Anyone who has invested in cryptos has had to have a high degree of endurance in recent months. Since the Terra/Luna crash in May, the mood in the crypto markets has been rather icy. Experts are talking about a crypto winter. But every crypto winter is followed by a crypto spring. Every major stock market crash was eventually followed by a recovery. They also still exist – the coins that buck the trend. Often enough, the memcoins were and are part of it.
What exactly are meme coins?
Meme coins are actually fun cryptocurrencies. They do not pursue a specific goal like other cryptos or blockchains that want to revolutionize the financial sector or turn blockchain technology upside down. The dogecoin, for example, was created as a satire on Bitcoin, which was also clearly communicated by the developers. However, this did not stop the community from buying DOGE and thus causing price explosions.
This brings us to the issue of tokens. Meme coins are extremely volatile. They rely solely on the beliefs of their community and tend to be smiled upon by experts. Dogecoin shows that they can also be quite wrong. It is now the 10th most popular cryptocurrency with a market cap of $9.2 billion. So you can definitely make money by having fun.
Meme coins that could explode
Small investors in particular are interested in coins that they can buy cheaply. Because let’s be honest, even if Bitcoin and Ethereum have fallen, 23,000 euros for a BTC and 1,500 euros for an Ethereum is still a lot of money. Meme coins and new coins like IBAT, on the other hand, are relatively cheap and this can definitely drive up prices.
Battle Infinity (IBAT)
Admittedly, IBAT is not quite a meme coin. Rather, it is the initial token for the future Play to Earn platform Battle Infinity. The coin sale has been running since mid-July. The platform itself wants to create a multiverse of metaverse and thus revolutionize or redefine blockchain gaming. A total of six products are planned on the platform, all of which interlock to form a complete ecosystem.
Fantasy Sport – the nerdy billion dollar market
At the heart of Battle Infinity is the IBAT Premier League, the world’s first NFT-based and decentralized fantasy sports game integrated into a Metaverse game. If you frown at the term fantasy sports and think that no one plays it anyway, you are very wrong. If the statistics are to be believed, about 57 million people played in a fantasy league in 2019. The market is worth billions – about $8.2 billion, and that’s just an estimate. IBAT has developed nicely in the first 10 days after the pre-sale started. Meanwhile, the soft cap of 2000 BNB has been reached and about 17% of the coins available for the presale have been sold.
Cryptocurrencies featuring dogs, especially those depicting Japanese dog breeds, are popular among crypto investors. The two best known are probably Dogecoin (the one with Dogefather Elon Musk) and Shiba Inu Coin. Incidentally, 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, launched in 2020. By comparison: Bitcoin – the mother of all cryptocurrencies – was launched in 2009 and is therefore a crypto-dino, so to speak.
Shiba Inu – popular among the whales
The SHIB was created by a person named Ryoshi, who has been as unknown to this day as the creator of Bitcoin Satoshi Nakamoto. Within a very short time, the Shiba token had a large community and became very successful within months. The coin then reached its highest level in October 2021. But of course the SHIB was not spared from the crash either. The rate is currently €0.00001146. The Shiba coin is apparently particularly popular with whales. In April, the top 1,000 Ethereum wallets housed $1.6 billion worth of SHIB.
Check out the top 100 whales here: https://t.co/N5qqsCAH8j
— WhaleStats (free crypto whale data) (@WhaleStats) 19 July 2022
Shiba Inu’s white paper is called Woofpaper. The company supports the Shiba Inu Rescue Association, which is dedicated to protecting the Japanese dog breed.
Let’s stay with 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 baby dog has also caught the eye of Elon Musk. But it could also be because the coin was developed in the Dogecoin community. The coin should also have gained some awareness in Germany, at least among soccer fans. Babydogen is a sponsor of TSG Hoffenheim and together with the club wants to focus on the development of club-specific NFT.
Baby dog without goals? Not quite
Usually, meme coins don’t have a specific goal. But exceptions are known to prove the rule, and the baby dog is one of them. The coin has an intelligent betting system that hodlers benefit from. A fee is charged for each transaction with the token. 5% of this goes directly back to the owners as a baby dog. But to prevent inflation, the coins are burned regularly, after all learning from the mistakes of the past (of course that means Terra/Luna)
The rate is currently €0.000000001324, so it is definitely within the affordable range.
The greatest blessing to thousands of people worldwide, we are eternally grateful! pic.twitter.com/GWYdkau61N
— Baby Doge (@BabyDogeCoin) 1 July 2022
Babydoge is a real feel-good coin. The company helps dogs in need. For this purpose, a special charity purse was created. So far, $75,000 has been donated to Paws with Cause and $100,000 to Best Friends Animal Society.