why is Meme Coin Popular
hello cryptocurrency friends, according to our discussion this time we will discuss meme coins. For those of you who have been in the cryptocurrency world for a long time, you must be familiar with this coin.
The first meme coin was popularized by DOGE Coin where this coin is supported by Elon Musk and even Elon Musk often tweets about the Doge coin and the result in early January Doge coin rose from the range of RP.123.00 to Rp.9,000 and from That’s where the meme coin is getting more and more popular.
For those of you who don’t know what a coin meme is, Mimin will explain it to you.
Meme coin is a token or coin inspired by jokes (memes) originating from the internet and social media. The first and most popular coin of this type in the crypto industry is Dogecoin, a crypto asset depicted with the Shiba Inu dog created in 2013. At first, the DOGE coin itself was created as a parody. Over time, Dogecoin has become one of the most successful crypto assets. ️
Since Doge Coin became popular, there are now a lot of other meme coins popping up and showing their fangs in the crypto market.
Most of these meme coins are spin-off forms of Dogecoin, although to date there is still no other token or meme coin that has achieved greater popularity than Dogecoin. In fact, based on data held by CoinMarketCap, there are more than 3,000 meme tokens and coins. Of course, this number will increase over time.
Often times, these meme tokens and coin options are seen as a joke. However, many investors believe that these coins should be treated like any other crypto asset. Many of these tokens or coins are starting to do quite well in the crypto asset trading market.
The reason Meme Coin is so popular and even some times the meme coin is trending on social media like twitter, is because there are so many fans and community of the coin. Besides being popular on social media, many people also speculate that if we invest in meme coins, apart from the relatively very cheap coin price, the possibility of it going up is very high.
Just compare if you invest in a stable coin then the probability of it going up is only a few percent whereas if you invest in a meme coin then the probability of it going up is very high imagine that the meme coin can go up to 1000% and even more just overnight.
Another reason for making meme coins more and more popular is because of the many supporters or influential people behind them.
For example, Doge Coin as described above is supported by Elon Musk and Shiba Inu who are famous for the Shiba Army community and many other examples.
Then what distinguishes meme coins from other crypto assets, for example, let’s make comparisons such as BTC, ETH, ADA, XRP and others.
I need to explain Meme coins are also part of Cryptocurrency but there are some big things that distinguish the two other crypto assets are the vision and mission or purpose of the coin being created.
Crypto assets such as Bitcoin and Ethereum were created and developed with the aim of being a solution to problems that occur in the real world. In addition, this crypto asset also aims to be widely accepted by businesses of all sizes, creating decentralized transactions and revolutionizing various industries, especially in the economic sector.
On the other hand, meme coins do not serve the same purpose as crypto assets in general, and are mostly created as a way to make quick money. Even some of them were created just for the purpose of a joke.
Some of these meme coins and tokens became famous and popular because they were promoted by celebrities and well-known personalities through their social media accounts, and retail investors have increased their prices by promoting them online. This is also the reason why coins and meme tokens tend to experience explosive growth despite shaky fundamentals.
“I always remind you my followers, if you want to invest in the cryptocurrency market especially in meme coin I suggest you don’t put all your USDT there. The reason I say that, meme coin has a very big risk compared to other stable coins. Besides meme coins are vulnerable to project scams, if you experience a market crash, the biggest drop is in the meme sector” .
