Meme coins have been hounding the spotlight in the last few months. More and more crypto enthusiasts are putting money into them. One of the reasons can be showing support to a culture, an underlying theme, or a movement. Yet that is not to say meme coins, which are typically born out of jokes, are useless in other aspects. Their growing familiarity with the mass public and popularity among investors, can make them incredible assets worth holding.
Monacoin (MONA), for instance, calls itself as Japan’s first cryptocurrency. This cat meme cryptocurrency was first conceived from a Japan-based bulletin board called 2-Channel, by a user who goes by the handle of ‘Mr Watanabe’. It was developed as an open-source, peer-to-peer payment network, thrust into the limelight when it was featured on WBS TV Network Tokyo, which reported a man purchasing a plot of land in Nagano with MONA.
MONA is well-loved by the crypto community, ranked the 6th most traded meme coins by market capacity, according to CoinMarketCap. MONA’s price has gained from $0.096 USD since its launch in March 2014 to date $1.58 USD, a 1545.83% increase in seven years, and it is only one of those meme coins that have grown exponentially.
Garlicoin (GRLC) is also one of the meme coins that have been flying under the radar since 2018. The meme crypto focuses on three main features: cheap and fast transactions, a low barrier to entry, and the growth of the Garlicoin community.
Particularly in this year, after launching a free faucet, making Wrapped Garlicoin available on Binance Smart Chain and releasing other significant updates, GRLC is resurfacing. The Garlicoin community with over 101K members is getting more active, and the garlic-related memes are flowing. With all that activity, GRLC is up more 1200 times more than in March 2020, and investors have said the growth is only beginning.
Another rising star for meme coin investors can be the “HUH Token (HUH)”. It is said to be officially launched in December but has been gathering an impressive amount of attention already. The creators announced that HUH pre-launch sales have been overwhelming and caused some issues in its payment systems.
HUH Token proclaims itself as a ‘Utimeme’ cryptocurrency – a combination of meme and utility components – and stresses the priority of a community development. It aims at providing static and stable rewards for the community, “static” and “stable” are rarely the keywords of a meme coin in the first place. “The longer you hold HUH, the more rewarding it is” is how they describe it on their website, “as a result, the risk of swing trades and roller coaster rides are pretty much eliminated”.
A factor that contributes to the fame of HUH Token might be its referral system. To encourage the expansion of the community, HUH is offering a rewards scheme – a person referring another one to invest in HUH will receive a 10% redistribution of the referee invested. This might be a strong incentive for the community to stay active and replicate the Garlicoin scenario.
Story by Micheal Jason
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