If you have to pick another 100X memecoin what would you pick? You would have to base your guess on what you already know about crypto. What would you pick?
This question happened in the last crypto Bull Run and retail investors answered it in their own special way.
The rise of Dog-inspired memecoins
If we look at the parabolic rise of Shiba Inu, DogelonMars and BabyDoge we will understand the process. Psychology was very much like mimicry or a copy machine. Elon Musk favored the old memecoin Dogecoin and therefore many of the big cycle winners became dogbased coins.
After the eccentric billionaire Elon Musk supported Dogecoin to a 100X in a matter of weeks the road was open for “copycats” or similar coins based on Dog memes. Shiba Inu was the greatest of them all, but Dogelonmars and Babydoge Coin also did well, going from nothing to a billion dollars or close enough.
Currently $ELON is down almost 90% from its all time high and BabyDoge is down over 80% – still both projects have values locked of almost 200 Million Dollars.
Why Memecoins have a value
Saying that memecoins are nothing and have no value goes against proven facts. The situation is that memecoin does have a value, although not in the same way that stocks have value.
Memecoins are products of a network and you have to use on chain metrics to evaluate them. They are risky investments, but if you buy them at the right time, take profits on the way up, you could make money with them.
It would be very foolish to deny that outstanding performance of a hyped memecoin does make some people very rich. So the value is there, but it’s a value of high volatility and risk. Memecoins are not a stable source of value. However their inherent value is still there as they are tokens under a more stable source of value like Binance Smart Chain or Ethereum.
Memecoins for women
In our modern society gender has become all the more important. Identity politics as introduced by feminists and gender scientists have entered both multinational companies and politics.
Of course the memecoin space is not immune from this. Rather it is not unlikely that some of the next 1000X memecoins might be a twist of the previous dogcoins and Elon Musk promoted memes.
This is why we have seen coins like Shibas Girlfriend and the meme token $SHELON that is promoted as the sister of Doge.
The most important factor for a 100X Memecoin
There are many things required for a 100X meme token besides a community and a core of believers. Mass psychology is not easy to predict. If it was, it would be much easier to become rich from crypto. Some people today think a ban of memecoins will come worldwide.
Thailand has already banned memecoins. Some people think Gary Gensler will deem them illegal in the United States as well.
However, if they are to stay legal then the chance of making money – if a memecoin were to be banned by big nations then the chances of the 100X becomes diminished or totally destroyed.
We need politicians to support memecoins so that they can remain legal otherwise there will be zero chances of making money from them.
The Case for Shelon becoming a 100X memecoin
So are there any chances of $SHELON becoming the next big memecoin to hit the market? To be honest the chances are rather slim, but the rising tide lifts all boats. We have to remember it wasn’t only one memecoin in the last bull run that performed very well. There were coin after coin making 50X or 100X or more. Shiba Inu did increase in value by 460000 times.
If Shiba Inu could go up 460000 times, only a fraction of that increase would make $SHELON go up by one hundred times. So provided that the politicians keep memecoins legal there will be much potential for massive gains in the meme coin space.
URL: https://memecoins.blog/2022/07/22/the-memecoin-shelon/
Meta: To 100X your money in memecoins is possible as long as the law allows it. If memecoins stay legal then dog-inspired coins for women like $SHELON could 100X.
