Crypto meme coins continue to captivate the market, with investors scrambling to identify the next big success story. The current top five trending Ethereum-based ERC-20 coins on DEX Tools are RefundCoin (RFD), GMFAM (GMFAM), Ben (BEN), Pepe (PEPE), and Papi Chulo (PAPI). While some of these coins have experienced rapid increases in value, it’s essential to remain vigilant as the potential for pump-and-dump schemes is always present in this market.
RFD leads the pack with a staggering 200x increase from its listing price. The coin’s creator, blurr.eth, is an anonymous figure with an estimated Ethereum net worth of at least $100 million. Meanwhile, GMFAM has risen 160x since its listing, with a current market cap of just over $5 million.
Another trending coin is Ben (BEN), which has experienced an 80x increase in value. However, it appears that the coin might be on the brink of breaking a descending triangle, which could lead to a significant drop in price. On the other hand, PEPE, the Pepe the Frog meme coin, seems to be losing steam, and it is currently on the edge of breaking key resistance levels. With a market capitalization of $600 million, it’s unlikely that the token could gain much more traction.
The recently-launched Papi Chulo (PAPI) has already risen by 11x, though the token’s future use-case remains a secret until it is listed on 20 centralized exchanges. PAPI’s roadmap will also be unveiled once it has 3,000 holders.
While some meme coins may offer short-term gains, investors may want to explore lower market cap investments with a genuine use-case in web3 startups. These opportunities often provide better prospects for long-term returns with real value and utility, a feature that meme coins typically lack.
Three such promising web3 startups are AiDoge (AI), Ecoterra (ECOTERRA), and yPredict (YPRED). These projects focus on meme generation, environmentally friendly behavior, and AI-powered trading signals, respectively, and are currently in various stages of their presale. They present compelling opportunities for crypto enthusiasts who want to capitalize on early-stage investments with clear use-case potential.
In conclusion, the meme coin frenzy continues to dominate the market, but it’s crucial to be cautious and differentiate between short-lived gains and projects with more long-term viability. Investing in web3 start-ups that offer real use-cases can provide a more stable foundation and a higher chance of reaping significant returns. Before making an investment, always conduct thorough research and weigh the potential risks and rewards.
Source: Cryptonews
