Meme coins were initially an idea for a joke but have rapidly transformed into serious investments. If you had put $100 into Shiba Inu (SHIB) when it was launched in August of 2020, you would have made close to 6 million in today’s dollars. The developers are launching new products every day, claiming to provide the same opportunities to generate wealth.
Despite the massive success in the case of the Shiba Inu, there are a variety of meme coins that may offer greater gains to investors in 2022 and beyond. If you’re a serious investor looking to diversify the portfolio, you might consider adding the following three meme coins for their expected growth potential.
The battle between Dogecoin (DOGE) and its fierce Rival Shiba Inu is set to get heated this year as more companies start accepting the coins as payment options. Tesla began taking both Shiba Inu and Dogecoin in November. Several other retailers accept DOGE, including the Dallas Mavericks, Newegg, and Kronos Advanced Technologies. This growing number of merchants accepting DOGE has led to soaring prices and lucrative Dogecoin to INR conversion.
There are more unique addresses that hold Dogecoin than which hold Shiba Inu, as per information from CoinMarketCap. On 10th March, it was reported that there were 4.2 million DOGE addresses in comparison with 1.1 million SHIB holders. The total addresses that hold SHIB have also slowed down from their peak of 1.2 million in the past week. The DOGE number remains relatively constant during the same time.
Monacoin is a decentralized peer-to-peer payment system that is built in a hard fork of the blockchain of Litecoin. What distinguishes Monacoin in comparison to Litecoin is that Monacoin has a larger total supply compared to any other cryptocurrency, such as Bitcoin and Litecoin. Monacoin was also the very first cryptocurrency created in Japan and is one of the biggest communities in the nation.
Although it has fallen from a price of $4 per coin, it was just $1 on March 10th. Monacoin has an optimistic future. It is believed that the Japanese government has accepted Monacoin as an option for payment since. Certain online stores in Japan, such as Bitcoin Mall Bitcoin Mall, also accept Monacoin.
Monacoin’s decentralized platform is owned by all its creators. However, Shiba Inu has been investigated by U.S. watchdog groups because of its substantial ownership stake.
The Dogs of Elon
The Non-Fungible Token (NFT) trading saw an extremely successful year in 2021, and the coming year is likely to produce similar outcomes. The total volume of trading for NFTs was around 13.5 billion by 2021, a 42,000% increase over the previous year. Additionally, Dogs of Elon is set to launch a lunar shoot because of this activity.
Dogs of Elon is the currency that is the basis for this collection. There are over 10,000 Dogs within the collection, and subcollections, which comprise 30 Elons and 70 other special Doggies. The collection is available through exchanges such as Gate.io or Hotbit.
If you’re not a fan of meme coins and want to invest in cryptocurrencies having real utility, you might want to add TRON (TRX) to your portfolio. Over the past, many investors have profited from cashing out by converting TRX to INR, so you can pay close attention to it. But like all cryptocurrencies, investors need to be aware of the inherent risk associated with digital assets before investing the first cent. Be sure to conduct your own detailed research before diving into it.