Meme coins are cryptos usually without any underlying utility or backup asset – often offshoots of an internet joke or meme – powered by smart contracts. They can be traded in crypto exchanges and serve as very profitable investments. Mehracki news…
Investors are usually hesitant to invest in meme coins because, most times, they do not have any real use case and are primarily controlled by online communities or the activities of influencers.
Nevertheless, meme coins have been regarded as one of the biggest upsets in the crypto space. It is no longer surprising to see illogical surges of popular cryptos like Dogecoin (DOGE) and Shiba Inu (SHIB); both coins are now firmly positioned inside the top 20 currencies by market capitalisation with strong communities. This has caused a lot of investors to rethink their decisions on meme coins.
These 3 meme coins, $DOGE, $SHIB, and Mehracki Token ($MKI), are profitable to hold, and here is why.
Dogecoin (DOGE): Influenced by Billionaire Elon Musk
Dogecoin (DOGE) was created in December 2013 as a form of joke on the existing crypto payment system. Its rise to crypto glory can be credited to Tesla CEO Elon Musk and the DOGE community on Reddit.
Dogecoin (DOGE) consistently soared to a market cap of over $88 billion in 2021 but has tanked below $15 billion by Q1 2022. We may attribute some of the reasons to the crypto market crash and that $DOGE has in 2021 been facing stiff competition from the rise of Shiba Inu.
However, Elon Musk has maintained the meme coin’s relevance despite the turbulent market conditions. His tweets and related token news alone have sent it soaring over 50,000% since the 2020 corona dump. Elon Musk’s takeover of Twitter is some of the latest news keeping the coin poised for potential stardom.
With influencers like Elon Musk at the wheel, $DOGE has been investors’ hot choice. Asides from being a meme coin, DOGE has actively partnered with profitable and non-profit organizations and movements like English club, Watford, and Doge4Water.
Shiba Inu (SHIB): A Community-Driven Meme Coin
Dubbed “the Dogecoin killer” by the SHIBArmy (Shiba Inu online community), Shiba Inu (SHIB) is a meme coin similar to Dogecoin (DOGE) – and its well-known rival. It even uses Dogecoin’s inspired Japanese dog breed, Shiba Inu, as its logo.
An anonymous group, Ryoshi, launched SHIB in August 2020 as an experiment on the influence of community driving on cryptocurrencies. Its whitepaper claimed it was created to answer the question: “What would happen if a cryptocurrency project was 100% run by its community?”
SHIB experienced a bullish surge to a market cap estimated at over $41 billion in October 2021. It has considerably reduced since then to a market cap of $12 billion (taken in May 2022). Despite this, Shiba Inu still resides in the top 20 coins by market cap.
SHIB remains a more relevant token than most meme coins. The recent crypto market crash in 2022 could have contributed to the plummeting of SHIB’s market cap. However, the SHIBArmy, comprising over 500,000 members—has remained resilient in HODLing the coin, leaving the future of the token very promising.
Mehracki Token (MKI): A Meme Coin With a Real Utility
Mehracki Token (MKI) is a promising meme coin that wants to bring back the lost love of cryptocurrencies. It is dubbed a “feel-good token” by its developers and will power the Mehracki Ecosystem.
Mehracki gives investors a real reason to invest in meme coins; the token mixes the power of the meme while also serving a real function.
Mehracki Token (MKI) will provide benefits to its holders, such as rewards from staking, shared fees from transactions on the ecosystem, and NFT rewards for tiered level MKI token holders.
The developers of the Mehracki Token (MKI) have also proposed innovative solutions to the industry that with time could serve the value of $MKI very well.
If you’ve been sceptical about meme coins in the past due to fear of losing your investment to a nonexistent project, $MKI is here to prove you wrong and provide real value and returns on your investments.
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