Meme tokens are still cryptocurrency, but as the name implies, they are based on an internet meme or joke.
Nonetheless, this doesn’t stop them from rising to the top, as many have done. Coins like Dogecoin (DOGE) which was made as a joke, soared in the middle of 2021 with their price skyrocketing while profiting its investors immensely.
Shiba Inu (SHIB) followed in its footsteps as it flew to more than six-good of its initial value. With the release and success of these tokens, more were created and have seen or seem to have the potential to do much more.
One of these is the Mehracki (MKI) token.
Although currently about to launch its presale phase, it seems to have gathered knowledge of the shortcomings of other meme tokens and capitalised on it, equipping its ecosystem with features not only sure to build a loyal and colossal community but also to attract investors to it.
Does SafeMoon (SFM) have long-term potential?
SafeMoon (SFM) generated a frenzy of interest as soon as it was released, with community support being its most important feature.
Unlike its well-known competitors, SafeMoon (SFM) has amassed a sizable community dedicated to seeing the meme coin climb to prominence.
It was designed to withstand volatility by rewarding users and investors who keep their currencies.
SafeMoon (SFM) founders released their first tool, the SafeMoon wallet, in 2021, which has over 500,000 downloads on IOS and Android devices.
As the wallet becomes more widely used, it will inevitably draw more buyers and investors, accelerating its growth.
Shiba Inu (SHIB) is no longer just a meme coin
Shiba Inu (SHIB) was founded in 2020 as a joke coin to mock Dogecoin (DOGE) and has effectively advertised itself while avoiding scam allegations and a gradual but steady start.
Shiba Inu (SHIB) is one of the top 16 most valuable cryptocurrencies in the world, according to market capitalization.
From its debut, it has proved its ability to establish a robust and dedicated community.
Shiba Inu (SHIB) is working on ShibaSwap, a decentralised Shiba Inu (SHIB) trading platform (DEX).
SHIB’s popularity soared, much like Dogecoin (DOGE), due to Elon Musk’s tweets regarding the coin. SHIB got more attention and persuaded more investors to join in the project’s success due to its listing on significant cryptocurrency exchanges.
Although its value is currently on a decline, this cryptocurrency is predicted by experts to return to its glory days and attract profits for all its investors. It is one token you should be on the lookout for.
Mehracki (MKI): A community-driven meme token
Mehracki (MKI) is a meme coin built on the Solana (SOL) blockchain to be a feel-good token, encouraging fun moments and worry-free activities for people worldwide while generating wealth for investors.
Mehracki (MKI) would provide cheap, quick, and borderless transactions, focusing strategically on feel-good industries such as hospitality or tourism firms.
Also, users will be able to conduct transactions using MKI tokens, manage customer loyalty tokens, avoid costly intermediaries, gain first-hand insight into customer behaviour for improved services, set up a referral and feedback system, and perform other similar tasks.
The NFT community won’t be left behind as Mehracki (MKI) token holders would be given NFTs as rewards for exemplary achievements or milestones reached.
The higher the achievement, the higher the value of the NFT given to you on any NFT marketplace. This paved the way for its users to earn passive income from being a holder.
Although Dogecoin (DOGE) coin is widely regarded as the most popular meme coin, other tokens are well on their way to surpassing it, and although the time is yet unknown, these are the meme tokens to watch out for this year.
For more information on Mehracki (MKI) and the launch of its presale, visit:
Join Presale: presale.mehracki.io/register
Website: mehracki.io
Telegram: https://t.me/Mehracki_Official
As with all meme coins in the market, SafeMoon (SFM) has been on a persistent downtrend in the last week or so. But it seems the coin is about to hit a trend reversal that could usher a decisive bull run. But how will it happen? We have some answers below, starting with notable highlights.
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SFM has found strong support at $0.00118 after the recent pullback.
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A trend reversal appears likely after a period of consolidation.
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At press time, SafeMoon (SFM) was trading at $0.00103041
Data Source: CoinGecko
SafeMoon (SFM) – The trend reversal to watch
The recent downtrend we have seen in most meme coins has been brutal. But after days of decline, SafeMoon (SFM) has managed to stop the bleeding. Bulls have managed to find strong support around $0.00118. In the last couple of days, SFM has consolidated around this zone, and a trend reversal appears quite imminent.
This will easily push the coin on a decisive bull run. But how high can it rise? The upside for growth is hard to say. But looking at the chart, SFM has established a strong supply zone between $0.00165 and $0.00175.
We expect any bullish run to pull back once that zone is hit. But despite this, SFM will still gain 40% in the rally. Besides, we have seen this price action play out before. Recently, after SFM bottomed at $0.00106, it went on to rally by nearly 30%. There is no reason why this can’t happen again.
What are the benefits of buying SafeMoon (SFM)
Not many investors are going to buy meme coins during periods of market uncertainty. But meme coins can be very good for short-term trades.
At the moment, a short-term play that takes advantage of the 40% swing is very feasible. From a long-term point of view, SafeMoon is still decent. But you have to be prepared for the wild volatility.
SafeMoon (SFM) was launched as a community-driven DeFi token. Technically a meme coin, the hope was to challenge other high-growth meme coins like Shiba Inu and Dogecoin. SafeMoon exploded. Hitting all-time highs in April. But things have not really been smooth sailing ever since. Check out some highlights below:
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After hitting all-time highs in April, SafeMoon (SFM) has lost nearly 90% of its value
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In December alone, the coin has seen a monthly plunge of over 50% albeit it’s repairing some of these losses.
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Unlike other meme coins, SafeMoon (SFM) is adding more utility, including an Android and iOS version of its SafeMoon wallet.
Data source: Coinmarketcap.com
SafeMoon (SFM) – price prediction and analysis
The biggest question for most investors right now is whether SafeMoon (SFM) can replicate the explosive growth it showed in 2021. During its peak in April, the coin had in fact managed to deliver an ROI of nearly 45,000% since its inception. Headwinds in the broader crypto market have seen SafeMoon (SFM) plummet from those April highs.
At the time of writing, the coin was trading at $0.001668, down 7% in intraday trading. It’s very unlikely that we will see any major surge this year. But as SafeMoon continues to add more utility features into its ecosystem, the coin could become much more valuable in the long run.
Should you buy SafeMoon (SFM)?
It is important to note that SFM is still a meme token. Yes, we are seeing more utility features coming into the ecosystem but they are not nearly as valuable as, for example, something like Solana (SOL).
For this reason, SFM is prone to wide volatility and should be viewed as a short-term speculative asset right now. For investors who want to ride any bullish uptrend in 2022, this is the ideal time to buy SFM. But for long term value, it’s very hard to see any upside.
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Meme coins have played a significant part in cryptocurrency becoming a part of the mainstream discourse. As of mid-December 2021, the market capitalisation of all meme coins combined is $46 billion. Dogecoin (DOGE) accounts for over $22 billion, almost half of the total meme coin market cap. DOGE is currently the king of meme coins and is the 12th highest ranked of all cryptocurrencies by market cap.
Shiba Inu (SHIB) is one place below DOGE in the market cap rankings and has exploded in 2021. SHIB has increased by more than 46,000,000% from the beginning of the year. With a new year a few weeks away, experts and investors alike are wondering which cryptocurrencies, and specifically meme coins, will follow DOGE and SHIB’s lead in 2022. Some of the contenders include Safemoon (SFM), Floki Inu (FLOKI), and HUH Token (HUH).
Safemoon (SFM)
Safemoon launched in March 2021 with a supply of 777 trillion SFM tokens. A month into its existence, Safemoon skyrocketed in price. SFM was developed on the Binance Smart Chain blockchain and has a fully diluted market cap of $1.6 billion.
Initial security concerns were raised in an audit but have abated, and Safemoon’s creators have reduced the number of tokens in circulation. This is a common tactic to decrease the supply and increase the price. Since its launch, Safemoon’s price has proved somewhat volatile. This is of course not a feature unique to SFM and is a reflection of wider market forces.
It reached an all-time high that was 20,000% higher than its price upon release. It has since decreased by around 80%, which to many investors could indicate a good time to buy ahead of 2022.
Floki Inu (FLOKI)
Floki Inu was named after Elon Musk’s puppy. Musk has been a vocal supporter of meme coins, most notably DOGE. FLOKI is big on its meme origins, and is largely made up of a community that “loves and lives for memes.” FLOKI was first listed on the 10th of July 2021 but saw a price decrease in its first week. More media and viral attention from a big worldwide marketing push saw huge rises in October and November, and at its ATH it was up 8363% from its listing price.
It has since decreased by around 40%, to its current value of $0.0001367. 2022 is predicted to be a big year for the metaverse and NFTs. The announcement of an impending ‘Valhalla’ metaverse, scheduled for release in 2022, is a big indicator that FLOKI will look to continue its popularity in the new year.
HUH Token (HUH)
HUH Token is relatively new on the market, having been launched on the 6th of December. It shot up by over 1000% in its first 48 hours and reached an ATH of around 4000% higher than its starting price. In no time at all, HUH was listed on the major price aggregate platforms, CoinMarketCap and CoinGecko. After this listing, on the 14th of December, HUH increased again, by over 100%. Its current value, of $0.0001593 is 64% up on its listing price. It is due to be listed on BitForex on the 20th of December, another sign of its rapid popularity and adoption.
HUH has huge plans for the future, and stands apart from other meme coins, being dubbed as the first “utimeme” coin. HUH Token looks to carry the popularity of a meme coin but simultaneously offer utility to its holders, by encouraging long term holding. It does this by taking a small percentage of each HUH transaction and distributing it back to its community, HUH Nation. With plans to release an NFT marketplace on its roadmap, HUH has the adaptability to fit in with the metaverse, and after an extremely promising first two weeks, 2022 could be the year of HUH.