What is a meme? Coin? The biggest meme coins you need to know

What is a meme? Coin? The biggest meme coins you need to know

meme coins have massively influenced the cryptocurrency market and have become an inseparable part of it.

You can perhaps say with certainty that Dogecoin was the only Meme coin from this has created a movement that later grew up to a billion dollar market with such a passionate community.

Dogecoin is no longer worth a look, since Shiba Inu (Shib) also focused on.

In the following we take a detailed look at meme coins, what they are, how they differ from regular cryptocurrencies, which are the largest meme coins, and some of the most frequently asked questions.

So snap at and let us dive.

What is a meme? Coin?

The most important thing first: A Meme Coin is a kind of cryptocurrency - a kind of sub -area in the industry.

essentially a meme coin is a cryptocurrency that comes from a kind of internet meme or has another humorous property.

All meme coins are cryptocurrencies, but not all cryptocurrencies are meme coins.

The above rule of thumb is a good starting point, but it is also very general. This means, as the name suggests, a meme coin has a kind of meme culture that is embedded in its overall design. Some teams even integrate memes into the technical design of their token. For example, they would design it so that the maximum offer is 420 billion tokens or 69 billion tokens-all, for example, based on the meme numbers 4:20 and 69.

The more well -known examples include Dogecoin (Doge), Shiba Inu (Shib), Floki Inu (Floki) and others. These all revolve around the Doge mem.

But that's not all. Another large group of meme coins and meme cryptocurrency projects, such as not fungible tokens (NFTS), is about the popular Internet meme-Pepe the Frog. The biggest project is called Pepe.

meme coins are just as real as any other cryptocurrency, they are typically based on popular layer one networks such as Ethereum, Solana and Polygon. However, some of them, such as Dogecoin, have their own networks that have been specially developed for them.

While most coins are more focused on any benefit, Meme coins are largely focused on becoming viral by the explosiveness of memes and their quick spread.

Therefore it is time for an important disclaimer. Meme coins are volatile and naturally risky. Users are strongly recommended to consult a specialist before investing in meme coins. Never invest more than you can afford to lose.

How does meme coins work?

meme coins work. The vast majority of it is based on Ethereum and uses the ERC 20 smart-Contract standard.

The most obvious exception is Dogecoin. It has a native blockchain that, in a way, imitates that of Bitcoin. It is based on a proof-of-work consensus salgorithm, but, in contrast to the limited offer of Bitcoin, has an unlimited range of inflation.

Other meme coins such as Shiba Inu (Shib) create their own ecosystems and build side projects to offer additional value and integrate their users.

In general, however, meme coins mainly rely on the power of the memes on which they are based on building a strong community that is enthusiastic about it, and to arouse investment interest.

Are meme coins safe?

Since the focus of the meme coins on Meme coins on which they are based, they are also tend to be much more volatile compared to conventional altar coins.

For example, Pepe Coin within less than a month in 2023, the value of literally $ 0 rose to a market capitalization of almost $ 2 billion. This is an astronomical growth that is hard to imagine. The meme coin since his all -time high just a few weeks later he lost more than 70 %. This should give you an idea of ​​how volatile and risky meme coins can be.

With regard to technical security, you should be treated on the market like all other old coins. Investors should ensure that you have carried out a sufficient DUE diligence test to ensure that you do not put your hard-earned money into the abyss. Speaking of RUG pulls-there are many of them in the Meme Coin, so they are extremely careful.

In the meantime, it is also very advisable to take a look at these guidelines:

common features of meme coins

Although they are different from design and compared to other cryptocurrencies, meme coins have some similar features.

• Many of them are based on a layer 1 network.
• everyone is based on a popular internet meme or a humorous element.
• Most of them concentrate strongly on the social side of growth.
• The biggest meme coins have incredibly committed communities.
• Your prices tend to be incredibly volatile.

These are just a few of the common features that most meme coins have.

The largest meme coins

There are probably thousands of meme coins, and a new one is created every day. However, there are a couple who managed to pass the test of the time or to penetrate the mainstream in a way that has consolidated their place as a big meme. Here are three examples of the biggest meme coins.

Dogecoin (Doge)

Dogecoin (Doge) is the original Meme Coin. It was founded as a joke at the end of 2013 and is now the largest meme coin measured in terms of the entire market capitalization at the time of writing these lines in 2023 - ten years later.

It was created by Billy Marcus and Jackson Palmer. The former claimed that he sold his entire dog in 2015.

Here are 5 facts about Dogecoin that you may not have known yet.

Dogecoin received enormous support from his community, especially after Elon Musk started to follow the project and even put efforts into its development. A representative of his is part of the Dogecoin Foundation together with another prominent personality in the cryptocurrency area - Vitalik Buterin and supposedly works to improve Dogecoin as a whole.

It is one of the few meme coins that has its own blockchain based on the proof-of work consensus-salgorithm-similar to Bitcoin. However, Dogecoin is inflationary and has an unlimited offer.

Shiba Inu (Shib)

Shiba Inu (Shib) was introduced as a dogecoin much later, but you can perhaps say with certainty that it was inspired. It is also based on the Doge meme.

According to his "Woofpaper", Shiba Inu (Shib) represents an experiment with a decentralized, spontaneous joint structure.

One can certainly say that the experiment was successful, since Shib has become the second largest meme in the world Coin both based on market capitalization and on the basis of the community.

The team also started a decentralized stock exchange called Shibaswap and at the same time works on numerous NFT initiatives, a meta-severse-based platform and much more.

Shib enjoyed explosive popularity during the bull market than a market capitalization of over $ 70 billion. Even if this number is currently far from being reached, the same applies to most coins, but it shows how viral meme coins can become.

Pepe Coin (Pepe)

PEPE COIN is the latest Meme Coin enormously viral. The cryptocurrency was created in April 2023 and had a market capitalization of $ 2 billion at the end and early on the next month.

The enormous interest in Pepe led to it was noted on all major exchanges, including Binance.

PEPE is based on the popular Meme Pepe the Frog and is designed as "the most memorable Memecoin ever". We have prepared a complete explanatory video if you want to learn more: