Meme coins first entered the crypto market in 2013 with Dogecoin (DOGE) being the original meme coin to exist. Since then, there has been a rise in meme coins as they have gained a lot of popularity. With Dogecoin and Shiba Inu (SHIB) being the most popular ones on the market, there are many on the rise such as Parody Coin (PARO).
The Rise Of Dogecoin (DOGE)
Dogecoin is currently the biggest meme coin in the market. Since its release, DOGE has shown major growth in popularity and is among the likes of Elon Musk.
Having a significant influence on the crypto market, Elon Musk has shown his enthusiasm for Dogecoin in specific, even allowing it as a payment option for Tesla merchandise. When Musk first started to support this meme coin publicly, its popularity rose significantly.
Although DOGE started as a joke, it has since developed to be much more than, and is now a trusted cryptocurrency that is used worldwide. Paving the way for new meme coins to enter the market, Dogecoin is likely to remain the most popular meme coin for quite some time.
Where Does Shiba Inu (SHIB) Stand?
The second-largest meme coin in the market, Shiba Inu is another meme coin that has made its way up in the crypto market. Launched only in 2020, SHIB has shown quick success as it is known to be one of Dogecoin’s biggest rivals.
Similar to Dogecoin, the reason for SHIB’s success is partly credited to Elon Musk. When he once tweeted about his dog, a Shiba Inu, there was a sudden rise in popularity for the token. Although this wasn’t a sign of outright support for Shiba Inu, it still provided outstanding benefits for the coin.
Since then, Shiba Inu has held its popularity and has been doing very well in the market.
Does Parody Coin Have The Same Potential?
Although Dogecoin and Shiba Inu have proven their success over time, their popularity with users is partly credited to luck and the influence of Elon Musk. Although it is unknown if Parody Coin will receive this luck in the future, it still has the potential to succeed just as much.
Currently in the presale stage, Parody Coin seems to be gaining popularity quickly, due to the fact it has a clear plan for its users. Offering more than the basics, Parody Coin has an NFT marketplace and other features to attract users.
At the time of writing, PARO is in phase 2 of the presale. In phase 3, users can expect big things including an announcement of a new game release. By setting these plans in place, early investors have an idea of what to expect and can determine whether they want to be a part of this project.
The Future Of Meme Coins?
As meme coins have been doing well over the years, we can only expect them to continue to grow. Parody Coin is a great example of an upcoming meme coin with potential to rise within the market. As meme coins rely on the hype created online around them, as proven by DOGE and SHIB, meme coins like PARO inevitably continue to do well in the market.
Parody Coin (PARO):
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