If you are an avid crypto enthusiast, there is no chance that you would not have heard the buzz about the ongoing meme coin season. Multiple cartoon characters and random meme-inspired cryptocurrencies registering astronomical returns are the new normals in the crypto market.
These tremendous returns have rapidly created a new wave of excitement for bear market-affected crypto investors. But which are these coins that are giving phenomenal profit to their investors?
We will know that in this blog.
So, fasten your seatbelts because we are about to explore the memecoins with jaw-dropping hikes in 2023.
Most Trending Memecoins in 2023
Pepe (PEPE)
Came intending to dethrone the Dog theme cryptocurrencies from their positions, PEPE has taken the crypto world by storm through its unbelievably high returns. Launched on April 17, 2023, PEPE grossed over 5000% in only two weeks of its release. PEPE takes inspiration from the humanoid frog meme created by Matt Furie in the early 2000s. Its official website describes itself as the 'most memeable meme coin in existence', and PEPE almost proved it by making a loud statement through its price performance.
It is an ERC20 token, operating on the Ethereum blockchain, with a token supply of 420 trillion. Despite the other cryptocurrencies struggling to maintain their support levels in the bearish scenario, PEPE has been experiencing a non-stop bullish phase since its launch. It gained 1000% within two days and rose 6464% in 20 days, making the rags-to-riches story turn true for many of its investors.
It is important to note that Pepe has no intrinsic value and fuels by only meme energy. However, its community plans to launch Pepe merchandise, an academy, and tools to build some buy-and-burn utility for PEPE. The coin is currently getting mixed reactions from the crypto community. While some call it the opportunity of a lifetime, others consider it a pump-and-dump scheme.
If you want to buy PEPE coin in India, you can do that here.
Floki Inu (FLOKI)
FLOKI is a familiar name in the meme coin domain. This meme coin comes with a pretty interesting story of creation. As we know, Almost all dog-based meme coins enjoy strong support from Elon Musk. He once tweeted that he would call his Shiba Inu breed pet dog “Floki”. This tweet led to the development of a new meme coin, Floki Inu, inspired by the name of his pet. Later, the team of Floki Inu renamed it Floki.
A big distinction between Floki and many other memecoins is its utility-based infrastructure. While most memecoins lack intrinsic value and gain popularity only because of their memetic power, the Floki whitepaper describes FLOKI as the utility token for the entire Floki ecosystem. It has use cases in four Floki projects, which are - Valhcriticala (Metaverse game), FlokiFi (a DeFi ecosystem), Floki University (a crypto education platform), and FlokiPlaces (an NFT and merchandise marketplace.)
FLOKI has made headlines multiple times in 2023 for its price-shooting new highs. Earlier this year in February, Elon Musk announced his pet Floki, the new CEO of his company Twitter. He shared a picture of his dog, Floki, wearing a Twitter logo T-shirt and sitting on the chair of the Twitter CEO. This news pumped FLOKI prices to over 160% in a week. It is not the first time, Musk's tweets caused FLOKI to rally. In October 2021, when Musk tweeted a picture of his pet, Floki, sitting in his Tesla car, FLOKI hit an all-time high of $0.00007477. That time, it registered a 120X hike in only three months. Since FLOKI is a comparatively new meme coin in the dog-based meme coin space, it is currently buyable at a low price at the current time. If things go well with its developments, FLOKI can reward its early buyers with handsome profits.
If all that made you willing to buy FLOKI in India, You can make your FLOKI purchase here.
MongCoin (MONG)
Another meme coin that is experiencing big traction in 2023 is MONG. The token registered an exponential surge of 3222% in one month of its launch, grabbing the eyeballs of meme coin investors. Within the first day of its launch, the price of MONG surged from $0.000000000007958 to $0.000000008133, giving over 1000X returns to those who bought this token as soon as it hit the market. After a few days, it again registered a rally of 10X, hitting a new high of $0.0000001116. At the time of writing, the token booked an unavoidable hike of 3400% since its launch.
As a meme token, MONG launched in April 2023. However, it is associated with an already existing NFT collection, MONGS NFTs, created in January 2022. This NFT collection comprises over 6900 NFTs depicting different types of unique Mongoose. Those who own these NFTs get rewards in newly launched MONG currency.
As per the official website of MongCoin, the Mongs NFTs survived a bear market. The idea associated with Mongs NFTs was to demonstrate love for the Mongs community that values friendship and appreciates good vibes. The team behind the MongCoin projects encourages those who support their ideology and values to buy some MONG tokens. One thing highly worth mentioning is that MONG has no whitepaper and intrinsic value associated with it. The team behind the MongCoin project has allocated 6.9% of the total token supply of MONG to Mong's NFT holders as a reward for their early adoption.
About 82% of MONG tokens are reserved for liquidity pools on various platforms. The community that supports the concept of Mongs goes by the name MongMob. It describes Mong's NFTs as immortal assets surviving rug pulls and bear markets. It promotes MONG tokens as the pass to enter its virtual club.
Pooh (POOH)
The next hyped token in the ongoing Memecoin season is POOH.
This Ethereum-based token is inspired by the famous bear cartoon character, Pooh, who loves honey. Surprisingly, this token witnessed a colossal elevation of 3319% within a week of its launch on 2nd May 2023.
The official website of POOH describes it as a decentralized community movement that people can smile about. It invites anyone with skills or time to contribute to the advancement of POOH. The total supply of POOH tokens is 420,690,000,000,000, 95% of which will be locked in Uniswap forever. The key for this 95% supply has been burnt and can not be revived. Only 5% of the POOH token supply is available to allocate for centralized exchange listings. Anyone owning a Metamask wallet and ETH can swap their ETH on Uniswap to buy POOH tokens by following a few simple steps.
Like PEPE, POOH also aims to leave behind the wallet address holdings of Dog theme memecoins. POOH token has a simpler design infrastructure with no presale and zero taxes. The token has had no association with any corporation till now and is paying homage to a loveable cartoon character. It has yet to have a formal roadmap or development team.
Wojak (WOJAK)
The last up in our list of top meme coins in 2023 is WOJAK.
Right after the PEPE coin warmed up the bullish sentiments of the crypto market, WOJAK showcased a stellar rally of 105% within one month of its launch.
WOJAK token draws its inspiration from a famous internet meme, Wojak, that got famous in 2010. Also known as Feels Guy, WOJAK is a simple back-outlined cartoon of a bald man with a wistful facial expression. The Wojak memes usually denote feelings of regret, melancholy, and loneliness.
The community behind the WOJAK token believes in creating an inclusive and transparent environment where everyone can thrive. WOJAK token performs the role of the native currency of the Wojak platform that can be used as a currency to buy, sell and trade memes while participating in the community-driven environment of Wojak. The maximum supply of WOJAK is 69,420,000,000, which is 6000 times less than the PEPE token. According to its official website, 98.2% liquidity of WOJAK is locked, which limits its supply as a meme token.
Final Thoughts
Crypto is experiencing a meme coin season like never before. With newly listed coins registering skyrocketing prices, it seems like the zest of crypto investors is coming back. However, the concern of meme coins turning out as pump-and-dump schemes is also not unavoidable. Moreover, most newly launched memecoins also have no intrinsic value and whitepaper. It makes them a pure gamble. Thus, We advise you to be extremely cautious while investing a penny in highly volatile crypto assets.
