Meme coins: New hype in the crypto industry

Thousand times growth, incredible hype on Twitter and Elon Musk; this is how you can briefly describe the situation around the ” same corners that have popped up in the crypto space over the past year.

The same corners

The same cornersare cryptocurrencies that can’t boast of using or inventing advanced technology, but they’re excellent for speculating on popular internet memes and other funny stories.

Various influencers play an important role in promoting cryptocurrency memes. And for some corners the main and most important role, as was the case with Dogecoin or Shiba Inu, which owe their popularity, explosive growth and audience to Elon Musk and his shocking tweets.

The combination of good looks, low price, hype and lots of ads on TikTok and Reddit has become a real win for such projects. But those who were lucky enough to get at least an indirect mention of Elon Musk-level influencers, “ soar to the moonat incredible speed.

The same corners played an important, but controversial role in the adoption of crypto: on the one hand, they brought in a lot of money for the lucky ones who managed to jump on a rocket taking off to the moon, and brought in a million new newcomers to the crypto market. On the other hand, due to extremely high volatility and unstable background of such projects, many people got involved in various scams or at least lost most of their investments.

Perspective

Nevertheless, thanks to the large number of new people and new liquidity, the market has expanded on such an impressive scale, which has allowed the emergence and development of new interesting projects. Many experts agree that even among same corners there are many cornersremarkable. For example, Dogecoin, which started as a joke, is now actively supported and developed by a group of experienced blockchain developers who adapt and improve its blockchain.

Not all coins are scams. Some of them are supported by powerful communities, investors, developers, those who are able to maintain the value of the tokensays the founder and CEO of Yafo Business Development.

Besides DogeCoin, there are a number of other meme tokens with good growth potential. This has been particularly facilitated by the development of another technology ” hype called NFT. The combination of memes, NFTs, gamification and play-to-earn spawned a whole genre and brought even more attention, capital, and viewership into crypto.

Just take Axie Infinity a project that, although not a “meme”, is growing thanks to the influx of a huge new audience in “crypto with a human face“. One of the potential candidates for the next “to the mooncould be Vodka-Token, a Polygon (Matic)/Binance Smart Chain blockchain project with a brilliant name, but rather solid partners and team, including former employees of Oracle, Microsoft, McAfee & Fintech projects.

The young NFT project invites users to try themselves as bartenders, mix the proportions of different cryptoassets and sell the resulting “cocktails” as NFTs on the secondary market. Game mechanics include the VODKA token’s deflationary mechanism, which should ensure it grows well in value, and received NFTs can be staked at 100-300% APY.

In addition, on November 23, the TGE (list) Vodka-Token will launch at a starting price of $0.0001, where fans ofsame cornersand the mechanismplay-to-earncould become the first owners of a potentially explosive project.

The most important achievement ofsame cornersmay have been the attraction of new people and new capital to the industry, resulting in a number of interactive gaming and blockchain projects, especially NFT games. At the very least, it’s nice to see the massive adoption of cryptocurrencies by a large audience. It indicates that we are moving in the right direction, whatever the path.

You still have a chance to participate in the contest organized by Bybit to win $2000 in bitcoin! To play, Click here.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

Clement Dubois avatar

Clement Dubois

I like cryptocurrency. I have been studying it for several years now, but also investing in it and working in this field. In addition, I do articles on the subject where I try to be clear and clear!

Leave a Reply

Your email address will not be published.