Meme Coins Are the Best Cryptos to Buy for 500x Gains, Says Crypto Analyst – Here’s the Latest
Early Bitcoin adopters have recorded phenomenal gains from the top crypto asset. Since its debut in 2009, Bitcoin has seen a 9 million percent increase from its low price of $0.10, following its ascent to $69,000 in 2021.
However, the foremost cryptocurrency no longer posts these insane profit levels.
Meme coins seem to be the only outlet where investors can get 500x from their initial investment. This is according to popular crypto influencer Altcoin Sherpa.
Joke cryptocurrencies began with the Dogecoin project.
Built off a hardfork of the Bitcoin network, Dogecoin was created to mock the upsurge of altcoins following Bitcoin's widespread interest.
Despite not being intended to hold a significant place in the crypto space, Dogecoin has enabled an entirely new crypto sub-sector.
Its success lies in the simplicity of its approach and the relatable Shiba Inu mascot it employs. According to top crypto influencer Altcoin Sherpa, this has resulted in the meteoric rise and acceptance of meme coins.
Meme coins, according to Sherpa, are similar to original non-fungible tokens (NFTs) in that they operate on a simple concept that people can relate to.
As a result of the widespread acceptance of meme coins, many have posted 500x gains in a trading environment, although a significant portion of them lack value or turn out to be rug pulls.
Providing more context, Altcoin Sherpa, who has nearly 200,000 followers, stated that only meme coins could provide 500x gains – a feat that even Bitcoin cannot match.
He added that meme coins could achieve these gains because they are not as difficult to use or understand as decentralized finance (DeFi) protocols.
However, he pointed out that most of these meme coins are more prone to be frauds and
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