#Memecoin Trends On Twitter As The Public Decides Which Crypto Is The Best Bet
Meme-based cryptocurrencies are causing plenty of debate online as Twitter users decide which one is best.
For many, cryptocurrencies were complicated to begin with. However, they have taken on a new life by incorporating memes and internet culture. This doesn’t change how the de-centralised currencies work, but it has seemingly seen some ventures garner more support than they might have otherwise.
For example, Dogecoin, which used the Shiba Inu meme as its symbol, saw a huge spike in value as Elon Musk backed the currency. Shortly afterwards, very similar meme currencies also emerged, with the likes of Shiba Inu offering a product based on the same meme. Now it seems that there’s even a meme of Elon Musk that is becoming a cryptocurrency.
Due to the impact the likes of Musk are having on the meme-based currency, it is clear that some are joking about the market when making these cryptocurrencies. However, these kinds of posts have led to discussions about which one is the best to invest in.
Many have already noted that the likes of Shiba Inu give investors the chance to buy with less capital while offering many of the positives that Dogecoin has, as well as a similar logo. With that said, Shiba Inu has been met with scepticism from insiders. Some were concerned about its intentions and described it as ‘cynical,’ but this hasn’t stopped similar currencies emerging, such as ShibaPup and DogeBSC.
This trend has given way to some unusual investments, with Barstool Sports executive Dave Portnoy explaining that he’s investing $40,000 in Safe Moon in a tongue-in-cheek video. However, before a movement starts, it’s worth remembering the currency does punish users for trading it.
It seems that there are plenty of meme and joke-based options when it comes to crypto-currency. While many online seem to have their favourites, it is important to remember that the decentralised nature of any investment doesn’t make it safe. After all, even Dogecoin saw a sudden decrease in value after Musk called it a ‘hustle’.
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