like Elon Musk and some companies have started accepting Dogecoin as payment. They may not have any utility now but they have the potential to explode into something bigger, so why not get on the train early?

In the Beginning, There was Dogecoin…

Meet the great granddaddy of all meme coins: Dogecoin (DOGE). Based on the popular ‘doge’ meme, the token was created as a parody of Bitcoin. It unexpectedly gained a fanbase, and thus became a legit cryptocurrency in its own right.

Dogecoin has the support of eccentric Tesla CEO Elon Musk whose tweets have caused the price of DOGE to skyrocket on multiple occasions.

Does Dogecoin have any utility? Well, you can use it to tip users on Reddit and Twitter who share quality content. And due to its low transaction fees, companies like AMC Theatres, Space X, Tesla, Twitch, and GameStop have started accepting Dogecoin.

As of April 2023, Dogecoin is number 8 on CoinMarketCap’s rankings and has a market cap of almost $11 billion.

…And Then There Was Shiba Inu

Following the paws of Dogecoin, a new Shiba Inu-themed meme coin emerged. It was called (to the shock of no one) Shiba Inu (SHIB).

It all started in August 2020, when a mysterious individual named ‘Ryoshi’ anonymously created Shiba Inu. The coin quickly attracted a fanbase (who call themselves the SHIBArmy), and the support of Elon Musk and Ethereum co-founder Vitalik Buterin.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Scrypt-based mining system. In September 2021, Coinbase listed Shiba Inu on their exchange, causing the token to rise by over 40%. Other exchanges soon followed suit.

This friendly pup isn’t just about making money though. They’ve created a campaign to rescue real-life Shiba Inu dogs with the Shiba Inu Rescue Association and have expanded into the NFT market and the metaverse.

We Now Welcome Big Eyes Coin to the Team!

In a world full of dogs, Big Eyes stands out as the kitty cat in the pack. Big Eyes Coin (BIG) has raised $34 million so far in its 13th presale stage. Its presale ends on June 3rd and its launch is imminent. Why is Big Eyes Coin worth your time and money? Well, for one, they offer loot boxes. Investors get free loot boxes with every BIG purchase, gaining huge returns on their investment in the process!

But that’s not all. Big Eyes is a generous kitty – they give to ocean charities (to save the fish!) and have built a fierce and loyal community. Big Eyes Coin is running a BIG promotion at the moment to hype its launch. Enter the code END300 to gain 300% on your BIG or loot box purchase!