10 Must-Have Memecoins That Could Surge 10x In 2023
Since the memecoin surge of 2021, thousands of new memecoin projects have been created. While the majority failed, a small percentage have since heavily influenced DeFi and attracted millions of investors worldwide. With the crypto market potentially entering a new bull market, analysts predict that a second surge could be on the way, offering huge opportunities for investors who know what projects to buy.
Before starting, it’s important to remember that memecoins are a risky investment. Therefore, only invest what you’re willing to lose and make sure you do in-depth market research before investing. To help kick-start your portfolio, this article will break down what memecoins are and how they work, 10 must-have memecoins with huge potential, and how you can buy memecoins.
What Are Memecoins?
Memecoins are a cryptocurrency spinoff of mainstream “memes” on the internet. They use the attention attracted by a meme to build a community of investors to build their own community, with memecoin communities typically creating additional memes to spread awareness of their project.
How Do Memecoins Derive Value?
Traditionally, memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) had little utility behind them. Instead, they grew in value based on general market trends (such as the 2021 crypto boom) and general hype around the project. Dogecoin (DOGE) for example, was able to increase to new highs due to Tweets by Elon Musk, which allowed Dogecoin (DOGE) to gain international traction.
However, the recent bear market has shown that memecoins need a greater utility to become long term stable investments. As a result, new memecoins are offering more use-cases and applications.
For example, projects like Apecoin (APE), Baby Doge Coin (Baby Doge) and Collateral Network (COLT) now offer a number of applications throughout DeFi and the real world. Factors such as community, potential returns, ease of purchase, and general market trends also influence the value of memecoins, with the role of communities playing a huge role in a projects success.
Now you understand what memecoins are and how they work, here are 10 must-have memecoins that could 10x in 2023.
1. Collateral Network (COLT): The New DeFi Project Revolutionizing A Trillion Dollar Market
Collateral Network is a new cryptocurrency project that’s expected to increase by 3500% during its presale. Though technically not a memecoin, Collateral Network is on track to outperform most of the memecoin market in 2023.
Collateral Network is a decentralized platform designed to overhaul the traditional crowdlending market. Despite being predicted to hit $1.3 trillion by 2023, the current crowdlending market is outdated, using slow systems and creating unnecessary barriers. Collateral Network removes many of these complexities including extensive credit checks, confusing interest rates and copious amounts of paperwork.
Instead, with Collateral Network borrowers can unlock cash from their assets in just 24 hours without ever impacting their credit rating. Here’s how it works.
Borrowers begin by sending their assets directly to Collateral Network. Collateral Network then uses artificial intelligence (AI) to accurately value assets while generating algorithmic lending rates to offer the best possible value for money.
Assets are then brought on-chain as fractionalized NFTs and sold to the Collateral Network community. By fractionalizing each NFT, lenders can get involved without needing to fund the entire loan upfront. Instead, a wider pool of smaller investors can be used to speed up funding and create more opportunities.
Lenders are incentivized with an attractive fixed interest rate on their loan, allowing them to generate a passive income similar to a bank. To guarantee fair rates, this will be agreed upon upfront and cannot be changed.
As well as being fully decentralized, Collateral Network is cross-chain compatible and has plans for additional bridging. This will guarantee fast transaction speeds and low fees for a well-rounded user experience.
Collateral Network has addressed the market issue of rug pulls by choosing to be audited. The project has been successfully audited by Solid Proof and its team has been doxxed to remove any risks.
Aside from smoother transactions, Collateral Network also removes the issue of borders. In the current market, it can be difficult for individuals to unlock liquidity (or offer it) due to geographical locations. With a borderless solution, Collateral Network removes these restrictions and unlocks new opportunities for lenders and borrowers worldwide.
Security plays a crucial role throughout the Collateral Network ecosystem. 2FA security options are used for transactions to prevent scams and regular audits will be conducted to ensure security protocols are up to date. Additionally, if a borrower defaults on their loan repayments, their asset will be sold at a private auction. This auction will be available to Collateral Network and will help recoup lenders money while providing token holders with the opportunity to buy assets below market price.
After quickly selling out during the beta stage of its presale, Collateral Network (COLT) increased in price by 40% from $0.01 to $0.014. Collateral Network is now expected to rise to $0.0168 in the next two weeks, with experts predicting that $COLT tokens will hit $0.35 in the next six months.
If that wasn’t enough, analysts believe that Collateral Network could surge further once it lists on popular exchanges such as PancakeSwap and Uniswap. This return, alongside benefits for token holders and huge long-term potential, has put Collateral Network in the spotlight of crypto whales worldwide.
2. Apecoin (APE): Pioneering BAYC Developments
ApeCoin was launched in March 2022 by Yuga Labs, the development team behind Bored Ape Yacht Club (BAYC). It was formed at the same time as the Ape Foundation, who oversees the decision-making process of the BAYC DAO. Upon launch, ApeCoin hit an all-time high of $26.70 in just one month, though its value has since dropped during the latest bear market.
ApeCoin is used as a governance token, and allows holders to vote on policies implemented throughout the ApeCoin DAO. Additionally, Apecoin holders are granted access to exclusive events, and coins will be used for games, services, and merch as the ApeCoin ecosystem develops.
Given the slow growth of memecoins in recent months, ApeCoin has made few announcements. However, the project recently went viral after a technical fault in the South Korean Exchange, Upbit, caused ApeCoin’s (APE) value to hit $90 per token. This fault caused a surge in ApeCoin (APE) sellers, and in total, over four million ApeCoin transactions were made in just 24 hours.
Since this surge, Apecoin has struggled to keep up with other memecoins. From April to May, Apecoin (APE) decreased in price by 25.06%, with one Apecoin selling for $3.2505 at the time of writing.
Although this short term decline has caused some investors to jump boat, the majority are doubling down on their investments, believing Apecoin will recover and offer good returns during the next bull market.
3. Dogecoin (DOGE): The Foundation Of Memecoins
Dogecoin was created in 2013 as a joke between two software engineers. It was officially launched to the public on December 6th, 2013, and attracted over 1 million visitors to its website in just 30 days. From 2013 to 2022 Dogecoin experienced several price increases, though it failed to gain any mainstream attention.
However, in 2020 a viral TikTok pushed the value of Dogecoin up, which was shortly followed by a price surge in 2021 which took Dogecoin to an all-time high of $0.7376. Since hitting this high, Dogecoin has attracted the attention of corporations worldwide, including SpaceX and Burger King, as well as market influencers such as Vitalik Buterin (Ethereum co-founder) and Elon Musk.
As a pioneer in the industry, Dogecoin has one of the largest communities in the DeFi industry, with over 3.7 million followers on Twitter alone. Its community is best known for sharing a range of memes about the project as well as coining phrases such as Dogecoin is “Going to the moon.”
Unfortunately, some analysts believe that Dogecoin has failed to capitalize on its success. Its current value of $0.07198 is 90.23% lower than its all-time high, and general trading activity has declined. In the last seven days Dogecoin (DOGE) has decreased in price by 9.17% and trading activity is down from over $1 billion to $300 million.
That being said, Dogecoin historical trends show that the project always bounces back when the general crypto market is up. This was seen during the recent Bitcoin (BTC) rally, in which Dogecoin increased to $0.0942. Therefore, Dogecoin remains a strong investment and one that could offer great returns in 2023.
4. Bonk (BONK): A New Memecoin With Unknown Potential
Bonk is the first Solana (SOL) based memecoin. It was airdropped to Solana NFT holders on December 25th 2022, and is linked to the Bonk DAO. Bonk was released to support the Solana community and has increased in value by 266.39% since it was first deployed.
Despite its significant price increase, Bonk still remains somewhat mysterious as far as memecoins go. The project founder remains anonymous, and the project’s digital footprint consists of a Twitter account with 107,000 followers. However, Bonk has now launched an official website with a whitepaper known as the “Bonk Paper.”
According to the official Bonk website, the project aims to help give power back to the Solana community and limit the influence of VCs. It has also launched the Bonk Swap, though the amount being traded on the swap remains unknown.
At the time of writing, one Bonk token is worth $0.0000004016. Analysts believe that Bonk could offer huge returns in 2023 should it continue building a loyal community and add value to Solana.
5. Pepe (PEPE): The Fastest Growing Memecoin In 2023
Pepe is the most recent memecoin to catch the market’s attention. In just one weekend, Pepe (PEPE) surged in price by over 1000%, triggering an influx of buyers. Since Pepe was founded in April 2023, it’s attracted almost 100,000 unique holders and has also caught the attention of crypto whales.
On the 10th of May, 3 crypto whales purchased over $4 million worth of Pepe tokens, despite Pepe decreasing in price by $0.0000004016 in the last seven days.
Pepe’s monumental rise is being compared to Shiba Inu (SHIB) and Dogecoin (DOGE), with Pepe now officially listed on MEXC Global, BitMEX and Coinmarketcap.
However, Pepe remains an extremely turbulent cryptocurrency which has caused some investors to cash out. One trader sold $2 million worth using MetaMask swaps, though ended up losing $350,000 due to a 25% slippage.
That being said, Pepe could also offer huge returns for investors who get involved before the project goes mainstream.
6. Dogelon Mars (ELON): The Memecoin Supporting Scam Victims
Dogelon Mars combines the theme of “dog memecoins” with Elon Musk, who has played a crucial role in attracting attention to the market. Dogelon Mars is built on Polygon and Ethereum and looks to support investors who have fallen victim to scams. Launched in 2021, the memecoin has a large Telegram group of 84,000 and over 300,000 followers on Twitter.
On launch, the Dogelon Mars team chose not to assign themselves any team tokens. This was designed to make the launch as fair as possible and show the Dogelon Mars community that the developers have the community’s best interest at heart. Furthermore, 50% of the Dogelon Mars token supply was sent to Vitalik Buterin, who donated them to the Methuselah Foundation.
Dogelon Mars is available on centralized exchanges such as Coinbase, as well as decentralized alternatives such as Uniswap, where Dogelon Mars can be purchased using Ethereum (ETH). With crypto scams on the rise, Dogelon Mars developers have asked token holders to donate their tokens to scam victims whenever possible, which has helped Dogelon Mars build a good reputation throughout the memecoin market.
According to the Dogelon Mars website, the project will be diversifying its portfolio with a new NFT collection and governance token. At the time of writing, one Dogelon Mars (ELON) token was available for $0.0000002116.
7. Shiba Inu (SHIB): The Memecoin Designed To Rival Dogecoin
Shiba Inu is currently the second largest memecoin in the world. Created by Ryoshi, a pseudonym developer, Shiba Inu was designed to rival Dogecoin, which at the time of release had little to no direct competitors.
Although Shiba Inu technically failed to beat Dogecoin in regards to price, it has become a popular investment and the 15th largest cryptocurrency in the world, with a market cap of $5.1 billion.
Since it was first created, Shiba Inu (SHIB) has increased in price by 654860.36%, which makes Shiba Inu one of the most profitable investments of all time. However, the project has struggled throughout the bear market, decreasing in price by 36.95% in the past year. As of May 2023, one Shiba Inu is worth $0.000008728 with analysts being extremely bullish based on recent developments.
The Shiba Inu development team wants to make Shiba Inu more than just another memecoin. They recently announced that Shiba Inu will release a layer 2 protocol in 2023. This project will be called Shibarium and will let developers create projects that offer low fees, fast transactions, and great scalability.
Shiba Inu token burning is also on the rise to push up the value of SHIB tokens in circulation. In May, Shiba Inu burn rates increased by 13070%, which has created a sense of excitement amongst remaining holders.
8. Baby Doge Coin: Attracting Attention For Animal Adoption
Baby Doge Coin is a project that uses the hype of memecoin to highlight the need for support in the animal adoption market. Since it was founded, Baby Doge Coin has helped raise $100,000 for animal charities and uses its social media pages to help spread awareness about animal adoption.
Baby Doge Coin (BabyDoge) has over 11,000 holders, though has recently suffered from a price dip of 16.76% in the last week. This has caused Baby Doge Coin trading volume to drop, though most investors are choosing to hold, believing that Baby Doge Coin could surge in 2023.
Baby Doge Coin tokens themselves are used for voting on future policies and support programs. They’ve been used to vote on everything from funding hospital bills to supporting dogs in need. As the Baby Doge Coin community continues to grow, tokens are going to grow in importance, with more tokens equaling greater voting power.
9. FLOKI (FLOKI): Educating Individuals About The Blockchain
Floki (FLOKI) was originally created as Floki Inu, and builds on the shiba inu dog design with a viking twist. The project has been nicknamed ‘The people’s cryptocurrency,’ and was created to educate everyday people about the benefits of DeFi and cryptocurrency. As of May 2023, Floki offers three projects to help spread awareness of crypto.
Its biggest project is called Valhalla. This play-to-earn metaverse lets players explore a number of islands and earn in-game rewards. They have the option to raid islands in return for NFTs. These NFTs can be used for ship upgrades, sold for profit, or reinvested via in-game buildings. Current buildings include:
- Inu versity: The Home of Professor Musk
- B’s Shop: A shop where players can buy or sell in-game items
- The Harbor: A docking station for players can begin raids
Floki’s second project is a marketplace that lets individuals buy real-world products using Floki tokens. Called FlokiPlaces, token holders can buy a range of products including shirts to help bridge the gap between DeFi and the real world.
FlokiFi is the final project offered by Floki. This digital asset locker lets individuals secure their digital assets, with over $24 million already being secured.
Floki is compatible with Ethereum and Binance Smart Chain, which makes it one of the most easily accessible tokens in this list. Tokens can be purchased on a number of exchanges such as Crypto.com, PancakeSwap and 1Inch. One token is currently available for $0.00003473 at the time of writing.
10. Sponge: The First Spongebob Memecoin
Given the number of Spongebob Squarepants memes out there, it’s hard to believe that more Spongebob memecoins don’t exist. Sponge was launched on Uniswap on May the 4th and quickly increased in value by over 500%. This caused Sponge to trend on CoinMarketCap and Dexxtools, building a market capitalization of $13 million.
Sponge describes itself as the “Krabby Patty” of memecoins, and its rise has been compared to Pepe. For many investors, Sponge brings back memories of childhood, given that Spongebob is the most popular TV show ever created, according to the Guinness World Records website.
Given Sponge’s widespread appeal, analysts believe that Sponge could easily increase in value over the next six months, potentially outperforming many of the other tokens on this list. To get involved investors can join the official Sponge Telegram Group.
Why Were Memecoins Created?
Throughout history, there has never been a means of transaction that plays on real-world jokes. So why exactly were memecoins created? Well, they weren’t exactly created on purpose. The first memecoin created was Dogecoin. Dogecoin was created in 2013 by two computer developers, Billy Markus, and Jackson Palmer. The project was a parody of a shiba inu dog meme that was popular on the internet, though neither developer had any long-term plans.
However, Dogecoin quickly gained traction, with 1 million visitors to its website in the first thirty days of its release. For the next seven years, Dogecoin remained relatively unknown outside of the cryptocurrency space, with the general public only just starting to hear about Bitcoin (BTC).
This changed in 2021 however, when Dogecoin increased in price by over 23,000%. This attracted international attention and led to the creation of thousands of new memecoins. Dogecoin itself still has little utility to this day, though many new projects in the market are using memecoin culture to build communities, raise funds for charity and prevent DeFi monopolization.
What To Look For When Buying Memecoins
According to CoinMarketCap, there are over 340 memecoins currently in circulation. While each project might be unique, only a small percentage will ultimately succeed in the future. With each project promising to be the best, finding the right memecoin to buy can be overwhelming.
When starting your search, think of what your goals are. While all memecoins could offer high returns, they’re also extremely risky. You therefore need to consider your risk tolerance, as well as how much you’re willing to lose. As with any investment, never risk money you need.
To improve your research process, here are four of the key questions you need to consider before buying a memecoin.
What Market Stage Is It In?
Market stage is an important factor to consider for any investment. When it comes to memecoins, newer projects will often offer larger short-term returns. However, they’re also riskier.
Investors buying during early market stages are more at risk of rug pulls (always check if the project has been audited), market fluctuations, and transaction slippages. Projects that are already developed such as Dogecoin, Collateral Network, and Shiba Inu can also offer great returns, though are less risky than projects just introduced.
How Much Utility Does The Project Have?
While Dogecoin has little utility, it was also the first memecoin and thus a pioneer in the industry. Hundreds of projects have looked to replicate its results with little to no success. New memecoins are now required to have practical applications.
Apecoin for example is likely going to play an important role in the biggest NFT community in the world. Collateral Network meanwhile, could revolutionize a market expected to grow to over $1 trillion by 2023. This gives both projects huge potential and prevents them from relying on market hype.
Who Is Talking About The Project?
According to the FBI, over $10 billion was lost to crypto scams in 2022. Many of these scams were conducted by groups who spread false information about the project on social media platforms such as Telegram and Twitter.
When looking at a new project, look at the publications talking about them. For example, Dogecoin became a popular talking point throughout the Reddit Group SatoshiStreetBets before its price increased. This was already an established group of well-trusted investors.
Additionally, Collateral Network has been mentioned by publications such as BeInCrypto, News BTC and the Economic Times, all of which are trusted worldwide.
How Risky Is The Investment?
Risk tolerance differs from one person to the next, though no matter your tolerance, conducting a risk assessment before you buy is a must. Memecoins are inherently riskier than traditional stocks and shares, and thus, investors must consider potential losses as well as gains.
In the past, hundreds of memecoins have increased by over 1000% only to crash entirely once they’ve made mainstream headlines. Before buying consider factors such as the project’s potential, utility, and founding team, as experienced developers are more likely to create a successful project down the line.
How You Can Buy Collateral Network (COLT) Tokens
Collateral Network is one of the fastest-growing projects on this list, with over 65% of its latest presale already sold out. Following its next presale, Collateral Network is expected to experience a second price increase of 28% following its recent 40% surge. As a result, Collateral Network tokens are in extremely high demand.
To capitalize on this great opportunity, here’s a step-by-step guide on how you can buy Collateral Network tokens.
Step 1: Search For The Official Collateral Network Website
To begin, use any search engine (Google, Brave, Bing) and search for Collateral Network. The project’s official website is: https://collateralnetwork.io/. Beware of any sites looking to replicate this.
Step 2: Begin The Purchase Process
Once on the website, use the “Buy Now” icon at the top of the page to begin the purchase process. Once clicked, you’ll be taken to a “Create Your Account” screen.
Step 3: Create Your Account
Once you’ve entered your details and created a password, choose the cryptocurrency you want to use to buy COLT tokens. Options include: Ethereum, Bitcoin, Dogecoin, Shiba Inu, The Sandbox, Decentraland and several other options.
Step 4: Connect Your Wallet and Purchase COLT
After choosing which cryptocurrency you want to use, type in your purchase amount and connect your external wallet. Collateral Network is compatible with ERC-20 compatible wallets including MetaMask.
How Can You Buy Memecoins?
Memecoins can be purchased from a cryptocurrency exchange. There are two types of exchange, decentralized and centralized.
For first time memecoin buyers, centralized exchanges are usually recommended. Centralized exchanges are less complex and often accept fiat currency. This means investors can buy memecoins straight from their bank account instead of using a decentralized cryptocurrency wallet. These exchanges also tend to be more secure and regulated by a governing body.
Decentralized exchanges are popular for investors who wish to remain anonymous or want full autonomy over their assets. To help you find the best option for you, here are two examples of each exchange type.
Centralized Exchanges
Binance
Binance is rated the safest cryptocurrency exchange in the world. As of May 2023, Binance has over 90 million users and offers a wide range of cryptocurrencies, with over 358 options and 1,420 trading pairs. Binance also offers advanced trading options for investors with more experience as well as tools designed to help educate buyers looking to understand how the exchange works.
Crypto.com
Crypto.com has over 50 million users worldwide. The platform showcases over 250 unique cryptocurrencies including their market cap, real-time prices and historical data. Crypto.com also offers an NFT market for investors looking to get involved or just look at what the market offers.
Decentralized Exchanges
PancakeSwap
PancakeSwap (CAKE) is a decentralized cryptocurrency exchange that allows for anonymous trading. The platform focuses on BEP20 tokens, a technical specification for Binance Smart Chain (BSC). Before buying on PancakeSwap, it’s important to make sure the memecoin chosen is a BEP20 token, otherwise, an alternative exchange may be needed.
With PancakeSwap, investors can also trade against liquidity pools to generate passive income. Fees on Pancakeswap are extremely low, however, the platform may appear complex to investors not used to decentralized exchange mechanics.
Uniswap
Uniswap (UNI) is another popular decentralized exchange. Unlike Pancakeswap, Uniswap focuses on ERC-20 tokens, a set of tokens created on the Ethereum network. All transactions on Uniswap are completely anonymous. Investors can connect their decentralized wallets, make a transaction and disconnect without needing an account. Uniswap also offers a number of educational resources and recent updates on its blog.
How To Reduce Memecoin Risk
Every year media outlets worldwide promote headlines about the risks associated with cryptocurrency. While investing can be risky, with the right knowledge and resources, investors can easily manage risk and profit from memecoins.
Furthermore, stricture government regulations worldwide are slowly cracking down on cryptocurrency scams. As a result, there are fewer scams in the market. That being said, it’s crucial that investors do their due diligence before investing.
Asking questions such as: whether or not the developers are doxxed, has the project been audited, who is supporting the project, what is the utility of the project and whether or not it’s valued just on hype alone can help to put investors on the right track.
Another way to quickly gather data on a memecoin is to engage with its community. Legit memecoins will have communities in groups on Telegram, Discord and social media support channels. By joining these groups investors can talk to current holders, admins and, in some cases, even developers. If admins are avoiding questions or removing members for asking them, it’s best to ignore the project.
Conclusion
As the demand for memecoins continues to grow, there are a number of opportunities for investors to make good short term and long term returns. The ten memecoins in this list are a great way to get started, with many being available on centralized exchanges for easy transactions. However, as with any investment, always conduct sufficient research to make sure you know enough about the project you plan on investing in.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
Since the memecoin surge of 2021, thousands of new memecoin projects have been created. While the majority failed, a small percentage have since heavily influenced DeFi and attracted millions of investors worldwide. With the crypto market potentially entering a new bull market, analysts predict that a second surge could be on the way, offering huge opportunities for investors who know what projects to buy.
Before starting, it’s important to remember that memecoins are a risky investment. Therefore, only invest what you’re willing to lose and make sure you do in-depth market research before investing. To help kick-start your portfolio, this article will break down what memecoins are and how they work, 10 must-have memecoins with huge potential, and how you can buy memecoins.
What Are Memecoins?
Memecoins are a cryptocurrency spinoff of mainstream “memes” on the internet. They use the attention attracted by a meme to build a community of investors to build their own community, with memecoin communities typically creating additional memes to spread awareness of their project.
How Do Memecoins Derive Value?
Traditionally, memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) had little utility behind them. Instead, they grew in value based on general market trends (such as the 2021 crypto boom) and general hype around the project. Dogecoin (DOGE) for example, was able to increase to new highs due to Tweets by Elon Musk, which allowed Dogecoin (DOGE) to gain international traction.
However, the recent bear market has shown that memecoins need a greater utility to become long term stable investments. As a result, new memecoins are offering more use-cases and applications.
For example, projects like Apecoin (APE), Baby Doge Coin (Baby Doge) and Collateral Network (COLT) now offer a number of applications throughout DeFi and the real world. Factors such as community, potential returns, ease of purchase, and general market trends also influence the value of memecoins, with the role of communities playing a huge role in a projects success.
Now you understand what memecoins are and how they work, here are 10 must-have memecoins that could 10x in 2023.
1. Collateral Network (COLT): The New DeFi Project Revolutionizing A Trillion Dollar Market
Collateral Network is a new cryptocurrency project that’s expected to increase by 3500% during its presale. Though technically not a memecoin, Collateral Network is on track to outperform most of the memecoin market in 2023.
Collateral Network is a decentralized platform designed to overhaul the traditional crowdlending market. Despite being predicted to hit $1.3 trillion by 2023, the current crowdlending market is outdated, using slow systems and creating unnecessary barriers. Collateral Network removes many of these complexities including extensive credit checks, confusing interest rates and copious amounts of paperwork.
Instead, with Collateral Network borrowers can unlock cash from their assets in just 24 hours without ever impacting their credit rating. Here’s how it works.
Borrowers begin by sending their assets directly to Collateral Network. Collateral Network then uses artificial intelligence (AI) to accurately value assets while generating algorithmic lending rates to offer the best possible value for money.
Assets are then brought on-chain as fractionalized NFTs and sold to the Collateral Network community. By fractionalizing each NFT, lenders can get involved without needing to fund the entire loan upfront. Instead, a wider pool of smaller investors can be used to speed up funding and create more opportunities.
Lenders are incentivized with an attractive fixed interest rate on their loan, allowing them to generate a passive income similar to a bank. To guarantee fair rates, this will be agreed upon upfront and cannot be changed.
As well as being fully decentralized, Collateral Network is cross-chain compatible and has plans for additional bridging. This will guarantee fast transaction speeds and low fees for a well-rounded user experience.
Collateral Network has addressed the market issue of rug pulls by choosing to be audited. The project has been successfully audited by Solid Proof and its team has been doxxed to remove any risks.
Aside from smoother transactions, Collateral Network also removes the issue of borders. In the current market, it can be difficult for individuals to unlock liquidity (or offer it) due to geographical locations. With a borderless solution, Collateral Network removes these restrictions and unlocks new opportunities for lenders and borrowers worldwide.
Security plays a crucial role throughout the Collateral Network ecosystem. 2FA security options are used for transactions to prevent scams and regular audits will be conducted to ensure security protocols are up to date. Additionally, if a borrower defaults on their loan repayments, their asset will be sold at a private auction. This auction will be available to Collateral Network and will help recoup lenders money while providing token holders with the opportunity to buy assets below market price.
After quickly selling out during the beta stage of its presale, Collateral Network (COLT) increased in price by 40% from $0.01 to $0.014. Collateral Network is now expected to rise to $0.0168 in the next two weeks, with experts predicting that $COLT tokens will hit $0.35 in the next six months.
If that wasn’t enough, analysts believe that Collateral Network could surge further once it lists on popular exchanges such as PancakeSwap and Uniswap. This return, alongside benefits for token holders and huge long-term potential, has put Collateral Network in the spotlight of crypto whales worldwide.
2. Apecoin (APE): Pioneering BAYC Developments
ApeCoin was launched in March 2022 by Yuga Labs, the development team behind Bored Ape Yacht Club (BAYC). It was formed at the same time as the Ape Foundation, who oversees the decision-making process of the BAYC DAO. Upon launch, ApeCoin hit an all-time high of $26.70 in just one month, though its value has since dropped during the latest bear market.
ApeCoin is used as a governance token, and allows holders to vote on policies implemented throughout the ApeCoin DAO. Additionally, Apecoin holders are granted access to exclusive events, and coins will be used for games, services, and merch as the ApeCoin ecosystem develops.
Given the slow growth of memecoins in recent months, ApeCoin has made few announcements. However, the project recently went viral after a technical fault in the South Korean Exchange, Upbit, caused ApeCoin’s (APE) value to hit $90 per token. This fault caused a surge in ApeCoin (APE) sellers, and in total, over four million ApeCoin transactions were made in just 24 hours.
Since this surge, Apecoin has struggled to keep up with other memecoins. From April to May, Apecoin (APE) decreased in price by 25.06%, with one Apecoin selling for $3.2505 at the time of writing.
Although this short term decline has caused some investors to jump boat, the majority are doubling down on their investments, believing Apecoin will recover and offer good returns during the next bull market.
3. Dogecoin (DOGE): The Foundation Of Memecoins
Dogecoin was created in 2013 as a joke between two software engineers. It was officially launched to the public on December 6th, 2013, and attracted over 1 million visitors to its website in just 30 days. From 2013 to 2022 Dogecoin experienced several price increases, though it failed to gain any mainstream attention.
However, in 2020 a viral TikTok pushed the value of Dogecoin up, which was shortly followed by a price surge in 2021 which took Dogecoin to an all-time high of $0.7376. Since hitting this high, Dogecoin has attracted the attention of corporations worldwide, including SpaceX and Burger King, as well as market influencers such as Vitalik Buterin (Ethereum co-founder) and Elon Musk.
As a pioneer in the industry, Dogecoin has one of the largest communities in the DeFi industry, with over 3.7 million followers on Twitter alone. Its community is best known for sharing a range of memes about the project as well as coining phrases such as Dogecoin is “Going to the moon.”
Unfortunately, some analysts believe that Dogecoin has failed to capitalize on its success. Its current value of $0.07198 is 90.23% lower than its all-time high, and general trading activity has declined. In the last seven days Dogecoin (DOGE) has decreased in price by 9.17% and trading activity is down from over $1 billion to $300 million.
That being said, Dogecoin historical trends show that the project always bounces back when the general crypto market is up. This was seen during the recent Bitcoin (BTC) rally, in which Dogecoin increased to $0.0942. Therefore, Dogecoin remains a strong investment and one that could offer great returns in 2023.
4. Bonk (BONK): A New Memecoin With Unknown Potential
Bonk is the first Solana (SOL) based memecoin. It was airdropped to Solana NFT holders on December 25th 2022, and is linked to the Bonk DAO. Bonk was released to support the Solana community and has increased in value by 266.39% since it was first deployed.
Despite its significant price increase, Bonk still remains somewhat mysterious as far as memecoins go. The project founder remains anonymous, and the project’s digital footprint consists of a Twitter account with 107,000 followers. However, Bonk has now launched an official website with a whitepaper known as the “Bonk Paper.”
According to the official Bonk website, the project aims to help give power back to the Solana community and limit the influence of VCs. It has also launched the Bonk Swap, though the amount being traded on the swap remains unknown.
At the time of writing, one Bonk token is worth $0.0000004016. Analysts believe that Bonk could offer huge returns in 2023 should it continue building a loyal community and add value to Solana.
5. Pepe (PEPE): The Fastest Growing Memecoin In 2023
Pepe is the most recent memecoin to catch the market’s attention. In just one weekend, Pepe (PEPE) surged in price by over 1000%, triggering an influx of buyers. Since Pepe was founded in April 2023, it’s attracted almost 100,000 unique holders and has also caught the attention of crypto whales.
On the 10th of May, 3 crypto whales purchased over $4 million worth of Pepe tokens, despite Pepe decreasing in price by $0.0000004016 in the last seven days.
Pepe’s monumental rise is being compared to Shiba Inu (SHIB) and Dogecoin (DOGE), with Pepe now officially listed on MEXC Global, BitMEX and Coinmarketcap.
However, Pepe remains an extremely turbulent cryptocurrency which has caused some investors to cash out. One trader sold $2 million worth using MetaMask swaps, though ended up losing $350,000 due to a 25% slippage.
That being said, Pepe could also offer huge returns for investors who get involved before the project goes mainstream.
6. Dogelon Mars (ELON): The Memecoin Supporting Scam Victims
Dogelon Mars combines the theme of “dog memecoins” with Elon Musk, who has played a crucial role in attracting attention to the market. Dogelon Mars is built on Polygon and Ethereum and looks to support investors who have fallen victim to scams. Launched in 2021, the memecoin has a large Telegram group of 84,000 and over 300,000 followers on Twitter.
On launch, the Dogelon Mars team chose not to assign themselves any team tokens. This was designed to make the launch as fair as possible and show the Dogelon Mars community that the developers have the community’s best interest at heart. Furthermore, 50% of the Dogelon Mars token supply was sent to Vitalik Buterin, who donated them to the Methuselah Foundation.
Dogelon Mars is available on centralized exchanges such as Coinbase, as well as decentralized alternatives such as Uniswap, where Dogelon Mars can be purchased using Ethereum (ETH). With crypto scams on the rise, Dogelon Mars developers have asked token holders to donate their tokens to scam victims whenever possible, which has helped Dogelon Mars build a good reputation throughout the memecoin market.
According to the Dogelon Mars website, the project will be diversifying its portfolio with a new NFT collection and governance token. At the time of writing, one Dogelon Mars (ELON) token was available for $0.0000002116.
7. Shiba Inu (SHIB): The Memecoin Designed To Rival Dogecoin
Shiba Inu is currently the second largest memecoin in the world. Created by Ryoshi, a pseudonym developer, Shiba Inu was designed to rival Dogecoin, which at the time of release had little to no direct competitors.
Although Shiba Inu technically failed to beat Dogecoin in regards to price, it has become a popular investment and the 15th largest cryptocurrency in the world, with a market cap of $5.1 billion.
Since it was first created, Shiba Inu (SHIB) has increased in price by 654860.36%, which makes Shiba Inu one of the most profitable investments of all time. However, the project has struggled throughout the bear market, decreasing in price by 36.95% in the past year. As of May 2023, one Shiba Inu is worth $0.000008728 with analysts being extremely bullish based on recent developments.
The Shiba Inu development team wants to make Shiba Inu more than just another memecoin. They recently announced that Shiba Inu will release a layer 2 protocol in 2023. This project will be called Shibarium and will let developers create projects that offer low fees, fast transactions, and great scalability.
Shiba Inu token burning is also on the rise to push up the value of SHIB tokens in circulation. In May, Shiba Inu burn rates increased by 13070%, which has created a sense of excitement amongst remaining holders.
8. Baby Doge Coin: Attracting Attention For Animal Adoption
Baby Doge Coin is a project that uses the hype of memecoin to highlight the need for support in the animal adoption market. Since it was founded, Baby Doge Coin has helped raise $100,000 for animal charities and uses its social media pages to help spread awareness about animal adoption.
Baby Doge Coin (BabyDoge) has over 11,000 holders, though has recently suffered from a price dip of 16.76% in the last week. This has caused Baby Doge Coin trading volume to drop, though most investors are choosing to hold, believing that Baby Doge Coin could surge in 2023.
Baby Doge Coin tokens themselves are used for voting on future policies and support programs. They’ve been used to vote on everything from funding hospital bills to supporting dogs in need. As the Baby Doge Coin community continues to grow, tokens are going to grow in importance, with more tokens equaling greater voting power.
9. FLOKI (FLOKI): Educating Individuals About The Blockchain
Floki (FLOKI) was originally created as Floki Inu, and builds on the shiba inu dog design with a viking twist. The project has been nicknamed ‘The people’s cryptocurrency,’ and was created to educate everyday people about the benefits of DeFi and cryptocurrency. As of May 2023, Floki offers three projects to help spread awareness of crypto.
Its biggest project is called Valhalla. This play-to-earn metaverse lets players explore a number of islands and earn in-game rewards. They have the option to raid islands in return for NFTs. These NFTs can be used for ship upgrades, sold for profit, or reinvested via in-game buildings. Current buildings include:
- Inu versity: The Home of Professor Musk
- B’s Shop: A shop where players can buy or sell in-game items
- The Harbor: A docking station for players can begin raids
Floki’s second project is a marketplace that lets individuals buy real-world products using Floki tokens. Called FlokiPlaces, token holders can buy a range of products including shirts to help bridge the gap between DeFi and the real world.
FlokiFi is the final project offered by Floki. This digital asset locker lets individuals secure their digital assets, with over $24 million already being secured.
Floki is compatible with Ethereum and Binance Smart Chain, which makes it one of the most easily accessible tokens in this list. Tokens can be purchased on a number of exchanges such as Crypto.com, PancakeSwap and 1Inch. One token is currently available for $0.00003473 at the time of writing.
10. Sponge: The First Spongebob Memecoin
Given the number of Spongebob Squarepants memes out there, it’s hard to believe that more Spongebob memecoins don’t exist. Sponge was launched on Uniswap on May the 4th and quickly increased in value by over 500%. This caused Sponge to trend on CoinMarketCap and Dexxtools, building a market capitalization of $13 million.
Sponge describes itself as the “Krabby Patty” of memecoins, and its rise has been compared to Pepe. For many investors, Sponge brings back memories of childhood, given that Spongebob is the most popular TV show ever created, according to the Guinness World Records website.
Given Sponge’s widespread appeal, analysts believe that Sponge could easily increase in value over the next six months, potentially outperforming many of the other tokens on this list. To get involved investors can join the official Sponge Telegram Group.
Why Were Memecoins Created?
Throughout history, there has never been a means of transaction that plays on real-world jokes. So why exactly were memecoins created? Well, they weren’t exactly created on purpose. The first memecoin created was Dogecoin. Dogecoin was created in 2013 by two computer developers, Billy Markus, and Jackson Palmer. The project was a parody of a shiba inu dog meme that was popular on the internet, though neither developer had any long-term plans.
However, Dogecoin quickly gained traction, with 1 million visitors to its website in the first thirty days of its release. For the next seven years, Dogecoin remained relatively unknown outside of the cryptocurrency space, with the general public only just starting to hear about Bitcoin (BTC).
This changed in 2021 however, when Dogecoin increased in price by over 23,000%. This attracted international attention and led to the creation of thousands of new memecoins. Dogecoin itself still has little utility to this day, though many new projects in the market are using memecoin culture to build communities, raise funds for charity and prevent DeFi monopolization.
What To Look For When Buying Memecoins
According to CoinMarketCap, there are over 340 memecoins currently in circulation. While each project might be unique, only a small percentage will ultimately succeed in the future. With each project promising to be the best, finding the right memecoin to buy can be overwhelming.
When starting your search, think of what your goals are. While all memecoins could offer high returns, they’re also extremely risky. You therefore need to consider your risk tolerance, as well as how much you’re willing to lose. As with any investment, never risk money you need.
To improve your research process, here are four of the key questions you need to consider before buying a memecoin.
What Market Stage Is It In?
Market stage is an important factor to consider for any investment. When it comes to memecoins, newer projects will often offer larger short-term returns. However, they’re also riskier.
Investors buying during early market stages are more at risk of rug pulls (always check if the project has been audited), market fluctuations, and transaction slippages. Projects that are already developed such as Dogecoin, Collateral Network, and Shiba Inu can also offer great returns, though are less risky than projects just introduced.
How Much Utility Does The Project Have?
While Dogecoin has little utility, it was also the first memecoin and thus a pioneer in the industry. Hundreds of projects have looked to replicate its results with little to no success. New memecoins are now required to have practical applications.
Apecoin for example is likely going to play an important role in the biggest NFT community in the world. Collateral Network meanwhile, could revolutionize a market expected to grow to over $1 trillion by 2023. This gives both projects huge potential and prevents them from relying on market hype.
Who Is Talking About The Project?
According to the FBI, over $10 billion was lost to crypto scams in 2022. Many of these scams were conducted by groups who spread false information about the project on social media platforms such as Telegram and Twitter.
When looking at a new project, look at the publications talking about them. For example, Dogecoin became a popular talking point throughout the Reddit Group SatoshiStreetBets before its price increased. This was already an established group of well-trusted investors.
Additionally, Collateral Network has been mentioned by publications such as BeInCrypto, News BTC and the Economic Times, all of which are trusted worldwide.
How Risky Is The Investment?
Risk tolerance differs from one person to the next, though no matter your tolerance, conducting a risk assessment before you buy is a must. Memecoins are inherently riskier than traditional stocks and shares, and thus, investors must consider potential losses as well as gains.
In the past, hundreds of memecoins have increased by over 1000% only to crash entirely once they’ve made mainstream headlines. Before buying consider factors such as the project’s potential, utility, and founding team, as experienced developers are more likely to create a successful project down the line.
How You Can Buy Collateral Network (COLT) Tokens
Collateral Network is one of the fastest-growing projects on this list, with over 65% of its latest presale already sold out. Following its next presale, Collateral Network is expected to experience a second price increase of 28% following its recent 40% surge. As a result, Collateral Network tokens are in extremely high demand.
To capitalize on this great opportunity, here’s a step-by-step guide on how you can buy Collateral Network tokens.
Step 1: Search For The Official Collateral Network Website
To begin, use any search engine (Google, Brave, Bing) and search for Collateral Network. The project’s official website is: https://collateralnetwork.io/. Beware of any sites looking to replicate this.
Step 2: Begin The Purchase Process
Once on the website, use the “Buy Now” icon at the top of the page to begin the purchase process. Once clicked, you’ll be taken to a “Create Your Account” screen.
Step 3: Create Your Account
Once you’ve entered your details and created a password, choose the cryptocurrency you want to use to buy COLT tokens. Options include: Ethereum, Bitcoin, Dogecoin, Shiba Inu, The Sandbox, Decentraland and several other options.
Step 4: Connect Your Wallet and Purchase COLT
After choosing which cryptocurrency you want to use, type in your purchase amount and connect your external wallet. Collateral Network is compatible with ERC-20 compatible wallets including MetaMask.
How Can You Buy Memecoins?
Memecoins can be purchased from a cryptocurrency exchange. There are two types of exchange, decentralized and centralized.
For first time memecoin buyers, centralized exchanges are usually recommended. Centralized exchanges are less complex and often accept fiat currency. This means investors can buy memecoins straight from their bank account instead of using a decentralized cryptocurrency wallet. These exchanges also tend to be more secure and regulated by a governing body.
Decentralized exchanges are popular for investors who wish to remain anonymous or want full autonomy over their assets. To help you find the best option for you, here are two examples of each exchange type.
Centralized Exchanges
Binance
Binance is rated the safest cryptocurrency exchange in the world. As of May 2023, Binance has over 90 million users and offers a wide range of cryptocurrencies, with over 358 options and 1,420 trading pairs. Binance also offers advanced trading options for investors with more experience as well as tools designed to help educate buyers looking to understand how the exchange works.
Crypto.com
Crypto.com has over 50 million users worldwide. The platform showcases over 250 unique cryptocurrencies including their market cap, real-time prices and historical data. Crypto.com also offers an NFT market for investors looking to get involved or just look at what the market offers.
Decentralized Exchanges
PancakeSwap
PancakeSwap (CAKE) is a decentralized cryptocurrency exchange that allows for anonymous trading. The platform focuses on BEP20 tokens, a technical specification for Binance Smart Chain (BSC). Before buying on PancakeSwap, it’s important to make sure the memecoin chosen is a BEP20 token, otherwise, an alternative exchange may be needed.
With PancakeSwap, investors can also trade against liquidity pools to generate passive income. Fees on Pancakeswap are extremely low, however, the platform may appear complex to investors not used to decentralized exchange mechanics.
Uniswap
Uniswap (UNI) is another popular decentralized exchange. Unlike Pancakeswap, Uniswap focuses on ERC-20 tokens, a set of tokens created on the Ethereum network. All transactions on Uniswap are completely anonymous. Investors can connect their decentralized wallets, make a transaction and disconnect without needing an account. Uniswap also offers a number of educational resources and recent updates on its blog.
How To Reduce Memecoin Risk
Every year media outlets worldwide promote headlines about the risks associated with cryptocurrency. While investing can be risky, with the right knowledge and resources, investors can easily manage risk and profit from memecoins.
Furthermore, stricture government regulations worldwide are slowly cracking down on cryptocurrency scams. As a result, there are fewer scams in the market. That being said, it’s crucial that investors do their due diligence before investing.
Asking questions such as: whether or not the developers are doxxed, has the project been audited, who is supporting the project, what is the utility of the project and whether or not it’s valued just on hype alone can help to put investors on the right track.
Another way to quickly gather data on a memecoin is to engage with its community. Legit memecoins will have communities in groups on Telegram, Discord and social media support channels. By joining these groups investors can talk to current holders, admins and, in some cases, even developers. If admins are avoiding questions or removing members for asking them, it’s best to ignore the project.
Conclusion
As the demand for memecoins continues to grow, there are a number of opportunities for investors to make good short term and long term returns. The ten memecoins in this list are a great way to get started, with many being available on centralized exchanges for easy transactions. However, as with any investment, always conduct sufficient research to make sure you know enough about the project you plan on investing in.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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