Many years have passed since the formation of the cryptocurrency market, and today a huge number of virtual coins are offered. The more they become, the more often the authors of new products have to invent something original to attract attention to the project.
This is how meme coins appeared – assets, the image of which is built on the attributes of mass culture like memes, jokes, high-profile situations and famous personalities. Not so long ago, meme cryptocurrencies were again in the spotlight. However, the palm of superiority in the struggle for the interest of users belongs now not to the already recognized, but still young projects described below.
What cryptocurrencies can repeat or even surpass the success of PEPE?
Pepe cryptocurrency became famous thanks to the frog of the same name – a popular internet meme in the past. It was made famous by users on Twitter and other social networks.
The coin rose in value very quickly indeed and peaked at $0.00000372. At the moment it is worth $0,0000009084 and ranks third in the top meme cryptocurrencies.
Pepe was first talked about in April 2023. Nevertheless, there are young projects that can compete with the coin:
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- Wall Street Memes – the most talked about meme project today from the creators of the popular NFT collection Wall Street Bulls, which has gained the support of Ilon Musk himself and a community of millions.
- Ecoterra – a cryptocurrency platform with the global goal of fighting pollution, whose creators plan to introduce rewards to consumers for recycling waste.
- Deelance – a project of a modern freelancing platform, which should revolutionize the market of remote work, making it transparent and honest for both freelancers and clients.
Wall Street Memes
First of all, the Wall Street Memes project owes its fame to its developers. Back in 2021, the team prepared and literally sold out Wall St Bulls in half an hour – a large collection of NFTs consisting of 10 thousand items. The team earned $2.5 million on this, and now has taken on the creation and promotion of a completely new project – virtual currency WSM.
According to the creators themselves, Wall Street Memes can be considered the embodiment of a real victory of the virtual world over the arbitrariness of capitalism. Technologically meme coins have no special usefulness, but still allow ordinary traders to get a good profit with their help.
Right now, the WSM coin is in the pre-sale stage and is priced at $0.0283. At the moment, investors have invested more than $9.2 million. You can get tokens not only for USDT, but also for the equivalent amount in ETH or BNB. In the future it is planned to list with CEX exchanges.
Advantages of the project:
- Availability of branded products.
- Impressive regular growth of the army of fans.
- Cooperation with influential partners.
Ecoterra
Ecoterra is an entire blockchain-based ecosystem that incentivizes users to fight climate change. The platform promotes recycling to the masses to reduce carbon emissions.
As a reward, the project will provide a cryptocurrency of the same name, which is currently in pre-sale. At the moment, the token is worth $0.00925, and the amount of investors’ investments exceeds $6 million.
One of the main advantages of the project is the availability of a mobile application, which can be used to record waste turned in for recycling and other environmental actions. For each individual item suitable for recycling, the client will receive an ECOTERRA coin.
Among other things, participation in the project will be beneficial not only for ordinary users, but also for entrepreneurs: interaction with the recycling market will expand the company’s opportunities. In addition, the use of recycled materials and care for the environment will improve reputation and increase customer interest.
Advantages of the project:
- Availability of a convenient mobile application.
- Receiving material rewards for useful actions.
- Participation in environmental protection.
Deelance
Deelance is a new modern decentralized freelancing platform based on blockchain technology. Thanks to this platform it will be much easier for freelancers and employers to find each other, it will be profitable as well as safe for them to interact.
The revolutionary Web3 platform guarantees effective collaboration in a fair and transparent platform economy.
Thanks to DeeLance, clients and performers will not only be able to make deals, but also participate in discussions and work on projects together. Thanks to the creation of a digital meta-universe, anyone can organize a full-fledged business by opening a virtual office and buying advertising.
At the moment, the cryptocurrency DLANCE, which will play the role of the key means of payment on the platform, is on pre-sale, it costs $0.057. Investors have invested more than $1.3 million in the project, and this is not the limit.
Benefits of the project:
- The Internet’s first decentralized network for freelancers.
- Low commissions – 2% of the transfer amount.
- Withdrawal of funds from the platform is instant.
Expert opinion
Among crypto experts and market participants, there is no consensus on the role and prospects of meme tokens. As for meme projects, most of them are not taken seriously – it is believed that they do not represent any value for investors.
In addition, it is widely believed that increased volatility and the possibility of unlimited issuance risk posing a serious threat to market stability. But in the meantime, no fewer people are loyal to meme tokens and favor them, even in comparison with more technologically advanced coins. Thus, the rate of meme projects can grow during the cryptozyme period as well.
Analysts assume that the structure of this segment of the cryptocurrency market cannot be called stable, it will periodically change in accordance with the changing preferences of market participants. For example, if the popularity of Ilon Musk decreases, it will not affect Dogecoin cryptocurrency in the best way, and the emergence and success of new memes is almost guaranteed to lead to the emergence of another “joke” cryptocurrency projects.
One way or another, in the coming years, the meme token segment will develop on par with standard cryptocurrencies.
What are the pros and cons of meme tokens for investors?
Traders who want to invest in meme coins should first of all pay attention to their positive and negative sides.
Advantages:
- Opportunity to make good profits due to increased volatility.
- Attractiveness during the cryptocurrency winter.
- Risk reduction due to low dependence on bitcoin (VTS).
Disadvantages:
- Uncontrolled growth in the supply of coins.
- Fall in value to almost zero when the meme loses relevance.
- Virtually zero technological potential.
- Difficulty in predicting the exchange rate.
Investing in meme cryptocurrency is recommended only to those traders who are well enough versed in the specifics of the chosen project and fully understand all the risks.
What is the secret of success of PEPE and other meme cryptocurrencies?
Meme tokens stand out among ordinary coins with a higher degree of volatility, because the success of such a project depends entirely on the community. So, for example, the Pepe the Frog meme was popular before, and its use many years later caused a surge of interest in the coin.
Another distinctive feature that influences success is the patronage of famous people, who can strongly influence the promotion of the project in one direction or another. Dogecoin is a case in point – the patronage of Ilon Musk propelled this meme cryptocurrency to the top.
As with all other cryptocurrencies, it is not easy to predict the success or failure of meme projects in advance. Their success will depend on how relevant and interesting they will reflect reality, and how much the community will support them.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.