What Are Meme Coins All About?
Meme coins are essentially the playful cousins of more established cryptocurrencies like Bitcoin and Ethereum. They often start as jokes or memes, with no real purpose other than to entertain, yet some end up gaining significant traction. These coins usually have strong and vibrant communities that not only invest but also generate memes, buzz, and hype on social media platforms.
The most well-known meme coin, Dogecoin, began as a joke based on a popular meme of a Shiba Inu dog. However, with support from a certain meme-obsessed billionaire with a passion for space travel, Dogecoin quickly garnered attention, gaining both popularity and value.
Why Have Meme Coins Grown So Much?
Every market cycle experiences its ups and downs, with bull markets attracting new players. For younger investors, this often happens via crypto communities on platforms like Twitter. And if you’re well-versed in meme culture and enjoy “owning the Boomers,” what better way to thumb your nose at the traditional financial world than by investing in something that seems ridiculous, lacks intrinsic value, but has the potential to make you a lot of money? Enter: the meme coin market!
Of course, Bitcoin (BTC) remains the leader of the pack. When Bitcoin rises, the rest of the market tends to follow suit. This is partly why meme coins have seen such growth, especially as Bitcoin recently surpassed its all-time high. As Bitcoin continues its ascent, it drags along altcoins, including meme coins, as HODLers take profits and funnel them into these alternatives.
When Overvalued: Many Choose Crypto Casinos
When a coin becomes overvalued, many investors opt to HODL – a term referring to holding crypto for long periods, waiting for bigger gains. This is known as having “diamond hands” – a phrase born from meme culture. The opposite of this is “paper hands,” referring to investors who sell at the first sign of trouble. Meme coins are not for those types!
Many of these investors typically hold Bitcoin and want to see the price rise further as institutional investors jump in. However, meme coin enthusiasts often take a different approach, seeking out ways to use their coins. This has led to more players using their meme coins in crypto casinos. Unfortunately, while the larger meme coins are well-supported, newer and faster-rising coins struggle to gain acceptance. Based on data from our database of 350+ casinos, here are the most popular meme coins used on crypto casinos, starting with the biggest in terms of market capitalization.
Dogecoin (+93% in the Last 30 Days)
Without a doubt, the most widely accepted meme coin at crypto casinos is Dogecoin (DOGE). It ranks as one of the top 10 cryptocurrencies globally and is by far the largest meme coin. Currently, 239 casinos accept DOGE deposits, based on the 430 casino reviews we’ve done. Not bad, right?
Dogecoin is a favorite of Elon Musk, who has even hinted at integrating the coin into his X platform as part of his broader plans for the site. Perhaps DOGE benefits from the “Bitcoin effect,” being the first-ever meme coin and setting the stage for others to follow. rastî Fun: Dogecoin recently made it into the top 10 cryptocurrencies by market cap for the first time this week. How long it will remain there is anyone’s guess.
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Shiba Inu (+252% in the Last 30 Days)
This coin has taken many by surprise, with an impressive 252% increase over the past month. Shiba Inu (SHIB) has exceeded expectations since its launch, far outperforming the hopes of its core supporters. Recently, the Shiba Inu community has grown significantly, with the introduction of its own blockchain, ShibaSwap, and supporting tokens like BONE and LEASH.
In terms of acceptance, Shiba Inu still lags behind Dogecoin, with only 39 crypto casinos supporting SHIB deposits compared to DOGE’s 230+. However, given its recent explosive growth, it wouldn’t be surprising if more casinos adopt it in the near future. But if the price of Shiba Inu drops sharply and players shift toward major coins, the momentum might slow.
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Bonk (+183% in the Last 30 Days)
Bonk, a meme coin on the Solana network, has been gaining attention and has reached the top 50 by market cap after a major dip on March 7th. It’s impressive for a relatively new coin. When writing this, Bonk is only supported by one casino, but there are more Solana casinos available. Solana supports faster and cheaper transactions than Bonk, offering a wider selection of casinos.
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