This year has been challenging for cryptocurrency buyers. As the value of numerous well-known crypto networks has fallen, it has been one of the most surprising and stressful moments. The bear market was bad for major cryptocurrency players like Bitcoin, Terra, and Ethereum.
One strategy to handle the volatility of cryptocurrencies is to have a solid portfolio. While a strong portfolio can help you keep track of your assets and identify which crypto is suitable for shorting and which ones are safe to own, it's not a guarantee that you'll survive challenging crypto environments like those in 2017, 2020, and 2022.
In a sense, meme coins have made a comeback this year due to the continued demand for Dogecoin and Shiba Inu, two well-known names in the meme coin market. We've seen the route that the most recognised meme coins have taken, which is taking inspiration from Elon Musk's dog which is called Floki. Hence why there are meme coins on the market called Floki Inu and Shiba Inu. Shiba Inu is a Japanese breed and also happens to be the Dogecoin mascot. Although there are many meme coins on the cryptocurrency market today, the names of the meme coins I have shared with you are the most popular.
Turbulence is on its way to the meme coin industry as Big Eyes is arising from the Japanese oceans to save and redefine what a meme coin should be all about. In this article, we will be looking at what exactly Big Eyes has to offer and how it distinguishes itself from the two 'Powerhouses' of the meme coin industry. Hopefully, by the end, you will be able to analyse and predict who will become the King, as these three coins will soon come head to head.
There are many different categories of cryptocurrencies on the market, these categories range from Play-to-Earn, and Metaverse and one of the most popular categories is meme coins that are derived from a well-known online joke or image. Some of these currencies later become exciting investments for crypto experts, with online communities playing a significant role in their development.
Though they may have a different and lighthearted origin than other cryptocurrencies, meme coins operate very similarly. Meme coins and other cryptocurrencies are assets that are considered similar to stocks and other investments, not legal tender. These cryptocurrencies function with the assistance of blockchain technology, a decentralised digital ledger that keeps track of transactions.
It's crucial to know what you're getting into before investing in meme coins or any other kind of cryptocurrency. Find out more about meme coins in the following paragraphs, including what makes them unique from other cryptocurrencies and why you should invest in them.
Big Eyes plans to make itself a community-driven coin to reroute wealth into the ecosystem of decentralised finance. The blockchain network intends to contribute 5% of its profits to a charity wallet that will support projects centred on the ocean and marine life conservation in order to safeguard an essential component of the global ecosystem.
By creating a unique mascot, Big Eyes hopes to take part in what they perceive to be a "billion-dollar market" in addition to targeting particular charitable organisations. The mascot is a big-eyed kitty with Japanese animation influences.
The fact that they chose a kitten as their symbol is a stark departure from the canine-based canon that many meme coins have typically used as their model. The organisation gives credit to cats as the originator and developer of the Big Eyes platform, a novel strategy that imaginatively attracts people while keeping to the conventional anonymity notion centred around crypto.
The token's destiny will also be decided by the community, and there are various activities planned to lure people back and revitalise the community. One of these projects, along with comic books and other media that will expand on the Big Eyes setting and characters, is the NFT Sushi Crew, in which owners of Big Eyes influenced NFTs will be able to participate in actual gatherings and events.
BIG also stands out for its dynamic tax structure, democratic community management, and tax-free fees. Thus, this idea is quite promising and has the potential to both raise meme currencies to new heights and help the bear market recover.
Billy Markus and Jackson Palmer intentionally spelt "Dog" incorrectly when they founded Dogecoin in 2013 because they didn't want their lighthearted cryptocurrency to be taken seriously. Meme coins have remained relevant for a long period. By paving the path for meme coins to be accepted in the cryptocurrency market, Dogecoin has now completely changed and redefined what a meme coin is.
Dogecoin is a decentralised open-source peer-to-peer digital currency. Its features can be compared to those of Bitcoin because it is a digital payment mechanism. The main Dogecoin website offers downloadable desktop wallets for the network.
Dogecoin continues to be a well-known cryptocurrency despite campaigns and critiques because it introduced the idea of meme tokens to the market. Many detractors contend that Dogecoin's success as a meme token is due to the tremendous influencer marketing support it receives from organisations and people all over the world. For instance, after officially endorsing Dogecoin in 2021, businessman Elon Musk has significantly influenced the coin's value and appeal.
A cryptocurrency you should keep an eye on is dogecoin because of how volatile its price fluctuations may be. Meme tokens are particularly susceptible to market sentiments, therefore one may need to trade cautiously.
A Japanese dog breed that two of the most popular cryptocurrencies use as a logo/mascot (Dogecoin & Shiba Inu) of the cryptocurrency Shiba Inu has grown in value. Built on the Ethereum ecosystem with smart-contract functionality is the decentralised meme cryptocurrency.
Shiba Inu is a meme coin pioneer and one of the top 20 cryptocurrencies by market cap. Meme coins are becoming more popular in the cryptocurrency space, even though they lack practical applications and use cases. Meme coins are characterised by their comical and lighthearted style, which helps them draw a devoted and passionate following.
Shiba Inu enables its users to lend, stake, and generate passive income on its blockchain network using SHIB, its native token. In the Shiba Inu Metaverse, the token can also be used to purchase real estate. To promote its coin and raise awareness of it on Tiktok, Shiba Inu has gotten in touch with some influencers to help the meme coin gain visibility.
Shiba Inu is widely regarded as Dogecoin's main adversary throughout the cryptocurrency sector. As a matter of fact, just after its inception in 2020 it quickly rose and surpassed Dogecoin with the help of a vast following across different social media platforms, which saw the meme crypto take on the nickname "Dogecoin Killer". At the height of the meme coin craze, Shiba Inu gained widespread recognition. Since then, it has developed into a well-known cryptocurrency and one of the biggest meme coins globally, with a live market cap of $8,067,649,713 at the time of writing this article.
A common theme we tend to see with different meme coins is that they tend to go down the route of celebrity endorsements and the influencer market. Dogecoin and Shiba Inu have both had huge success and seen their market values skyrocket because of this. Big Eyes intend to do the same with their adorable cat, with Big Eyes set to potentially hit its $50 million milestone, they are also preparing a well-thought-out social media marketing campaign to boost their project.
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.