Cryptocurrency trading presents a complex landscape with many options spanning diverse niches and industries, making selecting a favored digital asset challenging. Fortunately, the versatility of today’s crypto ecosystem allows us to explore an array of DeFi projects, ranging from intricate protocols to engaging meme coins that inject a sense of amusement into the otherwise complex, technology-driven sector.
This essence of accessibility and fun propelled Dogecoin to the pinnacle of popularity in its early days. However, despite its innovative origins, Dogecoin’s deficient tokenomics and utility have led to its gradual decline, failing to consolidate its position as the market’s premier meme coin.
Nevertheless, this dynamic market has given rise to a new generation of successful meme coins that compete significantly with Dogecoin. Among these, DigiToads, Shiba Inu, and Floki Inu stand as top altcoins to buy. So, let’s learn about each of these gems.
1. DigiToads (TOADS)
The first intriguing contender to Dogecoin is DigiToads. Aiming to take the lead in an industry dominated by dog-themed tokens, DigiToads is quickly attracting a lot of interest.
Fusing the meme coin frenzy with play-to-earn gaming mechanics and Non-Fungible Tokens, DigiToads offers an exciting gaming environment and lucrative possibilities, making it an irresistible proposition for cryptocurrency enthusiasts.
The defining feature of DigiToads is its pioneering blend of entertainment and finance. It has crafted a captivating play-to-earn gaming ecosystem where participants can accumulate, cultivate, and pit their exclusive digital toads in competition. The proprietary TOADS tokens are used to reward high-performing players, seamlessly fusing entertainment with a potential revenue stream.
More specifically, DigiToads’ Web3 game is structured so that competitors vie for the top 25% positions on the leaderboard. Each gaming season spans one month, and triumphant players are handsomely rewarded with 50% of funds raised from the in-game asset sales.
Another factor ranking DigiToads among the best altcoins is its upcoming launch of an exclusive collection of 3,500 NFTs. This addition expands the investment opportunities, as these one-of-a-kind NFTs can be staked for rewards, thus introducing another income aspect to the project.
Furthermore, DigiToads intends to organize monthly on-chain trading competitions featuring the highly coveted Platinum Toads as awards. These exclusive NFTs will function as access keys to the project’s treasury.
As such, each Platinum Toad holder will be granted the privilege to engage in trading with a portion of the treasury, realize profits, and receive a 10% share from it. This approach not only stimulates the trading volume of TOADS but also fosters a vibrant and captivating environment for its community members.
What further makes DigiToads an ideal cryptocurrency for beginners is its online trading course, ‘Toad School.’ Every participant owning three or more DigiToads NFTs will gain access to these educational sessions, equipping them with comprehensive insights into initiating cryptocurrency trading. This knowledge will also help them increase their chances of winning platinum toads and guarantee bigger gains.
An additional factor cementing DigiToads’ position among the best crypto investment options is its deflationary tokenomics model – 2% will be automatically burned from every TOADS transaction. This indicated a gradual decrease in token supply over time. This scarcity concept is intentionally designed to stimulate token value growth, a trait that has attracted considerable investor attention.
Though DigiToads is a relatively new entrant, it has already reached remarkable milestones, amassing over $4.4 million during its presale phase. This impressive feat speaks volumes about the strong investor interest this new ICO has garnered.
As DigiToads persistently evolves and broadens its product range, it’s carving out a noteworthy presence in the crowded crypto market, asserting its shine amongst both novice and seasoned players.
2. Shiba Inu (SHIB)
The next gem on our Dogecoin altcoin list is Shiba Inu. SHIB pioneered a groundbreaking trend within the meme coin landscape by bringing tangible utility to the once humor-centric domain. Born as a Dogecoin alternative, Shiba Inu has surpassed its origins to carve out a unique niche, integrating engaging features and meaningful utility into its model.
Shiba Inu’s token, SHIB, operates on the Ethereum blockchain, further establishing its credibility and security. One of the defining features of Shiba Inu is its commitment to creating a comprehensive decentralized ecosystem. This manifests in the introduction of ShibaSwap, a decentralized exchange platform where users can stake, swap, and borrow cryptocurrencies, primarily SHIB.
This ecosystem also comprises its own Artist Incubator, inviting creators and artists worldwide to foster the NFT market. By embracing NFTs, Shiba Inu has expanded its reach beyond the traditional realm of cryptocurrencies, enhancing its utility and investment potential.
One of Shiba Inu’s most ambitious endeavors is developing a Shibarium layer-2 blockchain solution, which aims to resolve Ethereum’s high gas fees issue and provide its users with a more efficient and affordable transaction experience. This initiative is yet another example of Shiba Inu’s commitment to making cryptocurrencies more accessible to the public.
However, despite these promising features, Shiba Inu has a significant concern – it’s massive token supply. With a total circulating supply in the hundreds of trillions, SHIB’s value has often been under pressure. Nevertheless, the project’s team is actively implementing token-burning strategies to decrease the overall supply. These methods include various burn mechanisms linked to transactions in their ecosystem, such as NFT sales and transaction fees in ShibaSwap.
Presently, SHIB’s value is relatively low, mainly due to its vast supply. However, if the token burn strategies succeed in making SHIB more scarce, there’s potential for its price to increase.
3. Floki Inu (FLOKI)
Floki Inu is also among the best altcoins to watch in 2023. Once a meme coin inspired by Elon Musk’s canine companion, FLOKI has grown to become a full-fledged web3 project, encompassing decentralized finance, Non-Fungible Tokens, and the Metaverse. Now known as “The People’s Crypto,” the team behind Floki Inu has transformed a formerly simple meme coin into something much more substantial.
The associated token, FLOKI, is a multi-chain token, functioning on both the Ethereum and Binance Smart Chain (BSC) blockchains. Compliant with both ERC-20 and BEP-20 standards, FLOKI tokens can be easily moved between the two chains, enabling holders to store and transact their tokens on either blockchain.
FLOKI has an inherent 3% tax on buying and selling the token, though not on the transfer between chains. This tax feeds into the Floki Inu treasury, purposed towards enhancing the ecosystem and promoting the broader adoption of Floki. The team plans to decrease this tax once the treasury accumulates sufficient funds. However, a concrete target or timeline for this reduction remains unspecified.
The project’s latest iteration aims to deliver utility by building its own blockchain ecosystem and giving back to the community through philanthropic initiatives. It seeks to develop various projects like Valhalla and Flokiplaces, platforms where users can use FLOKI as a currency for trading NFTs and purchasing tangible goods. To further delve into cryptocurrency, Floki Inu presents Floki University, an educational platform offering insights into blockchain technology and cryptocurrencies.
Though FLOKI INU’s circulating supply surpasses 9 trillion, which often raises caution due to the implication of token price struggling amidst volatility, its overall utility cannot be overlooked.
Despite a stagnant price following a successful November 2021, many analysts perceive FLOKI as one of the top crypto coins in the meme coin market, given its ambitious expansion beyond its initial meme-coin status.
Bottom Line
Meme coins often serve as ideal entry points for those wondering how to get into cryptocurrency trading. Their light-hearted and engaging nature demystifies the often complex world of cryptocurrencies, providing a more approachable and enjoyable first step into the industry.
However, these assets also bear a degree of risk that should not be overlooked, particularly by novice traders. The value of many meme coins is typically influenced by short-term hype cycles and external factors. This trend has already been exemplified by Dogecoin, Shiba Inu, FLOKI, PEPE, and many more, whose value often mirrors their popularity.
Yet, amidst this landscape, DigiToads stands out. Diverging from the traditional meme coin trajectory, DigiToads has engineered a well-balanced tokenomic model complemented by an array of built-in reward mechanisms. This combination generates an entertaining and rewarding ecosystem, a rare find in the meme coin universe.
Therefore, while a few presale stages remain, take advantage of the opportunity to invest in TOADS at its lowest and secure the highest gains in the coming months.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.