The cryptocurrency market is flooded with meme coins. With well-known public figures supporting them for long-term viability, these cryptocurrencies have captured the attention of the entire world. Even if there are several possibilities, finding the finest meme coins to buy might be a little challenging, especially if you are unfamiliar with the market. Builder.news will help you decide which best meme coins to invest in 2022 and provide interesting facts about most popular meme coins.

What is a meme coin?

Meme coins are cryptocurrencies that have rapidly grown in popularity, frequently as a result of internet marketing by influencers and retail investors.

Known as memes, hilarious and intriguing things on the internet and on social media frequently serve as the inspiration for meme coins. Meme coins exist solely for trading, not to join the ranks of Decentralized Autonomous Organizations (DAOs) or serve as a mechanism for transactions.

What are the most popular meme coins?

Dogecoin (DOGE) and Shiba Inu (SHIB) are the meme coins with the greatest market valuation. Numerous animal-inspired cryptocurrencies such as cat meme coins, and dog meme coins joined the market in the second half of 2021 as a result of the burgeoning popularity of DOGE and SHIB.

Dogecoin (DOGE) - Most popular meme coin of all

Billy Markus and Jackson Palmer, two software engineers, developed Dogecoin (DOGE) in 2013. It was created as a parody of cryptocurrency in an effort to gain attention from the general public and was motivated by the Shiba Inu dog meme. Elon Musk started tweeting about it, which helped it gain popularity, and ordinary investors flocked to buy it in large quantities. Since DOGE is a fork of Litecoin (LTC), it uses the same Proof of Work (POW) algorithm and has an unlimited supply.

Shiba Inus (SHIB) - Top meme coin with increasing utility

Shiba Inu meme coin, a cryptocurrency competitor to DOGE, is frequently referred to as the "Dogecoin killer." A Japanese dog breed is also the inspiration for SHIB. In August 2020, Ryoshi, an unnamed developer, produced it. The primary distinction between SHIB and DOGE is that SHIB has a finite quantity of one quadrillion tokens, of which half were burned and given to charity. The ecosystem of SHIB also consists of a decentralized exchange, an incubator for NFT artwork, NFTs, and an NFT game.

Also, there are plenty of popular meme coins that feature Japanese dog breeds as their mascots including Akita Inu (AKITA), Kishu Inu (KISHU), and Floki Inu (FLOKI).

Top meme coins (Source: Coingecko)

What makes meme coins so well-liked?

Influencer's continuous support

It all began after the GameStop (GME) and AMC Entertainment (AMC) "meme stock" incident in late 2020, in which the Reddit community drove up the prices of these shares by as much as 100 times in a short period of time. A Reddit user made light of the idea of inflating the price of DOGE to turn it into the cryptocurrency version of GME in January 2021.

Elon Musk, the CEO of Tesla, also had an impact on the trend, which caused the DOGE price to increase. Dogecoin increased by more than 2,000% in just five days, reaching a new all-time high of $0.73 USD.

However, Elon Musk publicly made fun of DOGE on television in May 2021, and many believe this was the reason for the subsequent price decline. The "Dogecoin killer" SHIB was one of the other meme coins that traders later switched to. Retail investors FOMOed into meme coins at the same time in the hopes of becoming billionaires overnight, causing yet another meme coin rally.

Reasonable price for a "lucky draw"

The fact that meme coins often only cost a few cents or even a fraction of a penny is another factor that makes them appealing to retail investors. Technically, the low price is meaningless because there is a massive supply of these coins. Even so, possessing millions of a particular meme coin feels different than possessing a tiny amount of ETH or BTC.

Strong community support

In addition to the potential profits, each community's sentiments are what fuel the meme coin fever. Meme coins, as previously said, are intended to be humorous and occasionally regarded as a "inside joke" for a group. They are inspired by well-known Internet memes. In a manner, purchasing meme coins is a means to assist the associated community.

What are the best meme coins to invest in the last half of 2022?

It can be difficult to choose the best meme coins to purchase. Due to this, we have selected the next meme coins to explode in the upcoming period.

Dogecoin (DOGE)

If you're wondering whether Dogecoin is still a wise investment then our answer is “For sure”. Dogecoin is regarded as one of the top meme coins and most undervalued cryptocurrencies for 2022. It was the most well-known meme cryptocurrency and has developed into a significant cryptocurrency asset for owners.

The growth of the meme currency market and Dogecoin's climb to nearly $1 in value as DOGE maxed out at 73 cents were largely attributed to the CEO of Tesla and SpaceX - Elon Musk. Musk, meanwhile, is still regarded as a steadfast promoter of the meme coin and has not given up.

Despite being much below its peak in 2021, Dogecoin is still one of the top 20 meme coins globally. Dogecoin has continued to have a rapid adoption rate in line with its rising popularity. In the past three weeks, Dogecoin's price has increased by more than 40%, rising from $0.060 on July 26 to $0.087 on August 17. The introduction of Dogechain network, a purported scaling solution for Dogecoin, is largely responsible for this upward rise.

Dogecoin chart (Source: Coinmarketcap)

Shiba Inu meme coin (SHIB)

Shiba Inu (SHIB) is an Ethereum (ERC-20) alternative token that features the Shiba Inu. The advocates of this altcoin called it the "Dogecoin killer" and frequently considered it to be Dogecoin's substitute.

Shiba Inu will play a significant role in the metaverse that its founder has also been creating. As a result, these developments may pave the way for a spectacular year for cryptocurrencies. Companies like Ask The Doctor and AMC Entertainment have accepted SHIB as a payment option. The coin was also made a payment option on the respected Flexa Payment network.

The Shiba team has been developing a number of use cases to keep the project current and on investors' minds. The most recent example is the launch of the Shiba Inu Game, Shib Eternity, which makes the price of SHIB soar by 37% for the previous week.

Akita Inu (AKITA)

DOGE was a major influence on AKITA. In February 2021, it was introduced as an ERC-20 token on Uniswap. Its tokenomics closely resemble those of SHIB. The AKITA team, similar to SHIB's developer Ryoshi, locked 50% of its total supply on Uniswap and sent the other 50% to Vitalik Buterin, the co-founder of Ethereum. However, the total quantity of AKITA is just 100 trillion tokens, which is only a tenth of the total supply of SHIB. In May 2021, AKITA began to acquire popularity among the other doggy coins. Some community members consider it to be another "Dogecoin killer."

AKITA - best meme coins to invest in

Dogelon Mars (ELON)

In terms of popularity, the doggy duo is closely followed by Dogelon Mars (ELON). ELON is named after Tesla CEO Elon Musk and his enthusiasm for his firm SpaceX, as the name suggests.

Following Shiba Inu's publicity stunt, the ELON team sent half of the token's supply to Vitalik Buterin, one of the Ethereum founders. About 43% of Buterin's ELON tokens were donated to the Methuselah Foundation. ELON price is US$0.0000003082 and the current CoinMarketCap ranking is #149, with a live market cap of $169 million USD. Dogecoin fork ELON has a 557 trillion token supply that is currently in circulation.

MonaCoin (MONA)

One of the first meme-related cryptocurrency assets is MonaCoin. Famously introduced in late 2013, the meme coin has a huge following in Japan. The meme project uses a peer-to-peer (P2P) network and is decentralized and open-source. MonaCoin is a fork of the well-known Litecoin fork of Bitcoin that employs the Lyra2RE algorithm (v2).

The MonaCoin network's 1.5-minute transaction processing time and devoted, active community are among its most valuable features. Following a TV commercial promoting the joke crypto, the meme crypto became well-known in Japan.

Given its meteoric rise to an all-time high (ATH) of $20.33 in December 2017, MONA is one of the most valuable meme cryptocurrencies in terms of price.

MONA coin - best meme coins to invest in

Samoyed Coin (SAMO)

Samoyedcoin (SAMO) is a Solana meme coin that was made only for community ownership. Sam Bankman-Fried, a well-known Solana supporter and the proprietor of the FTX cryptocurrency exchange, and Anatoly Yakovenko, the founder of Solana, came together to form Samoyed Coin. Due to its primary goal of bringing more users into the cryptocurrency realm through a fun-themed digital asset, the Samoyed Coin has become a well-known meme coin on the Solana blockchain as well as the larger crypto market.

Samoyed Coin (SAMO) - best meme coins to invest in

Tamadoge (TAMA)

Tamadoge (TAMA), the native cryptocurrency and utility token of the Tamaverse, is also worth considering as the best meme coin to buy. This cryptocurrency is another addition to the DOGE community, but it differs from other meme tokens in some important ways. First off, Tamadoge is a multi-utility token that players may use to take part in a variety of play-to-earn (P2E) functions, unlike Dogecoin, which gained popularity through social media support.

Tamadoge also aspires to be a deflationary token. While TAMA aspires to have a maximum quantity of 2 billion tokens, Dogecoin has boosted its token supply from 100 billion to 132 billion. This will assist in perhaps increasing the token's long-term value.

Also, Tamadoge will investigate partnerships with other well-established metaverse initiatives by 2023, according to information and data from the whitepaper for the project. Additionally, a lot of attention will be paid to CEX agreements in order to improve Tamadoge's performance on the blockchain.

Tamadoge (TAMA) - best meme coins to invest in

How to buy meme coins

The most popular meme coins, including DOGE and SHIB, may be purchased on cryptocurrency exchanges like Binance. For other, less well-known meme coins, you can visit decentralized exchanges like Coinbase. You need to first purchase Ethereum (ETH), and then use ETH to purchase meme coins. Here is how you can buy meme coins using Coinbase Wallet.

Step-by-step guide on how to buy meme coins on Coinbase

Step 1: Install and sign up for a wallet on Coinbase.

Step 2: Recognize and prepare for Ethereum network fees

Step 3: Purchase and send ETH to your Coinbase Wallet

Step 4: Use ETH to purchase preferred meme coins in the trading tab.

- On Coinbase mobile app:

Click the Coinbase Wallet App image.

Step-by-step guide on how to buy meme coins on Coinbase

Select the "Trade" option to exchange ETH for any token that adheres to ERC-20 tokens.

Select a meme coin that you want.
Enter how much ETH you want to trade for a meme coin.
Confirm your purchase and adhere to the on-screen instructions.

- On Coinbase browser extension:

Click "Convert".
Select a meme coin that you want.
Enter the number of ETH you want to trade for meme coins
Budget for transaction costs.
Verify your purchase and adhere to the directions displayed on the screen.

3 facts about meme coins

Difference between meme coins and cryptocurrencies

Meme coins are a sort of cryptocurrency, but there is a key distinction—and it has to do with utility—between cryptocurrencies like Dogecoin and Shiba Inu and currencies like Bitcoin and Ethereum.

Practical utility

Leading cryptocurrencies like Bitcoin and Ethereum were created to address pressing issues. The objective is to eventually gain merchant acceptance, develop a new type of decentralized currency, and revolutionize a number of industries.

The majority of meme coins, on the other hand, were developed as a means of making quick money and currently have no real-world use. Some of these coins have become well-known due to the celebrity endorsements that they receive, and retail investors have driven up their prices by extensively advertising them online. Because of this, these coins frequently grow rapidly despite having weak fundamentals.

Longevity

Many investors sell soon after their prices rise in order to earn a rapid profit. Meme coins now have no real function, so it's unlikely that they will still exist in a few years or decades. Meme coins' prices will probably fall once investors switch to a different stock or cryptocurrency.

Meme coins price

The price of meme coins has quite fluctuated since they are community-based cryptocurrencies, however, as of writing, there has been a slight increase in most popular meme coins.

Besides, currently, $TAMA, the native token for the Tamadoge network, is in its presale phase and hasn’t been listed yet. However, in the presale phase, fans can purchase 1 TAMA for $0.001. When the real presale starts, early TAMA token owners are anticipated to benefit more than ten times over, based on the well-known fact that Dogecoin, a fellow meme coin, surged in value by 12,000%.

Best meme coins to invest in

Meme coin price prediction

Despite a sharp drop in value over the previous eight months, online forums still provide a lot of support for Dogecoin. Therefore, any combined retail trader purchases may push DOGE closer to the $0.3500 level by the end of 2022, according to AnalyticInsight. By the end of 2023, if the development team adds more use cases, Dogecoin's price might reach $0.6000. By the end of 2024, the Dogecoin price might rise by 500% from its current level, reaching $0.7300.

SHIB is up 4.38% on the most recent day and is currently trading at $0.000013, keeping pace with the overall cryptocurrency market. According to the most recent reports, studies, and price predictions for Shiba tokens from Digital Coin Price, the coin may cross $0.0000178 by the end of 2022 and reach a new high of $0.0000254 by 2025 if the team continues to add more utilities to Shiba ecosystem.

FAQs about the best meme coins to buy

Should I invest in meme coins?

Even though investing in meme coins has the potential to be profitable, doing so is extremely hazardous and more similar to gambling than actual investing. You might turn a profit if you happen to buy and sell at the ideal moment. However, the likelihood that you will lose all or most of your investment is higher.

Focusing on investments that are anticipated to do well over the long term is a superior strategy. Since cryptocurrency, in general, is still quite speculative, its future performance is unknown. But if you do decide to invest in cryptocurrencies, be sure to pick assets that have solid fundamentals and are more likely to endure over time.

Can anyone make a meme coin?

Anyone can design a meme currency, sell it, and make a significant profit. All you have to do is utilize the MetaMask tool or take the source code of another token to make a new crypto-coin based on it.

Can Dogecoin reach $1?

In order for the coin to reach $1, that amount would have to reach $80 billion. That would require a substantial cash input into DOGE, which seems incredibly implausible. However, there's always a potential that another Bitcoin bull market could emerge once the world economy starts to rebound.

Disclaimer:
This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.

Which are the best meme coins to invest in?