MCS | Meme Coins on the Rise

MCS |  Meme Coins on the Rise


Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

Over the past week, the cryptocurrency SHIB price has risen more than 200%, once ranked 13th by market cap.

Source: Coinmarketcap

Elon Mask uploaded to Twitter on October 4 a photo of a puppy named "Floki Frunkpuppy" basking under the sun in a Tesla car. Many investors saw this photo and interpreted it as Musk's support for SHIB, pushing SHIB prices up a lot. This photo is probably the most expensive in human history.

Source: Elon Musk Twitter (@elonmusk)

As the price of Dogecoin (DOGE) rose significantly due to Elon Musk, many investors had started to show interest in meme coins. Recently, SHIB coin can be seen as the most successful.

SHIB is an abbreviation of SHIBA INU and is one of the consensus projects with community characteristics. SHIB is a project promoted by a voluntary decentralized community in August 2020 with a total issuance of 1000 trillion. This community even considered SHIB a "Dogecoin Killer." SHIB has now risen thousands of times compared to its initial issuance price, and at the same time, is gaining more popularity than Dogecoin. At the beginning of its release, many people thought that SHIB was just a joke, but now looking back, it is doing pretty well.

SHIB Coin ignited the concept of meme and surpassed Chainlink (LINK) 14 months after launch. It took Dogecoin over 7 years to achieve this.

The meme coins currently in circulation in the cryptocurrency market share a few common characteristics. One is that it has a large number of issuances at a very low issuance price. Secondly, most of them have a strong community and consensus.

Source: Coinmarketcap

However, not all meme coins are as successful as Dogecoin or SHIB. The existence of multiple meme coins is simply to attract investors' attention and to obtain a demand for funds. For the meme coin to succeed in the crypto world, constantly innovating and developing in technology, economy, and culture is necessary. Investors need to keep their eyes open and invest rationally.

Traders ALWAYS come first on MCS.

Thank you.


MCS Team

Read the Market, Trade with Confidence, Triumph Your Future


MCS Website:
MCS Official Twitter (EN):
MCS Official Facebook:
MCS Telegram Chat (EN):