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Memecoins are one of the most lucrative investments in the DeFi market. Projects like Dogecoin (DOGE) and Shiba Inu (SHIB) historically offered huge returns for early investors, putting memecoins on the radar worldwide. While some believe it may be too late to capitalize on these market leaders, there are more opportunities now than ever to profit from new memecoins.
That being said, it's important to understand the market before you buy. Memecoins are inherently riskier than some traditional investments, which makes doing your market research essential. This article will break down 10 of the best memecoins you can buy in 2023 to 10x your return.
Collateral Network (COLT) has the entire cryptocurrency market excited with the potential to revolutionize a market while offering memecoin returns. Currently in its presale, Collateral Network (COLT) is expected to surge from $0.01 to $0.35 over the next six months, which would make Collateral Network (COLT) one of the crypto industry projects with the highest returns.
Collateral Network (COLT) looks to disrupt the crowdlending market by letting individuals borrow against their physical assets using blockchain technology. Through raising a loan on-chain, borrowers can liquidate high-value physical assets without selling them permanently.
To get started, borrowers can send their assets directly to Collateral Network (COLT), which uses artificial intelligence (AI) to accurately value assets and generate algorithmic lending rates to guarantee fair rates. Once valued, each asset is brought on-chain as an NFT and fractionalized. Fractionalization lets smaller lenders offer a loan without needing the total amount upfront, thus allowing several investors at once.
Each lender will earn a fixed interest rate on their loan, allowing them to generate a passive income. This rate will be agreed upon upfront to ensure both the lender and borrower are happy with the terms of the agreement.
To optimize the user experience, Collateral Network (COLT) is compatible across blockchains with plans for additional bridging to improve transaction speeds and reduce gas fees. Collateral Network (COLT) has also been fully audited, and the team has been doxxed to give early investors peace of mind.
Aside from being a blockchain alternative, Collateral Network (COLT) also offers several advantages over traditional crowdlending. Firstly, Collateral Network (COLT) is extremely private. Transactions are made discreetly and will never impact the borrowers' real-world credit rate. Additionally, Collateral Network (COLT) allows for borderless transactions, meaning borrowers are no longer limited by any physical restrictions.
Suppose a borrower defaults on their loan repayment. In that case, their asset will be sold at a private auction, exclusive to Collateral Network (COLT) token holders. During these auctions, Collateral Network (COLT) token holders can buy distressed assets below market price.
Collateral Network (COLT) recently increased from $0.01 to $0.014 during its presale, rewarding bullish investors in just a few weeks. With projected price surges of 3500% and additional increases once Collateral Network (COLT) is listed on major exchanges, investors and market experts believe that Collateral Network (COLT) could be the new memecoin the market has been waiting for.
Dogecoin (DOGE) was the world's first memecoin to hit mainstream audiences. Despite rising to popularity in 2021, Dogecoin (DOGE) was ironically founded to mock the cryptocurrency market in 2013. The project famously uses a photo of the Shiba Inu dog, which has now become popular throughout memecoins.
After being sold by its founder, Dogecoin (DOGE) quickly rose to fame in 2021 following a huge price surge that took Dogecoin (DOGE) to an all-time high of $0.7316. For context, its price was $0.00268 just one year before.
Dogecoin (DOGE) now has one of the most active cryptocurrency communities in the world. Dogecoin (DOGE) fans create memes and hype about the project on social media, famously stating that Dogecoin (DOGE) is 'going to the moon.' The memecoin has also been praised by celebrities and influencers worldwide, including Elon Musk, who openly voiced his support for Dogecoin (DOGE) on Twitter. However, Elon has since stated that his interests have moved from cryptocurrency to AI, which has been a major blow to the Dogecoin (DOGE) community.
Nonetheless, Dogecoin (DOGE) has continued to thrive. The cryptocurrency is used on hundreds of crypto gambling sites worldwide, and a recent hint of a collaboration with the fast food chain Burger King has many Dogecoin (DOGE) investors excited about the project's future.
That being said, Dogecoin (DOGE) lacks any unique utility to give it a real competitive edge in the future of the crypto market. As a result, many analysts believe that Dogecoin (DOGE) is currently fully reliant on market trends to increase in value.
With bullish market trends on the horizon, this is currently good news for Dogecoin (DOGE) investors. At the time of writing, Dogecoin (DOGE) has increased in price by 10.13%, with one Dogecoin (DOGE) token currently selling for $0.09241. This recent surge marks a price increase of 24.56% in the last month and has caused Dogecoin's (DOGE) daily trading volume to increase to over $1 billion.
Shiba Inu (SHIB) was created to rival Dogecoin (DOGE) in August 2020. The project was created by a developer using the pseudonym Ryoshi, who claimed that Shiba Inu (SHIB) is an experiment focused on governance and decentralization. Upon launch, Shiba Inu (SHIB) was nicknamed the 'Dogecoin Killer' and grew exponentially in just a few months.
By October 2021, Shiba Inu (SHIB) had increased in value from $0.0000000002 to $0.000022 before hitting all-time highs of $0.00008616. The project has since lost a significant amount of its value. Much like most memecoins, Shiba Inu (SHIB) crashed during the 2022 bear market, with one token selling for $0.00001154 as of April 2023.
Although initially designed as another memecoin, Shiba Inu (SHIB) is diversifying its use cases to become more influential throughout the market.
Shiba Inu (SHIB) plans to release a layer-2 protocol called Shibarium in 2023. Shibarium will expand the Shiba Inu ecosystem, allowing lower fees, faster transactions, and greater scalability.
At the same time, Shiba Inu (SHIB) tokens are being burned at record rates to reduce the number of tokens in circulation. By reducing this number, investors hope to further increase Shiba Inu's (SHIB) value. So far, this has been a success, with Shiba Inu (SHIB) increasing by 5.48% to $0.00001154 in the past month.
Floki (FLOKI), formally known as Floki Inu, is an innovative memecoin that looks to offer great utility as well as memecoin level returns. Known as 'The people's cryptocurrency,' Floki (FLOKI) is designed to help create awareness about blockchain technology and bridge the educational divide between everyday individuals and crypto investors.
Floki's native token FLOKI, has been inspired by memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE), though it plans to diversify itself with three unique utility projects.
The first project is called Valhalla. Named after the majestic hall in Norse mythology, Valhalla is a play-to-earn NFT gaming metaverse that lets players explore islands. Starting on Floki island, players can win a number of in-game rewards and interact with buildings such as:
As part of the gameplay, 'Vikings' can explore the world and raid other islands. To get to different islands, players must use ships, which are fully customizable NFTs.
The second project offered by Floki (FLOKI) is FlokiPlaces, which lets investors buy physical goods, including unique Floki (FLOKI) merchandise, such as mugs and shirts.
The third project is FlokiFi. FlokiFi is a digital asset locker that's already been used to secure over $24 million worth of DeFi assets. FlokiFi has been audited by Certik and aims to become the industry's most innovative protocol for securing digital assets.
Floki (FLOKI) is available on Ethereum and Binance Smart Chain, which makes it highly compatible with many of the crypto markets' top digital assets. Floki (FLOKI) tokens can be purchased on 1Inch, ApeSwap, Crypto.com, PancakeSwap, and several other exchanges, with one Floki (FLOK) token selling for $0.00003758.
Bone ShibaSwap (BONE) is the governance token of the ShibaSwap ecosystem. Using Bone ShibaSwap (BONE), investors can buy NFTs known as Shibosis, stake, swap cryptocurrency, and vote on upcoming proposals. The more Bone ShibaSwap (BONE) tokens an individual holds, the more weight their vote has on future policies.
At launch, one quadrillion Bone ShibaSwap (BONE) tokens were in circulation. However, 50% of this supply was locked in Uniswap, and the remaining 50% was sent to the Ethereum co-founder, Vitaloki Buterin. Buterin used this donation to help limit the impact of COVID-19 in India and burned 40% of the total supply to guarantee long-term success and stability.
As part of ShibaSwap, Bone ShibaSwap (BONE) has partnered with Shiba Inu (SHIB) and LEASH to offer various opportunities. Investors on the platform can DIG (offer liquidity), BURY (stake), and SWAP tokens to earn WOOF returns. This lets investors generate passive income while supporting a unique new NFT marketplace.
Dogelon Mars (ELON) is a new dog-themed memecoin built on Ethereum and Polygon. Dogelon Mars (ELON) looks to build on current dog-themed memecoins in the market. The project's name uses Dogecoin (DOGE) combined with Elon Musk, who has been a prominent influencer throughout the memecoin market. It also mentions Mars as a spin on the 'going to the moon' phrase used by many market enthusiasts.
First launched in 2021, Dogelon Mars (ELON) has already built a huge community of over 300,000 followers on Twitter and 84,000 followers on Telegram. However, the Dogelon Mars (ELON) development team wanted to make the project launch as fair as possible and opted out of any team tokens. Instead, almost 50% of the Dogelon Mars (ELON) supply was sent to Vitalik Buterin, who donated the tokens to the Methuselah Foundation.
Dogelon Mars (ELON) can currently be found on Uniswap with an ELON/ETH pair. Following the launch, all liquidity provider tokens were burned, and the founders encouraged the Dogelon Mars (ELON) community to donate ELON tokens to victims of scams to compensate for their losses.
Dogelon Mars (ELON) recently announced that they will release an NFT collection with a new governance token to help expand their ecosystem. Dogelon Mars (ELON) is currently available for $0.0000003308 per token, with an average daily trading volume recently hitting $3 million.
PEPE, the token that sprouted out of the "pepe the frog" meme, has rocketed to a $502 million market cap following a 2,100% rise since it was issued last month.
According to Ethereum block explorer etherscan, PEPE has around 75,000 holders with several wallets – excluding centralized exchanges – holding in excess of $5 million worth of the tokens.
The PEPE token surged by 350% over the weekend alone, and derivatives exchange BitMEX on Tuesday said it is listing perpetual swaps for the token, which will allow traders to trade the volatile asset with as much as 50 times leverage.
While hype around the meme token continues to build, some early investors have been cashing out. One trader sold $2 million worth of the token using MetaMask swaps. They ended up losing $350,000 as they were hit with 25% slippage due to minimal liquidity.
Volt Inu V2 (VOLT) is one of the newest memecoins on this list. First created in 2022, Volt Inu V2 (VOLT) is a decentralized finance solution created on the Binance Smart Chain. The project offers several DeFi services, such as staking, liquidity provision, and yield farming, all underpinned by a focus on security, usability, and sustainability.
Volt Inu V2 (VOLT) uses VOLT as its utility token and offers a number of benefits to holders. These include trading discounts, governance and voting rights, and liquidity provision, in which liquidity providers can earn from transaction fees and trades.
To generate a passive income, token holders can stake Volt Inu V2 (VOLT) and earn VOLT tokens as a reward. 45% of the Volt Inu V2 (VOLT) supply has been held for staking rewards, which makes Volt Inu V2 (VOLT) a great opportunity for investors who stake memecoins.
In the past five days, the value of Volt Inu V2 (VOLT) has increased by 7.29%, with one token selling for $0.00000146. However, Volt Inu V2 (VOLT) is still down by 12.88% in the last month.
Bonk (BONK) was launched on December 25th, 2022, being airdropped to the Solana (SOL) community. It's dedicated to the Shiba Inu dog and was launched as part of the Bonk DAO. Bonk (BONK) is deployed on Solana and is designed to support the Solana (SOL) community following the collapse of FTX.
Bonk (BONK) has quickly become a leading memecoin of the Solana blockchain community, though much about the project remains anonymous. Nobody knows who created the project; besides, Bonk (BONK) has a small digital footprint with only an active Twitter account. As of April 2023, Bonk (BONK) has no official whitepaper and no roadmap.
Nonetheless, on Twitter, it was stated that the developers plan to bring liquidity back to Solana-based decentralized exchanges. By sending Bonk (BONK) tokens to Solana NFT holders, developers, and artists, Bonk (BONK) aims to create a community coin where 'everyone gets a fair shot.'
One Bonk (BONK) token can currently be purchased for $0.0000009666, though with little to no information about its development, analysts are unsure whether Bonk (BONK) will increase in value.
ApeCoin (APE) is the memecoin used for the Bored Ape Yacht Club (BAYC) decentralized autonomous organization (DAO). Created by Yuga Labs to support the ever-growing BAYC ecosystem, Apecoin (APE) quickly surged in value to hit highs of $26.70 in April 2022. Although its value has since declined, Apecoin (APE) has great potential and will be used for gaming, merchandise, and voting in the BAYC DAO.
ApeCoin (APE) has mostly stayed under the radar in recent months, though it recently went viral on the South Korean exchange Upbit after a technical fault regarding trading routes. This fault caused the value of ApeCoin (APE) to hit $90 per token, with ApeCoin (APE) trading for $5.54 on other platforms at the time.
As a result, trading volume surged, with over four million ApeCoin (APE) transactions being made in less than a day. ApeCoin (APE) coverage has since died down though Apecoin (APE) remains one of the most traded memecoins in the market, with average daily trading volume consistently hitting over $100 million.
Memecoins were created as a funny joke. They often built on internet trends at the time (such as the Shiba Inu dog meme) and rarely had any utility or use in the DeFi market. As a result, much of their value came from community support on social media and celebrity coverage, as we saw during the rise of Dogecoin (DOGE).
However, many memecoins now use memecoin hype to support real causes in the DeFi and real-world markets. As a result, many have increased to multi-billion dollar projects and gained worldwide adoption.
Following the success of Dogecoin (DOGE), hundreds of projects attempted to enter the market to make quick profits. While many of these failed, new projects like Apecoin (APE), Baby Dogecoin (BabyDoge), and Collateral Network (COLT) are now offering unique use cases and impacting real-world markets with DeFi technology.
Dogecoin (DOGE) was the first memecoin to be created. First founded in 2013 by Billy Markus and Jackson Palmer, Dogecoin (DOGE) was created as a parody of a Shiba Inu dog meme that was circulating the internet at the time. The meme was used worldwide and had already built an audience of users who would type over the dog photo to create a meme.
Despite being created as a joke, Dogecoin (DOGE) became popular during the crypto bull market, sparking the rise of direct competitors such as Shiba Inu (SHIB). Both projects offered huge returns for investors who got involved early, though cryptocurrency investors heavily criticized them due to their lack of utility.
The memecoin market is now rapidly diversifying, helping raise awareness for charities while offering new DeFi applications in real-world markets. They've also become an accessible way for new cryptocurrency investors to get involved in the market, usually showcasing a significantly lower price tag than top cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH.)
Despite initially being reliant on market trends, memecoins now derive value in a number of ways. Here's how.
Online communities have become an increasingly important part of memecoins. Dogecoin (DOGE) and Shiba Inu (SHIB) are two great examples of memecoins that have used their community to build hype. Both projects have an active community of investors who create awareness of the projects using social media and memes. Two newer project examples are Apecoin (APE) and Collateral Network (COLT), which are growing rapidly due to the influence of their online communities.
A memecoin can quickly rise to fame based on how much it's expected to increase in value. While in the past this has been used maliciously by rug pulls and other scams, plenty of memecoins in the market offer huge returns and have the security and utility to back their claims.
Much like any investment market, memecoins will be influenced by fluctuations and supply and demand. If a particular memecoin is experiencing a surge in buy orders, its value will likely increase. Alternatively, a rise in sell orders will cause its value to drop. Memecoins are also heavily influenced by the general cryptocurrency market. During the recent bear run, most memecoins lost over 50% of their value. However, with the market currently bouncing back, many investors believe it's a great time to buy memecoins.
Not all memecoins are listed on large exchanges, which can make them more difficult to buy. To be listed on such exchanges, memecoins are often required to show their popularity and utility. Once accepted, they're more likely to be purchased as buyers have fewer loopholes to jump through.
There are currently over 340 memecoins in the DeFi market, according to figures by CoinMarketCap. As a result, it can be extremely difficult to find the memecoin that fits your expectations. To help you kick start your search, we've broken down the key factors you need to consider when buying memecoins.
When buying a memecoin you want to consider what market stage it is in. Memecoins in the early stages of their presale are more likely to offer larger returns than memecoins that are already established, though can often be riskier. While Dogecoin (DOGE) and Shiba Inu (SHIB) formally set records for their returns, Collateral Network (COLT) is likely to offer better returns during the next bull market due to its early market stage.
The majority of memecoins that fail lack one thing: utility. In the future, memecoins with better utility are more likely to succeed than those who are simply jumping on market hype. For example, ApeCoin (APE) has great long-term potential due to the growth of the BAYC community, while Collateral Network (COLT) could surge with its revolutionary application in the crowdlending market.
On the other hand, projects like Dogecoin (DOGE) which are still dependent on market trends and have already peaked are unlikely to offer huge returns. With the memecoin trend likely to eventually die down, those with greater applications will be the memecoins of the future.
Memecoins with great potential are unlikely to fly under the radar for very long. For example, before its price surge in 2021, Dogecoin (DOGE) was mentioned daily throughout the Reddit Group SatoshiStreetBets. This resulted in a huge surge in value, which later caught the attention of mainstream media worldwide.
Collateral Network (COLT) is now following a similar trajectory. Having already been mentioned in BeInCrypto, News BTC and the Economic Times, the project is rapidly gaining traction with hundreds of new investors buying Collateral Network (COLT) tokens daily.
Before making any investment it's important to conduct a risk analysis. With market volatility being high amongst the memecoin market, investors need to consider potential losses and gains. Many cryptocurrencies have historically shot up in value, only to crash in less than a week. Understanding the volatility and unpredictable nature of memecoins is extremely important before investing.
As one of the highest potential memecoins in this list, it's important to understand how to buy Collateral Network (COLT) tokens. Having already sold over 27 million COLT tokens, the project is expected to surge over the next few weeks, with additional increases of 100x once the project hits mainstream exchanges. To maximize your return, getting involved now is crucial.
With this in mind, here is a step-by-step guide on how to buy Collateral Network (COLT) tokens.
To get started, head over to the Collateral Network (COLT) website: https://collateralnetwork.io/. Click on the 'Buy Now' icon in the top right of the page and you'll be taken to a screen where you can create your account.
From here, investors need to create an account and choose the cryptocurrency they want to buy COLT tokens in. Options include Ethereum (ETH) and Bitcoin (BTC) as well as nine other cryptocurrency options.
Once an account has been created, you can choose to buy COLT tokens using 11 other cryptocurrencies. As Collateral Network (ETH) is an Ethereum-based project, COLT can be stored in ERC-20 compatible wallets such as MetaMask.
When buying memecoins investors need to consider whether or not they want to use centralized or decentralized exchanges. In general, centralized exchanges are significantly easier for new investors and are often considered safer due to their regulation policies. Decentralized exchanges on the other hand provide investors with anonymity and give them full control of their assets. Here are 2 options for each.
Binance is the world's largest centralized cryptocurrency exchange. With over 90 million users, Binance is widely considered one of the safest cryptocurrency exchanges in the world. Binance showcases 358 cryptocurrencies with over 1,420 trading pairs in total. Advanced buying options are also available for investors with more experience who want to use centralized exchanges.
Coinbase is a popular cryptocurrency exchange in the U.S. With a simple, easy-to-understand user interface and over 250 cryptocurrencies, Coinbase is considered the best investment platform for investors who want to make smaller transactions for the first time.
According to Coinbase, 98% of its cryptocurrency assets are kept in cold storage. This means they're held offline, making it almost impossible for hackers to obtain user funds. U.S. Dollars held in Coinbase are also insured by the FDIC, and a private insurance policy worth $320 million is used for all held assets.
The only downside of Coinbase is that its fees can be a little more complex and higher than other exchanges, which turns away some investors who want to make larger cryptocurrency purchases.
PancakeSwap (CAKE) is an automated market maker. The platform lets users exchange tokens anonymously and specializes in BEP20 tokens on Binance Smart Chain. The PancakeSwap model lets users trade against liquidity pools in which users can earn a passive income as a liquidity provider. PancakeSwap (CAKE) is extremely popular for memecoins, which can be exchanged for very low fees.
Uniswap (UNI) works similarly to PancakeSwap, though it focuses on ERC-20 tokens. First launched in 2018, Uniswap (UNI) quickly became one of the world's most influential decentralized exchanges during the 2021 bull market.
The exchange is designed to offer more efficient trading methods than traditional exchanges, solving liquidity issues with automated solutions.
Traditional media outlets often create the perception that cryptocurrency and in particular, memecoins, are unsafe. However, they don't always give the full picture. While scams and rug pulls were common practices during the 2021 bull market, stricter regulation and greater market awareness have caused scams to decrease dramatically.
That being said, it's always important to do your research when investing in a memecoin. As part of your research, you want to ask questions such as:
The more you know about the memecoin, the more confident you can feel in your investment. You also want to take part in the memecoins community by joining Telegram groups, Discord channels, and any other form of social media. You can often tell the legitimacy of a memecoin based on its community. While it isn't everything, a community can often tell if something doesn't seem right.
With the memecoin market growing faster than ever, 2023 is a great time to get involved in the market before projects rise in value. By investing in these top 10 memecoins, you significantly improve the likelihood of making profits on your investments, while cutting down on how much research is needed. That being said, always conduct research on projects you're unsure of, as this will help you to mitigate risk and reduce the risk of making a loss.
