What Exactly Is a Meme Coin?

A Joke With Great Value

Meme coins have exploded so far since 2013 when the biggest example Doge coin entered the crypto market. After many social media apps like Instagram or Tik-Tok became popular and videos started spreading and getting viral some became famously called memes. Memes are well known to almost every person and it’s quite hard to miss. Because of this a jokingly decision started with putting out a kind of crypto currency on the market called meme coin. A joke with great value in that way it’s become just as popular as the meme itself.

Creating a New Kind of Meme​

In 2013 the internet phenomenon called the Doge meme, based on a Japanese Shiba Inu breed dog, where the dog would be displayed with a comic sans text explaining what the dog was thinking. A programmer called Billy Markus thought of the idea of making a kind of cryptocurrency out of this meme. The main idea and focus of the coin was to attract investors attention from bitcoin to the meme coin instead. Adobe´s Jackson Palmer created the website dogecoin.com and when Markus happened to stumble upon the site they both worked together to start the cryptocurrency that we now know as the doge coin. Now there are many more meme coins such as Shiba Inu, Dogelon Mars and Akita Inu.

Stability and Unstability

Meme coins can be very profitable considering the popularity around the meme itself. The more hype of something the more demanding the investors will be and the more profit you can take out of it. But it can also be very volatile as well since the market is based on demands from the investors themselves. So it can be quite risky to invest in something that is based on popularity instead of the other crypto that have backlinks. For example when the Netflix series Squid game was released it was a hit all around the world and in it´s fame a new coin was launched called SQUID. But almost before it even started the show’s popularity sank and so did the Squid coins, by having their prices plummet with 99%. Since it’s all technically just based on hype the prices can also swing very fast in a short period of time.

Will It Ever Lose It´s Value?

It’s all really just a joke which has spawned more jokes coming from what is popular at the time. Many more memes are created everyday and perhaps they manage to appeal to the whole internet community which can create a new kind of cryptocurrency. There is now way to see where it’s going since it’s not really a serious kind of market. A joke with value now might not have that in a couple of months but some jokes will always be funny and never lose value.