Meme Coins

The crypto world will have discovered something very intriguing. Memes abound in the marketplace. These meme tags have been converted into anonymous money, and it appears that people are buying from them! You’ll be able to get your hands on it. Continue reading to learn more. Meme Coins

What Are Meme Coins, Exactly?

Meme coins are cryptocurrencies (i.e. memes) that are promoted through jokes on the internet and social media. Dogecoin, the first and most popular cryptocurrency of this type, was created in 2013. DOGE began as a joke, but it has since evolved into a useful cryptocurrency. Meme Coins

The majority of the time, these crypto options are thought to be a joke. Many of these meme tokens have performed well in the cryptocurrency market, and some people have already made significant profits with them. The only difference between meme coins and “appropriate” crypto options like Bitcoin and Ethereum is that the latter was designed to solve real-world problems and can thus be used in the real world.

Meme Money Growth

Meme coins had skyrocketed in value and variety by 2021. Following the success of Dogecoin and the increasing popularity of cryptocurrency in general, the market for meme coins is expanding. Their celebrity is directly proportional to their interactions with social media influencers and celebrities. Because these individuals are paid to advertise with coins, public interest in them is rapidly growing. Many people credit Elon Musk, a staunch supporter of DOGE, for the rise of meme coins.

We can all describe over 90 meme tokens because there are so many of them! However, we’ll give you a quick rundown of some of the most popular cryptocurrency memes below. Meme Coins

How to Buy Meme Coins

Popular Meme tokens

Purchasing meme coins is similar to purchasing any other cryptocurrency. The first step is to create an account on the exchange platform and purchase coins using fiat currency (or trade them with other cryptocurrencies). Meme coins can be found on a variety of exchange platforms.

Dogecoin (DOGE)

This is the most popular meme coin to date, based on a Japanese dog meme known as Shiba Inu. It was founded in 2013 by two software developers and has received backing from celebrities such as Elon Musk.

Safemoon debuted in March of 2021. It is entirely run by the government. Safemoon coins are unique in that they have a feature built into their protocol that reduces the sale of their native tokens.

Shiba Inu (SHIB)

Safemoon (SAFEMOON)

The protest took place in April of 2021. Shiba Inu was created as an “automatic social construction test,” according to the official website. It should not be confused with DOGE, as the two coins are completely different.

MonaCoin (MONA)

MONA is based on an invitation from a mysterious engineer who dressed up as a cat. The Japanese Financial Service Agency has approved the token, which has a maximum of 105 million offers.

HogeFinance (HOGE)

HOGE hopes to use ETH’s DeFi infrastructure to combine crop farming and memes.

There is a slew of other cryptocurrency meme tokens that we haven’t mentioned. Pepe Cash, Loser Coin, Memecoin, Forge Finance, and others are among them.

What are the Downsides of a Meme Token?

There is something wrong with meme tokens, just as there is with anything else. For example, many meme coins serve no real purpose. Unlike cryptos like Bitcoin, which have limited offers, some meme coins have unlimited offers. Their long-term value will suffer as a result of this.

Because so many of these tokens are “jokes,” they tend to be extremely adaptable.

Before you decide to invest in these cryptocurrencies, keep this in mind.

According to Tad Park, CEO of crypto investment firm Volt Equity, the Shiba coin was “a joke, a meme.” However, the difficult trade pushed the ninth-largest cryptocurrency to a total value of more than $ 37 billion, more than $ 36 billion more than dogecoin, which had dropped to $ 10 billion. Meme Coins

Dogecoin Killer

According to its creator, Ryoshi, it was an impressive token meeting launched last year solely as a “dogecoin killer.”

While it did not “kill” dogecoin, Jesse Proudman, CEO of crypto Robo Makara, told Protocol that the Shiba currency has exploded in popularity “largely due to public-driven price awareness.” It’s a good illustration of how these markets operate once more.” Meme Coins

Dogecoin still has the upper hand in terms of widespread acceptance. As the brand grew in popularity, Robinhood, Coinbase, and SoFi made trading dogecoin possible. Members of online brokerage online.com now have access to Shiba currency. It has not yet joined the Shiba team. Part of the reason appears to be a desire to avoid drawing the attention of regulators, who are already looking into allegations that Robinhood turned to invest into a game and have been critical of the crypto industry as a whole.

According to Tad Park, CEO of crypto investment firm Volt Equity, the Shiba coin was “a joke, a meme.” However, the difficult trade pushed the ninth-largest cryptocurrency to a total value of more than $ 37 billion, more than $ 36 billion more than dogecoin, which had dropped to $ 10 billion. Meme Coins

CEO of crypto Robo Makara

According to its creator, Ryoshi, it was an impressive token meeting launched last year solely as a “dogecoin killer.” While it did not “kill” dogecoin, Jesse Proudman, CEO of crypto Robo Makara, told Protocol that the Shiba currency has exploded in popularity “largely due to public-driven price awareness.” It’s a good illustration of how these markets operate once more.” Dogecoin still has the upper hand in terms of widespread acceptance. As the brand grew in popularity, Robinhood, Coinbase, and SoFi made trading dogecoin possible. method, an online brokerage firm, announced that it had made Shiba currency available to its customers.

We’re a regulated company, and we’re hoping to get some clarity on coins soon.”

That should be disappointing for a company that was once closely associated with Reddit’s WallStreetBets. According to Park, Shiba’s coin has ridden the same wave of contempt, which has become a key factor in the crypto revolution and has aided the rise of dogecoin. The Shiba Inu army is still going strong. More than 470,000 people have signed a petition to add Shiba currency to Robinhood.

“The consensus on Robinhood is putting a lot of pressure on the company,” Chris Kline, founder, and CEO of Bitcoin IRA told Protocol. “I believe there will be a greater acceptance of the token itself on those platforms. Launched last month, the squid character is growing rapidly, fueled by discussions on social media. But on Monday, the token price dropped from an estimated $ 2,860 to zero after the coin c.

Final thoughts

What may start out as a joke is no longer funny. Whether you jump on the bandwagon is also entirely up to you, remember to keep all the facts in mind.

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