Meme coins are one of the most popular cryptocurrencies in the present coin market. While many of the previously launched ones rarely have applicable use cases, the new generation of meme coins feature plenty of use cases and applications. This is why most crypto enthusiasts believe the new generation of meme coins will have a longer dominance and prominence than the former. However, can they be as profitable?
Meme coins have a rich history of sharp spikes that can see investors go from zero to millions in hours. However, the unfortunate thing is that the price could also plummet at the same rate. Safemoon coin, Dogecoin, and Shiba Inu are three of the most successful meme coins in recent years, in the cryptocurrency market. This success is measured using profitability, market value, adoption level, and potential rise of fall
In this article, we review the new cryptocurrency Rocketize (JATO) that’s set to enter the meme space of the coin market, by looking inwardly into its uniqueness, potential for profitability and how it compares to Dogecoin (DOGE) and Shiba Inu (Shib) generally.
Dogecoin (DOGE) – Doge ‘Meme’ If You Can
Dogecoin (DOGE) is widely revered as the topmost meme coin, with over $9 billion market value that ranks it amongst the top ten cryptocurrencies on Coinmarketcap. Like every other meme coin, Doge was based on a popular internet meme. The open-source digital currency has an uncapped total supply and it utilizes the proof-of-work consensus mechanism. Doge gained more prominence due to Tesla’s CEO, Elon musk’s endorsement which saw Dogecoin rise in price.
Doge was forked from Litecoin with the aim of creating an exciting cryptocurrency with greater appeal than the conventional ones in the coin market. The digital currency is now currently being used for tipping and reward for carrying out any beneficial activities on Reddit crypto groups or other crypto spaces. Many new meme coins that hit the cryptocurrency market after Doge launched, aimed to copy its model, for success. This shows how successful the project is, even with its less than $1 all-time high.
Shiba Inu (Shib)
When Shiba Inu (Shib) launched in 2020, and was quickly nicknamed the DOGECOIN KILLER the aim was to break Doge dominance in the meme aspect of the crypto market. Again, Shiba Inu rode on the influence of big market players like Elon Musk and Vitalik Buterin.
The meme coin drew the attention of the countless investors that missed out on Dogecoin pump when it went from $0.0002 to $0.7 in a massive leap that saw investors go from tens to millions. Most of them didn’t regret this decision as the token did over 40% price increase in about two days after it was listed on the largest U.S based exchange, coinbase in 2021.
The coin also witnessed another surge in price when it was rumoured that it would be listed on Robinhood, even though this never came to pass even with over 500k signed petitions. The history of Shiba’s price surge is incomplete without stating how it minted a new billionaire. A wallet had bought over $8000 worth of the SHIB token while in 2020 the portfolio was later worth $5.7 billion when SHIB hit its all-time high around October 2021.
The news contributed to an increase in adoption of the meme coin and saw it briefly topple Dogecoin in market valuation on CoinmarketCap. It still ranks one of the top 20 cryptos on the platform, and merchants are now accepting SHIB as mode of payment.
The trend of new meme tokens over the years is to feature an attached utility and use case, to ensure their longevity and improve potential for adoption. Rocketize (JATO) didn’t stop here alone. The new cryptocurrency is set to be one of the first sets of Defi meme tokens that will hit the crypto market. A meme token with utility is great, but a meme token with strong application in decentralised finance is greater.
Rocketize (JATO) aims to help individuals build a better personal finance while fueling everyday fun and laughter. JATO token will be a BEP-20 token running on the Binance smart chain. The community-driven platform will have various incentives and rewards, with strong application in NFTs, building of dApps, Smart contract technology, amongst others. These features make Rocketize (JATO) unique, putting it in a position to achieve the same market success as Dogecoin and Shiba Inu with time.
The Defi meme token would soon be available on presale and it will be a good opportunity to add it to your portfolio at a low price, considering the potential.
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