Crypto: Are Meme Coins Back In Business?
Meme-coins were all the rage in 2021 after Tesla CEO Elon Musk announced he purchased an undisclosed amount of Dogecoin . The crypto breached the 1 Cent mark and skyrocketed to $0.73 in less than three months post his announcement. The frenzy to buy Doge reached its peak with new investors flocking into the crypto markets from around the world. Thousands of meme-coins were born in 2021 after Dogecoin ’s success and sprung up like mushrooms in the crypto markets. There was no dearth of tokens ending with ‘Inu’ in 2021 associating it with dogs, and cats, among other animals. The meme tokens rallied heavily in 2021 and early investors gained the maximum returns. Also Read: Shiba Inu: November 2022 Price Prediction However, meme coins that were touted to go ‘to the moon’ crashed dramatically to Earth in 2022. The tokens barely moved in the indices and are down more than 90% from their all-time highs of 2021. The meme-cryptos have no use cases a...