Meme tokens could dominate the market in 2022

Cryptomeme trend
Representation of Dogecoin cryptocurrency is seen with Shiba Inu cryptocurrency logo displayed on a screen in the background in this illustration photo taken in Krakow, Poland on June 29, 2021 (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images

Cryptomemes will continue to expand in the crypto market and could dominate in 2022 due to the rise of social commerce.

The cryptocurrency community continues to gain new audiences interested in investing in the said sector; A clear example of this has been what happened during 2021, where a large number of tokens were on the rise and rose to levels never reached. Among these assets, crypto tokens stood out, and we don’t just refer to Dogecoin or Shiba Inu; There were multiple cryptos that were on the rise due to fanaticism and social acceptance.

At the beginning of this article, 2 of the community’s favorite crypto tokens are present in the TOP 10 of tokens with the highest capitalization, with Dogecoin dominating with a capitalization of $30 billion, and further back is Shiba Inu with a market cap of $25 billion.

It is clear that the coins based on the concept of memes do not have solid pillars that let investors know that it is a reliable project; such as those owned by Ethereum or another project. Which is credited with creating no profit in the market, so how is it possible that memes or assets that are based on memes can be driven higher? What awaits you in the future? Here is the answer.

Why could investment in crypto tokens be higher than ever in 2022?

In 2021 it has been seen how a large number of investors turn to digital assets based on memes, and it is possible that it is due to the fact that the true power of the crypto community has been discovered. Since these movements began in the well-known Reddit forum; exactly with GameStop.

Shortly after, the same group of investors that generated this 4,000% rise in GameStop shares wanted to apply the same with the crypto tokens known as Dogecoin. This led to a rise in the token of more than 14,000%.

Although the group encouraged a large volume of investors, this was not the only thing that DOGE gained by entering the market; It also found highly influential backers, starting with Tesla, SpaceX and Neuralink CEO Elon Musk.

It can be summarized, in that the group that promoted Dogecoin and GameStop has created a new market for crypto tokens in general; This can be seen on social media, where the enthusiasm of retail investors for meme-based currencies is noticeable. So will memes be the cryptocurrencies of 2022?

Adoption rates on social media continue to grow

The year 2022 will be fascinating for cryptocurrencies in general, as the volume of retail investors is expected to continue growing; as well as the rate of adoption and profit; There are already communities formed on Reddit, Facebook or even Twitter, where these topics are discussed, and prominent growth rates are maintained.

Which also translates as greater investment in memes for the coming months and years. Since, platforms that encourage social investment are also being developed, they also share the sentiment of retailers and experiences. One of them is KuCoin, and it is possible that this favors investment in memes in 2022.