The recent rally has seen substantial increases in the prices of these memecoins, resulting in favorable returns for many investors.
Memecoins have recently seen a significant increase in popularity, mainly due to resistance from Dogecoin (DOGE) and Shiba Inu (SHIB) in their quest to compete with the major cryptocurrencies on the market.
Amidst such an ongoing trend, DigiToads (TOADS) has emerged as a strong contender. Experts have been paying attention to its growth potential, with predictions suggesting it could even rival the success of Shiba Inu. Based on its recent achievements, analysts forecast that DigiToads could surpass Dogecoin’s historical growth of 11,200%.
DigiToads (TOADS) & Dogecoin (DOGE)
DigiToads is a meme coin with many uses, having sold over 356 million tokens so far, raising over $5.8 million in sales and earning early investors a return of over 370%. DigiToads gained popularity for its valuable collection of NFTs featuring unique frog digital characters, which display distinct personalities and can be created on the DigiToads platform.
DigiToads is claimed to place a strong emphasis on community ownership, allowing participants to actively shape the future of the project. In addition, the project’s commitment to environmental sustainability resonates with investors looking for projects that have a positive impact.
The analysis suggests that by including TOADS on exchanges and introducing innovative features to the platform, multi-chain adoption would increase its value. Analysts predict that if DigiToads continues on this trajectory, it has the potential to reach record prices that outperform both Dogecoin and Shiba Inu.
DOGE has seen a significant gain of 11,200% in its history, even though it has a supply of 100 billion tokens and has no clear use case. DOGE’s resilience and high market capitalization kept it relevant, even as analysts questioned its viability.
The future of Dogecoin is uncertain and price predictions are hard to make. Some analysts believe it is a bubble about to burst, with no intrinsic value to justify its price. Others believe that it has the potential to reach new heights if it continues to gain mainstream acceptance.
The cryptocurrency currently sits ninth on CoinGecko’s list of top cryptocurrencies, with a market capitalization of around $10 billion as of May 2023.
Shiba Inu (SHIB)
Shiba Inu is a parody of the well-known cryptocurrency Dogecoin that was developed using memes as inspiration.
The large supply of SHIB tokens and their deflationary mechanism do not guarantee long-term value or success. Like all cryptocurrencies, the SHIB price is subject to market forces and could be affected by various factors, including regulatory changes, technological developments, and investor sentiment.
Shiba Inu’s price history has been volatile. In October 2021, SHIB hit an all-time high of over $0.00008845 per coin, fueled in part by endorsements from high-profile figures like Elon Musk. However, its price has since dropped significantly, and as of May 2023, it is trading at around $0.00000889 per coin.
In short, cryptocurrency adoption is increasing for everyday transactions. As the use of cryptocurrencies becomes more widespread, there may be an increased demand for meme coins.
However, meme coins remain largely speculative investments and are not widely accepted as payment methods. Therefore, investors should be cautious and do their research before investing in meme coins.
By Audy Castaneda
