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Meme coins have become fashionable again in 2023, with established favorites returning to a place of power and newbies entering the market with a huge splash.
As the meme coin sector enjoys its renaissance, with some enjoying a new lease of life and others bringing variations on a theme, investors continue to enjoy themselves with the current variety.
Meme coins are an intriguing class of crypto projects, with many enthusiasts dismissing them as a fad lacking long-term viability.
However, an increasing number of coins are diversifying their offering by building new functionality and utility into their meme coins, making them a much more attractive long-term prospect.
Here we look at the top 6 meme coins that could go stratospheric this year as the meme coin craze shows no signs of slowing down.
The meme coin sector is now worth more than $14 billion. Following an in-depth review and research of several different meme coins, these are the six best coins to buy now for anyone seeking excellent returns in 2023 and beyond.
1) Shiba Memu
2) ApeCoin
3) AIDoge
4) Shiba Inu
5) Dogecoin
6) Pepe
Shiba Memu (SHMU) is one of the most exciting new meme coins to hit the marketplace for some time, thanks to its novel use case incorporating cutting-edge new AI technologies. Based on the ever-popular Shiba Inu meme, Shiba Memu differs from competitors by backing plenty of bite to go with its bark.
By harnessing the power of natural language processing (NLP), machine learning, and sentiment analysis, Shiba Memu can sniff out organic mentions of itself online and assess investor sentiment towards it. Using this information, Shiba Memu autonomously creates and implements online marketing strategies to effectively promote itself to a new audience.
Users can interact with Shiba Memu's AI algorithms via the platform's fully-interactive AI dashboard. Whether providing feedback on the quality of its campaigns or suggesting new online communities to target, Shiba Memu coin holders are fully engaged throughout the entire process to feel a part of something extraordinary.
There are several compelling reasons to invest in Shiba Memu. Most prominent is the pioneering use of brand-new AI technologies to support Shiba Memu's online activities and take a front seat in promoting the platform.
AI and blockchain technologies will unquestionably form a vital part of the Web3 future, so investing in Shiba Memu allows people to be part of something pioneering.
Meanwhile, the coin is more than just another meme, full of charm and cutesy appeal. Instead, the SHMU token provides users with excellent inherent value, unlocking access to the interactive AI dashboard. Here, coin holders can observe all online interactions made by Shiba Memu and interact intelligently with the platform via the impressive chatbot function.
If that's not enough, the Shiba Memu presale features a daily price increase of $0.000225. After initially launching at $0.011125, the value of SHMU increases by 1-2% on each of the 60 days of the ICO.
Before listing on Bitmart at the presale's conclusion, SHMU will have driven 119.33% returns to a day one investor, reaching a value of $0.0244.
Shiba Memu is similar to any other investment opportunity due to the level of inherent risk attached. With crypto markets and meme coins, in particular, behaving with more volatility than other asset classes, potential investors should do plenty of homework and due diligence on Shiba Memu before committing to purchasing tokens.
Keeping a close eye on the performance of Shiba Memu once it hits public exchanges can also help reduce risk exposure.
>>> You can find more information, including how to buy SHMU, here <<<
Launched by Yuga Labs in March 2022, ApeCoin went wild in the minds of crypto enthusiasts soon after, with investors scrambling to become members of the exclusive Bored Ape Yacht Club (BAYC). This unlocked access to the Bored Ape Metaverse, a virtual world built by Yuga Labs on the Ethereum blockchain, and provided club members with several virtual experiences.
A collection of cartoon ape NFTs, the BAYC's main appeal lies in modifications users can make with digital accessories to customize the appearance of their NFTs. Each Bored Ape NFT is unique and has unique digital DNA, meaning no two club members will have the same NFT.
The brains behind ApeCoin have quickly realized that adding utility is the key to retaining the interest of investors in the longer term. Until now, ApeCoin followed the performance pattern often seen in meme coins, with quick mega-profits soon giving way to value losses as coin holders lose interest.
While ApeCoin is a fully-fledged decentralized autonomous organization (DAO), putting control in the hands of the community, a recent proposal to launch an Accelerator was passed to support the development of projects using the native APE token. The more projects the Accelerator develops, the greater value is driven to ApeCoin.
With the community fully committed to the success of the Accelerator, members will be fully engaged as initiators, participants, and voters. As projects go into development, the level of utility held by ApeCoin will slowly increase, making the token a more impressive long-term option.
ApeCoin remains a relatively new cryptocurrency and has yet to establish itself in the market fully. Questions still need to be answered about the viability of the Accelerator initiative over the longer term, with significant risk attached if it cannot support projects.
A lack of inherent liquidity in the ApeCoin ecosystem could also hamper the price of APE for anyone looking to trade their holding.
AIDoge is a meme coin with a difference. As well as the usual fun that comes with owning a meme NFT, users are offered the chance to create their own memes with the help of AI technologies. Each time a user provides the AI engine with a text prompt, AIDoge generates a meme within seconds. The more detailed the prompt, the more precise the meme.
These memes can then be shared among other users and voted on by the community. The more votes a meme receives, the more passive income the 'creator' earns. These credits build up daily and can be exchanged to unlock a range of exciting features on the AIDoge platform to create a more immersive experience than the meme coin norm.
The native token of AIDoge is the AI coin, an Ethereum ERC-20 token that allows users to collect and exchange the credits needed to create new memes. The AI coin is also stakeable, with users able to stake their holdings to increase liquidity pools within the AIDoge ecosystem in return for a passive yield on each transaction conducted on the platform.
With many crypto projects known for their complexity, AIDoge is increasingly seen as an excellent entry point for new investors seeking an introduction to the world of crypto investment. The pioneering breakout use of AI technology, which will play an increasingly important role in the future of Web3 development, can give investors an edge over the competition.
Of course, AIDoge is a coin vulnerable to the inherent volatility of the meme coin market, yet additional risks are associated with investing in AIDoge. Chief among these is the additional risk attached to its use of AI technologies that remain in their infancy, particularly within the Web3 sector.
There's no guarantee that this AI technology will capture the imagination of meme coin fans or Web3 users, leading to a significantly increased risk of the value crashing quickly.
Shiba Inu is one of the biggest names in the meme coin sector, featuring the Shiba Inu meme, a Japanese breed of hunting dog. Originally developed as an alternative to Dogecoin, Shiba Inu's successful adoption has been labeled the "Dogecoin killer."
The anonymous Ryoshi launched Shiba Inu in 2020, and it quickly grew in popularity, building a loyal following known as the Shib Army. At the height of the 2021 bull market, Shiba Inu reached a whopping market cap of more than $40 billion before falling substantially in the subsequent bear market to less than 10% of that high.
Yet even with a market cap of around $5.7 billion today, SHIB remains firmly in the top 20 cryptocurrencies.
Another well-established meme coin that has belatedly recognized the benefits of providing coin holders with utility, Shiba Inu, is making several additions to its ecosystem. The much-vaunted Shibarium is a layer-2 blockchain solution that allows scalability and access to cheap, fast transactions with the SHIB token.
In addition, Shiba Inu has released ShibaSwap, a decentralized crypto exchange that enables token swapping, trading, and staking to SHIB coin holders. Not only that, Shiba Inu has two other tokens within its ecosystem. The LEASH coin is a staking token with a fixed limited supply of around 100,000 coins, while BONE is Shiba Inu's governance token.
On the face of it, Shiba Inu's diversification of its product portfolio appears to be a strong market move that should reap handsome rewards for investors. Yet along with the natural volatility of meme coins, Shiba Inu has chosen to move into two already saturated markets in blockchain provision and crypto exchanges.
As a result, there are no guarantees that their solutions will be widely adopted, something that would significantly hamper the coin's profitability.
Dogecoin is the original meme coin and still the biggest by market cap. After launching in 2013 as a light-hearted alternative to serious crypto forces like Bitcoin, Dogecoin was forked from Litecoin by Billy Markus and Jackson Palmer.
Over the past decade, Dogecoin has become a behemoth in its own right, gaining the backing of some of the tech world's biggest names, including Elon Musk.
Another coin that uses the Shiba Inu logo, Dogecoin is a regular in the top-10 list of cryptocurrencies by total market valuation; Dogecoin has defied expectations despite its limited use case and utility.
Investors like celebrity backing, and Dogecoin's support from one of the world's wealthiest men, Musk, has unquestionably been crucial to DOGE's enduring appeal. Indeed, a single tweet from Musk sent DOGE into the stratosphere in May 2021, and although the coin has since reset at around 10% of that high, Musk remains one of Dogecoin's most fervent backers.
Indeed, Dogecoin was touted as a potential digital currency during Musk's protracted takeover bid of Twitter. Now accepted as a digital payment method by over 2,000 merchants globally, DOGE's future could be one of the world's most significant digital currencies as more businesses and governments transition to digital payment solutions.
As much as celebrity endorsement can boost a coin's popularity and profitability, Musk has proven to be a polarizing figure in recent months, meaning that his backing of Dogecoin may instantaneously put some potential investors off.
This, in turn, could hamper the ability of DOGE to make serious gains in the future.
Pepe launched to huge acclaim as recently as April 2023, breathing new life into the meme coin sector with its refreshing look. A fully-decentralized crypto project, free from venture capitalist involvement, Pepe is a community-led project using the famous Pepe the Frog meme to its advantage.
While Pepe's development team readily admits the coin has no inherent value, Pepe has created a strong community spirit based on plans to increase utility on the platform. Rather than just being another flaky meme coin, Pepe aims for longevity.
Although currently featuring nothing more than the NFT-based meme coin, Pepe has a roadmap to add several exciting products to its ecosystem, driving utility into the wallets of PEPE coin holders.
These include plans for a decentralized exchange where users can buy, sell, and trade PEPE alongside other tokens while increasing the platform's liquidity.
In addition, the platform is aiming to launch an NFT marketplace where users can trade memes, gaming items, and bespoke Pepe-influenced artwork.
Pepe investors have already experienced the rollercoaster of investing in meme coins. The token lost around 50% of its market valuation almost as quickly as it erupted to touch the $1 billion market cap mark.
Until its new products take flight and are successfully embedded, there's every chance Pepe will continue to behave with volatility, making it a high-risk investment option.
Each meme coin that made this list of best meme coins to buy in 2023 underwent rigorous research and scrutiny. As part of the assessment, the following factors were assessed in depth:
The availability of tokens on crypto exchanges is an essential factor for investors to consider. Coins with a scarcity of tokens will likely see higher-than-normal prices, while more available tokens will see more reasonable prices, higher liquidity, and easier trading.
Meanwhile, several newer projects often have undervalued prices when assessing the utility and use case. Any project with solid fundamentals and scope for growth often creates excellent opportunities for investors to make good profits.
Several other factors should be considered before purchasing when making any investment, particularly in volatile crypto markets. These include:
Any potential investor should only invest what they can afford to lose. Understanding your financial capacity and investment goals helps you make sound investment decisions.
In addition, understanding a coin's use case is essential when deciding whether to invest, particularly in meme coins that come under fire for their lack of real-world application: research why a coin has been created and the problem it solves before committing funds to it.
Finally, crypto investments can be significantly more volatile than other investment assets. Sharp rises and drops are not uncommon, particularly with meme coins, so investors should check that they are comfortable with high-risk, high-reward investments.
Meme coins are slowly transitioning from providing crypto fans with collectible cartoon NFTs toward providing users and investors with more complex and diverse platforms.
With many moving into already crowded marketplaces, such as blockchain and exchange provision, time will tell whether established meme coins are making sound decisions.
Shiba Memu stands out at the head of the pack thanks to its pioneering use of AI technologies to fuel its self-marketing capability.
With time running out in Shiba Memu's exciting and instantly profitable ICO, interested investors should decide to buy the SHMU token today and be part of something truly extraordinary.
