- These meme coins have a strong chance of providing healthy returns in the second half of 2022.
- Dogecoin (DOGE-USD): Has long been dogged by claims that it lacks utility. There is a case building that change is underway.
- MonaCoin (MONA-USD): Should rise because it benefits its community, not its makers.
- Samoyedcoin (SAMO-USD): Benefits from strong tokenomics and user alignment with one of the strongest crypto projects going.
- Shiba Inu (SHIB-USD): SHIB metaverse will ensure the project’s relevancy moving forward.
- Banano (BAN-USD): Is obscure, but it has also proven to be resilient.
- Dogs of Elon (DOE-USD): Will gain attention based on marketing, it’s up to its DAO to control the rest.
- Hoge Finance (HOGE-USD): Is compelling because it has something most meme coins lack.
Despite all the current and former risks, investing in cryptocurrency will remain a massive opportunity throughout 2022 and beyond. Sifting your way through these investments is difficult enough, and the world of meme coins adds another layer of complexity on top of that.
Meme coins are the funny and friendly side of crypto. Understanding these digital coins and tokens is often difficult, and adding jokes into the equation can make them seem like they aren’t serious investments. But that isn’t always the case.
There’s a good chance market cyclicality will bring certain meme coins higher in the second half of 2022. With that said, let’s jump into those which look to be very strong going into the second half of the year.
|DOE-USD||Dogs of Elon||$0.02334|
Dogecoin (DOGE-USD) remains the ultimate meme coin. It’s no secret that its founders created as a joke, and that has led many analysts to conclude it will always remain a joke. I have long been among the latter group.
The same argument is always persisted: Dogecoin lacks utility. The premise is simple, and investors are going to continue to treat it as a joke until it builds respectable use cases.
As I reported a few weeks ago, Dogecoin is beginning to build out real utility in a sector that has potential: the high-fashion industry. Kering’s (OTCMKTS:PPRUY) Gucci will soon accept Dogecoin as payment in its retail settings, and this is powerful news for the coin. The argument that I made then was that if DOGE is successful in this partnership, it will have a powerful catalyst on its side.
First of all, Dogecoin is simply doing what it must. In partnering with Gucci, it is setting up real-world use cases for its coin. If crypto is to truly chip away at the market that fiat currency holds, such use cases are the fastest way forward.
Second of all, Dogecoin has a great market opportunity in the fashion industry, which is very progressive by nature. The partnership could very well mean other fashion brands will follow suit and soon begin to accept Dogecoin in their retail outlets.
MonaCoin isn’t perhaps the best-known meme coin. Nevertheless, investors should be aware of it, as it has plenty of potential to move upward in the second half of 2022. This particular cryptocurrency is based on the popular Japanese ACSII art cat character called Mona.
One of the reasons investors are so wary of cryptocurrency is they believe it is the owners who ultimately benefit rather than the participants. This is where MonaCoin starts to make a lot of sense.
MonaCoin was developed by MonaCoinproject, but that entity does not control the crypto. Instead, it is the community of users who engage with it via client applications on their computers that control MonaCoin.
Another reason to consider MonaCoin is that it blew up several years ago, and not just in the most recent run-up of cryptocurrency. Technically, it reached $4 levels recently and has since subsided. But it gained traction long ago, spiking as high as $17 back in December 2017. That track record indicates it could see considerable gains again.
As you may have guessed, Samoyedcoin (SAMO-USD) is yet another dog-inspired cryptocurrency. There are a couple of reasons to consider investing in it now. In my opinion, the strongest is that the project has aligned itself with Solana (SOL-USD).
The company’s website states that “at its core, SAMO is an emerging digital asset that backs a community concentrated on onboarding Solana users,” among other things. Solana has decreased along with the broader market in the most recent downturn; however, it is certain to remain a prominent feature of the cryptocurrency landscape moving forward. That bodes well for Samoyedcoin.
Further, SAMO is inherently focused on creating scarcity for its coin. It has already undertaken three burns since its inception. It should be noted that oversupply is one of the focal points of the so-called “tokenomics” of various cryptos.
Those projects that simply print massive amounts of their cryptocurrency are seeing investors shy away. Those that limit the supply, on the other hand, are more appealing. Those two factors combine to give Samoyedcoin strong prospects in the second half of this year.
Shiba Inu (SHIB)
Any resurgence in meme coins is almost certainly going to include Shiba Inu (SHIB-USD). Despite my past hesitancy to recommend it and the reluctance of others, it’s plain to see Shiba Inu means something to meme coin investors. In other words, ignore it at your own peril.
Further, Shiba Inu has another catalyst in its favor: the metaverse. The token can now officially be used to purchase land in the SHIB metaverse. That means owners are now exposed to possibilities that didn’t exist before, and that’s an exciting prospect for the crypto market.
Similar to those other projects, the SHIB metaverse offers digital parcels of land from which holders can extract passive income. So, when crypto rebounds later this year, Shiba Inu will garner a lot of excitement.
Banano (BAN-USD) is a relatively small and obscure meme coin. At the time of writing, it boasted a 24-hour trading volume of $175,000. That’s very small. Furthermore, Banano doesn’t receive a lot of press.
The positive news here is that the project seems to be very resilient. It has rebounded following the crypto market debacle on May 11 and May 12.
The most important thing to understand about Banano is that it is powered by something called a directed acyclic graph (DAG). DAGs do not rely on blockchain technology. Instead, they use graphs consisting of vertices and edges.
The project is inspired by bananas and heavily features related memes. These are supposed to serve as an entertaining way to encourage community sharing and inform users about the technical aspects of the project.
Dogs of Elon (DOE)
Dogs of Elon (DOE-USD) is all about non-fungible tokens (NFTs) — so much so, in fact, that it partially markets itself as a moonshot for the NFT trader. That implies the project’s creators aren’t shy about its inherent volatility. NFTs have proven risky and haven’t provided strong returns thus far, but that can change.
DOE itself is the governance token for the project’s decentralized autonomous organization (DAO) which utilizes completely customizable smart contracts.
The DAO is working on governance issues, including decision-making mechanisms, budget, donations and rewards. The quicker that is built, the better the chance DOE gains momentum in the latter half of this year. The association with Elon Musk and dog-related memes ensures that Dogs of Elon will receive attention — it’s up to the team to make it into something that lasts.
Hoge Finance (HOGE)
There are a few compelling reasons to consider Hoge Finance (HOGE-USD) in the second half of 2022. First of all, it possesses the strong tokenomics that a deflationary supply confers.
The other reason that jumps out is that the project completed the Certik audit. What that means is Hoge Finance has undergone the verification audit that the company offers for blockchain protocols, wallets, decentralized apps (dApps) and smart contracts.
The project is based on the ERC-20 coin and has a capped deflationary supply. Another reason to consider investing is that no tokens were allocated to the team when the project was launched. That implies the risk of a pump and dump situation is lower.
On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.