Even though crypto memes have no solid pillars that support them as reliable projects, people continue investing in them. Not only the Reddit group but also Tesla CEO Elon Musk have encouraged many investors with their posts.
A growing number of people are becoming interested in investing in the sector of cryptocurrencies. For example, this year, the price of many tokens rose to levels that nobody had seen before. The most prominent were crypto memes like Dogecoin and Shiba Inu, among others also growing due to fanatism and social acceptance.
The two favorite crypto memes in the community are among the TOP 10 tokens with the highest market capitalization. The first is Dogecoin, which dominates with USD 30 billion, and the second is Shiba Inu with USD 25 billion.
Meme-based cryptocurrencies do not have solid pillars that let investors know they are reliable projects, like those owned by Ethereum or other crypto assets. Although nothing proves they can create utility in the market, people continue investing in them.
Why the Investment in Crypto Memes Could Be Higher Next Year
Many investors have turned to crypto memes like Dogecoin, Shiba Inu, and Floki Inu this year. They may have discovered the true power of the crypto community since those movements started in a Reddit forum.
Later, that group of investors led to a 4,000% increase in the price of GameStop shares. Then, they sought to do the same with the Dogecoin crypto meme, whose value rose by more than 14,000%.
Although the group encouraged many investors, that was not the only factor that took DOGE into the market. It also had highly influential supporters like Tesla, SpaceX, and Neuralink CEO Elon Musk. The passion that Musk has for Dogecoin has led him to purchase a Shiba Inu breed dog.
In a few words, the group promoting Dogecoin and GameStop created a new market for crypto memes in general. That is evident on social media, where retail investors show their enthusiasm for meme-based cryptocurrencies. Many people wonder whether memes will be the cryptocurrencies of 2022.
The Rate of Adoption On Social Media Continue Rising
Next year will be excellent for cryptocurrencies in general since the volume of retail investors and the rate of adoption and profit could continue growing. There are already communities on Reddit, Facebook, and even Twitter, where they discuss those issues.
In short, there will be a higher investment in crypto memes in the coming months and years since the platforms encouraging social investment are growing. They share the sentiment and experiences of retailers and possibly favor the investment in those assets next year.
The relevance of cryptocurrencies has become increasingly evident globally, of which retail investors are aware. Among those assets, they can find crypto memes like DOGE and SHIB, which they can buy more cheaply than Bitcoin or Ether. That way, they would be paving their way into investing in the crypto market.
By Alexander Salazar
