The most famous thing about meme coins is their comedic origins. The second most famous thing about meme coins is their volatility. They are tangentially related to the rest of the cryptocurrency market but often act conversely. In and of themselves, they are their own entity.
The decentralized finance (DeFi) sector has been sitting in the backseat since whipping up a frenzy in the summer of 2020 through the first quarter of 2021. Currently, investors are debating whether the crypto sector is in a bull or bear market, meaning, it’s a good time to check in on the state of DeFi and identify which protocols might be setting new trends.
By far, the biggest meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB). They currently have market caps of $14.8 billion and $11.7 billion, respectively, and both are ranked in the top 20 of all cryptocurrencies. The big two meme coins make up over 75% of the market cap of all meme currencies, and as such, are clearly giants in the sphere. Why then, are they dipping? And should investors look elsewhere? Projects with release dates in the next month or so could be a viable alternative to meme coins, and Seesaw Protocol (SSW) is just one of these.
Dogecoin (DOGE) actually launched in 2013, making it one of the earliest cryptocurrency projects. Its creators Billy Markus and Jackson Palmer developed DOGE in an attempt to satirize Bitcoin (BTC), which had risen to prominence around that time.
It took almost eight years for DOGE to come to the attention of the masses, but when it did, it made a huge splash. From January 2021 to May 2021, it increased by over 15000 on May 8.
Since that heady height, DOGE has slipped significantly. More than 80% down from its peak.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was released in 2020, with plenty of time to take advantage of the meme coin hype. SHIB spiked hugely around the same time that DOGE did, but its biggest increase came in October 2021.
SHIB’s all-time high is more than 70,000,000% higher than where it started in 2021. This is the clearest evidence yet that meme coins have the potential to make millionaires seemingly out of nothing.
Like DOGE, SHIB has also fallen away since its high point. It is 75% down on its October price and has continued to decline since the turn of the year.
Elon Musk: The meme coin king
Tesla CEO Elon Musk has found himself intrinsically tied to meme coins throughout the past year. Every time Musk mentioned Dogecoin or Shiba Inu, on Twitter or SNL, for example, the meme coin’s price skyrocketed. For a time, Musk even allowed people to pay for Tesla merchandise in DOGE.
The latest tweets from Musk have not affected the price of these meme coins as they once would have. Late in 2021, an announcement that Doge holders would once again be able to purchase Tesla items caused DOGE to spike by 20%. His latest, in February, caused a mere ripple of 3%.
Seesaw Protocol (SSW)
With Musk’s influence seemingly waning, and meme coins lacking utility, it is perhaps time to turn to other cryptocurrencies. Seesaw Protocol (SSW) is a promising project due to be released in April 2022.
Seesaw Protocol (SSW) provides several services to users who need to manage crypto assets on the most popular blockchains and peer-to-peer exchanging services in a decentralized and open way. It has been rising for more than a month now, with no signs of stopping.
Seesaw sees the coming future and is creating a metaverse for immersive learning where children can live in an interesting virtual world and learn, which is the natural outcome of enjoying the metaverse.
The project is currently in its second presale stage. The token’s value has a good chance to increase since it operates on a fee-sharing reward system, making it a solid investment opportunity that shouldn’t be overlooked.
It is built on a smart platform offering several enticing incentives to encourage users to use Seesaw Protocol.
Enter Presale: https://presale.seesawprotocol.io/register