Meme coins were the definitive success stories amongst the many positives for cryptocurrency in 2021. The 2 major meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB). The two dog-themed cryptocurrencies are currently ranked 11th and 14th respectively by market cap. Despite wider market resurgence after a tough start to the year, meme coins, including the big two, have enjoyed mixed fortunes in 2022. Some analysts are wondering if the dogs have had their day and investors’ attention is switching to coins with more utility and as a result, more of a long term future. Projects like Solana (SOL), Fantom (FTM), and Seesaw Protocol (SSW) have been gaining traction.
Meme coins gained their name for being drawn from memes that already had a level of Internet notoriety. DOGE, for example, took inspiration from the infamous Doge meme that peaked around 2013, when the coin was released. One of the most outspoken proponents of these canine coins has been Elon Musk. The Tesla CEO and Founder has become an unofficial mascot of meme cryptos. This has developed to an extent where there is a coin named after him: Dogelon Mars.
Dogelon Mars (ELON)
Dogelon Mars’s (ELON) association with Elon Musk is a clever marketing ploy to help it gain traction against the hundreds of other available meme coins. Having been launched in April of 2021, ELON quickly became successful, thanks in no small part to its name. Merging Doge with Elon and referencing Mars (with the implication being that ELON will go past ‘the moon’), Dogelon Mars quickly found itself as one of the most popular meme coins outside DOGE and SHIB. It currently has the 118th biggest market cap, the third-largest of any meme coin.
From launch to its current all-time high of $0.00003263, ELON increased by more than 65000%. Since that peak in July of 2021, ELON has dipped significantly and its current price of $0.000000941 is 97% down from its ATH. Similar, albeit less drastic, drop-offs from most other meme coins could be a sign that utility is starting to overtake meme-ability.
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Seesaw Protocol (SSW)
Seesaw Protocol (SSW) remains in the first stage of its presale, having launched at the end of January 2022. Its price was $0.005 and at the time of writing, it has risen to $0.058. This is an increase of over 1000% meaning that the earliest investors have made 10x on their money.
Yet another bonus for SSW holders is the referral system offered; up to 5% for referrer and referee. There is a 3% fee on each purchase of SSW and there will be a 5% fee on each sale.
This is allocated in several different places:
• 1% of the buy fee is given to existing holders
• 1% is paired with BNB and added to liquidity
• 1% is for marketing costs
• 1% of the selling fee is also distributed amongst holders
• 3% is sent to liquidity
• 1% allocated for marketing costs
With constant rewards handed back to holders every time someone buys or sells SSW, there is a clear incentive to hold for extended periods. Given that SSW holders cannot sell until the project launches, the 1000% increase in the price so far is set to increase further as the April launch date approaches.
Enter Presale: https://presale.seesawprotocol.io/register