2022 Has a Rough Start – Will Meme Coins Be Back on the Radar?

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Nowadays, we see memes all over the internet. Intuitively, it may seem that memes are quite a recent phenomenon, but not many know that the term “meme” dates back to 1976. It roughly translates to something that is imitated – which is reflected in their popularity as memes are widely shared in the digital environment. 

Nowadays, we have seen memes evolving from a pure form of entertainment into a source of income and speculation for some – the so-called meme coins. What does this year hold for meme lovers?

The Paradox of Memes

Memes enjoyed so much popularity that it is no wonder that brands and the financial environment also wanted to be a part of the meme world. In fact, millennials and Generation Z are the biggest meme lovers, so it was a great way for brands to engage with their target audience online. 

Initially, memes had nothing to do with marketing and money. Many people spend time on social media for entertainment purposes, and, truth be told, no one enjoys branded and highly promotional content anymore. 

Yet, the popularity of memes and the brands’ ability to appeal to their audiences are changing all of this. Meme coins are one of the main examples nowadays – lots of people invested their hard-earned cash in iconic meme coins like Shiba Inu in 2021. This may come across as a paradox since more and more people became frugal due to the pandemic. However, this method is not the only way to attract an audience. For instance, PromocodiusF experts, a promo codes and free coupons website, state that many brands around the world, such as Glo in Ukraine, use promotional codes to appeal to their audience, and that works fine. 

Thus, what changes people’s perspective of the memes, and, most importantly, will meme lovers be able to enjoy some new content in 2022? Many voices claim that the popularity of meme coins, for instance, has reached its end, but this may not be true. 

Meme Coins and the Community

The growing popularity of meme coins has perhaps come as a surprise for all meme lovers. Investments and cryptocurrency are part of the finance world and are used to store wealth. On the other hand, meme coins have no real value or purpose – they simply exist because of the supporting community of meme lovers behind them. 
Meme coins have appeared as a joke with no real intention behind their creation. Surprisingly, the community liked that and started to pump their value by buying them. For instance, Dogecoin boomed in the first days – it started with a 400% increase, followed by another 4,000% shortly after that. 

Another popular meme coin last year was Shiba Inu. It was another meme coin driven by people’s FOMO – or known as “the fear of missing out.” The meme coins’ popularity was massively boosted by the FOMO phenomenon, where people started to buy the meme coin just because they didn’t want to miss the possible highs. 

Meme Coins in 2022

With Dogecoin and Shiba Inu being the stars in 2021, will there be any news for meme lovers in 2022?

Fortunately, it seems that there are many other meme coins likely to make the headlines this year. For instance, Safemoon reached a record high in 2021, but it crashed after that. Some may claim that Safemoon is set to boom this year, as its supporters seem very determined to keep the meme coin alive. 

Next, Dogs of Elon is also at the center of the meme coin community. It is an NFT that features K-9 and Elon Musk, and it registered up to 800% growth. 

Also linked to Elon Musk, Dogelon Mars is supposed to be the capital of the planet. This “interplanetary” currency combined two favorite icons – the adorable doge meme with Elon Musk and his desire to explore the space. 

Summary

Based on sarcasm and jokes, meme coins are no longer a simple source of entertainment. Crypto investors sent the whole market into a frenzy with impulsive, FOMO buying behaviors, pushing the meme coins to new highs. This is, of course, to the delight of the meme-loving community that seems to have a never-ending source of inspiration for creating new tokens based on trending memes. 

From a joke to a serious investment choice, memes are now leading many social media conversations supported by a community set to prove financial experts wrong. Watch out for the next popular meme coins by having a look at the pop culture, but make sure you exercise caution if you decide to take it to the next level and invest in such assets.