In this article, we discuss the 5 meme coins Reddit is buying for 2022. If you want to read our detailed analysis of these coins, go directly to Forget Dogecoin: 10 Meme Coins Reddit is Buying for 2022.
5. Shiba Inu
Shiba Inu is one of the oldest DOGE-inspired meme coins. It features the Shiba Inu breed of dogs, native to Japan, as its mascot. Over the past year, it is one of the meme coins that has gained the most and remains one of the hottest items on Reddit. Shiba Inu was launched in late 2020 by a group of developers known as Ryoshi. Like DOGE, Shiba has risen to prominence by becoming one of the ten largest cryptocurrencies in terms of market capitalization. It briefly attained this honor in October 2021 after the price of the coin increased by more than 1,000% in a matter of weeks, before fading away like other meme coins.
Shiba Inu initially became popular when Elon Musk tweeted a picture of his dog Floki, which is a Shiba Inu breed. The dog would eventually get its own meme coin but the Shiba Inu coin gained a lot of traction from that tweet. The market cap of Shiba even crossed DOGE at one point last year but has since lagged behind the original meme coin.
4. Akita Inu
Akita Inu is a meme coin based on the Ethereum blockchain. It was launched in February 2021. The founders envisioned the coin as a “community-driven” experiment with no team tokens. The founders claim to have sent half the total Akita tokens to Vitalik Buterin, the founder of Ethereum, and lost the other half in a Uniswap liquidity pool when their keys burned. Akita Inu is very similar to Shiba Inu, one of the most popular meme coins.
Akita Inu is available for trading on exchanges like MXC, HotBot, and Poloniex, among others. The coin gathered around 15,000 investors within three months of launching as nearly 20,000 joined the Telegram channel for the parent Akita network. The coin has a market cap of over $118 million and a volume of around 10 million.
3. Catgirl
Catgirl is a community-driven, NFT-focused cryptocurrency that aims to demonstrate real-world usage instead of being just a meme coin. The Catgirl Marketplace uses the coin to sell collectible NFTs made by talented designers and artists. The developers of the coin, through the Catgirl website, acknowledge that their project is perceived as a meme coin. However, they aim to offer rewards and other benefits to investors to outline their long-term commitment to the project.
Catgirl has a market cap of over $67 million and a trading volume of nearly 1.3 million. It is ranked 3,172 in terms of the largest cryptocurrencies by market capitalization. The price of the coin, like other meme coins, is very volatile and has changed nearly 5% between February 6th and February 7th.
2. SafeMoon
SafeMoon is a cryptocurrency launched in 2021 and was created on the Binance Smart Chain blockchain. It is well-known for charging a high transaction fees of 10% but has generated a lot of social media hype in the past few months, especially on Reddit forums. In order to encourage a long-term mindset within users, the SafeMoon network distributes half of the 10% transaction fees among long-term holders. It is also one of the reasons why this meme coin is a lot more stable than most others in the market.
SafeMoon is described as a meme coin because it has no unique usage case. The value of the coin depends solely on the investors who buy in. The coin has been promoted by celebrities like Lil Yachty, Jake Paul, and Dave Portnoy. SafeMoon has a market cap of more than $765 million but a volume of just around 319,000.
1. Gamebox
Gamebox is a cryptocurrency designed to integrate blockchain games, trading markets, and providing related cryptocurrency services. The network on which the coin operates aims to be the best gaming website on the internet. When fully functional, the website will allow gamers to win money, trade NFTs, and become part of a “metaverse” where users will be able to bring their NFTs to life in the gaming world.
Gamebox was launched in October 2021 and has high processing fees of 10% per transaction. This fee is distributed among marketing, development, and holders of the coin. Nearly 4% goes to team members. It has a market cap of $167 million and a trading volume of 631,000.
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