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The recent successes of meme coins like Pepe Coin (PEPE) have spurred a flood of copycats, creating a wave of trending tokens.
Just as we thought that meme coins are going the way of the Dodo, a new generation of popular altcoins started trending. The first one was Pepe Coin, followed closely by even more successful tokens like Wall Street Memes (WSM), AiDoge (AI), Spongebob Token (SPONGE), and of course, Copium (COPIUM). Each of these brings something unique to the market, helping them earn popularity and make gains. Crypto enthusiasts adore these meme coins, preferring them to the OGs Dogecoin and Shiba Inu. The popularity makes WSM, AI, SPONGE, and COPIUM priority targets for investors following the market closely.
The economics of meme coins was always different than regular tokens we can find on the market. Unlike the majority of cryptocurrencies, meme coins never tried to create anything of value or even present themselves as utility tokens. Instead, their sole claim to fame was always the hype people created around them.
Celebrity endorsements always played a significant role in increasing the popularity of meme coins. The controversial billionaire Elon Musk, the self-styled "The Dogefather" is perhaps among the most notorious celebrities for hyping meme coins like DOGE, FLOKI, SHIB, and most recently WSM.
The Copycat Phenomenon plays on the popularity of the original meme coins and many tokens have tried to exploit it. Sadly for them, not many have succeeded, but the few that did make a boatload of money for their creators and investors. Let's see if these top 5 trending tokens have what it takes and if should you consider them as your next investment.
Wall Street Memes represent a digital outpour of resistance aimed at the rigged Wall Street system. The movement was sparked by the now infamous 2022 GameStop scandal which has pulled the curtains back and revealed the ugly truth behind the global stock markets.
WSM enjoys the full backing of the community gathered around r/wallstreetbets and its Twitter and Discord accounts. Potentially 2 million strong, the community is showing its support by gobbling up the WSM token on presale, helping it raise more than $8.3 million so far.
A huge chunk of the raised funds comes from investors, though, who are betting that Wall Street Memes will explode once the presale ends and the first listings start. The token is projected to gain x50 in the first few weeks after appearing on the crypto exchanges, and even more by the end of 2023.
Based on the iconic cartoon character SpongeBob SquarePants, Spongebob Token has perhaps the most in common with the original meme coins. It is based on a popular character and has no inherent value, apart from the backing of a massive community. As far as copycats go, $SPONGE is closer to DOGE than any other meme coin currently on the market.
Following a stealth launch, the token has been gaining in value mostly due to a huge outpour of support from its fans, pushing it among the top 5 trending crypto coins. Listed on several crypto exchanges, the token is on the brink of going viral and this is probably the last chance you have to jump on the bandwagon before it explodes. Once that happens, all bets are off, as there is no telling just how high it can go.
The Copium meme was created to make fun of the Russians as they spread propaganda about their disastrous invasion of Ukraine in an attempt to cope with their failures. In a similar vein, the Copium token was designed to help crypto traders deal with their bad investment choices, like making a terrible trade or missing out on tokens like DOGE or PEPE.
COPIUM is designed to remind them that it is only money and not to take their losses too seriously, as hard as that may be. Needless to say, millions of crypto enthusiasts took the token to heart and embraced its message. Ironically, buying COPIUM can help them mitigate their failed trades and earn them a bundle, provided they act before it explodes and becomes yet another source of FOMO.
AiDoge is a revolutionary meme-generating app that will transform how we make memes. It is capable of turning a simple text input into a viral meme in a matter of seconds. To achieve this, the app is utilizing a powerful AI to create a concept and scour the Internet for appropriate images. Once done, all you have to do is share your new creation with the world via your social media accounts.
AiDoge's native token $AI is not a meme coin per se, but it is often grouped with them thanks to the nature of the app. It will be used to power all transactions on the platform, including rewarding the best meme creators. As such, the token has natural utility, something pure-blooded meme coins lack. Regardless of that, $AI is among the top trending tokens at the moment, mostly thanks to its amazing presale.
During the presale $AI raised more than $15 million for further development. The token went live on exchanges on June 19th and price predictions are extremely favorable. The crypto exchanges chosen for the $AI premiere are MEXC and Uniswap.
If we are talking about the Copycat Phenomenon, we might as well mention the token that started the whole meme coin craze, Dogecoin. It is still among the top 10 tokens by market cap, standing at $8.6 billion.
Popular DOGE is trending again, but without Elon's support and too many disappointed investors, it is hard to see it replicating its success from a few years ago.
If you are an investor trying to find the next big meme coin, the primary suspects for you should be WSM, AI, SPONGE, and COPIUM. These tokens have benefited greatly from the Copycat Phenomenon and are firmly among the top five trending crypto coins. All of them have what it takes to become viral sensations and repeat the success of earlier meme coins.
