All You Need To Know About Crypto Meme Coins
What is a meme coin?
A meme coin is a cryptocurrency based on a meme and often gets created as a form of a joke. It also refers to a unit of such crypto.
The most well-known meme coin is the Dogecoin, based on the Doge meme. But there are many others as well.
People who trade these coins usually get involved just to be a part of the joke. But sometimes, investments in such coins can cause their prices to rise because of their popularity. Cryptocurrencies are volatile, as their prices change frequently. Of which, meme coins are considered the most volatile.
Top Meme Coins in the Market
- Dogecoin (DOGE)
Dogecoin is an open-source cryptocurrency that is based on the Doge meme. It has a Shiba Inu dog as its logo. In December 2013, the coin got launched and has recently gained a lot of popularity.
Dogecoin has the same technology behind its proof-of-work as that of Litecoin. Some features of Dogecoin are unlimited supply and its low price.
- Shiba Inu (SHIB)
Shiba Inu is an Ethereum-based altcoin. The supporters of Shiba Inu, referred to as the SHIBArmy, consider it to be “the Dogecoin killer”. In August 2020, someone under the pseudonym of Ryoshi launched the coin.
Recently, in October, there was a tremendous surge in the price of Shiba Inu. A tweet from Elon Musk earlier that month sparked the price.
On the official website, they refer to the white paper of Shiba Inu as “woof paper”.
- Dogelon Mars (ELON)
This is a meme coin based on another meme coin, Dogecoin and Tesla CEO, Elon Musk. In 2021, the price of this coin has spiked, and some believe it will see even more of a hike. But as the name mentions, will the price of ELON make it to Mars?
Dogelon Mars is built on Ethereum, but it also adds its unique features to the token. One of the features is tokenomics. The project has its community of investors on Twitter and Telegram.
Final Thoughts
Meme coins are usually not considered a serious source of investment. They are created from a meme or as a form of a joke and are highly volatile. Just as their prices could experience a tremendous surge due to popularity, they could also very quickly see a downfall.
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