What Are Meme Coins?
Meme coins are a form of cryptocurrency inspired by memes, jokes, and interesting or funny ideas in an image or video medium. The first meme coin created was Dogecoin (DOGE).
Similar to other forms of cryptocurrencies and digital assets, meme coins use blockchain technology as their foundation. However, in comparison with major cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH), meme coins tend to exhibit higher-than-normal volatility. This is largely due to their susceptibility to social media influence and online community sentiments.
Meme coins are often traded or collected by those who want to be a part of the joke. But they can also rise sharply in price in accordance with their popularity, making them a potential value prop. Examples of the most popular meme coins: Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), Floki (FLOKI), and Samoyedcoin (SAMO).
