What Exactly Is A Meme Coin?
To put it simply, meme coins are tokens inspired by internet memes. However, if the newest token names are any indication, the trend seems to have shifted toward a mix of an old Shiba Inu dog meme and, to a lesser degree, Elon Musk.
Without a question, meme coins are one of the oddest things to emerge from the bitcoin industry. The trend began with Dogecoin and began as a joke. Back in 2013, there was a lot of excitement around the cryptocurrency business, as Bitcoin had already created the first crypto billionaires. Dogecoin was founded as a parody of the wild speculation that surrounded the cryptocurrency sector at the time by software programmers Billy Markus and Jackson Palmer.
Despite its origins as a mockery of established players, Dogecoin has grown to become a household brand in the sector, pushing its way into the top 10 tokens in terms of market valuation at one time.
Additionally, a plethora of additional meme currencies have entered the market, and some, such as Shiba Inu and Safemoon, have made an impression. There are around 250 meme coins in circulation at the time of writing.
In 2021, Meme Coins
The meme coin phenomena as we know it now began in 2021. Despite its 2013 inception, Dogecoin garnered little notice until a purchasing frenzy sent its price up over 800 percent in…
