In the cryptocurrency market, there are different types of cryptocurrencies. One of the most well-known types is meme pieces, which are created from well-known jokes or online images. Other categories include play-to-earn tokens and DeFi coins. Online communities have played a significant role in the growth of some of these currencies, making them attractive investments for crypto experts.
Meme coins work quite similar to other cryptocurrencies despite their unique and humorous origin. Although not legal in cash, meme coins and other cryptocurrencies are assets compared to stocks and other types of investments. Blockchain technology, a decentralized digital ledger that records transactions, helps these cryptocurrencies work.
Before investing in meme coins or any other type of cryptocurrency, it is imperative to understand what you are getting into. In the following paragraphs, you will learn more about Dogecoin (DOGE), Apecoin (APE), and Big Eyes (BIG), three meme coins poised to invade the meme coin space.
The Meme Coin Pioneer – Dogecoin
Dogecoin (DOGE), which was developed in 2013 by software developers Billy Markus and Jackson Palmer, is the first and best known meme coin. Although the founders originally intended the token to be a parody of Bitcoin, a surprising turn of events gave DOGE an almost religious level of popularity among the crypto community. Ten years later, DOGE confidently retains its place among the top 10 cryptocurrencies by market capitalization and has significant expansion plans.
When eccentric billionaire and SpaceX CEO Elon Musk openly declared his support for the coin, public support skyrocketed. Since appearing on Saturday Night Live, Musk has actively promoted the Dogecoin project, and as a result, its value has surged, reaching an incredible market value of $88 billion in May 2021. However, the bull run was short-lived. , and when the crypto winter hit in early 2022, meme coins began to lose value rapidly.
The Utility Meme Token – ApeCoin
The main development goal of ApeCoin was to promote decentralization, and its creators intended the APE token to act as the engine of the ApeCoin DAO. Members of a decentralized autonomous organization would be able to decide on the distribution of ecosystem funds, governance guidelines, upcoming initiatives, alliances, and other strategies.
ApeCoin is the governance token of the APE ecosystem, allowing token holders to participate in ApeCoin DAO and providing its members with shared, open money that can be used without the use of centralized intermediaries. ApeCoin DAO members voted to transfer 62% of all ApeCoin to the Ecosystem Fund, which will foster community initiatives.
Although the initial design of the token aimed to simplify the governance of the DAO, its utilitarian side unexpectedly proved more appealing to investors outside the community. Gucci is one of the most recent companies to start accepting ApeCoin as payment as a Web 3.0 token.
The feline coin – Big Eyes Coin
Big Eyes Coin (BIG) is a new coin created specifically to preserve an important part of the financial ecosystem and transfer value into the DeFi ecosystem. The mascot of this cryptocurrency is a cleverly created big-eyed cat caricature.
It is a meme token that wants to establish its brand through the influencer market. Given the personality this token possesses and the outstanding design and marketing team behind it, it has a high chance of being embraced by influencers and celebrities around the world. Big Eyes (BIG) also has admirable humanitarian intentions, as it intends to donate 5% of the tokens to organizations that promote the preservation of aquatic habitats and the oceans.
In terms of community, Big Eyes bases its fan base on the notion of preserving the environment. However, unlike many companies in the past, this company has a very open plan published in its white paper instead of making meaningless promises. For example, the project’s charity wallet, which is intended to protect marine life, will hold 5% of the token supply. Additionally, BIG token holders will choose which charity will receive the aforementioned 1% of the proceeds from the sale of the NFTs.
More information about the project
Site to buy the project: Big Eyes (BIG)