Meme coins have been making waves in the cryptocurrency world, and it seems that April and May 2023 are the months for these coins. Despite being a parody coin ecosystem, meme coins have seen exponential growth and have been one of the highest profit grosses in an ecosystem impacted by macro-economic events.
One of the meme coins turning heads in the crypto space is Saudi Pepe, the Saudi-themed project of the popular Pepe-the-frog project. Saudi Pepe has grossed over 1,400% in one day in price performance and has recently hit over $24 million with its market cap swelling as well. Like its older counterpart, Saudi Pepe is becoming something of an overnight success with a growing number of investors buying into it.
A new wave of meme projects is sweeping in the embodiment of AIDoge and SPONGE. SPONGE is an adaptation of the popular US animation series, Spongebob Square Pants, and is a meme project designed to let users have fun. It is entirely community-driven and offers zero taxes for buy and sell orders, and launches without any presale raises.
At its heights, its $SPONGE token surged over 1,800% in a single trading day, pointing to the project’s eventual fame. This led it to make centralized exchange listings on Toobit, CoinW, and LBank. The project is one to watch out for, given that it is attached to a popular children’s animation series that has grossed over 50 million monthly viewers and $50 billion in merchandise sales.
AIDoge is another meme project turning heads, and it is the first-of-its-kind AI meme generator that uses the power mechanics of AI to create contextually-relevant memes in real-time. It does this by feeding the AI tool with millions of datasets related to memes and other social media communication mechanisms.
In return for creating the best memes using the AI meme generator, artists are rewarded with the $AI token that powers the protocol. Also, other users get to vote on memes created by artists on the public wall feed in the blockchain project. This makes it a community-focused effort instead of a centrally-controlled effort.
Meme coins have become increasingly popular due to their relatedness and the success of coins like DOGE and SB. While some meme coins lack real-world utility, Saudi Pepe, SPONGE, and AIDoge have found ways to offer utility as non-fungible tokens (NFTs), play-to-earn (P2E) gaming, artificial intelligence (AI) services, and liquid staking. The immense appeal of these meme coins has led to centralized exchange listings and significant presale raises, pointing to their potential for success in the crypto world.