Meme coins have risen to prominence in 2021, as lots of altcoins with questionable fundamentals have surged in value thanks to market sentiment. While the cryptocurrency market as a whole has struggled in recent months, there are still plenty of crypto gems to pick up ahead of exponential growth.
This article lists the top 3 meme coins you could buy online right now and explains why they present such an intriguing value proposition. If you are looking for a high risk, high reward investment opportunity, these 3 meme cryptocurrencies can be a great choice to make this year.
Top 3 cryptocurrencies to buy in 2021
The 3 best meme coins to buy in July are listed below:
1) Shiba Inu coin ($SHIB)
This cryptocurrency is very similar to Dogecoin, though it markets itself as the ‘Dogecoin killer.’ Also known as Shiba Token, Shiba Inu is a community-focussed cryptocurrency project that was launched in August of 2020 by anonymous creator, Ryoshi.
SHIB runs on the Ethereum blockchain and since its recent listing on Coinbase Pro, has gone from strength to strength, experiencing a surging trading volume and a rising price.
The cryptocurrency has already risen by several thousand per cent and shows no signs of slowing down, and with the introduction of ShibaSwap – the project’s official exchange – token staking opportunities will also be presented to investors.
While the fundamental value of the project is questionable, the Shiba Inu coin price continues to surge thanks to an enthusiastic community of investors and ever-increasing adoption.
2) Baby Doge Coin ($BabyDoge)
Running on the Binance smart chain and pioneered by fans of DOGE, Baby Dogecoin is a trending, increasingly-popular cryptocurrency and the offspring of its father, Dogecoin.
With an integrated smart staking system, Baby Doge coin is a hyper-deflationary altcoin, with a 5% tax on all transactions in the ecosystem going directly to the wallets of token holders.
The Baby Doge coin price has performed exceptionally well in recent weeks, soaring in value and generating huge shareholder value, and this trend looks set to continue. In terms of the fundamentals, Baby Doge Coin has, cheaper gas fees, faster transaction speeds and increased scalability over Dogecoin thanks to its 5-second block time (as opposed to DOGE’s 60 seconds). However, this is primarily a sentiment-driven story.
3) PAWGcoin ($PAWG)
We feel very bullish about PAWGcoin and its investment potential. It aims to be a direct blockchain rival to the OnlyFans platform, a service with 30+ million registered users and 450,000+ content creators that allows its users to monetise their work for ‘fans.’
The actual open source code base behind OnlyFans already exists and is simple to replicate for any competent development team. So, PAWGcoin is a project with a low technical risk, and the blockchain aspect adds anonymity, which is especially useful for a platform of this type.
With several major celebrities with millions of followers each onboard, the marketing roadmap for PAWG coin is encouraging. The PAWGcoin price has risen meaningfully since it was first launched into the public market, and this trend looks set to continue should the development team manage to pull this off successfully.
For a ‘meme coin,’ PAWG has lots of fundamental potential, making it a slightly less risky project than some of its more hollow contemporaries.
Should I buy a meme coin?
‘Meme’ coins, also known as “shitcoins” by members of the crypto trading community, have a lot to offer, providing you recognise their limitations. If you recognise that most have little fundamental value and are incredibly high risk, you can be more pragmatic about the potential outcomes.
In short, many of these meme coins are essentially lottery tickets with superior odds. Would you rather buy a lottery ticket with an infinitesimal chance of winning big money, or research a variety of high-risk meme cryptocurrencies and spread your bet across several?
As a small and speculative part of your portfolio, investing in meme coins makes sense.