Meme Coins is an another type of cryptocurrencies inspired by jokes and parody on the internet. The first meme coin was created is $DOGE (Dogecoin).
Meme coins are mainly driven by trends and community power and carry a relatively high risk. The popular trend may disappear overnight, if a new more interesting meme comes up.
- How different between Meme Coins and other cryptocurrencies ?
The purpose of $BTC or $ETH was created with new technologies, new ideas and accepted solutions to real-world currency problems. Meme Coins wasn’t created with a serious purpose, because most of them are caused by online jokes.
The value of the meme coin is based on the FOMO generated by some of the world’s most influential people holding meme coins. This make small investors become alert and invest according to the trend. As a result, the price of meme coins can skyrocket in just a few hours. Therefore, meme coins are suitable for investors who like to make quick profits.
- Successful Meme Coins
- $DOGE (Dogecoin)
- $DOGE was born from Shiba Inu a popular online meme and there is no peak supply. $DOGE being the most successful meme coin to date, because it was promoted by Elon Musk and other influential people.
2. $SHIB (Shiba Inu)
- $SHIB is suspected to be created to rival $DOGE. $SHIB has a maximum supply of $1 billion and 50% being burned to circulate supply. Including supporting arts and games to maintain value.
3. $SAMO (Samoyedcoin)
- $SAMO is another meme coin with the dog family to watch out for. It has grown over 4000% shortly after launch. Due to interesting supply planning such as airdrop distribution, burn mechanism, NFT creation to add value etc.
Meme Coins are popular overnight profitable coins, but they are still very risky. Therefore, investors should study and follow the news before investing in meme coins.
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