The meme coin has come a long way since its simple beginnings as nothing but a joke crypto. That is indeed the original idea behind Dogecoin (DOGE), one of the most successful meme currencies. Even its main competitor Shiba Inu (SHIB) was only created to try to topple the popularity of Dogecoin as a kind of counter-joke.
However, things have changed a lot since then and 2023 looks like it could be the year of the meme coin. In the past, these coins had to rely on gimmick marketing techniques to try and drum up price growth. The only real hope they had was their social media community which could sometimes cause the coin(s) to go viral. Elon Musk especially had a big impact on meme coin prices as generally if he tweeted about them the price would experience a boom in growth.
This is not a sustainable method for survival in the crypto world and the meme token sector has realized that. What caused this is likely a combination of the new generation coins like Tamadoge (TAMA) or the upcoming Love Hate Inu (LHINU) having projects that are much more sophisticated and developed than the original coins, and the projects themselves realizing they need to develop to survive.
Now this year in Love Hate Inu we have the most exciting meme coin launch to date and Shiba Inu are launching their own layer 2 network called Shibarium. The latter is a huge development for the industry and should have a positive trickle-down effect on all the meme tokens. Faster and cheaper transactions will now be able to take place on Shibarium and it opens up the project for much more future growth.
With that being said some projects like Floki CEO (FLOKICEO) are stuck in the past.
Why Floki CEO is crashing
As we have discussed, Meme coins in 2023 are much more sophisticated than what they started out as. We think this is the main reason that Floki CEO (FLOKICEO) is crashing. The coin was launched for similar reasons as DOGE and SHIB. Elon Musk tweeted a picture in February of his dog Floki and joked that the dog would be taking over as CEO, hence the name Floki CEO.
As we can see from the above chart the coin is just over a month into its shelf life. Things started off greatly, likely off the back of the Elon Musk buzz, but since then has seen a very rapid decline. This is likely because there is no clear future path for the coin.
The website, while likely designed that way on purpose, has a childish element to it that we think is unlikely to inspire confidence in investors. For every active user transaction, a 7% FLOKICEO reward is granted to holders which is a nice bonus but it doesn’t really have much else to it.
One of its unique selling points is everyone loves dogs and while that is true we do not think it is going to convince many to buy into the project. Love Hate Inu on the other hand looks set to be the biggest meme coin of 2023 and is currently going through a very successful presale.
Why you should buy Love Hate Inu now
Despite only being a couple of weeks old Love Hate Inu (LHINU) has already passed the $1.5 million raised point in its presale. Stage 2 is just about to begin and the price will also increase with this change, the momentum is really picking up so interested investors should probably consider getting involved as soon as possible as these low prices aren’t hanging around.
What Makes Love Hate Inu so exciting is that it is the first meme/V2E crypto hybrid. This means that users will be able to go to the site to vote on and discuss the trending topics of the day. As an example, the site has three controversial celebrity polls on its site. Funny little angel and devil meme versions of the celebrities are floating around and represent a vote for either liking or disliking the celebrity. Site users can voice their opinion and have some fun doing so.
Although the utility coin has many different properties it is essentially a meme coin so it is important it still has what makes meme coins great: the ability to go viral. One search of Love Hate Inu on Youtube and you will see pages of influencers talking about how great the coin is so that’s a great start. The official Twitter account already has over 35,000 followers too, with all this after just two weeks of a presale it’s clear the coin has stayed true to its roots.
Safety and Security
One of the most appealing aspects of Love Hate Inu is its capacity for learning from the past mistakes of others. Rug pulls and pump-and-dump cryptos are not just limited to meme coins but are a market problem in general. To combat this, 90% of the total allocation of LHINU will be sold during the presale. This ensures only those with a vested interest in the future of the crypto will have power over the future of Love Hate Inu.
They have also put user safety as one of their top priorities. A stake-to-vote system is in place to stop people from spamming the polls or fixing them in any other way. Users must stake LHINU for 30 days before they can vote, this will also ensure their anonymity in the polls and the discussions section so voters will be able to express their opinions without fear of ridicule. The discussion section will also be monitored to ensure everyone is treating each other with respect.
This year should be a big one for the meme coin sector with so many developments on the way. However, a coin like Floki CEO is unlikely to experience this as its project is stuck in the past with little room to grow. However, Love Hate Inu will likely be one of the biggest-selling coins in the industry as a whole so if you wish to get in at a price that will likely be as low as we will ever see, now is the time to buy.