The sudden price hike in Shiba Inu (SHIB) took the crypto space by surprise. The ‘Dogecoin Killer’ is now the ninth biggest cryptocurrency in the world, pushing its longtime rival Dogecoin (DOGE) to the tenth position.
The price hike has got crypto investors talking and all eyes are now on meme coins. As the battle for the meme coin crown continues between Dogecoin and Shiba Inu, the search for the next meme coin that will have a price spike continues.
This article tells you all you need to know about meme coins, and lists the top 10 meme coins that you should watch out for in November.
What Are Meme Coins?
The price surge in Shiba Inu began after Elon Musk posted a tweet about his dog Floki. The dog bears a close resemblance to the Shiba Inu dog logo and it sparked a lot of reactions. The reactions to the tweet, and the events after, describe meme coins in a nutshell.
Meme coins are a category of cryptocurrency that is derived from social media trends such as memes, jokes, and pop culture.
That is not the only way in which meme coins differ from mainstream cryptocurrency. Meme coins are not created to serve a particular purpose besides entertaining investors. This is true for most, although SHIB has just launched its ShibaSwap platform which allows investors to trade the token. Memecoins are also notoriously volatile, rising just as quickly as they fall.
Meme Coins That You Should Keep Your Eyes On
The massive run of Shiba Inu followed Bitcoin’s all-time high of $67,000. The crypto space is buzzing with excitement and many are expecting another meme coin price spike. Here are the top 10 meme coins to watch out for in November.
Market Cap: $34.66B
Dogecoin is first on the list because it has a long-standing rivalry with Shiba. No doubt it will try to make a comeback and this could mean its price could skyrocket. It was the first meme coin invented and is based on Litecoin.
The cryptocurrency was launched in 2013 as a joke about cryptocurrencies and experienced its first price hike after billionaire Elon Musk began tweeting about it.
Market Cap: $501.3M
Samoyedcoin is the community-owned mascot of Solana. It bears the name of FTX’s CEO, Sam Bankman-Fried. The logo is based on the samoyed, an Eastern European dog breed.
Tiger King (TKING)
Market Cap: $118.48M
Tiger-king is based on the Ethereum blockchain and was launched by Joe Exotic, star of the popular show ‘Tiger King’.
The cryptocurrency is ranked 4th by Coinmarketcap on its meme coin charts.
Market Cap: $102.15M
Monacoin is a hard fork of Litecoin and was launched in 2014. Its owner is unknown and uses the pseudonym Mr. Watanabe. It is an open-source, peer-to-peer network and was dubbed ‘Japan’s first cryptocurrency’ by the press.
Safemoon Inu (SMI)
Market Cap: $54.28M
Safemoon is a community-driven meme and gaming token launched on March 8, 2021. It is one of the top meme coins and has experienced a price hike before. It is also launching a game called ‘Moonshot Voyage’. In their recent tweet, they announced the upcoming alpha test.
Market Cap: $32.60M
Market Cap: $24.04M
Pepe-cash is a meme coin inspired by the viral Pepe the Frog meme. It was launched on the Bitcoin blockchain and has 700 million coins in circulation. PepeCash is the official currency for Pepesphere, a virtual community.
Dogs of Elon (DOE)
Market Cap: $30.50M
Dogs-of-Elon is an NFT project based on K-9 and Elon Musk. It is traded using a $DOE token and has 10,000 NFT avatars. The platform has 30 special Elon avatars.
Market Cap: $32.04M
ERC20 is a type of Defi crypto and is an NFT Collectibles token. It is also used as a smart contract token on the Ethereum blockchain.
Market Cap: $4.42M
Garlicoin is a garlic-themed meme coin that started as an idea on Reddit. It is a fork of Litecoin and has a total supply of 69 million. It is ranked 20 on Coinmarketcaps and has kept a steady 10+ increase over a week.
Best Exchanges To Buy Meme Coins On
It came as little surprise when Binance became the first major exchange to offer a meme coin trading pair on its platform. The world’s largest crypto exchange launched a DOGE/SHIB trading pair, hoping the competition between them would stir interest.
Dogecoin and Shiba Inu can be bought on Binance with a credit card. Other cryptocurrencies can also be exchanged for meme coins.
The Asian crypto giant, Huobi Global, is also a good platform for investors. The exchange was founded in China but is currently based in the Seychelles due to China’s crypto regulation laws.
SHIB is 4th on the Huobi listing on Coinmarketcaps. Other meme coins like DOGE are also present.
In the last 24 hours, Pancakeswap has reached a volume of $10,342,135.49. The exchange is a decentralized platform for swapping BEP20 tokens on Binance Smart Chain. SHIB, DOGE, and Australian Safe Shepherd (ASS) are listed on the exchange.
Dogecoin and Shiba Inu are currently leading the circus of the crypto sphere and the spotlight is on them. The prices keep rising and shrewd investors are hopping on for the ride.
However, it is imperative that you trade with caution. Meme coins are products of online hype and jokes and sway easily with public opinion. If they have public interest, they rise and vice versa. This makes them very unstable and fertile grounds for pump-and-dump.
There have been cases of mind-boggling profits, but these are not everyday incidents. Do your research before investing and keep abreast with changes in the crypto sphere. Not only can changes be sudden, but they can also be coin-crashing.