From Jokes to Giants — The Rise of Meme Coins in Cryptocurrency Culture

The rise of the crypto world changed international payments and introduced a new reality to the world community. The popularity of Bitcoin was so high that the industry has observed a surge in token creation in just several decades. Nowadays, the list of assets totals dozens, offering diverse solutions for investments.

A new type of asset, called meme coins, has recently appeared in the crypto world. Shiba Inu and Dogecoin come as the brightest examples of top meme coins. They appeared as a response to viral marketing in social media. In the article, we’re going to consider whether meme coins are worth investing in and related questions. Our experts will delve into the issue of existing risks and explain the specifics of the market caps of such assets.

The Essence of Meme Coins

A meme coin is a kind of cryptocurrency, the popularity (that is, the market cap) of which depends on Internet memes and viral marketing on social networks. Initially, they were created just for fun, without implying any function. However, they evolved into a significant financial phenomenon within the cryptocurrency universe.

While popular meme coins were developed as jokes to entertain users of social networks, nowadays, they are used as financial tools for investments. Having been introduced as funny jokes with playful beginnings, memes evolved into trading units and gained their current status as legitimate assets with substantial market capitalization.

TOP Popular Meme Coins

Dogecoin, Shiba Inu, and PEPE stand as top memes tokens by market capitalization. They are found in the list of the best crypto memes.

DOGE was the first coin developed on the basis of an Internet meme in 2013. The popularity and distribution of the joke lead into coin for meme currency. Unlike traditional cryptocurrencies like Bitcoin and Ethereum, crypto meme coins are not limited by emission and do not possess internal value. The mar cap of such assets is determined by the demand for such funny crypto memes among Internet users. This feature raises volatility, making the coin a risky asset for investment.

Top Meme Coins with Highest Social Performance

Shiba Inu takes the second place in the list of trending meme coins. It was developed by an anonymous user with the Rioshi nickname, who set the purpose to overcome Dogecoin by popularity. This meme currency has its own SHIP ecosystem that encompasses a decentralized system ShibaSwap, a Woofpaper for investors, and a token burning system.

Another crypto meme was released on the market in 2021. The Pepe Frog was a prototype for this token. The token functions on the Binance Smart Chain platform, which ensures quick processing and low commissions. Meme popularity led the coin to the market cap of $1 billion.

Pros and Cons of Meme Coins

To realize whether meme tokens are worthy assets for investments, it’s necessary to know their advantages and drawbacks. Let’s list the strengths and weaknesses of such tokens:

1. Community engagement. Investors feel a strong sense of unity and community which contributes to the creation of collective identity among them. As a result, high engagement drives market dynamics.
2. Viral marketing. Tokens are based on memes that are widely popular among Web users, which increases their recognition. Being within public interest constantly leads to widespread adoption and high interest from the investors’ side. This tendency results in embracing a wide audience of potential investors and a higher demand for the meme token, which eventually affects the market cap.
3. Innovation and experimentation. The development of a new memecoin leads to the integration of innovative blockchain solutions and high-tech experiments. Thus, by introducing a new token, the whole infrastructure appears within the crypto landscape, which provides extra opportunities for both users and investors.
4. Accessibility. Meme tokens usually serve as an entry point for newbies who want to discover the crypto space. Relatable themes and a low barrier to entry come as excellent breeds to explore the crypto landscape and make the first steps in the digital environment.

However, consider possible shortcomings, such as high volatility and low stability. Since the price is based on meme popularity, it tends to change its value frequently. For instance, the mention of Doge in Ilon Mask’s Twitter caused the price surge. The Internet community switches quickly, meaning that first memes replace another. It’s a significant drawback for investors who usually seek stability.

How to Acquire Meme Coins?

Although this sphere is quite dynamic and risky, investors put their money into such assets, expecting price growth. Here are the main methods to acquire existing and upcoming meme coins:

1. Centralized crypto exchanges, like Binance, KuCoin, and OKX. These are certified platforms with a wide range of meme coins for purchase. Documentation and verification are mandatory.
2. Decentralized exchanges, like PancakeSwap and Uniswap. Investors can acquire meme coins for other tokens on such platforms.
3. P2P platforms, like Bitzlato and LocalCryptos. They are designed for the direct exchange of fiat assets or stable coins between traders.

The modern crypto domain offers enough options for investing in meme coins. The main thing is to check platform reliability, trustworthiness, and reputation.

🚀 Meme coins FLOKI and LADYS have seen an impressive surge over the last month! Interestingly, both were recently added to DWF Labs liquid markets.

Tips on How to Participate in Meme Coin Trading

Finally, let’s list the best practices to get enrolled in this industry. Make sure to keep in mind the following tips:

1. Do a thorough research of the domain to identify the most profitable coins and assess their profitability levels.
2. Understand the risks of volatility. As mentioned above, meme coins are highly volatile. Take measures to minimize risks and allocate funds wisely.
3. Engage with the community to stay informed about developments and opportunities in the meme coin space. Read articles, chat with other investors, and keep track of the latest innovations.

Now you can not only answer the question ‘What is the Doge on Twitter?’, but also find a suitable investing instrument and develop a trading strategy. The modern crypto space provides a wide range of tools and tokens for investments. Meme coins come as a popular method to improve your financial position. Although risky, they attract investors.