Meme Coins: What Are Meme Coins? And Should You Invest in Meme Coins?

Meme coins are often highly volatile because of the community-driven aspect of the tokens. It’s difficult to predict how the token is going to do, as generally, traders are more than willing to abandon a coin at a moment’s notice if they feel that it is no longer profitable.

Dog-themed meme coins saw exponential growth in 2021. In November of that year, the most popular breeds were Dogecoin and the rival Shiba Inu.

Crypto markets exploded this year with the introduction of meme coins. Dogecoin and Shiba Inu led the pack as they increased exponentially in price. As of November 2021, DOGE has gained 8,000% since January and SHIB has increased more than 60,000%.

What are Meme Coins?

Meme coins are a form of cryptocurrency that is inspired by jokes or memes on the Internet and social media. The first meme coin was Dogecoin (DOGE) which, in 2013, as a parody of the popular doge meme, focuses on a Japanese Shiba Inu dog.

The prices of meme coins can change significantly and unexpectedly. These coins provide a way for individuals to support specific causes as well as take part in community-driven discussions of the latest memes.

Memes often have a huge supply of tokens, with Shiba Inu’s having 1 quadrillion tokens and DOGE’s having no maximum supply. This creates a lower price than other cryptocurrencies because they are not likely to become rare.  

Why Are Meme Coins So Popular?

Meme coins are one of the most popular cryptocurrency trends right now. What is a meme coin, you ask? A meme coin is a digital currency that is based on a popular internet meme. These coins are often created to parody other cryptocurrencies and try to make fun of their abilities. However, some people actually use them as actual currencies.

Why are meme coins so popular? Well, for one thing, they’re funny. Many of the coins are based on popular memes that many people know and love. Additionally, many of the coins have unique features that set them apart from other cryptocurrencies. For example, some coins have a built-in exchange system, so you can trade them with other people.

Overall, meme coins are pretty fun and interesting. If you’re interested in getting involved in this trend, be sure to check out some of the more popular coins on the market today!

How to Buy and Sell Meme Coins?

There is no one definitive answer to this question, as the process of buying and selling meme coins will vary depending on the specific coin and exchange. However, some tips on how to buy and sell meme coins are outlined below.

First, it is important to understand what a meme coin is. A meme coin is a digital asset that uses memes as its primary source of value. For example, one popular meme coin is Dogecoin, which is based on the popular character Doge from the internet cartoon series “Dogeared”.

Next, it is important to find an exchange that trades meme coins. There are numerous exchanges that trade these coins, but some of the most popular include Binance, Gate.io, and FTX. Once you have found an exchange that trades your desired coin, it is important to familiarize yourself with its trading mechanics. For example, many exchanges require you to deposit funds in order to trade meme coins. In addition, many exchanges also offer limit orders and stop orders, which can be helpful when trading large amounts of cryptocurrency.

Basics of Technical Analysis

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An Overview of the Popular Meme Coins

After the success of Dogecoin, there were a lot of other coins that entered the meme coin market and are gaining traction.

DogeCoin

A new, light-hearted form of cryptocurrency has been developed with a Shiba Inu on its logo. The Open-source digital currency was created by two Australian and American programmers, who forked it from Litecoin in December 2013. It was intended to be adopted by the wider community since it was based on a popular Internet meme – the “doge” face. Elon Musk, CEO of Tesla, tweeted several times about his preference for this cryptocurrency.

Shiba Inu

Once upon a time, there was a very special dog. It was the Shiba Inu who inspired millions to invest in their tokens with images of the dog on them.

This little meme coin became suddenly popular as an investment opportunity, fueled by messages of endorsement from popular figures like Elon Musk and Vitalik Buterin. Yet it was later revealed that Vitalik Buterin had denied ever having anything to do with Shiba Inu, the creator of this coin.

Shiba Inu is a cryptocurrency that aims to be an Ethereum-based counterpart to Dogecoin. Shiba Inu and the SHIB token are part of a swarm of dog-themed tokens, including Baby Dogecoin (Baby Doge) and Alaskan Malamute Token (LASM).

There are more than 100 other copies of Shiba in the world, and the number rises constantly.

On September 17, 2021, Coinbase – the largest cryptocurrency exchange in the United States – listed Shiba Inu. As a result, interest in the Shiba Inu bull market increased significantly, which impacted their price.

Shiba Inu’s been on several exchanges this year. Bitso announced in September that it would have the crypto token trade on its exchange. Bitstamp said it would feature SHIB at the beginning of 2022, and Korbit became Korea’s first exchange to offer trading in 2021.

Baby Doge

Baby Doge was created as a way of spreading awareness about animal adoption. He is similar to the original Doge Meme, but has learned new skills and tricks from his father.

BabyDoge launched in June 2021 and has an ambitious roadmap that includes further efforts for pet charity, NFT creation, GameFi, and more.

Final Words

Before buying any meme coins, you should always research the coin and take into account the volatility of meme coins. Meme coins might crash unexpectedly, so you should never invest what you cannot afford to lose.

Frequently Asked Questions

Which meme coin will rise in 2022?

Not sure which meme coin will hit the top in 2022, but we wonder about Baby Doge on to this new trend.

Are meme coins worth it?

The demand for meme coins has not yet justified their value. The meme coins are a parody of cryptocurrency, so they don’t have many useful applications or uses. This is why the values of these coins fluctuate so quickly.

Which coins are meme coins?

In general, meme coins are cryptocurrency that are focused on memes. The first one was Dogecoin and there are still many others to come such as Baby Doge, Safemoon, or those coming out in the future.

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About The Author

My fascination with cryptocurrency and blockchain technology began in 2013. I also have an entrepreneurial spirit that has led to the creation of CryptoGuideToday, a blog that covers everything related to Blockchain and cryptocurrencies. I am passionate about educating people about cryptocurrencies and providing insight on blockchain technology. I am a strong believer in self-education being the key to success.

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