Meme Coins: The Next Craze for Anime Fans in the Market
In the midst of the overall market downturn, meme coin prices have been on the rise over the past 30 days, with notable gains from Pepe Coin (PEPE), Bonk (BONK), and Floki (FLOKI). Floki saw a 34% increase on crypto exchanges, while Pepe went parabolic with a 110% surge.
The popularity of meme finance has reached such heights that VanEck, a Bitcoin ETF issuer, recently launched a Meme Coin Index, signaling the increasing acceptance of these “dog money” coins on Wall Street. In fact, even the original meme stock, Gamestop (NYSE: GME), experienced a significant surge of over 100% after a member of the Reddit WallStreetBets forum, who had led its previous bull run in January 2021, made their first post in three years.
But are the dog days over for meme coins?
As shown in the CryptoBubbles.net graphic above, the return on investment (ROI) for meme coins has been quite impressive this year. Although meme coins like Dogecoin, Pepe Coin, and Bonk are here to stay, their early returns may not be sustainable. These coins have already gained significant market capitalizations of $21 billion, $4.6 billion, and $1.5 billion, respectively, making them small economies in their own right. However, the days of astronomical returns for early investors may be over, as these coins have reached a level of popularity that no longer allows for the ultra-steep adoption curves seen in newer internet currencies.
So, where can altcoin investors with a high-risk tolerance find the next meme coins with the potential for explosive growth?
One unconventional way to evaluate the prospects of new meme coins is to ask whether anime fans would be interested. Dogecoin, the first meme coin, became a Top 10 cryptocurrency largely due to its association with the Doge meme, which gained popularity in 2013. The Shiba Inu, featured on Dogecoin, is a beloved dog breed in Japan, appealing to anime fans. Similarly, the Pepe meme, which originated on the 4/chan boards, has a strong following among anime enthusiasts.
In the altcoin community, there is a growing belief that cat memes could be the next big thing, leading to significant price surges and rallies. Anime fans have a special affinity for cats, as evident from the overwhelming search results for “anime cats” compared to “anime dogs.” This trend has sparked interest in meme coin projects like Kai Cat (KAI) on the Ethereum network, which is currently in its presale phase. Investors looking for the next big opportunity may want to consider investing in Kai Cat before its price starts fluctuating in the multi-billion crypto liquidity markets.
While this investment strategy may not align with traditional financial advice, it presents an exciting opportunity for those willing to take risks and explore new and unconventional avenues for potential returns.
Follow Us on Google News
Disclaimer: The above text is an advertorial article and does not reflect the editorial content of Cryptonews.com.
