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Top 5 Meme Coins You Should Know About- Defi expert

Since the launch of Bitcoin, cryptocurrency has become pretty popular. But, meme coins are dominating the majority of the crypto market. The list of meme coins is increasing. Moreover, numerous tokens and projects are in the market with great backing and valuable use cases. However, some people are confusing all crypto coins with small caps meme coins. Also, some people even consider meme coins as just memes and not digital coins. 

These meme coins have become a huge part of decentralized finance today. People can learn defi to comprehend the role of meme coins in it.

Here we will discuss about the top meme coins at present recommended By Defi Expert: 

Table of Contents

  • Dogecoin
  • Shiba Inu
  • SafeMoon
  • Hoge Finance
  • MonaCoin
  • Closing Thoughts

Dogecoin 

About the Dogecoin community:

With its launch in 2013 by software engineers Jackson Palmer and Billy Markus, it brought newness to the crypto world. Furthermore, it is trying to challenge Bitcoin dominance as its alternative. Dogecoin uses a POW mechanism to attain consensus in its network. 

Token supply: 

At present, the inherent token DOGE does not maintain a hard cap. The early 100 billion coins were minted in 2015 because of its 1 minute block time. Hence, miners can mint more than 10,000 new DOGE within 60 seconds. Furthermore, the company supplies nearly 5 billion coins each year. 

What drives the value for Dogecoin:

At writing time, DOGE is circulating at $0.50 regardless of having an over 130 billion circulation supply. Moreover, Elon musk has been a consistent advocate of Dogecoins. Currently, SpaceX accepts DOGE coins as payment. Also, new users usually use DOGE to enter the crypto world. 

Should you invest in Dogecoin?

For Dogecoins, it is hard to maintain steady prices against the production quantity of coins on a daily basis. In addition to this, Dogecoin is yet to be involved in a significant crypto project.

The defi expert says the price is currently in a bubble zone; any increment is highly speculative. Hence it is essential to review the Dogecoin network properly before investing. 

Shiba Inu

About the Shiba community:

Shiba represents itself as an experiment in the world of decentralization. Also, it assumes itself as the Dogecoin killer. The defi expert team behind Shiba is currently attempting to build an extensive line of products. This will include decentralized exchange, a fully-fledged community and a token system. 

Token supply:

Shiba Inu has its inherent token SHIB. It is an ERC-20 token that employs Shiba Inu as its ticker. After the success of Dogecoin, SHIB is also experiencing remarkable growth. However, the token currently maintains a limited supply of 1 quadrillion. On one side, Ethereum co-founder Vitalil Buterin stores half of its token remains,  UniSwap stores the other half of tokens as liquidity. In addition, BONE and LEASH tokens also circulate under the Shiba Inu ecosystem. 

Should you invest in Shiba Inu?

As per the defi expert, the supply of SHIB tokens is not sanctionable. However, its half supply is under Ethereum, which keeps them out of circulation. Hence the value of the SHIB coin will usually rely on the decision of the Ethereum founder whether he will sell it or not. 

SafeMoon

About safeMoon community

Since its launch in March 2021 by CEO John Karony, safeMoon has been marking its significance in the crypto world. safeMoon is a type of defi token that executes on the Binance Smart Chain. The safeMoon community drives the entire project. Also, it pays extra attention to liquidity storage and a constant rewarding system. In addition to this, the unique feature of this project is that it demerits the sales of its inherent tokens safeMoon. 

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Token Supply:

As per records, safeMoon maintains a total supply of 1000 trillion, and each token is circulating in the market. However, traders using this network need to pay a 10% tax while selling their tokens. Furthermore, around 5% of the tax is sent back to the stakeholders. 

Though creators of safeMoon call it similar to a Ponzi scheme, many speculators deem it a rug pull scame. On the other hand, the platform has a user base of 2 million individuals even though it’s only two months old. Also, it offers attractive returns on investments.

Should you Invest in safeMoon?

Any individuals who are planning to invest in safeMoon must be strategic to stay safe from any potential rug scam.

Hoge Finance

About Hoge community:

It relates to Dogecoin decentralized finance that blends the memes world with yield farming. The project intends to use the total capacity of the defi infrastructure of Etherum.

Token supply: 

HOGE is the native token of Hoge Finance, also known as the meme token. The HOGE has a total supply of approx 1 trillion. Furthermore, due to the deflationary supply mechanism, its supply will reduce with time. 

Should you buy HOGE Finance?

HOGE is actually very new to the crypto arena, and it is yet to get more attention among the community. However, its use cases in the real-world market rank it above other meme coins. Even though the project is still in its developing phase, it has the potential to reach heights.

MonaCoin

About MonaCoin community:

The creator of MonaCoin is still anonymous. However, since its launch in 2013, it has become an internet sensation. It is a meme coin that depicts a cat-like figure. As per the defi expert, MONA has the potential to surpass other meme coins. 

Token supply:

The first Japanese digital asset, MONA token, is operational in numerous online as well as physical Japanese stores. Further, the total supply of MONA is around 105 million. Hence, it stands out from every other meme coin present today in the market. Moreover, Japan’s Financial service agency approves its usage.

Should you buy MONA coins?

MONA coins are also a part of the world of meme coins. However, some aspects set it apart from others. In addition to this, it has more real use cases, reasonable prices, and other regulatory advantages. 

Closing Thoughts

Communities driving the value of crypto projects are becoming a norm in the industry. Further, the GameStop saga supports this system, which meme coins are following too. However, we can not deny the fact that this system can make users lose money in the long run. In the crypto market, trends usually drive the price valuation. Though the meme coins are growing their use cases in the real world, only time will tell whether they are reliable. 

If you want to learn more on such topics, check out the BLOCKCHAIN COUNCIL. The platform offers many courses to learn defi, blockchain technology, and other relevant subjects. 

READ MORE:- Unseen challenges for new IT startup companies .

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