Best Meme Coins to Buy – Top 5 Meme Coins 2022
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Over the past year, the cryptocurrency market has grown exponentially, from around $1 trillion to $1.5 trillion. Although a 50% gain is impressive, we also need to consider that the market is currently in a dip. The total cryptocurrency market cap peaked at just under $3 trillion in November 2021, giving us a glimpse of what’s still to come.
One sub-sector that outpaced the rest of the market by a wide margin is meme coins. Led by dog-based token Dogecoin, these cryptocurrencies gained an almost cult following, pumping up the price massively.
Throughout this guide, we’ll be breaking down the pros and cons of some of the best meme coins to buy right now along with providing our readers with a detailed guide covering exactly how to buy meme coins in 2022.
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#1 Broker to Buy Crypto – eToro
Best Meme Coins to Buy – Top 5 Meme Coins to Invest in 2022
While every meme coin has its own merits, they’re not all created equally. So, to help our readers decide on which meme coin has the most potential, we’ve done the research for you and created this guide!
Below you can find a brief overview of the best meme coins to buy 2022 and further down the page, you’ll be able to read our full-length reviews of each of these intriguing tokens.
To make things even simpler, all of these cryptocurrencies can be found on commission-free exchange, eToro. Meaning, you can get even more bang for your buck when increasing your holdings:
- Dogecoin (DOGE) – The Original Meme Coin
- Shiba INU (SHIB) – Fastest Growing Meme Coin
- Decentraland (MANA) – Metaverse Meme Coin
- Basic Attention Token (BAT) – Get Paid to Look at Memes
- XRP (XRP) – Strongest Crypto Meme Community
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Best Meme Coins to Buy – Full Reviews
When you’re researching various cryptocurrencies it can be easy to get caught up in the web of biased opinions and false information that unfortunately plagues the industry. This can make deciding which meme coin to buy a confusing and perilous task.
So, to ensure you have all the information needed to make an informed decision, we’ve done the hard part for you and filtered through all the noise in order to bring you a series of unbiased reviews on the best meme coins money can buy. So, without further ado, let’s get stuck in.
1. Dogecoin (DOGE) – The Original Meme Coin
Arguably the king of all meme coins, Dogecoin undeniably paved the way for the likes of Shiba, and every other dog coin you might’ve seen promoted by various influencers. Dogecoin is a favorite of tech mogul and the world’s richest man, Elon Musk. So much so that he has given rise to other meme coins like DogeElon Mars (ELON).
While there are plenty of these meme coins out there, they didn’t fit the criteria for this list due to being overly speculative, easy to manipulate, and having extremely limited use cases. Currently, Dogecoin is one of the most popular cryptocurrencies in the world. It has a market cap of $18 billion, making it the 8th largest cryptocurrency on the planet (excluding stable coins).
Despite originally being launched way back in 2013, it wasn’t until Elon Musk began speaking about Dogecoin that it rose to prominence and increased in value. At the start of 2021, the price of Dogecoin was just $0.01 but once Musk started to tweet about the coin it quickly rose in value peaking at almost $0.70 in July.
Although it may seem as though these prices are far-fetched based on the current DOGE price ($0.13) and the state of the wider financial markets, this could be an excellent time to buy meme coins before prices start to increase substantially again. After all, if you’d buy at $0.40-$0.70, why not $0.13? Dogecoin was originally marketed as a ‘fun’ version of Bitcoin.
While that remains true in some sense, the coin’s newfound audience has allowed it to be used for buying and selling various goods and services – much like Bitcoin. Most notably, Elon Musk started to accept Dogecoin for buying Tesla merch, bolstering the price by around 20% during a declining market.
It’s not a stretch for Dogecoin to be dubbed the father of all meme coins. Its success paved the way for coins like Shiba and DogeElon to gain an almost cult-like following. With that said, most of this success is based on speculation, people hoping to 20x their investment in a few months. While this isn’t impossible, it’s quite unlikely, unless you’re able to get involved with a project before everyone hears about it.
Out of all the dog-coins Dogecoin has the most promise (hence its place on this list), followed closely by Shiba. While some may dismiss DOGE as a joke, it has the potential to disrupt the industry in a big way. Eesapilly, with Musk himself joining the project as an advisor, hoping to transform the meme coin into a greener alternative to Bitcoin.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
2. Shiba Inu (SHIB) – Fastest Growing Meme Coin
Shiba Inu was born of the coattails of Dogecoin. Its logo/mascot is based on the same breed of dog as Dogecoin ( a Shiba Inu – who would’ve guessed). Shiba Inu was launched on the Ethereum blockchain in mid-2020 as somewhat of a joke.
However, things quickly spiraled out of control and this meme coin quickly skyrocketed in popularity attaining a $41 billion market cap at its peak. As of January 2022, Shiba Inu is the 11th largest cryptocurrency by market cap (excluding stable coins). When two of the top 15 cryptocurrencies are dog-themed coins, can they still be dismissed as a joke?
Further cementing its place as the number 2nd best meme coin on the planet, Shiba Inu was one of the fastest-growing cryptocurrencies in 2021. If you purchased $1000 worth of SHIB in January 2021, it would be worth a staggering $2,100,000 today.
DOGE created meme coins, Shiba created millionaires. Shiba was created to be a “DOGE killer”, and while its transactional uses have increased substantially (partly due to its low emissions) the main draw to SHIB is the ecosystem it’s created for itself. Along with SHIB, there is also BONE and LEASH, all of which have uses on the decentralized ShibaSwap exchange.
Early investors in Shiba Inu have done incredibly well. And as the ecosystem grows alongside the cryptocurrency market, there’s certainly still room for growth. The Shiba ecosystem is what really sets this coin apart from the various other meme coins.
A large user base helps to bolster the price and further development, keeping Shiba Inu in a state of perpetual improvement. Overall, Shiba has the potential to overtake its brother, Dogecoin, and join the list of the top 10 largest cryptocurrencies, meaning it still has plenty of room for growth.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
3. Decentraland (MANA) – Metaverse Meme Coin
Decentraland and the MANA token have done very well over the past year, helped massively by Zuckerberg’s metaverse announcement. Originally launching back in 2017, Decentraland has been around for a while. Decentraland was selling for just $20. Those same parcels are worth thousands today.
While MANA isn’t a meme coin in the same sense that DOGE and SHIB are, its status as a meme coin can be attributed more so to the community.
Because Decentraland is heavily reliant on its community creating things within their metaverse, it’s these community members that cement Decentraland as a meme coin. If you go onto the platform the effects of internet/meme culture are apparent, especially if you go to any community events.
Despite a slow start, now that technology has caught up and the metaverse has become more ‘real’, platforms like Decentraland are starting to take off. Decentraland has grown to become the 28th largest cryptocurrency (excluding stable coins), nine places above closest competitor Sandbox.
The price of Decentraland (MANA) has risen from just $0.17 to $2 recently, marking an increase of almost 1000%. With the metaverse constantly improving and large companies purchasing land for virtual offices and events, it seems like Decentraland’s journey may only just be beginning.
If you’re looking for a Metaverse project, Decentaland is likely your best option. It’s got plenty of room for growth and a massive, loyal fanbase. If they can continue to gain investment from large companies then there’s no telling where Decentraland may go. With the potential for Metaverse to grow exponentially, Metaverse stocks are one of those five best investments you can make in 2022.
If you want to buy this meme coin, it’s advisable to purchase the MANA token on eToro rather than getting land in Decentraland as the entry barrier is lower and there’s slightly less risk involved.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
4. Basic Attention Token (BAT) – Make Memes & Get Paid
Basic Attention Token was created as a way to shake up the advertising industry. Rather than serving intrusive ads derived from a host of trackers, BAT enables creators to monetize their work in a more friendly and privacy-focused manner. This allows users to receive ads that are relevant to them but not based on private aspects like search history.
The Brave browser is at the center of the BAT ecosystem. It’s far more lightweight, privacy-focused, and innovative than a browser like Chrome. The Brave browser comes equipped with an ad/tracker blocker. This prevents obscene ads and only promotes those that are Brave/BAT approved. On top of this, creators can enable BAT to serve ads on their website, with the creator being rewarded directly in BAT. With that said, you don’t need a website to earn a BAT. If you frequently share memes on platforms like Reddit, you can accept tips on your posts, allowing other Brave/BAT users to reward you for creating content. This enables those most active on the web to actually be rewarded for their contributions.
The BAT token and Brave browser are set to shake up how the world monetized content. It allows users to contribute to people whose content they enjoy and find valuable, without their privacy getting breached. It’s also an excellent way for content creators and meme-makers to monetize the content they otherwise wouldn’t have the ability to. Rewarding content creators fairly is a great way to ensure everything we love about the web stays the same.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
5. XRP (XRP) – Strongest Crypto Meme Community
XRP, created by Ripple Labs, is a cryptocurrency that aims to facilitate fast, environmentally, cross border payments. This could be used to replace services like Western Union, which often charge exorbitant fees to send funds. While not a ‘meme coin’ in the same sense as SHIB or DOGE, XRP’s status as a meme coin comes from its community. No cryptocurrency has a stronger community than XRP, and at the center of it all, is a plethora of memes. If you head over to XRP Twitter or Reddit, then you’ll immediately be bombarded with this kind of content, helping to keep XRP relevant.
The price of XRP peaked at $3.37 in 2017 and is currently $0.58. A myriad of factors has kept the price low. Most recently, a lawsuit from the SEC and the financial market crash. With that said, it could be an excellent time to stock up on XRP while the price remains low. It partnered with over 200 banks and financial institutions, including, Santander, the Bank of America, and MoneyGram. Additionally, it’s part of the digital Pound foundation, helping to bring the UK’s currency into the crypto world. With transactions costing a fraction of a cent, a 4 second settlement time, and a TPS of 1500, the tech behind this crypto is certainly impressive.
XRP is one of the best meme coins to buy for anyone looking for a more serious alternative. The technology is solid, it’s got tons of big-name partnerships, and with lawsuits holding the price down, there’s plenty of upside potential.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
How We Determine the Best Meme Coins to Buy
Wondering how we selected the best meme coins to buy right now? We based our decisions on several metrics. This tends to be the best option as it shows us a more accurate overview of the coin’s potential. It’s important to consider the points we’ll be discussing alongside other macro factors as they can have a massive impact on performance.
Performance
Despite the fact that history cannot be trusted to repeat itself, it can help paint a picture of the potential direction a coin will go. For example, we can look at the YTD (year to date) price to gain an understanding of which way the coin is trending.
Additionally, if a coin has a 40% YTD price increase, regardless of what’s happening in the short term, we can see that it’s in a macro uptrend on the macro scale. Additionally, if the wider market is in decline, we can compare how two similar coins are performing to get an idea of relative strength and demand.
Market Cap
Although market cap cannot be solely used to determine potential price or whether a coin is worth buying, it does offer us a glimpse into what might happen if certain conditions are met.
Say we have coin-a, it trades for $1 and has a $100 million market cap. It has a direct competitor, coin-b, which trades for $5 and has a $500 million market cap. As long as the technology and tokennomics are similar, we can extrapolate that if coin-a has the potential to hit $5 it can rise in popularity and take away market share from coin-b. This technique can be used to make estimates more realistic.
For example, if somebody were to say they believed coin-a would go to $10 this year, you would know it’s unlikely because that would mean it would have double the market cap of its more popular competitor. Of course, this is far from an exact science, however, it can help your estimates become more realistic.
Additionally, it’s important to bear in mind that smaller cap coins are far easier to manipulate as it requires less capital to move the price. If a coin has a market cap of $100 million and a whale opens a $10 million short, it would drive the price down drastically as so much money (relative to market cap) is betting on it falling. While these numbers may sound unattainable, it would only take $500,000 with a 20x margin to achieve a $10 million position.
Technology
As an inherently tech-based product, the success of every cryptocurrency is linked to the technology that drives it. If crypto-b solves the same problem as crypto-a but faster and more efficiently, crypto-a becomes outdated and irrelevant. This tends to be overlooked by beginners as it can be difficult to understand or know what to look out for.
So to help our readers better understand our methodology here, we’ve broken down a few key factors to look out for:
TPS – The number of transactions per second (TPS) a network can handle offers a glimpse into how it would perform if it continued growing. Just look at Ethereum, it can only manage 20 TPS, and as a result transaction fees are incredibly high. However, a coin like Tron can candle a far greater TPS (2000) and as a result, has lower fees. From this, we can tell that if both cryptocurrencies had the same amount of users Tron would handle the traffic cheaper and faster.
Environment – The environmental impact of crypto technology has become much more of a talking point recently. Particularly in China where they use ‘dirty energy’. This led to many articles getting published highlighting how much electricity a transaction takes up. While many of these statistics were wildly exaggerated, it’s still an important factor. After all, we want to move forwards in terms of efficiency rather than backward.
Transaction speed – The amount of time it takes for a transaction to settle can massively affect how usable a currency is. When you consider this factor, it’s important to consider the aims of the coin. For example, if a coin’s goal was to facilitate everyday transactions, it would need to be fast. Imagine if you had to wait 10 minutes for a transaction to go through after buying something in the store, not ideal right?
Use Case
The final factor we’ve based our picks on is usability. What makes this crypto unique? Does it solve a real-world problem? Both are extremely valid questions, often with no easy answer. While cryptocurrency is undeniably speculative, we’ve tried to only include coins that have actual use cases.
How to Buy the Best Meme Coins – A Detailed Guide for 2022
Everyone wants to find that one gem that offers insane returns, myself included. However, before you’re able to do that, you’ll first need to learn how to buy meme coins. With all the contradictory information out there, this can be a surprisingly difficult task.
So, to make things as easy as possible for our readers, we’ve broken down the best way to buy meme coins using world-renowned broker eToro.
Step 1: Open an Account with eToro
The first thing you’ll have to do is create an account with eToro. We always recommend buying crypto with eToro as it has excellent security and offers commission-free trading, meaning no nasty surprises. In your browser’s search bar, type eToro.com, click “Join Now” and fill in the required fields. Once you’ve done this, you’re ready to move on to the next step. Additionally, eToro has a wide range of crypto stocks up for grabs to help diversify your portfolio.
Step 2: Verify Account
Before you can buy anything on eToro. You’ll need to verify your account. This is because eToro is a regulated platform and has to comply with anti-money laundering laws outlined by authoritative bodies like the SEC. In order to verify your account, you’ll need to have a photo ID (passport, driving license) and proof of address (utility bill, bank statement). eToro uses SSL encryption to obscure sensitive information, so there’s no need to worry about the safety of your data.
Step 3: Deposit Funds
Once your eToro account has been verified, you’ll need to deposit some funds. Doing so is straightforward, just click on the button marked “Deposit Funds”, enter the amount you want to invest, and press “Deposit”. The funds will arrive in your account shortly (although first-time transactions can take a bit longer). The minimum deposit is $25 and eToro supports credit/debit cards, bank transfers, and e-wallet (PayPal, Skrill).
67% of retail investor accounts lose money when trading CFDs with this provider.
Step 4: Buy Meme Coins
After the funds have landed in your eToro account, you’re ready to buy a meme coin. First, type the name of the coin you want to buy in the eToro search bar, press “Trade”, enter the number of coins you want to buy, and press “Open Trade”. You can monitor and control your investment from the portfolio section of your eToro account.
Best Meme Coins to Buy – Conclusion
Meme coins can be extremely profitable if you make sure to do your due diligence, however, they are on the more dangerous side of an already risky asset class. With that said, as long as you respect risk management and time your purchase well, the upside potential is certainly worth it.
Half of the battle when buying any type of cryptocurrency is selecting the right exchange. We recommend eToro as they have an excellent track record, phenomenal security, and even offer commission-free trading.
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