Memecoins are a genre of token investors love or hate depending on how much money they have made or lost. The good news is that at the current point in the cycle, memecoins remain criminally undervalued. As market sentiment flips bullish, these explosive tokens will be amongst the first to rally.
Investors, including memecoins in their portfolio now, will be astounded at the growth by the end of the year, and this article dives into the top competitors. The top meme coins crypto investors are closely tracking in 2023 are DigiToads (TOADS), Shiba Inu (SHIB), and Pepe (PEPE).
DigiToads (TOADS) Third-Gen Memecoin
DigiToads rides at the front of the wave introducing a new classification of memecoin. It builds on the genre staples with viral marketing and explosive price action but synthesizes these qualities with utilities to introduce what analysts have dubbed a ‘‘third-gen memecoin.’’
DigiToads has shown its pedigree raising $5.7 million in its presale, and the cute-toad-themed marketing employed by the protocol has clearly resonated with investors. But digging deeper into the protocol reveals a well-oiled machine designed for community benefit.
All TOADS holders will earn within and outside of the ecosystem thanks to DigiToads’ innovative economic design. Airdrops will come from within the ecosystem funded by the proceeds from the protocol’s play-to-earn in-game store. And this engaging player-versus-player game opens up another revenue stream for each season’s top-ranked players.
The Platinum Toads initiative powers rewards from outside the ecosystem. The program grants remote control of a percentage of the protocol treasury to twelve of the most skilled traders from the TOADS community and lets them trade freely within DeFi, whether that be NFTs or ERC20 coins. They keep 10% of trading profits as a reward, and the DigiToads coffers swell rapidly.
Then comes the taxation system, which ensures an optimal and consistent flow of capital throughout the protocol for holders. The protocol also burns a portion of each transaction, ensuring a down-only total supply for TOADS, making it a market leader in deflationary tokenomics.
TOADS positions itself as one of the best altcoins as well as one of the best memecoins to hold this cycle, and when all the elements of The Swamp begin firing in tandem, many investors will be priced out of $TOADS ownership.
Shiba Inu (SHIB) First-Gen Memecoin
Shiba Inu (SHIB) initially launched to rival the original memecoin Dogecoin (DOGE) and even earned the moniker ‘The Dogecoin Killer.’ Shiba Inu (SHIB) remains a first-gen memecoin, a token never intended to be a serious investment that ballooned into a multi-billion dollar market cap project.
Shiba Inu’s (SHIB) main contribution to the memecoin genre was its burning campaign. It highlighted how effective deflationary tokenomics were for accruing and locking value into a token. Analysts believe Shiba Inu (SHIB) has another rally left, forecasting a range between $0.00001336 and $0.00001688 in 2024.
However, analysts remain firm on the point that when it comes to memecoins, investors should primarily target projects with lower market caps- lower market caps mean more multiples.
Pepe (PEPE) Second-Gen Memecoin
Pepe (PEPE) is the natural iteration of Dogecoin (DOGE)- a token with no utility and wholly reliant on hype. Investors who doubt the ability of such a token to rally have not spent enough time in the crypto space.
Pepe (PEPE) does have one resounding advantage over older memecoins. It is newer and more sparkly. Hence less investor fatigue surrounds the project. This allows capital to flow into the project more quickly, and it is how $PEPE became one of the top altcoins in such a short period. Additionally, the viral marketing strength of the Pepe meme cannot be denied.
Analysts forecast an optimistic range between $0.00000269 and $0.00000330 in 2024 for this second-gen memecoin.
Closing Thoughts: Hype Cannot Sustain, Whereas Utility Can
Regarding the altcoins to watch, $TOADS, $SHIB, and $PEPE must be on every investor’s shopping list. The crucial factor for ROI potential will come down to market cap, and DigiToads leads in this metric, possessing the smallest market cap, allowing for the most significant returns.
Additionally, TOADS expands beyond the memecoin genre and could quickly become one of the top DeFi projects, given its focus on flywheel economics and passive income. Joining the DigiToads presale today puts investors in the driving seat, and they become participants in the journey of a third-generation of memecoins headed to the moon.
