AI meme tokens surge near $11 billion total market cap; These 3 are leading

This is a high-risk investment and you should not expect to be protected if something goes wrong. Meme Index ($MEMEX) has secured more than $1.5 million within weeks of its presale launch, cementing its place as a rising star in the meme coin sector. Those who like to live life on the wild side and don’t mind the riskiest of plays. The Meme Frenzy Index is for high-risk investors seeking extreme volatility. While many tokens may fail, a strong performer can significantly boost the overall value of the index. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Shibarium is a soon-to-launch layer-2 blockchain that will be part of the existing Shiba Inu ecosystem. Because of the attention meme coins receive, they also tend to attract new investors into the crypto market who don’t want to miss out. Thus, meme coin FOMO (like we’ve seen with Dogecoin in 2021) can contribute to attracting new faces to the crypto sector.

Disadvantages of Meme Tokens

Still, its homage to the frog differentiates it from alternative meme tokens. Dogecoin was the first meme coin to be created in 2013, roughly five years after Bitcoin was launched. In 2021, the meme coin market witnessed tremendous growth following the spike in the price of Dogecoin.

Bitcoin was the first decentralized cryptocurrency that created a way users could transact peer-to-peer privately without government intervention. Ethereum has created a blossoming DeFi ecosystem with smart contracts and yield farming. On the other hand, meme coins often seem to have the sole purpose of “going to the moon,” a phrase popularized by Dogecoin’s skyrocketing price in early 2021. Many seek to reward early investors with tools like reflection (awarding holders with additional coins) and coin burning (decreasing the coin supply to boost value).

Viral AI meme tokens hit $10 billion as Goatseus Maximus, Fartcoin lead charge

The websites for most meme coins advertise that they are meme coins, not meant for anything other than having fun. More popular meme coins claim to have uses (called utility) and point to the fact that they are accepted by some merchants. Many meme coins can be converted to fiat currency because they are listed on a centralized exchange, and therefore have a market value. Orca is a decentralized exchange (DEX) on the Solana blockchain that allows users to trade cryptocurrency assets directly from liquidity pools. By prioritizing usability and combining it with Solana’s speed and low transaction costs, Orca offers a user-friendly platform suitable for both beginners and experienced DeFi users. Another Solana-based meme coin to buy, BONK is hoping to build a large community of investors and users across Web3.

Its price increased dramatically to more than $2,000 before the developers disappeared with everyone’s money. BONE is the native utility token of the ShibaSwap decentralized exchange platform, which is built on the Ethereum blockchain, where users can trade cryptocurrencies securely. It has a unique tokenomics with capped supply of 250,000,000 BONE tokens. Users can earn rewards by participating in liquidity pools, ensuring smooth trading. The exchange provides security and transparency with no central authority controlling transactions. These coins are primarily community-driven since they lack any fundamental business or economic use case.

The largest AI meme coin by market cap is ai16z (AI16Z), an AI-managed crypto fund, governed by the ai16zDAO. This project is named after the prominent Silicon Valley venture capital firm Andreessen Horowitz (commonly abbreviated as a16z). Yet, there is reportedly no relation to Andreesen Horowitz, being a satire (or a meme) to generate buzz. Although the majority of these meme cryptocurrencies are developed as jokes, some of them can go mainstream. For instance, Dogecoin experienced a massive price increase in May 2021 before it eventually took off.

Dogecoin (DOGE) is the largest meme coin by market capitalization and has attracted huge amounts of investment. The token became popular in 2021, as it received celebrity endorsement from the likes of Elon Musk and Mark Cuban. The token is primarily used as a form of payment and can be used to buy goods across many platforms. Some meme coins are available on popular centralized exchanges like Kraken, BilliCat Robinhood or Coinbase.