With the unprecedented growth of the crypto universe, it’s not subtle how the meme coins that the crypto enthusiasts previously dismissed, have been attracting increased attention. Crypto buyers across the world are actively seeking to analyze what are the best meme coins they should purchase this summer, in the hope to find the most remunerative meme coin before the commencement of the next crypto bull run.
In this article, we have analyzed and come up with the top three meme coins that look the most promising and are gaining attention. We would take you through detailed insights on each of these coins based on the market trends, experts’ views, and industry information.
1. Dogecoin – DOGE
Did you know about the fascinating origin history of Dogecoin? Originally created as a playful jest, the meme coin has become a cultural phenomenon since its creation in 2013. The prior objective of DOGE was to offer a satirical tribute to Bitcoin, and hence, the use of the famous ‘Doge’, the Shiba Inu dog meme as its logo.
However, what started as a mere joke, gained immense attention and serious investment support propositions from cryptocurrency enthusiasts and high-profile figures like Elon Musk. As of mid-2023, we have consistently been noticing Dogecoin’s market cap amongst the top 10 of all cryptocurrencies.
The loyal and energetic online community of dogecoin has drawn several investors. Today, DOGE is pretty much a tipping currency on the internet. Its longstanding track record, lively community, and increasing acceptance as a payment method in various regions of the world make it the perfect fit for one of the meme coins to watch this summer.
Commonly referred to as SHIB or the ‘Dogecoin’s Killer’, Shiba Inu has actively been drawing investors’ attention for mid-2023. This meme coin was launched in August 2020 on the Ethereum blockchain with the intention of becoming an ERC-20 token that outpaces Dogecoin’s value “without ever crossing the one-cent mark.”
It made a major breakthrough when it got listed on some of the major crypto exchange platforms like Binance. It was then that it started witnessing substantial trading volumes. Undoubtedly, the valuation of Shiba Inu tends to be highly volatile.
However, the ecosystem is building around ShibaSwap and the ambitious roadmaps of the ecosystem can be seen as potential indicators of its growth, which makes it another meme coin on our list to watch this summer.
3. ApeCoin (APE)
Over recent years of the crypt world, ApeCoin has established itself as one of the best meme coins. It has managed to draw significant attention through its link to the famous collection of NFts, the Bored Ape Yeatch Club.
Apecoin serves as the official currency of the Bored Ape Yacht community. It aims to support several sectors in the Web3 space, be it art, gaming, entertainment, or online and real-world events across the world.
Bored Ape Yatch is a trusted and highly respected club with a dedicated community, which offers an edge to ApeCoin as it is rendered with built-in support and credibility. The crypto-enthusiasts consider ApeCoin as a fascinating experiment on how much ongoing utility a project like this can offer. It is assumed that over time, the value of APE would significantly increase, which makes it the perfect option for long-term investments.
Even though these meme coins began as internet jokes, their instantaneous popularity in the Web3 universe has proven that they can be so much more! Yes, investing in such assets does involve risk due to their volatile structure and lack of regulatory oversight. However, they also offer intriguing opportunities if you are willing to delve into this fascinating world.
Before investing in cryptocurrencies, make sure that you perform thorough due diligence, whether you are investing in meme coins, NFT, or any other Web3-based asset. With the aforementioned and other such profitable meme coins in 2023 summer, let’s see what unfolds further.