When it comes to digital assets, many projects offer little or no value to the crypto market. These projects are often referred to as “shitcoins,” which describe how they are viewed within the industry.
Shitcoins are a dime a dozen these days. But which one is the best shitcoin to buy in 2023?
In this article, we’re going to outline our top 10 best shitcoins to buy in 2023. From meme coins to projects with a lofty goals, these coins have something special that makes them worth investing in for this year. So if you’re looking for an altcoin to invest in this year, be sure to check out our list!
What Is A Shitcoin?
A shitcoin is a subjective term and means different things to different people. For example, some people view meme coins – like Shiba Inu and Dogecoin – as shitcoins. The term can also apply to projects that aren’t as serious as other projects in the blockchain world.
Shitcoins are also viewed by the crypto community as having no identifiable purpose or value and they often don’t fall into a specific category. These crypto projects are sold at speculative pricing or are useless as they are a cheap duplicate of previous initiatives. As a result, it became a subjective word that any individual might apply to the cryptocurrencies they are considering.
A shitcoin’s decreasing value is caused by various factors. One is that it is the result of failing investment opportunities because it was not issued in good faith. Another reason is because its pricing was based on speculation.
With that, these coins often have little or no value in the market. Most shitcoins get their value from just existing or enlisting the support of a well-known corporation or through celebrity endorsements.
On the other hand, many crypto investors still find real-world assets, utility, and value in these coins. They show strong interest in these crypto assets and think they’re worth something.
Best Shitcoins to Buy for 2023
Finding the best shitcoin right now to invest in isn’t as simple as using Google to find the best one. Thousands of cryptocurrencies are available, so you have a good chance of finding something that fits your criteria. To get you started, we’ll take a look at some of the best shitcoins to buy for 2023.
However, it’s always important to keep in mind that cryptocurrencies – especially those with little or no value – are susceptible to sudden changes in the market. That means you should keep a close eye on prices and never invest more than you’re willing to lose.
Dogecoin (DOGE) – Most Popular Shitcoin
- Symbol: DOGE
- Current Rank: 8th
- Current Price: $0.082156
- Trading Volume: $672.55M
- Circulating Supply: 137.33B DOGE
- All-time High: $0.731578 (May 2021)
- All-time Low: $0.0000869 (May 2015)
If you’ve paid attention to the crypto market, you may have wondered if you should invest in DOGE. This shitcoin is arguably the most well-known among its peers. While it was relatively unknown for a few years, it recently rose to popularity thanks to endorsements from celebrities like Elon Musk, Snoop Dogg, and Mark Cuban.
Dogecoin is a cryptocurrency that was created as a parody of Bitcoin. It quickly gained popularity, and its price has exploded in recent months. It is a fun, innovative, and highly-touted altcoin that has seen great success in 2013.
As of this writing, Dogecoin is the eighth-largest cryptocurrency by market capitalization, coming in at over $12 billion. It’s the perfect coin for those looking for a low-cost way to invest in cryptocurrencies, and its active community is strong and committed.
The value of this meme token comes from its popularity as a meme coin, as well as its utility as a tipping currency on social media platforms. Dogecoin has also been used to donate to charities, including the Dogecoin Foundation and the Jamaican Bobsled Team.
While Dogecoin’s value is largely based on speculation at this point, there is potential for it to become a more widely-accepted form of currency in the future. For now, Dogecoin is a fun and easy way to get involved in the cryptocurrency market.
Benefits
Some of the reasons to buy DOGE include:
- Decentralized finance framework
- Fast user transactions
- Continuously growing community
- Availability in major exchanges
Drawbacks
Some of the reasons why DOGE could be risky to buy:
- Supply is unlimited
- Typicality of the “pump and dump” schemes
Ripple (XRP) – Most Corporatized Shitcoin
- Symbol: XRP
- Current Rank: 7th
- Current Price: $0.3631
- Trading Volume: $886,432,009
- Circulating Supply: 50,395,461,568 XRP
- All-time High: $3.84
- All-time Low: $0.002686206662 (May 2014)
Why is XRP on our list? Because it goes against everything cryptocurrencies stand for. Sure, some projects offer not much value or make no sense, but at least they’re not out there crapping on the market and the intended purpose of cryptocurrencies.
For example, Ripple is not a decentralized coin. The power of the project lies within the hands of the few, instead of the many. Additionally, XRP has vocally stated that it wants to replace SWIFT. Despite plenty of support, it’s nowhere close to accomplishing this task. It also doesn’t help that Ripple is perpetually in litigation with the US Securities and Exchange Commission (SEC).
There are also plenty of options on the market. For example, Stellar (XLM) is a project that offers nearly the same functionality as Ripple. JP Morgan has also announced its inter-bank blockchain, which could potentially leave XRP in the dust.
Lastly, Ripple adds no value to the cryptocurrency industry. It’s simply replacing an already existing ecosystem with another one. It’s a digital version of the centralized and privatized version that’s already in place. If anything this spits in the face of what cryptocurrencies are trying to do.
The project makes no effort to improve the world around us. It’s simply attempting to game the system using blockchain technology. It ignores the intentions of pioneers in the industry like Satoshi Nakamoto, Jack Mallers, Charles Hoskinson, or Vitalik Buterin.
Benefits
Some of the reasons to buy XRP include:
- Faster and more energy-efficient than other coins
- Decentralized but owned by a private company
- Can be used by small businesses and consumers for money transfers
- Channel international money transfers
Drawbacks
Some of the reasons why XRP could be risky to buy:
- Only a few investors
- Less secure consensus protocols
- Difficult to buy in the US
Shiba Inu (SHIB) – Best Alternative to Dogecoin
- Symbol: SHIB
- Current Rank: 15th
- Current Price: $0.000008559
- Trading Volume: $129,910,208
- Circulating Supply: 549,063,278,876,301.94 SHIB
- All-time High: $0.000084
- All-time Low: $0.000000000056 (Nov 2020)
If you don’t want to invest in Dogecoin, you can consider the next best thing: Shiba Inu. This light-hearted token is an excellent alternative to DOGE. When Shiba Inu came to market in 2020 without any idea if it would have a successful presale, it made a name for itself by boasting that it was the “Dogecoin killer.”
This digital asset has absolutely no use cases, which makes it the very definition of a shitcoin. SHIB is above all else, a meme token. That means that despite its popularity, it’s still a risky investment. However, unlike other meme coins, Shiba Inu is working hard to show that it offers some utility, which would give it more value and could potentially make it even more popular.
The token developers have created a decentralized exchange called ShibaSwap, where SHIB and ETH can be traded. The team is also working on an app called Dogelon Mars, which will be a browser-based gaming platform that allows players to earn SHIB.
While there’s no guarantee that these ventures will be successful, they do show that the team is committed to making Shiba Inu more than just a meme.
Benefits
Some of the reasons to buy SHIB include:
- So much growth potential (layer-2 blockchain network launch, metaverse experience)
- Has partnerships to make itself a free-to-play mobile gaming platform
- Competitive against the other meme coin, DogeCoin, in the market
- Has proven useful application with NFTs and DEX swaps
Drawbacks
Some of the reasons why SHIB could be risky to buy:
- Dubious tokenomics
- “Unstable” stablecoins
Apecoin (APE) – Best Shitcoin for Crypto Commerce
- Symbol: APE
- Current Rank: 32nd
- Current Price: $3.77
- Trading Volume: $144,652,82
- Circulating Supply: 361,250,000 APE
- All-time High: $27.51
- All-time Low: $3.10
The Apecoin project launched earlier in 2022, developed by the same team that introduced the Bored Ape Yacht club to the crypto world. This ERC-20 asset is built on the Ethereum blockchain and comes with utility functionality and governance. Even though the coin launched just a few months ago, it’s seen significant highs and lows.
Apecoin has a maximum supply of one billion APE tokens, which means there will never be more than that available. Apecoin is a crypto token explicitly developed for the Metaverse. It’s used to pay for items while shopping in the Metaverse. That’s its main utility. However, Apecoin users receive discounts when making purchases.
The craziness behind the Ape ecosystem has resulted in a total market capitalization of close to $1.45, as of writing. Even though there’s only one use case for Apecoin, it’s still considered a shitcoin since it doesn’t offer much in the way of value. Still, it’s not a bad choice if you’re looking for a coin to add to your portfolio.
Benefits
Some of the reasons to buy APE include:
- Low-cost method for making mobile payments or in-game purchases in the NFT ecosystem
- Facilitates the development of innovative services for efficient digital transactions
- Established and identity of having a decentralized governance framework
Drawbacks
Some of the reasons why APE could be risky to buy:
- Pretty novel platform
- Now new tokes mined
Floki Inu (FLOKI) – Best Shitcoin for Multi-Chain Functionality
- Symbol: Floki
- Current Rank: Unranked
- Current Price: $0.000009468
- Trading Volume: $2,976,464 34.52 Floki
- Circulating Supply: 9.3 Trillion Floki
- All-time High: $0.0003367 (November 2021)
- All-time Low: $0.000000084280 (July 2021)
Another dog-themed shitcoin you can take a look at is Floki Inu, which joined the crypto market in August of 2021. The coin shot through the roof after its initial launch, which was largely attributed to the way investors associated Floki Inu with Dogecoin.
Elon Musk announced in June 2021 that he was calling his pet Shiba Inu “Floki,” resulting in the creation of the Floki Inu coin. Floki Inu, now simply known as Floki, began as a dog-memed money, similar to Dogecoin, but a deeper look shows that it is so much more than being a laughing stock.
This Musk-inspired meme coin is also focused on developments within its network that help grow brand awareness. The cryptocurrency launched various projects that this multi-chain currency that operates on the Ethereum and Binance Smart Chain (BSC) blockchains can use to widen its reach. Some of them are:
- Floki University, designed to educate a growing audience on cryptocurrency through its unique metaverse university, while also promoting the exposure of the Floki Inu ecosystem
- Valhalla, an NFT gaming metaverse raising play-to-earn and reward opportunities for players
- FlokiPlaces, an expansion of Valhalla, opens a merchandise marketplace establishing Floki as an alternative to DogeCoin, Bitcoin, and USD as payments
Unfortunately, since its meteoric rise in the latter part of 2021, Floki Inu has drawn back quite a bit. Nearly 92% of its initial gains are gone, but many people believe it’s largely due to the contracting market as a whole. Still, the meme coin seems to be holding steady as it sees trading volumes that exceed $10 million a day.
The development team behind Floki Inu has since turned its attention to developing a community while turning the shitcoin into a valuable utility token. This is based on the relationship the project has with CryptoCard, which lets you purchase goods using Floki Inu from nearly 2000 retailers.
Benefits
Some of the reasons to buy Floki include:
- Can be utilized in both Ethereum and Binance Smart Chain platforms
- Trusted and promoted by celebrities
- Offers an affordable trading charge for transactions
Drawbacks
Some of the reasons why Floki could be risky to buy:
- A risky investment because of constant value fluctuations
- Cannot be purchased with fiat currency directly
- Has massive supply
SafeMoon (SAFEMOON) – Best Shitcoin That’s Not a Dog Meme
- Symbol: SFM
- Current Rank: 192nd
- Current Price: US$0.000000005633
- Trading Volume: $383,532
- Circulating Supply: 562,000,750,809,187.1 SFM
- All-time High: $7.97
- All-time Low: $0.00023737
Things change fast in the crypto market. It’s a volatile industry and interest can change on a dime. This is why investors are constantly on the lookout for the next shitcoin that’s going to go to the moon. SafeMoon is a shitcoin that came to market in 2021 and is designed specifically to knock Shiba Inu off its lofty perch.
SafeMoon’s developers believed it has the chops to compete against popular meme coins like Shiba Inu and Dogecoin and as a result, positioned itself to be a solid bet in the shitcoin industry. Their hunch was right, as the value of SafeMoon shot through the roof within a few weeks of its launch. Unfortunately, the market turned south before more investors could get their hands on SafeMoon.
As the market continues its overall slide, SafeMoon is looking to rally when things ramp back up. The development team behind the meme coin plans to create additional interest in the coin while gaining interest from the project’s community. One of the ways they’ll do this is through the SafeMoon wallet.
SafeMoon also says that it’s working on both an exchange and a hardware wallet, allowing users to safely store their digital assets. These exciting features and others have allowed the project to maintain interest from its holders.
As a result, SafeMoon sees trading volume near $1 million while continuing to gain social media followers. Not bad for a shitcoin, right?
As the crypto industry continues to recover, many investors will look to something other than Dogecoin or Shiba Inu. SafeMoon is a decent option that plans to carve out a place for itself in the market.
Benefits
Some of the reasons to buy SFM include:
- Valuable, effective branding
- Promoted by popular influencers
- Could be a source of passive income
Drawbacks
Some of the reasons why SFM could be risky to buy:
- Difficult to use for trading for fiat currencies
- Lack of liquidity aggravates price fluctuations
- Only available in PancakeSwap and BitMart
Samoyed Coin (SAMO) – Best Solana-based Shitcoin
- Symbol: SAMO
- Current Rank: 745th
- Current Price: $0.0035
- Trading Volume: $707,424 (24-hour)
- Circulating Supply: 3,550,765,165 SAMO
- All-time High: $0.004356
- All-time Low: $0.003453
Samoyed Coin is designed to be user-friendly and easy to use. It has a fast transactions network that allows for quick and easy transactions. Additionally, It has an innovative proof-of-stake consensus algorithm that ensures secure transactions.
This Solana-based shitcoin is among the fastest-growing shitcoins and is considered by many as crypto with plenty of potential. Even though Samoyed Coin has only been around for a year, Solana users and other supporters helped it to quickly make its way to the top of the shitcoin mountain. This is due largely in part to the team behind the Solana project: Anatoly Yakovenko and Sam Bankman-Fried.
With these two piloting Solana, Samoyed Coin is realizing legitimate gains as the market sees an uptick. Unfortunately, the coin missed out on a bull run in early 2021, so it has its work cut out for it. Still, Samoyed Coin showed its potential when it increased more than 1000% in November of 2021.
Despite its struggles, Samoyed Coin has seen a rise in its community and trading activity. Plus, the shitcoin plans on showing that it’s more than just a pretty face as its development team works on features that could make the project a legitimate force in the crypto industry.
For example, the SAMO team is working on a school to teach users more about Samoyed Coin and its value in the crypto industry and SAMO NFTs. Along with these initiatives, Samoyed Coin plans to ramp up its marketing efforts to continue to drive interest in the project itself.
Benefits
Some of the reasons to buy SAMO include:
- Anchored on Solana, one of the blockchains with the most sophisticated smart contracts
- More energy-efficient than Shiba Inu and DogeCoin
- Can be collected as NFTs
Drawbacks
Some of the reasons why SAMO could be risky to buy:
- Still not widely-available
- Vulnerable to compromises made by Solana
Wakanda Inu (WKD) – Best Shitcoin for Giving Back
- Symbol: WKD
- Current Rank: Unranked
- Current Price: $0.0000000062
- Trading Volume: $5,963.58 (24-hour)
- Circulating Supply: 39,244,753,003,542 WKD
- All-time High: $0.00000005
- All-time Low: $0.000000006131
The next shitcoin on our list is Wakanda Inu, which is a coin that gained a lot of attention when it launched but has since dropped off a little. However, there are already more than 39 trillion WKD in circulation, which shows the popularity of this African-based project.
Inu is a new and innovative and popular cryptocurrency among crypto enthusiasts and investors. It is an exciting new investment option because it offers significant potential for long-term growth. The Inu is based on the Ethereum blockchain platform, which makes it highly versatile and secure.
Investors can show their goodwill by purchasing WKD, which focuses on giving back to less-fortunate communities. Wakanda Inu plans on providing use cases for its token by launching an NFT market and a decentralized platform on which investors can swap their WKD for other cryptocurrencies.
One way Wakanda Inu plans to give back is through its clean water initiative. There are hundreds of thousands of deaths in African countries associated with water-borne illnesses. Wakanda Inu wants to support these communities with the clean water they need to thrive.
Benefits
Some of the reasons to buy WKD include:
- Rapid increase in coin value
- Strong community project that promotes growth and coming together
Drawbacks
Some of the reasons why WKD could be risky to buy:
- Its price had a major decrease of -95% in the past year
- Some analysts don’t see growth potential to this meme coin in the long run
Dogelon Mars (ELON) – Best Shitcoin Inspired by a Billionaire
- Symbol: ELON
- Current Rank: 130th
- Current Price: US$0.0000003078
- Trading Volume: $6,261,285 (24-hour)
- Circulating Supply: 550,759.66B ELON
- All-time High: $0.00003263
- All-time Low: $0.000000286839
ELON is a shitcoin inspired by none other than Elon Musk and his support of Dogecoin. The best part about this coin is that it was launched to allude to Elon Musk’s desire to explore space, specifically Mars.
After its launch, Dogelon Mars (ELON) saw an immediate increase. The coin grew by more than 30,000% within a month of its launch.
Since that time the project has fallen back down to earth, but it’s still one of the best compared to many other shitcoins you can buy in 2023. This is primarily because many investors believe that Dogelon Mars has yet to reach its full potential. For example, ELON has over half a million followers on various platforms like Reddit, Twitter, and Telegram.
Unfortunately, the identity of the Dogelon Mars founders is not known, which makes it an ideal project for a scam or a rug pull. Despite its recent surge in activity over the past few weeks, Dogelon Mars is still a project that could use an exit scam to bilk investors out of their money. Be sure to do your due diligence before investing in this project.
Benefits
Some of the reasons to buy ELON include:
- Continues to prosper every year
- Listed in major decentralized exchanges
- Has been hyped by social media
Drawbacks
Some of the reasons why ELON could be risky to buy:
- Doesn’t have an established ecosystem
- Has no whitepaper
Tamadoge (TAMA) – Shitcoin That Sold Out $10 Million Presale
- Symbol: $TAMA
- Current Rank: Unranked
- Current Price: $ 0.016022
- Trading Volume: $ 1.69M
- Circulating Supply: $1,645,286
- All-time High: $0.01738
- All-time Low: $0.0136
Tamadoge is a new shitcoin that, following a successful presale in which the coin garnered $10 million, is expected to alter the way we think about digital currencies. The Tamadoge ($TAMA) cryptocurrency, which was just launched in the middle of 2022, blends the wide popularity of meme currencies with the highly regarded P2E crypto gaming model.
During their presale, Tamadoge tokens were bought for $0.01 apiece, with a minimum purchase of 1,000 tokens ($10) expected. TAMA may be purchased with ETH or USDT, which can then be converted to TAMA. Users may also purchase TAMA with fiat cash through a debit or credit card.
It claims to be one of the most anticipated meme currencies of all time and challenges the Play-to-Earn market to deliver a game that people would fight over in order to utilize. The goal of this shitcoin is to allow anybody to mint as many doges as they like, and it will let users to breed, train, and duel their Tamadoge NFTs to lead the scoreboard every month.
Although new to the crypto ecosystem, it already prepares the release of more than 21,000 NFT collections. They also have a native token–Tamadoge Token ($TAMA)–that can be used to play their games and earn rewards in Tamaverse.
The Tamaverse centers around digital pets at its heart. Tamagochi, a popular handheld digital game from the 1990s, inspired it. The future is even brighter for their users as they’re soon to launch the Tamadoge Arcade, their first game.
Benefits
Some of the reasons to buy $TAMA include:
- Offers affordable pricing
- No transaction fees
- Probable long-term investment
- Future-oriented plans for the platform
Drawbacks
Some of the reasons why $TAMA could be risky to buy:
- Fairly new in the market
- Could be vulnerable to market volatility
The Value of Shitcoins
The above shitcoins list is some of the best shitcoins to buy in 2023. There are various reasons why some people might invest in shitcoins, but the most common is speculation.
Some people believe that these coins have the potential to grow in value. In contrast, others believe that they’ll eventually become worthless.
Regardless of why someone might buy a shitcoin, it’s important to remember that there’s no guarantee that the coin will increase in value, so due diligence is advised. It’s also important to know the risks involved with buying any cryptocurrency, including shitcoins.
Where to Safely Store Shitcoins
It’s important to remember that shitcoins are not legal tender, so be sure to keep them safe. Here are a few places you can safely store your shitcoins:
- A digital wallet: This is one of the most secure ways to store your coins, as your private keys are never exposed. Some popular digital wallets would include Coinbase.
- A paper wallet: Paper wallets are also a good option for storing coins, as they’re challenging to hack. You can print out a paper wallet offline and keep it in a safe place. Mycelium is one popular app that allows you to create paper wallets.
- An online exchange: Exchanges are another great way to store your coins. They allow you to easily trade them between different currencies and usually have relatively low fees. Some popular exchanges include Binance.
Reminders Before You Buy Shitcoins
1. Do Your Research
Before investing in any cryptocurrency, it’s essential to do your own research. This includes understanding the technology behind the coin, as well as its market potential.
2. Be Prepared for Volatility
Cryptocurrencies are highly volatile, and prices can change quickly. This means you could lose all your money if you invest in a shitcoin without being prepared for this risk.
3. Don’t Invest More than You’re Willing to Lose
Don’t forget – cryptocurrencies are still a gamble, and anything can happen. If you’re not prepared to lose your investment, then cryptocurrencies aren’t for you.
4. Don’t Spend Your Life Savings on One Coin
Although it may seem like an easy way to make quick money, investing all of your money in one cryptocurrency is risky and not a good marketing strategy. Only invest what you can afford to lose.
5. Be Aware of Scams
Be sure to only invest in shitcoins that you’ve fully understood. Many scammers could take advantage of these cryptos to deceive willing prey.
The Future of Shitcoins
The future of shitcoins is an exciting time for many investors and speculators alike. Decentralized exchanges aggregators allow for the trading of a variety of different cryptocurrencies without relying on centralized exchanges. This opens up opportunities for more people to invest in shitcoins and make money from their increased value.
Some of these aggregators are in development, and some have already launched. It allows users to trade various cryptocurrencies, including Shitcoins, with each other directly. The platform also has all the features that allow it to be used as a wallet, so users can store their coins there and use them as they please.
This type of platform will revolutionize the way that shitcoins are traded and invested in. It will make it much easier for people who want to invest in these assets to do so without having to rely on centralized exchanges. In addition, it will make it possible for more shitcoins to be traded on the market, leading to increased values for all cryptocurrencies included on the platform.
Final Thoughts
It’s been an eventful year for cryptocurrencies, and several coins have emerged as the best performers in 2023. This article has outlined our top 10 best shitcoins of the year based on their overall performance over the past 12 months. By investing in these coins early on, you can potentially reap big rewards down the road.
FAQs
Here are some commonly asked questions about shitcoins:
Is Shitcoin A Good Investment?
This depends on what you mean by good investment. The crypto market is very volatile. Even the most stable coins are prone to excessive highs and lows. By their definition, shitcoins offer little or no value to the market, which means they’re even more likely to experience massive gains and dips.
What is The Best Shitcoin?
Most investors would argue that the best shitcoin is Dogecoin, but the answer to this question depends on what you’re looking for. Do you want a new shitcoin that no one is invested in yet? Would you prefer to invest in a project that’s been around? Do your research because the best shitcoin won’t be the same for everyone.
Can Shitcoins Make You Rich?
Any cryptocurrency can make you rich if you time the market right and your investment go to the moon. However, those who manage to do so are the exception rather than the rule. Remember to only invest money that you’re comfortable losing. Yes, any of the shitcoins on our list can make you rich, but they could also bottom out and take all your money with them.
Is Dogecoin a Shitcoin?
Simply put, yes. Dogecoin is a cryptocurrency that doesn’t bring any value or functionality to the market. While it’s a very popular coin and ranks highly in regard to total market capitalization, this popularity is based mainly on celebrity endorsement and less on any value that it actually brings to the table.
