While bloodbath continues in the crypto trading space, crypto ICOs offer a safe haven with their unique offerings that combine memes and use cases. One such project that has gained a lot of attention recently is Meme Index.
As the world’s first decentralized index, Meme Index offers meme coin investment diversification within a decentralized space. Core to this ecosystem is the MEMEX token, which has raised over $3.9 million to date.
As investors are flooding in and top publications like The Economic Times have already gotten wind of this project, focus is high on what this cryptocurrency project could do in the long run. Can investors use it to hedge their bets against the current market’s volatility?
Meme Index and the Promise of Multi-Meme Coin Investment
As the most volatile asset class, meme coins also happen to be the most rewarding. But picking the right moments is important and so is finding the right crypto.
However, because meme coins don’t follow traditional fundamentals, their value goes up or down depending on the strength of the community, market conditions and some factors that couldn’t be easily measured.
Therefore, one of the best ways to invest in meme coins is through asset diversification, which is the promise of Meme Index.
Whereas traditional ways of investing in multiple meme indices will force people to deal with research and transaction overhead, Meme Index offers a way to directly invest in multiple assets through indices.
Each index is akin to a basket of meme coins, and investing in this basket will allow investors to invest in multiple meme coins. This approach, made popular when VanEck launched its first MEMECOIN index, is very optimal. However, Meme Index introduces this into a decentralized arena.
Essentially, users will be able to choose between multiple indices based on their risk appetite. Furthermore, with the index governance decentralized, index rebalancing won’t be solely dependent on technical indicators.
Thanks to MEMEX, the native crypto of the Meme Index ecosystem, users will have governance power to decide which meme coin to add and which to remove from the meme coin indices.
As a result:
- Meme coin diversification is made easy, and
- Investments become more accessible
From Highly Volatile Assets to Highly Popular Ones – Meme Index’s 4 Meme Coin Indices
While the centralized approach to meme coin index focuses on one type of meme coins – the popular ones – Meme Index’s approach is more diverse thanks to four different types of indices with different levels of volatility.
Meme Titan Index
Meme Titan Index is the first type of meme coin index. Containing top meme coins such as Dogecoin, Shiba Inu, Pepe and other high-cap assets, this index is for those who want to pick only the most popular memes due to the relative level of safety they provide.
Meme Moonshot Index
The second type of meme coin index that Meme Index offers is the Meme Moonshot Index. This index contains assets that have just fallen short of being the top meme coin picks. However, these tokens have a strong community that could help topple the top meme coins at any time.
Meme Midcap Index
Mid-cap tokens with market capitalization ranging between $50 million to $250 million are part of this meme coin index. Highly volatile, these assets can potentially lead to high levels of gains for intraday traders.
Meme Frenzy Index
The final type of meme coin index provided by Meme Index is Meme Frenzy Index. It is degen specific and consists of the most volatile meme coins on the market. These are specifically not meant for beginners as the platform clearly states that degens should be the only ones to entertain it.
Meme Index Raises Over $3.8 Million – Is it a Good Buy?
The use cases that Meme Index is able to deliver have helped it raise over $3.8 million to date. However, while the use cases are appealing, so are the memes as the official Twitter account of the platform is full of them.
Furthermore, most prominent YouTubers have discussed the project with a positive tone, showcasing the robustness of the project and its appeal as a utility-focused meme coin.
ClayBro has also stated that it could provide the best meme coin portfolio as meme coins bounce off the bottom.
Due to these unique attributes, Meme Index could be considered a high potential project. And with it raising over $3.8 million, the ending date for the presale is coming close.
