Ever since the advent of Bitcoin in the latter half of 2012, the idea behind a digital currency has become incredibly popular to investors as more and more people get interested in cryptocurrency.
As one would expect, this phenomenon has driven large corporations and even individuals to create and release all sorts of cryptocurrencies in the market. The reasoning behind this is to serve as a way for people to send money over the internet. But amongst these cryptocurrencies, certain coins were inspired not by this reasoning but by social media jokes or puns. These are called meme coins.
What are meme coins?
As the name suggests, meme coins are cryptocurrencies inspired by memes, which are popular ideas or thoughts spread via the internet, usually in the form of multimedia (e.g., photos, videos, GIFs, etc.). For example, there is the Doge meme on the internet, a 2013 meme consisting of an image of a Shiba Inu that is often used to tell different types of jokes.
While the origins of these coins may have been jokes, their presence on the financial market isn’t. Dogecoin may interest you as it’s currently ranked number 13 with a market cap of 21 billion dollars. As an alternative to Dogecoin, you may also want to buy Shiba Inu Australia. This meme coin has a relatively high market cap of 16 billion dollars.
How are meme coins different from normal cryptos?
It’s important to note that while meme coins are essentially…
