Meme Coins: The Unexpected Crypto Power Players

Ok, let’s dive into something that’s both fun and surprisingly impactful in the crypto world: Meme Coins. Love them or hate them, these playful tokens are a force to be reckoned with, and here’s why.

The Meme Coin Phenomenon: A Gateway to Crypto

Meme culture in crypto is more than just a trend; it’s a powerful onboarding tool. These coins, often seen as the lighter side of crypto, have introduced thousands to the blockchain world. Doge and Shiba, for instance, aren’t just cute mascots; they’re top-20 coins with billions in daily volume, recognized globally.

I’ve always been a bit cautious about jumping onto the meme coin bandwagon and hype, but I realized something crucial over the years – by not embracing all aspects of crypto, you will often miss out on a lot of fun. So, these days I make sure to experiment in all aspects of Crypto, leaving no stone unturned and it has been quite profitable in doing so.

Predicting the Next Big Meme Coin

Every bull market has its star meme coin – Doge in 2017, Shiba in 2020. For 2024, I’m betting there will be a new player. My eyes have been on Solana for a while and Im expecting huge inflows to Solana ecosystem coins, so we can’t look past $BONK. It has strong support from the Solana community and impressive integrations into the ecosystem already, but being early means its already had some peaks and a market cap of around $600 million isn’t leaving much room for multiples.

One contender I’m paying close attention to from Ethereum is $FUFU (Twitter Account). It’s relatively new, but after chatting with the team and understanding their vision, I’m intrigued. It boasts an algorithmic trading bot, a strong burning mechanism, plenty of big names behind it and a nod to Chinese superstitions with a supply of 8.888 billion for this ancient Chinese dragon dog lion creature. The Chinese Year of the Dragon is due to start in feb 2024, not sure if that was planned by the team or just a coincidence but we all know how much Chinese punters love that stuff. Plus, its low market cap under $10 million means there’s plenty of room for growth which is what we are looking for on these high risk opportunities.

During a recent AMA with the team I got a little look behind the curtain at some cool stuff they are building, in particular a contract based escrowed service for doing private OTC deals with a super clean user interface. They have some really strong marketing campaigns in the pipeline and I dare say some exchange listings are next, which will help with exposure to a larger audience and overall liquidity as the multiple markets create arbitrage opportunities for bots to start working their magic.

The Missed Opportunities and the Risks

$PEPE on Ethereum is a strong player, but like $BONK, its early boom during the bear market and current $600 million market cap doesn’t leave much room for those high multiples meme coin investors chase. I feel like its had its run and any rally it has during the coming bull market may be short lived or just not offer the upside other coins will.

Be super careful about random new coins popping up or coins that mimic other popular name. You should always refer to coingecko for the official contract address or links that take your directly to the marketplace of choice. Avoid the really silly and super reactive coins based on recent news or politic events as well, these never last long, dog coins seem to be the flavor of choice when it comes to Crypto enthusiasts.

So, what’s my take? Keep an eye on $FUFU and $BONK, but remember, the meme coin space gets crowded fast, and with that comes diminished returns. Play smart, research well, and as always, gamble responsibly.