Anyone who has invested in cryptocurrencies must have had a high level of endurance in recent months. Cryptocurrency markets have been rather icy since the Terra / Luna crash in May. Experts talk about the cryptocurrency winter. But each cryptocurrency winter is followed by a cryptocurrency spring. Each major stock market crash was followed by a recovery. In addition, there are still coins that break this trend. Often meme coins were and are part of it.
What exactly are meme coins?
Meme coins are actually fun cryptocurrencies. They don’t pursue a specific goal like other crypto or blockchains that want to revolutionize finance or turn blockchain technology upside down. For example, Dogecoin was created as a satire on Bitcoin, which was also clearly communicated by the developers. However, this did not prevent the community from purchasing the DOŻA and thus caused an explosion in prices.
This brings us to the token problem. Meme coins are extremely volatile. They are based solely on the beliefs of their communities and are usually smiled by experts. Dogecoin shows that they can also be wrong. It is currently the 10th most popular cryptocurrency with a market cap of $ 9.2 billion. So you can definitely make money while having fun.
Meme coins that can explode
Small investors are especially interested in coins that they can buy cheaply. Because let’s be honest, even if Bitcoin and Ethereum fell, 23,000 Euro for BTC and 1,500 Euro for Ethereum is still a lot of money. Meme coins and new coins like IBAT, on the other hand, are relatively cheap and can definitely raise prices.
Battle of Infinity (IBAT)
Admittedly, IBAT is not exactly a meme coin. Rather, it is a native token of the future Play to Earn Battle Infinity platform. Pre-sale of coins starts in mid-July. The platform itself wants to create a multiverse of metavers, and thus revolutionize or redefine games based on blockchain technology. In total, six products are planned on the platform, all of which combine to form a complete ecosystem.
Fantasy Sport – a billion dollar nerdy marketplace
At the heart of Battle Infinity is IBAT Premier League, the world’s first NFT-based decentralized fantasy sports game integrated with the Metaverse game. If you are frowning at the term fantasy sport and you think no one is playing it anyway, then you are very wrong. If the statistics are to be believed, about 57 million people played in the fantasy league in 2019. The market is worth billions – about $ 8.2 billion, and that’s just an estimate. IBAT has grown wonderfully in the first 10 days after the pre-sale started. Meanwhile, a soft limit of 2000 BNB has been reached and approximately 17% of the pre-sale coins have been sold.
Cryptocurrencies depicting dogs, especially those depicting Japanese dog breeds, are popular with crypto investors. The two most famous are probably Dogecoin (the one from Dogefather Elon Musk) and Shiba Inu Coin. By the way, both show the Japanese dog breed. Unlike Dogecoin, SHIB is based on the Ethereum blockchain and is an ERC-20 token. The Shiba token is still a relatively young crypto that was launched in 2020. For comparison: Bitcoin – the mother of all cryptocurrencies – was launched in 2009 and that is why it is, so to speak, cryptodino.
Shiba Inu – Popular with whales
SHIB was created by a person named Ryoshi, who to this day remains as unknown as Bitcoin’s creator Satoshi Nakamoto. In a very short time, Shiba Token had a large community and was successful within a few months. The coin peaked in October 2021. But of course, SHIB was also not spared in the accident. The stake is currently € 0.00001146. The Shiba coin is apparently especially popular with whales. In April, the 1,000 largest Ethereum wallets held approximately $ 1.6 billion SHIB.
Check out the Top 100 Whales here: https://t.co/N5qqsCAH8j
– WhaleStats (free cryptocurrency data) (@WhaleStats) July 19, 2022
The Shiba Inu white paper is called Woofpaper. The company supports the Shiba Inu Rescue Association, which protects the Japanese dog breed.
Let’s stick to the meme coins with the dog. Baby Doge is also popular with investors. Meme Coin was founded in 2021, about a year after Shiba Inu – and the concept worked. So far, the coin has had 1.5 million Twitter followers – and the little doggie has caught the attention of Elon Musk as well. But it could also be because the coin was developed in the Dogecoin community. The coin should also have reached a certain level of awareness in Germany, at least among football fans. Babydoge is a sponsor of TSG Hoffenheim and together with the club want to focus on the development of a club specific NFT.
Babydog aimlessly? Not completely
Typically, meme coins have no specific purpose. But there are exceptions that prove the rule, and until a child is one of them. The coin has an intelligent betting system that is used by holodists. A fee is charged for each transaction with the token. 5% of this goes directly to the owners as a dog. However, to prevent inflation, coins are regularly burned, after all, you learn from past mistakes (Terra / Luna, of course)
The course currently costs 0.00000001324 euros, so it is definitely affordable.
The greatest blessing to thousands of people around the world, we are always grateful! pic.twitter.com/GWYdkau61N
– Baby Doge (@BabyDogeCoin) July 1, 2022
Babydoge is a real feel-good coin. The company helps dogs in need. For this purpose, a special charity wallet was established. To date, $ 75,000 has been donated to Paws with Cause and $ 100,000 to Best Friends Animal Society.