What Is Meme Coin? Understanding And Exploring the Rise and Risks
A Comprehensive Guide to Meme Coins: Exploring the Rise of Memetic Cryptocurrencies and Their Implications
By reading the article “What is meme coin?” Published in Adaas Capital, you are generally introduced to the concept of MEME coin in the cryptocurrency market and its usage. This level of familiarity can be enough when you need educational information about this topic.
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Table of Contents
What is the Meme Coin or Joke Coin?
Cryptocurrencies fall into different categories, such as NFT tokens, Layer 2 Solutions, oracles, and governance tokens, including the categories available in the cryptocurrency market!
One of the new categories that will be considered by traders and investors in the cryptocurrency market is Meme coins. To begin with, we need to understand what joke coins mean!
What does the term MEME mean?
The standard definition of MEME from Wikipedia is as follows:
Memes are ideas and concepts that spread from person to person by sharing online. Memes can be images, videos, and even words and phrases.
What is the most important feature of memes?
Memes spread very quickly and virally and are very effective in changing the prevailing culture or atmosphere! Therefore, the concepts that are spread through memes are highly regarded by the general public.
What are MEME COINS in the cryptocurrency market?
We are sure that by now you are fully acquainted with the concept of MEME COIN. For more information on how to create and operate these cryptocurrencies!
Most of the time, memes are not a big goal or a good solution to any problem, and their presence is mostly a joke and a hobby. As everyone knows the Dogecoin cryptocurrency, they have noticed the difference between it and Ethereum or Bitcoin. The rest of the memes are exactly the same as the Dogecoin cryptocurrency and have the same nature!
Important note about Meme coins!
The biggest thing to keep in mind about Meme coins is the lack of technology-based value, or rather the inherent lack of value of these assets!
What are the reasons for the price increase of Meme coins?
Due to the low price and low market volume, based on erroneous analyzes, high price growth targets are predicted for them! the risk of investing in this category of assets is much higher than in valuable cryptocurrencies.
Sometimes some of these memes, such as Dogecoin, are used by celebrities for Internet jokes, which also leads to irrational growth in the price of assets.
Upward market fluctuations have a positive effect on most assets.
And one of the important reasons for the price change is the viral nature and change of thinking of these memes in society.
When these assets are not valued by the technology and solutions provided to solve the problem, the price of these assets fluctuates according to the existing demand quantity factor.
Need a guide to find popular meme coins? Click Here!
How To find trending meme coins?
Meme coins first became popular on social media. For example, Dogecoin or Shiba Inu cryptocurrencies have become quite popular through the messages of Elon Musk, a well-known figure in the world of technology, and more recently cryptocurrencies. But sometimes some meme coins also reach the top of the price growth table without a trace on social media!
To research and study these meme coins, use the following link, which is one of the parts of the famous Coin Market Cap site!
Which exchanges are suitable for buying Meme coins?
One of the biggest problems people face when buying meme coins is not finding an exchange to buy them. The solution to this problem is to use the CoinMarketCap site. To find an exchange, first, enter the desired cryptocurrency profile on the CoinMarketCap site, then go to the Market section! In this section, the names of the exchange offices offering meme coin will be displayed for you!
Meme coins at the beginning of the route are generally not found in well-known exchanges such as Binance and should be sought in decentralized exchanges! Of course, buying from unreliable centralized exchanges is just as dangerous as buying the wrong token at a decentralized exchange.
How to choose the best exchange to buy meme coins? (EDUCATIONAL PURPOSES ONLY!)
The best exchange offices are well-known exchange offices that you have had experience working with and you have not had any problems! But in general, if you have encountered a lot of problems in the list of exchange offices offering meme coins with unconventional names, and especially with new platforms and many problems, do not buy to save money.
LIST OF VALID DECENTRALIZED EXCHANGES >
List of valid Centralized Exchanges >
The end words
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References
FAQ
What is the meme coin?
Meme coins are cryptocurrencies created for fun. These assets do not have any special innovation and they can not solve any problem.
What is the best source to find trending Meme coins?
Click on the link below to find the types of meme coins:
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