doge-usdTimothy St. John•Thursday, February 13, 2025•3 min read Add an article to your Reading ListRegister now to be able to add articles to your r
doge-usd
Timothy St. John•Thursday, February 13, 2025•3 min read
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As 2025 progresses, it is very clear that many memecoins are not simply silly financial jokes with little substance and no value for investors. A number of them have proven to be very lucrative.
While the vast majority of memoirs tend to flare up and then fizzle out or end up as complete scams, there are a few that stand out for their longevity, their market value, and their real world usefulness. Serious investors should not discount memecoins as a whole but should consider at least a few of them as worthy of a closer look.
The two most notable memecoins are hardly even thought of as jokes any longer- Dogecoin (DOGE) and Shiba Inu (SHIB). Dogecoin has a market cap of $38 billion, and Shiba Inu boasts a $9.5 billion market cap. These are major players in the cryptocurrency market, and they continue to become more legitimate as respected voices promote them.
Musk famously caused Dogecoin’s price to spike a number of times, connecting the coin to Tesla transactions, posting about it on social media, and then heading up a U.S. government department that shares the same name (Department of Government Efficiency- DOGE).
Shiba Inu has partly ridden Doge’s coattails, but it has proven to be a worthwhile investment on its own. This is thanks in part to its scarcity, its strong community following, and its decentralized characteristics. These are the two most noteworthy memecoins, but they are certainly not the only ones that have skyrocketed in popularity and hit the mainstream consciousness outside of the cryptocurrency market.
Lesser Memecoins Can have Incredible Value
A number of memecoins do very well for a short period of time but then have trouble hanging on in the long term. Political cryptocurrency coins are probably some of the more notable examples, with Biden and Trump-related coins which competed fiercely during a period of presidential elections. Now, the Trump and Melania coins have shown some longevity since Donald Trump took up the office of U.S. President.
The Official Melania Meme coin (MELANIA) is enjoying a 24-hour trading volume of about $60 million at the time of this writing. The Official Trump coin (TRUMP) is bringing in $2 billion in 24 hours and has hit the #36 spot on the crypto market. That is exceptional because there are thousands of other coins it must compete against on that list of rankings.
The other memecoin we must mention is Pepe (PEPE), which has overcome the odds to remain high on the marketplace and survive several market crashes. Its market cap is over $4 billion currently.
The Memecoin Dangers
Investors should be aware that the vast majority of memecoins do not last. Many of them are designed as cash grabs, which would seem to include the recent $HAWK coin named after viral internet star Haley Welch. This coin and its promoters and creators are currently embroiled in a lawsuit that claims the purpose of the coin was to pull the rug out from under its investors.
Investors should be very careful about putting the money into coins that have shot up in popularity quickly but have not been on the market for long. These coins have not established their long-term market worth and should be looked at cautiously. It is only after a memecoin has stabilized and shown widespread community support that investors can more safely buy them up with hopes that they will continue to increase in value over the coming months and years.
Timothy St. John
Financial Writer – European & US Desks
www.fxleaders.com