Can Meme Coins Become Bitcoin 2.0?
The start of 2021 has certainly led to some exciting times in the financial space, with the GameStop stock kicking things off and still ongoing introducing many newcomers to retail trading and offering something of a David vs Goliath story with the underdog coming up against the established Wall Street, it has been the first of what could be many big opportunities for those looking to make a little extra. Other markets have had their own moment in the spotlight too, successes in online gambling platforms like penny slots have seen huge financial opportunities for those investing in the gaming space, and online entertainment has seen change with the growth of different streaming platforms.
The biggest opportunity, however, could be found in something a little more familiar as the crypto currency market continues to see big change – Bitcoin has already found a surge of success in 2021 by topping $60,000 multiple times already this year, and other currency like Ethereum has found its own success with the rising NFT market based on the Ethereum blockchain, but the big opportunity could be found in meme coins like Dogecoin, which have found themselves surging.
The meme coin initially launched in 2013 as a joking nod to the other coins emerging looking to take on bitcoin had been relatively small for the longest time, and although the current value is only at around $0.48, it is high for such a small coin, and with a market value at over $50 billion, it seems the only way is up. Celebrity interest has certainly helped to bolster the currency, the likes of Elon Musk have been actively invested in promoting crypto for some time and had been what many consider part of the reason for the spike in Bitcoin earlier this year with the announcement that Tesla would be accepting the crypto as payment for their cars, and has lately turned his head to dogecoin and the potential, but the big opportunity being explored by the wider audience is whether or not coins like this could become Bitcoin 2.0
Those who missed out on the initial wave of success have been looking for the next big opportunity to become a millionaire overnight, there have already been stories of individuals finding old wallets with millions of dogecoin on hand, and whilst it’s unlikely that coins like doge can rise to the same levels, hitting $1 doesn’t seem too far out of the realms of possibilities given the trajectory it has been on. If you’ve been looking for an opportunity to get in early, then this may be one of the few chances to do so as new emerging coins hitting the heights seen with some of the current crypto options may start to become a thing of the past as more stability has been the goal for many coins.