Harshita Shrivastava
Investing in shitcoins has the potential to provide significant profits. For example, if you had invested in Shiba Inu, the second most popular shitcoin, you would have received a return of more than 20800000 percent by the end of the year.
Put another way, shitcoins can help you multiply your investment 1,000 times in the lowest period possible. However, remember that shitcoin values are considerably more likely to fall than skyrocket. Therefore, to take advantage of meme coins’ massive value gains, it’s critical to identify and purchase the best shitcoins as soon as possible.
How can you locate the next big meme currency in a sea of shitcoins?
Based on our analysis of their future development potential, we’ve compiled a list of the best ten shitcoins to invest in for 2022.
Top Shitcoins to keep an eye-on in 2022
Cryptocurrencies and shitcoins are inextricably related. The hunt for the appropriate currency may appear challenging at first, but you could be wondering which shitcoins will be the best investments in 2022.
Let’s take a closer look at the best shitcoins to buy right now to understand better what to expect in terms of token types in the future.
Magic Internet Money
The first one on our list is Magic Internet Money which ranks at #2764 on CoinMarketCap, and its price as of this writing is about $1. Its coin – the MIM token – is a stable coin that can be exchanged for any other traditional stable coin in the market. So why is it a shitcoin? Very little is known about its founding team, its support on exchanges is low, and quite frankly – it has formidable competition that renders it irrelevant.
SafeMoon
SafeMoon is a DeFi (Decentralized Finance) token. It was launched on 8th March of 2021. According to CoinMarketCap, SafeMoon ranks at #207 in the crypto market, with a capitalization capital of more than $1 billion.
The token was built on the Binance Smart Chain blockchain. Its protocol has three functions: reflection, liquidity pool acquisition, and burn.
This cryptocurrency made it in the news due to celebs like Logan Paul and rapper Lil Yachty showing interest. Its tagline – ‘Safely to the Moon’ – too has contributed to its popularity. SafeMoon will soon launch its NFT and marketplace and a coin launchpad via which users can make their cryptocurrencies.
Investing in SafeMoon may be riskier than other shitcoins due to its low liquidity.
Dogelon Mars
The following crypto token on our list is Dogelon Mars. A spin and fork of the infamous Dogecoin. This altcoin followed the steps of Dogecoin as a joke and eventually became a popular cryptocurrency.
Dogelon Mars (ELON) was released in April of 2021, while Dogecoin peaked in popularity. This was also the time when many new cryptos that replicated Dogecoin emerged. One of these was ELON, and it claimed to undo the damage caused by scam tokens.
In terms of market cap, Dogelon Mar’s token stands at #115 and has a market cap of $895 million in the crypto market as of 30th November.
Baby DogeCoin
This shitcoin needs no introduction due to its prominent name that suggests it’s another clone of Dogecoin. The coin has been billed as being the progeny of its father- the Dogecoin.
As we have mentioned before, many cryptocurrencies were inspired by the idea of Dogecoin after it reported massive price jumps and, of course, the support of Elon Musk himself. For example, baby Dogecoin witnessed a 1,000% increase in its price just two weeks after its launch in June 2021. Such a spike in the price of Baby Dogecoin can be attributed to Elon Musk’s tweets regarding the cryptocurrency. And in just 24 hours after his tweet, the cost of the cryptocurrency shot up by 228.3%.
Upon research, you’ll find that this token states to have an improved transaction speed compared to the original meme coin.
Floki
One of the best shitcoins on the list is Floki Inu. Its name is inspired by Elon Musk’s pet dog named Floki. Looking at its rank in the crypto market, Floki Inu stands at position #2792 on CoinMarketCap in November of 2021.
The official Floki website says that supporters of the Shiba Inu made this cryptocurrency. Nonetheless, this shitcoin gained significant profits in only a few months. You can thank another one of Musk’s tweets, showcasing his puppy ‘Floki’ for this increase.
Regardless, this did not last long, as cryptocurrencies, especially meme coins, fluctuate a lot in the crypto market.
However, this token is associated with various projects that make it a bit different from your usual shitcoin. For example, Floki is officially partnered with millions of Garden Movements to solve food insecurity issues, run by Kimbal Musk (brother of Elon Musk).
Floki also has many upcoming flagship projects, including an education platform called Floki Inuversity, NFT, a metaverse NFT gaming Valhalla, and Flokiplaces (merchandise marketplace).
Shiba Inu
Another token on this list, the Shiba Inu, was established as a fun alternative to the present status quo. This shitcoin debuted in 2020, claiming to be the “Dogecoin slayer.” Unfortunately, the cryptocurrency has no underlying use cases, which is an excellent example of why it is now one of the top shitcoins.
Even though the definition of a shitcoin is debatable, Shiba Inu is unmistakably a meme token. Of course, even the finest shitcoins are hazardous, but Shiba Inu’s appeal is difficult to ignore.
Shiberse, Shiba Inu’s most recent effort, will likewise dabble in the metaverse. Shiberse will, according to the newest revelation, incorporate virtual real estate, allowing users to own land. Shibeverse will contain a total of 100,600 land parcels. Currency, Breed, Growth, and Technology will be the districts on this map. Users will be able to create and manage projects on their own.
ApeCoin
The founders behind Bored Ape Yacht Club introduced Apecoin in 2022. This is a platform made up of 10,000 non-fungible Bored Ape one-of-a-kind tokens (NFTs). This marketplace sells some of the top NFTs, which are all based on the Ethereum blockchain.
ApeCoin is an ERC-20 cryptocurrency that combines governance and usefulness. When it was initially released in March 2022, the price of this top shitcoin was roughly $6.50. However, APE coins sold for approximately $40 each within hours before crashing back to earth. Apecoin was trading at $17.75 within two days.
This meme currency has a market worth of roughly $3 billion. So whether you enjoy gaming or virtual world shopping, this is one of the greatest shitcoins to invest in.
1Inch Network
Smart contract auditing specialists founded 1inch in 2020. At its core, 1inch is a decentralized exchange aggregator that allows you to compare prices for your money across several sites. The native token of the 1inch Network is 1Inch.
1Inch is a utility token as well as a governance token. As a token holder, you may participate in the future direction of the 1inch platform if you believe this is the best shitcoin to buy for your portfolio. 1inch Network has developed a unique protocol that distributes trade orders automatically.
Samoyed Coin
Solana-based shitcoin Samoyed has a lot of potential.
Samoyed Coin became one of the most frequently utilized shitcoins in May of 2021. Some of the fast-growing Solana ecosystem stars include Dogecoin, FTX exchange creator Sam Bankman-Fried, and Solana founder Anatoly Yakovenko.
These three firms and Solana’s growing popularity and user population will contribute to the top shitcoin’s price growth.
It appears that it missed the early 2021 market run, given its May 2021 launch. However, it proved its worth in November’s mini-rally, with a value gain of 1230 percent. The present value of SAMO is less than a tenth of its former peak.
LuckyBlock
Like the other shitcoins on our list, Lucky Block has adopted a strategy in the hopes of winning community support and recruiting investors. The meme coin seeks to revolutionize online gaming and provide investors with double returns on their initial investment in two ways: gambling successes and meme coin value rises.
So far, it has amassed a following on social networking networks. Trading volumes have also surged, ranging from $1 to $16 million per day.
The meme money is still in the works. However, lucky Block has proved its endurance by maintaining a positive upswing and solid trade volumes in a decreasing market, despite being 75 percent lower in price than its peak.
Final thoughts
To wrap up, these were some of the top shitcoins that have surged in volumes due to sudden popularity. A common trend among many shitcoins is that they are simple replicas of well-known meme coins such as Dogecoin. These tokens generally gain popularity after getting hyped by social media trends or endorsements by celebrities. Essentially, shitcoins are bound to be volatile and have a similar tendency to meme coins. So what’s your viewpoint on shitcoins? Are they worth it? Comment down below!
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn’t represent any investment advice or WazirX’s official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
