Meme Coins:
Meme coins often lacking in any real underlying value have gained significant popularity
- These are a unique category of cryptocurrencies, have gained significant popularity in the digital currency space.
- These trace their origin to the growth of meme culture on the internet.
- These are also known as ‘memetic tokens’ or ‘community coins’, meme coins are digital currencies created as a form of satire or humorous tribute to the internet culture.
- They often feature names, logos and branding that reference popular memes, jokes or internet phenomena.
- These are highly volatile in nature, subject to extreme changes in value over short periods, driven by the current buzz surrounding the token.
- They typically have a massive or uncapped supply, leading to very low values per token.
- These coins leverage blockchain technology, often utilising smart contracts on platforms like Ethereum and Solana.
- Creating a meme coin is relatively easy compared to traditional cryptocurrencies.
- With the proliferation of blockchain platforms and decentralized finance (DeFi) tools, virtually anyone can launch a meme coin with minimal technical expertise and resources.
- These coins are primarily driven by speculation and community engagement, lacking fundamental value or unique use cases.
- Also, the prices of meme coins can experience rapid fluctuations, making them risky investments.
