Although Bitcoin has gained widespread recognition, it is far from being the only cryptocurrency available. The popularity of meme-based currencies like Dogecoin has spawned other imitators, such as Dogecoin offshoots Shiba Inu, Big Eyes Coin, Samoyedcoin, and Doge Dash.
Even though these coins are usually made as a joke, they have the potential to become popular. For instance, Dogecoin’s value skyrocketed in May 2021 before stabilizing, and the coin is now ranked tenth in market capitalization by CoinMarketCap.
This is not the only interesting thing about meme coins; there is a lot going on in the market at the moment, and it’s all fascinating. Whether you’re an investor or not, the drama surrounding a lot of the behind the scenes (and not so behind the scenes) of individual meme coins is intriguing. Below are just some examples of what has been happening in the world of meme coins of varying types in recent weeks.
Zcash’s InvestorsObserver Sentiment Score has trended Bearish during the past week. Zcash’s volume and price changes over the past five days are what the Sentiment Score considers when calculating its performance.
The Sentiment Score gives you an instant, short-term snapshot of the crypto’s current status. The short-term trader who wants to ride a rise and the long-term investor who wants to buy a downturn can both benefit from this.
If you were a trader right now, what would you think of Zcash? It really depends. If you want to make fast money, you will steer entirely clear thanks to its rapidly falling rates. If you are in this for the long term, you might take a moment to consider. However, it’s wise to look at the coin over a few days or weeks rather than just considering what has happened in the past. In that way, you can be sure of your decision, even if it’s a risky one.
Shiba Inu Coin Rises
The market as a whole is up 25 percent since January 24th, 2022. This has been driven primarily by altcoins (cryptocurrencies other than Bitcoin), which may indicate that investors are developing a taste for more volatile currencies.
An upswing after a drop is typical, and investors are usually behind them. When the price of a coin is low, they rush in to buy it, pushing the price back up. The term “buy the dip” describes how frequently this occurs among investors.
What has this got to do with Shiba Inu? One of the most popular meme coins on the market is a Shiba Inu. The “Dogecoin killer,” as it calls itself, has turned out to be much more than just a joke coin. As it gets more investors, many people are trying to figure out how to predict the Shiba Inu coin price and what the future holds for it.
Cryptocurrencies have had a turbulent 2021 and 2022, but the upheaval has created a favourable environment for the Shiba Inu coin. This meme coin is quickly becoming the dominant cryptocurrency and has proven to be a wise investment. In other words, Shiba Inu coin is rising in more ways than one.
Takeover Presale Madness
Both Toon Finance and Big Eyes have had some interesting news in the presale department.
Memes on the internet have proven to be profitable business opportunities as well as amusing diversions for people. These meme coins’ meteoric rise to fame can be directly attributed to their quirky sense of humor. In the ever-evolving world of NFTs, where new forms of economic activity are continually emerging, meme coins like Toon Finance are rising to the top.
Even if the fact that most meme currencies begin life as online jokes is generally enough to put off serious investors, the insights become apparent when the role of NFTs in the rapidly expanding metaverse is taken into account. Investing in NFTs is the doorway to the metaverse, so don’t leave it open if you want to join in on the fun. The meme coin bandwagon is growing rapidly, and there is a lot of momentum behind it thanks to the proliferation of NFTs.
If you’re serious about investing in the blockchain and related technologies, NFTs could be a promising asset class to consider. Toon Finance is the newest addition to the growing number of NFTs that have emerged alongside the rise of Web3.0 markets.
Toon Finance, a meme coin that is competing with DogeCoin, which is affiliated with Elon Musk, has been receiving a lot of attention recently. The coin has achieved so much popularity that it is now the most popular meme on Crypto.com.
If you’re looking to invest in meme coins, you should put Toon Finance at the top of your list because of its practical applications, active community, and talented team of artists and blockchain developers. Given that Toon Finance is still relatively new to the cryptocurrency market, its popularity is likely to continue to climb.
It has been the subject of millions of Google searches and is frequently included in “best of” lists for internet meme currency. The success of Toon Finance’s Stage 2 ICO presale will probably depend on the momentum gained as the company storms through Stage 1 of the presale. Their stage 1 ICO presale this year was so successful that they were able to raise nearly $3 million in just one week.
Big Eyes coin is another interesting presale story. Big Eyes Coin is currently at stage six of its presale, having raised over $8.5M to date. Investors can’t get enough of the meme token, which has a big-eyed cat as its symbol.
The goal of the community-driven token Big Eyes Coin is to inject capital into the DeFi network. Since the advent of blockchain technology, a number of DeFi (decentralized finance) coins have entered circulation with the express goal of radically altering the global monetary system.
As NFTs have gained worldwide acceptance, Big Eyes Coin has made every effort to accommodate this trend. NFTs have always played a significant role in the development of this meme token. For this reason, Big Eyes Coin is introducing a fully functional NFT club where token holders will have access to exciting new NFT events.
Big Eyes currency is more charitable than other meme coins as well. It has committed a sizable portion of its future pocket earnings to ocean protection organizations. Big Eyes Coin’s aim to address the environmental concerns that have been raised about cryptocurrencies is likely what attracted investors to its presale.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.