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Home Cryptocurrency How to trade and make money on Meme Coins? What Is Meme Coin?

How to trade and make money on Meme Coins? What Is Meme Coin?

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Meme Coins

In the ever-evolving realm of cryptocurrency, amidst the intrigue of investors, emerges a peculiar entity stealing the limelight: Meme Coin. These distinct tokens have ensnared the fascination of both investors and enthusiasts, defying conventional norms with their high-risk demeanor and a conspicuous absence of traditional functionality.

It’s almost surreal to fathom that a cryptocurrency born out of jest can amass billions in market capitalization, yet such is the bizarre reality we find ourselves immersed in. Meme Coins have transcended mere ephemeral trends, showcasing resilience and, in some instances, surpassing their ostensibly more serious counterparts in performance.

But what exactly defines a meme coin, and which ones are leaving an indelible mark in the landscape of 2023? Within the confines of this article, we embark on an expedition into the whimsical realm of meme coins, unraveling the intricacies vital for informed investment decisions. From the prevailing memecoins of the current zeitgeist to the perils and prizes inherent in this idiosyncratic investment avenue, consider this your comprehensive guide. So fasten your seatbelts and brace yourself for a journey into the untamed expanse of memecoins!

What is Meme Coin?

Meme Coin, a quirky variant of cryptocurrency, draws inspiration from the ebb and flow of trending and viral memes. Crafted predominantly for amusement, these coins bear no practical utility or inherent value. Their essence lies in the realm of humor and satire, resonating with the idiosyncrasies of the crypto community.

Distinguished by their whimsical or satirical attributes, meme coins boast distinctive names, logos, and branding that echo the resonance of internet memes, celebrity culture, or societal references. Take, for instance, the renowned meme coins like Dogecoin and Shiba Inu Coin (SHIB), adorned with the image of a Shiba Inu dog as their emblem.

In stark contrast to conventional cryptocurrencies such as Bitcoin or Ethereum, designed for utilitarian purposes like facilitating exchanges or storing value, meme coins exist primarily as conduits for generating fervor and speculation. Their nomenclature, logos, and branding echo the zeitgeist, drawing inspiration from internet memes, celebrity personas, or cultural phenomena.

The Story of Meme Coin

Ah, the genesis of memecoin unfolds much like the inception of a well-crafted jest – it all traces back to a meme! Cast your mind back to 2013 when a duo of software developers whimsically birthed a cryptocurrency inspired by the internet’s darling, the Shiba Inu dog. Enter Dogecoin, a moniker chosen for its sheer, unbridled whimsy.

Despite its comedic roots, Dogecoin amassed an ardent following, and its valuation soared to unprecedented heights. Picture it as the quintessential tale of ascending from jesting obscurity to pecuniary opulence, where the jest was a lighthearted internet meme, and the opulence? Well, it was, quite literally, opulence.

The triumph of Dogecoin fueled a veritable frenzy, prompting others to leap onto the memecoin bandwagon, concocting digital currencies anchored in everything from felines to nods to popular culture. It’s a veritable Wild West in the cryptocurrency frontier, with new memecoins sprouting up quicker than one can utter the mantra of “HODL.”

Yet, let’s not deceive ourselves; delving into the realm of memecoin investments is akin to forecasting life – an unpredictable journey. It’s all jollity and amusement until your investment portfolio plummets with the swiftness of a cat taking an unceremonious tumble from a windowsill.

So, if the notion of investing in memecoins tickles your fancy, bear in mind to retain a robust sense of humor. Because when it boils down to it, if you can’t chuckle at yourself for wagering on a coin birthed from the image of a dog, what else in this cryptic world can elicit a hearty laugh?

In the unfolding narrative of 2023, a crop of memecoins is poised to ascend the echelons of popularity and market expansion, captivating the discerning gaze of investors. Let’s delve into the top 5 memecoins that are anticipated to spearhead this trend, seizing the limelight:

  1. DogeCoin
    Unwavering in its perennial dominance, Dogecoin is set to once again claim the pinnacle of the meme coin hierarchy. Fueled by an expansive fan base and the influential backing of the affluent Elon Musk, Dogecoin resiliently maintains a staggering $10 billion market cap. Despite the tumultuous crypto market of the past year, Dogecoin stands tall as the 8th largest cryptocurrency globally, reigning supreme as the foremost memecoin of 2023.
  2. Shiba Inu
    Dubbed the “Dogecoin Killer,” Shiba Inu emerges as a memecoin designed to outshine its canine-inspired predecessor. Progressing steadily towards its intended goal, Shiba Inu currently holds the second position with an impressive market cap of nearly $6 billion, securing its place as the 15th largest cryptocurrency on the global stage.
  3. Floki
    Floki Coin distinguishes itself as a memecoin with more than just frivolous intentions. Beyond its memetic allure, Floki boasts an advanced system replete with features such as a 3D NFT metaverse, decentralized finance tools, a cryptocurrency learning platform, non-fungible tokens, a merchandise store, and more. As of the latest assessment, Floki commands a market cap of $419 million, showcasing its exceptional utility in the memecoin realm.
  4. Pepe Coin
    Embarking on the scene with a fresh and vibrant appeal, Pepe Coin draws inspiration from the iconic Pepe the Frog memes. In a remarkable feat, this memecoin has witnessed exponential growth, surging by around 2000% in less than a month post-launch. With its whimsical slogan proclaiming that “the dogs have had their days,” Pepe Coin secures a commendable third place in the roster of the largest memecoins.
  5. Baby Doge
    Born in June 2021 as a sprightly spin-off of the venerable Dogecoin, Baby DogeCoin positions itself as a playful and entertaining investment opportunity. Featuring the Shiba Inu dog as its mascot, akin to its predecessor, Baby DogeCoin underscores its commitment to community engagement. The creators have woven a strong community focus into the coin’s fabric, with a percentage of each transaction fee reverting back to the holders, adding a unique twist to this memecoin narrative.

Meme coin Choice

Meme coins are specifically about marketing, hype, and definitely a game-changer. Technology is secondary in their world. It’s interesting how saturated each one is with events and narratives from different corners of the cryptocommunity.

However, it always takes a powerful catalyst to effectively engage with this world:

  1. LUNC (Lunar Cat Coin) – This is a memecoin where burning tokens and returning to the $1 price serves as a powerful psychological stimulus. It’s interesting how hamsters react to an asset that was once worth $100 and is now available at 0.000001. Burning adds a spectacular element of hype.
  2. BONK – Here the “Make Solana Great Again” meme has become the centerpiece of discussion in the SOL community. Token burning and eirdrops act as triggers to amplify the hype. Apparently, this is a successful formula in creating excitement around the memecoin.
  3. BOLT – This memcoin launched on Toncoin and made x3 in just overnight. Its success is not only due to an active community, but also to the growth of altcoins on Toncoin. Apparently, the catalyst in the form of altcoin growth is strongly influencing interest in memcoin.

The advice “don’t invest more than 1-2% of your deposit” sounds reasonable. This is a kind of high-risk casino and it is important to remain financially cautious when interacting with the memcoin world.

Meme coin fixation

Develop a plan where you always take the deposit body after x2-x3 and sit with free coins from there. Otherwise you will get into euphoria.

Think about fixing if memcoin is leafed to the top exchanges. This is the event under which the big players unload. The asset may grow another 2-3 times, but usually a listing means an imminent dump.

If the entire infopole is discussing meme coin – it’s overheated and it’s time to lock in. The thermometer of overheating is different everywhere, usually it’s Twitter trends with the tag of the coin and very active PR on Telegram channels.

If you’ve recorded a profit, take it out. No need to re-enter meme coin.

Token made x10? Look for another opportunity. Or wait until there is a small pullback and go to $10-$50 for fun. Suddenly there will be DOGE 2.0.

Meme coin Tips

Specific tokens are hard to pinpoint. Keep an eye on the sectors where they may appear:

Tokens on Toncoin. It already has its own BOLT meme there, but recently did x2, and is overheated for now.
AI (artificial intelligence) trend. there could be a lot of catalysts for growth here.
Memes in the Aptos ecosystem. This is SOL 2.0 for many and is also growing rapidly.

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