The extreme volatility of meme currencies is one of their defining characteristics. Since they can rise and fall equally swiftly, any astute investor who purchases during market lows can benefit greatly from a bull market.
The four meme coins that have been performing well throughout the bear market will be covered in this post. These cryptocurrencies have maintained their growth throughout the decline, indicating real possibility for making a significant return under more favourable market circumstances.
Which meme coins are expected to be popular in 2023?
The meme coin market appears prepared to profit as the crypto markets may be preparing for a long-term trend reversal. In Web3, there are now a tonne of meme currencies that are undervalued. Each project discussed in this article creates engaging apps for the benefit of the crypto community.
Here are the top four meme coins for October 2023 (and the ones that could see the biggest price increases):-
1. Shiba Memu (SHMU) is a meme coin for AI marketing.
Shiba Memu, which will debut on digital asset platforms later in the year, is anticipated to rank among the top meme currencies. It has tremendous potential as a brand-new meme coin in Web3. In addition, the cryptocurrency has an AI marketing mechanism that could aid in its expansion of impact across the digital sphere.
Shiba Memu will advertise the native SHMU token on cryptocurrency forums and other social media platforms by fusing cutting-edge AI technologies with the most successful marketing efforts of recent years. Given that the presale has already raised more than $3.5 million, SHMU is currently available at a discounted pricing level.
The presale for Shiba Memu has a special price-rising mechanism that will raise the value of SHMU daily. The first backers of Shiba Memu stand to gain more than three times their investment. Following this, SHMU will be listed on the Bitmart exchange, which may cause its price to increase even more.
Shiba Memu’s AI marketing protocol combines machine learning and natural language processing (NLP), allowing SHMU to analyse investor sentiment and produce its own PR, social media postings, and other content. The automatic promotion of SHMU across internet forums may help it achieve significant popularity there, and machine learning will help the protocol become more potent over time.
2. The community-based meme coin Floki Inu (FLOKI).
Launched in 2021, Floki Inu quickly rose to prominence as one of the best meme currencies in the cryptocurrency world. The project is entirely driven by its community, which wants it to grow into one of the most approachable and entertaining decentralised communities on the blockchain.
The Floki Inu ecosystem has a Web3 education platform called Floki Inuversity in addition to offering a financial system with low entry barriers. Leading sporting organisations including Napoli SCC, Alfa Romeo Formula One, and Sauber Motorsport now have FLOKI as a primary sponsor.
With a big worldwide footprint and alluring decentralised services, FLOKI is prepared to continue its Web3 journey and have a successful bull market run. In order to regain a large portion of the value lost during the bear market, the token may increase in value from its current price level over the ensuing months and years.
3. Shiba Inu (SHIB) — A growing meme coin ecosystem
Shiba Inu is a developing meme coin ecosystem that was initially airdropped to Vitalik Buterin and was developed as an ERC-20 token on the Ethereum platform. Due to the increased visibility of SHIB as a result, the native token’s price rose extremely quickly. SHIB’s entire market cap was $43.5 billion at the height of the 2021 bull market.
Shiba Inu has made significant progress since then to maintain its standing as one of the powerful meme coins in Web3. Shiba Inu now has more options thanks to Shibarium, a layer-2 scaling solution that employs SHIB as its native crypto asset. On Shibarium, developers may release highly usable meme coin dApps and receive access to millions of active users.
Shiba Inu could soon establish itself as Web3’s first complete ecosystem for meme coins. It provides EVM-compatible smart contracts and a wide range of applications, such as borrow-and-lend protocols, virtual reality metaverses, and play-to-earn games. SHIB has significant growth potential because it is essential to the Shibarium trading process.
4. The first meme coin is Dogecoin (DOGE).
The first meme coin to appear on the cryptocurrency scene was Dogecoin, which is still the best meme coin available today. A scalable replacement for cumbersome proof-of-work protocols, DOGE offers excellent security, decentralisation, and the ability to process transactions more quickly and cheaply.
Elon Musk and other prominent investors have openly backed DOGE. Dogecoin’s current utility as a peer-to-peer payment method frequently used to tip content creators would be aligned with the possibility of DOGE being utilised as a native currency on the X platform, according to rumours Elon Musk has ignited.
It is unknown whether DOGE will be merged with X. Regardless, Dogecoin is one of the most recognisable brands and meme coins to invest in in the cryptocurrency space and is recognised as a payment mechanism by many independent retailers globally.