What Are Meme Coins? An Overview of the Trend in Cryptocurrency
Meme coins are more of a group thing and inspired largely by internet memes and popular culture. Unlike Bitcoin or Ethereum, which are widely accepted because of what they do in solving particular problems or utility, meme coins usually do not have a strong basis on technology and no real-world usage. Instead, a rather exciting speculative aspect of the cryptocurrency world is the strong community enthusiasm that creates it, the trends that are evolving online, and the power of social media hype.
Dogecoin has always been linked to memes since its creation as a crypto coined after a 2013 joke about the popular "Doge" meme. Even with the humor in the inception, it has come to gain serious traction, especially in the wake of endorsements by such big names as Elon Musk guiding its path to success. As a result, many other memes like actual Shiba Inu and Floki Inu have come up.
Meme coins had shown how the culture of the internet drives such financial trendlines-but investors view them as specious and put them in the same category as short-term investors because they have no intrinsic value as hedge instruments. It is the Mr. Hyde to the lighter side in cryptocurrency-the humorous meme coin-making fun of fun.
Not only meme coins in reference to the frivolous side of cryptocurrency, but they also play a role in ways that challenge the viability and seriousness of cryptocurrency in the trading of such assets. As digital assets-more of them come into play, the market remains very thin on speculators. Hence, it also calls for access to thorough information before any investment.
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I think meme coins don't have the hype they used to. All the new coins that are coming out now basically have hype for a few days and then it's gone.