Memecoins once a joke, now they bring investors millions of dollars in returns this Christmas
Memecoins started with Dogecoin, which is also based on the meme Doge; a particularly funny looking Japanese breed of a dog, Shiba Inu, that became famous all over the internet due to the “much wow” meme which used its picture.
When the other coins were trying so hard to beat Bitcoin BTC at its own game, the creators of Dogecoin had other ideas. They wanted a coin that was literally made as a joke or an internet meme.
There was no proof of work or of stake, there was an endless supply as well that anyone and their mother can buy a dogecoin. The goal wasn’t to moon, it was to make a cryptocurrency that parodies cryptocurrency, and they succeeded. . . Elon Musk himself now supports Dogecoin as well as many other internet icons.
Meme coins have been flying in value due to the Christmas holidays approaching. Crypto
Experts say this is normally a big time in America where users and investors will try to bring in as much profits as they can to end the year. The new year always brings tons of new investors and opportunities for new investors to get in early and learn how things work.
Toon Finance seems to be the market leader this Christmas as the new ICO sells out stage 2 just in time for the Holidays. The team already dropped a swap platform on their website that can be found below. Read on to see why Toon Finance is the leading ICO this year and learn more about meme coins and how they can make you a millionaire.
Elon Musk supports crypto meme coins to be specific
Elon Musk, CEO of Tesla and SpaceX, changed the world of cryptocurrency pretty much overnight when he started to endorse Dogecoin DOGE. While people were trading Dogecoin, everyone knew it wasn’t really anything.
After all, it was created as a joke to begin with. But that all changed when Elon Musk started endorsing the coin on his Twitter profile and drove the coin to the general consciousness leaving every trader on this planet and probably Mars, buying the coin.
While Dogecoin DOGE is still cheap, no one expected its current price, saying that it made thousands of people into overnight millionaires is no overstatement.
Memecoins are profitable
Because of the success of Dogecoin DOGE, people saw the HUGE potential that low value, high volume tokens have when it comes to making money. After all, if it could be done once, then surely it can be done again?
If others can become millionaires because of a joke of a coin then surely I can hedge my bets on each and every memecoin that pops up on the market right? After all, it is worth investing $10 in to try and make a few thousand dollars right? It has been done many times before with Dogecoin, BabyDogecoin, Elon Doge, Safemoon , Hogecoin and many more.
Well, who knows? Calling cryptocurrency volatile is like saying bombs are loud. Since the “success” of Dogecoin DOGE, thousands of others have also become millionaires and are very much willing to repeat their success by investing in other memecoins.
This further drives people to buy memecoins with no use case which can be argued that gives them inherent value.
While more and more memecoins pop up, and more and more people become rich with memecoins, there is of course a different side. After all, the only way for one person to become rich in crypto is if another person paid for it.
While there are many winners and losers with memecoins, there is one thing constant, it’s that it may happen again and that millions are very much willing to try to repeat Dogecoins success, over and over and over again.
So we look at 3 memecoins that are incredibly popular right now so we can see how these coins are doing and if you can expect them to produce value for you.
None of this is financial advice, cryptocurrency is a volatile space with even a coin with no use case or inherent value suddenly making thousands of people into millionaires.
Is Dogecoin DOGE a good investment?
Dogecoin is the OG memecoin, and it’s the coin that unwittingly started it all. While the makers of the coin probably never imagined that the joke coin they designed to be practically worthless was suddenly turning people into millionaires, it doesn’t change the fact that it has value on multiple bases.
Dogecoin DOGE has high demand due to popularity and Elon Musk’s endorsement
While Dogecoin DOGE is not the most expensive memecoin out there, it is undeniable that it is the most popular. High volume of Dogecoin DOGE is being traded everyday which means that there’s simply a huge demand for the coin, this also means that there are always people interested in it.
This further provides confidence for people in the market as they believe that the coin will always have demand. A coin having demand means a lot of things, but most importantly it means that there will always be demand and that the coins will never be worthless.
If you would have invested just $100 in Doge when the joke currency was founded you would be a multimillionaire today. This is a fact when it comes to memecoin investing.
Know your next move and make it quick because these opportunities come every once in a while and you have to have an eye for the projects that are truly making a difference like Toon Finance which is the Lead Market Cryptanalysis’s top choice this week .
Dogecoin DOGE has no competition, unique among memecoins
You’d think that with the tons of memecoins out there, all with the same template as Dogecoin DOGE with low value and high volume, that Dogecoin DOGE will be replaceable. Well, if you think that, you’d be wrong.
The thing is, Dogecoin is unrivalled as a memecoin, and there are a few reasons why. First, Dogecoin DOGE is the first and original memecoin, there can’t be two firsts, and Dogecoin DOGE alone has that honor.
Second, Dogecoin DOGE is regularly pumped by Elon Musk through Twitter. While it is arguable if Elon Musk made Dogecoin more popular or not, the undeniable truth is that Elon Musk made Dogecoin DOGE more valuable. That’s why people are always ready to spend some cash on Dogecoin.
Finally, Dogecoin has inherent cultural value. This may sound weird, or irrelevant, but the truth is even if all memecoins are forgotten, some people will still buy Dogecoin DOGE. It’s a meme, it’s certainly the first meme cryptocurrency and there is no other like it.
It is similar to Bitcoin BTC in this regard. Anyone who tries to “out meme” Dogecoin DOGE is bound for failure simply because it really is the first and that it promised nothing but to be a joke, and it is.
Is Dogecoin DOGE a good investment?
Current cryptanalysis shows that Dogecoin might drop to as low as .09090 this December 2022.
While Dogecoin DOGE might go up in the future, it doesn’t change the fact that the coin was made to be worthless and in a way it also hurts Just as much as it helps that Elon Musks is regularly endorsing the coin making it incredibly volatile, and that’s saying something since this is crypto we’re talking about.
Our expert opinion? It’s good to have but not necessarily to hold.
Is Shiba Inu SHIB a good investment?
Before we discuss whether or not SHIB is a good investment, let’s see first what it is in the first place.
What is Shiba Inu SHIB?
Shiba Inu SHIB is a cryptocurrency token that runs on the Ethereum blockchain. It was created as a decentralized autonomous organization (DAO) and governed by its community. The token’s name is derived from the Shiba Inu dog breed, which is widely popular among crypto enthusiasts.
The project has been described as an experiment in decentralization and community building, with its purpose being to enable users to own and control their assets without intermediaries or centralized authorities.
Shiba Inu SHIB tokens are designed to be used for transactions, payments, staking rewards, exchanges, utility services and other activities within its ecosystem. The team behind the project also aims to launch a network of applications that will let users earn rewards while using their digital assets earned or bought through Shiba Inu SHIB P2E games.
What are the things that make Shiba Inu SHIB a good investment?
One thing certainly comes to mind when thinking about Shiba Inu SHIB as an investment, P2E or Play to earn.
Shiba Inu SHIB developed their own play to earn game that allows players to buy SHIB and use it on the game. This is a good sign since there is not only a use case, but also a product. All good businesses have something to offer, or else that’s called a Ponzi scheme. Shiba Inu SHIB having its own game is a sign for better things in the future.
The problem with Shiba Inu SHIB as an investment
One of the biggest red flags for SHIB is the fact that it hasn’t mooned or recovered anywhere near its previous price despite the fact that it already has its own game. While having a product is good, if it doesn’t change the value of the token you invested in then the investment becomes problematic.
Is Toon Finance Token TFT a good investment?
Toon Finance is a relatively new comer but with outstanding performance. Since the tokens went for sale, it has practically doubled in price.
What is Toon Finance?
Toon Finance is an extreme DeFi (decentralized finance) project that aims to provide decentralized financial services and it’s starting with its own decentralized exchange DEX called Toon Swap. Toon Swap is a robust DEX with a clean UI and solid performance. It is one of the many products and services we can expect from Toon Finance.
Toon Swap offers a lot of performance despite the fact that it’s relatively new compared to Pancake Swap and Uniswap.
And while people can now use Toon Swap for trading, this is only the start. Once Toon Finance gets further with their development, we can expect features such as Space Farming, a staking program that will allow users to earn without doing anything.
Apart from Space Farming, there’s also the Space Bridge that will allow multi-chain interaction. This will open up a lot of options, especially for P2E play to earn games and NFT games. Finally, there’s Space Battlegrounds, a much anticipated feature that is expected to turn Toon Finance from a good investment to a must have one!
Space Battlegrounds is the P2E aspect of Toon Finance and unlike other P2Es, Toon Finance doesn’t plan on overcomplicating its P2E offering. Toon Finance has one goal, and that is to encourage token movement on its DEX, Toon Swap. That’s why Space Battlegrounds will allow players and spectators to bet on the results of the games so they can earn tokens while watching.
This will move massive amounts of token, further encouraging other tokens to list on Toon Swap and the more token pairs there are, the more that uses Toon Swap, creating a cycle of growth.
Dogecoin DOGE is undeniably an unforgettable part of the internet and cryptocurrency culture that makes it unmatched as a beloved memecoin but can be shoddy as an investment. Great for trading, not much for holding.
While Shiba Inu SHIB is a memecoin with a use case that still hasn’t found its footing despite having a product. The question of a good investment for a memecoin definitely goes to Toon Finance Token.
Not only is the coin’s performance telling, the fact that unlike other memecoins, Toon Finance is high value and low volume, opposite of most if not all other memecoins out right now, shows that Toon Finance is a unique investment that’s definitely worth taking a look at.
Toon Finance Website and Presale links below :