2203 could be the year of the meme coin as there are so many interesting developments on the way for one of the most volatile sectors of the crypto market. That volatility however may be about to be a thing of the past. New projects aim to replicate the success of the two main meme coins Dogecoin (DOGE) and Shiba Inu.
However, as they have the benefit of hindsight they also set out to improve on aspects of their projects. Tamadoge was the first meme coin to come along and really challenge the traditional giants. It saw that meme coins with a thriving ecosystem and room to grow and develop could be much more popular than meme coins that just rely on their ability to go viral.
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Now we have Love Hate Inu (LHINU), which is currently going through presale and will be the first meme coin to also incorporate a vote-to-earn (V2E) platform. It is innovation like this that should make this new generation of meme coins even more popular than DOGE and SHIB.
Why Dogecoin is not the best investment option
A quick look at the graphic below would lead you to believe that Dogecoin (DOGE) is a good investment right now, it is pointing upwards and has even seen close to 17 percent growth in the last week. However, we are going to dig a little deeper here and show you why, at the moment, there are better meme coin investments out there than Dogecoin.
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If we look at it from a more macro point of view we can see Dogecoin has grown by 7 percent since the start of the year which seems fairly okay but we can consider how much the crypto market as a whole has grown this isn’t that impressive. Coupled with the fact its main rival Shiba Inu has grown by nearly 30 percent in the same time period I think we can disregard Dogecoin’s small growth as a marker for what’s to come in the future.
Shiba Inu’s latest development could also spell bad news for DOGE. The beta version of Shibarium has just launched and the complete version will be live in May of this year. This is the meme coin's very own layer 2 chain which will mean big things for its future. Faster cheaper transactions will likely attract much more users, as will the increased capacity to burn tokens which will make the ones available much more valuable to holders.
Lastly, let's take a look at what caused the price to go red less than two weeks ago. Halbron, a cyber security firm, did an investigation into DOGE and hundreds of other cryptos to check for any security issues. They found issues with over 250 cryptos including Dogecoin. The main issue was with its P2E capabilities, Halborn discovered hackers would be able to “craft consensus messages and send it to individual nodes, taking them offline.”
While the issue has been resolved by DOGE it doesn’t exactly instill confidence in the investing community. With issues of their own, their main competitor making greater sides, and new generation meme coins looking like they will have much stronger capabilities, it may be better to look elsewhere for investment options.
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Why Love Hate Inu is the best meme coin to invest in now
Of all the cryptos currently going through presale experts seem to be most aligned on Love Hate Inu (LHINU) and its bright future. As we mentioned it will be the first meme coin that also couples as a V2E platform. An important factor for meme coins is their viral capabilities, and despite being less than two weeks into its presale Love Hate Inu has already shown it is more than capable of this.
One search of the coin on youtube and you will already see a whole page of influencers talking about how much they love this new meme coin and that has been reflected in the presale figures. $100,000 was raised in the first few hours alone, it took 5 days to reach $500,000, and only another 3 to hit the $1 million mark. Now we are already onto stage 2 of the presale and it shows no signs of slowing down.
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According to The Business Research Company’s website, The online survey industry is currently worth $3 billion and that will increase to $6 billion by 2027. Love Hate Inu hopes to capitalize on that with its exciting platform that will allow users to vote and discuss the trendy topics of the day. The discussion will be moderated so everyone has a fair say and everyone treats each other with respect.
Love Hate Inu has learned from the mistakes others have made in the past so project security is a big emphasis of theirs. To protect against any future rug pulls they have allocated 90% of their tokens to be sold during the presale. This means that only buyers that have a vested interest in the project and its future will be involved in decisions about where the project goes in the future.
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User security and satisfaction are other emphases of the meme coins project. They have employed a stake-to-earn system in order to secure their poll's integrity. Users will have to stake for 30 days in order to vote on polls, this will stop polls from being spammed or rigged. This will also ensure their voter's anonymity, so they can vote without fear of ridicule.
In the future, the project will also allow its voters to create their own polls, the more you stake the more control you will have. They have left room for more development but as it stands we think Love Hate Inu is the most exciting coin going through presale today.
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Conclusion
Although it has recovered a little in price over the last few days we think overall Dogecoin has underperformed this year. When we compare it to the possibilities that Love Hate Inu brings to the table there is really no contest. The hot new crypto has just under a week until its next price increase so we would advise anyone interested to invest now.
