Meme coins are essentially digital assets that were created as a joke. Certain meme coins have seen massive price increases, celebrity endorsements and multibillion-dollar market caps. Crypto investors frequently purchase meme coins to participate in a community or amusement. Some people believe that most meme coins have only one possible purpose: pure speculation.
Dogecoin (DOGE) is the first and most well-known meme currency. DOGE, founded in 2013 by Billy Markus and Jackson Palmer, was named after the Shiba Inu dog that was the subject of a famous internet meme.
Thanks to a passionate user community, Dogecoin started to gain popularity and developed something of a cult following. Elon Musk, the CEO of Tesla, is the coin’s most well-known supporter. The billionaire has consistently marketed Dogecoin. At its height, Musk’s support helped Dogecoin reach an all-time high with a market cap of $88 billion in May 2021. Since the debut of the first meme coin, more than 200 of these meme coins have been created.
Shiba Inu (SHIB) was introduced as the “Dogecoin killer” two years ago. The cryptocurrency even replicates the branding of Dogecoin by utilizing the same Shiba dog. The market capitalization of SHIB increased dramatically, reaching an astonishing $41 billion in October 2021.
The blockchain technology that underpins these cryptocurrencies is open-source. Developers can simply “fork” current cryptocurrencies by copying and pasting the blockchain and launching them online with the minor name or logo changes.
Typically, meme coins are advertised by their founders on social media to generate initial buzz and boost the price. If the coin succeeds in building a robust community, the price can continue to rise. Many meme coins were developed in an effort to cash in on the mania as the bull market hysteria drove prices across the market.
People frequently mix up meme coins and altcoins. It’s crucial to note that not all “altcoins” are “meme coins,” but all “meme coins” are “altcoins,” not the other way around.
Any coin (or token) that is not bitcoin is considered an altcoin. For instance, in terms of market value, Ethereum is the biggest altcoin and the second-largest cryptocurrency by market capitalization.
Cutest Meme Coin About to Hit the Market: Big Eyes Coin
Big Eyes (BIG) is here to take over the meme world. It is a new coin to the crypto market and is currently undergoing a presale phase.
Community tokens are a substantial source of income for both businesses and nonprofit organizations. Big Eyes Coin (BIG) aims to contribute more by building a blockchain ecosystem that self-propagates for hyper-growth by using NFTs to give access to additional content and events that make the blockchain hypeship well worth boarding. Unique from other meme cryptocurrencies, the ultimate aim of Big Eyes Coin (BIG), a fully-fledged community token, is to move funds to the DeFi community and protect a crucial element of the global ecosystem.
According to the developers, the token will be 90% available when it launches and will be controlled by the community. The team is concentrating on investing in the cat’s future to establish and protect ocean sanctuaries. A visible charity wallet holding will keep 5% of the tokens that will be donated to help conserve the oceans.
Media marketing and influencers will be used to make it the most talked-about meme coin in 2022 and to rise until 2030 through innovation and acquisition. Due to the team’s creation of a dynamic tax structure, additional fees for the Marketing Wallet, LP Acquisition, and Auto Burn services will be charged.
What’s New With The Sandbox?
The team’s success in voxelizing avatars from 13 NFT collections allowed the Sandbox (SAND) to become fully interoperable. Some collections include Cool Cats, Clone X, World of Women, Moonbirds, Bored Ape Yacht Club, People of Crypto, and Doggies.
These avatars, which can play during Sandbox Alpha Season 3, will symbolize the user’s digital identity. Over the course of 10 weeks, the project will present more than 90 playable experiences in The Alpha Season 3’s.
Users will enjoy both single-player and multiplayer adventures. The 27 events that will include brand partners like Snoop Dogg, The Walking Dead, Bored Ape Yacht Club (BAYC), World of Women, and others are particularly significant.
17 experiences from The Sandbox will be offered in addition to the 20 experiences supported by The Sandbox Game Maker Fund. Additionally, this season will feature 12 pieces of user-generated content and 16 Game Jam experiences.
This season, The Sandbox offers added benefits for non-Alpha Pass holders. If a person maintains a specified NFT during this season, they will be rewarded with SAND tokens. Additionally, LAND owners, Avatar owners, and NFT collectors will earn SAND rewards after completing a level.
Will The Top P2E Platform Surge?
The ability for users to design their own avatar in this metaverse world and earn money while playing makes these games so appealing. P2E’s total market capitalization at the time of writing was US$6,561 billion, and its trading volume was US$1,013 billion.
At the time of writing, according to CoinMarketCap, the top-ranked P2E cryptocurrency, Decentraland (MANA), by market cap, is trading at US$0.82. A total of 1,852,416,697 MANA coins were in circulation for the 37th-ranked token.
While MANA investors will be hoping for a quick recovery, it is worth noting that the general market bearishness hasn’t helped MANA either, meaning that the bears are currently in complete charge.
Transak Metaverse ATM by Decentraland is the first fiat cryptocurrency ATM in the world. The project aims to simplify users buying MANA or any other cryptocurrency. The creators stated that “the goal is to simplify the user experience.” “Like an ATM in real life, we wanted to provide consumers with a more smooth Web3 navigation experience,”.
After it was revealed that Facebook would change its name to Meta and shift its primary focus from social media to 3D virtual worlds in 2021, Decentraland saw a significant uptick in popularity when its native token MANA rose 80% in only 24 hours, reaching a market value of more than $2 billion.
Barbados reached an agreement with Decentraland in November to establish its virtual embassy there in January 2022, becoming the first country to do so. This year, JPMorgan Chase made history by being the first bank to ever enter the Metaverse with its “Onyx Lounge” at the Metajuku mall in Decentraland. Visitors are greeted by a roaring tiger and a digital image of Jamie Dimon, CEO of JPMorgan. A few cryptocurrency businesses, like Binance, have created virtual offices that can be used as collaboration and meeting spaces.
Whether you are a gamer, a meme lover or looking to enter the market, participants in the cryptocurrency space must make sure they thoroughly examine the sector before making a crucial investment decision. Without considering the trends, any decision could result in losses. In the meantime, be sure to check out the Big Eyes Coin project due to its highly diverse range of services.
Big Eyes Coin has it all, ranging from NFT services to DeFi, where the community plays the most crucial role in the project’s development. The bear market has not been kind to anyone, but NFTs and DeFi have the most potential out of all crypto domains to succeed as soon as it finishes. Considering this, Big Eyes Coin potentially looks like a winning hand.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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