Topic: What are Meme Coins? - page 4. (Read 535 times)

Most newbies that I've encountered not just in the forum but also IRL have been welcomed to meme coins, that's a far introduction for them and it's true that investing in meme coins is riskier these days because pump there is done.

I haven't seen someone review them but every time they create some topics like this, they always get to have that introduction being inserted in the discussion.

Meme coins are too risky to invest, I lost a lot of money investing on meme coins, so i can never invest on it again, though most daily traders make a lot profit investing on meme coins.

First of all, it is pretty obvious that this is just a pretty badly hidden shill post for your exchange, but i don't really have a problem with that. The crypto space is still pretty much the wild west and a little bit of bad shilling is really not the worst that is going on here. To the topic of meme-coins. For me they are all just shitcoins that have no purpose. I can still understand, that a lot people are liking Dogecoin because it was the first of it's kind and really just created for fun it seems. All the other stupid meme-coins that were coming out since then and especially since Elon Musk made that tweets were simply created because the people behind it want to make a quick buck without any effort.

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

It's the first time I read of FMCpay. Any reviews anyone?

I don’t think any of them have a real future as a means of payment in mainstream finance. I do think that you can make quick money on them & get out ASAP into safer, more reliable investments though & that’s the aim for most meme coin investors.

Do your own research but there are opportunities out there to do very well in these projects. Just don’t hold them long term.

In short memecoins are what people use to lose money quickly, some people had absolutely no idea how trade and they ended up losing money but not a lot because you could just sell and get out. Then they invented stuff like NFT so they could lose money but at least there would be a proof of them losing money as well, they could show the NFT as a proof. Then Elon said "why are we spread too far in crypto while losing our money, we all lose it in different coins and tokens, we should get together and lose money all together". So they pumped doge and shiba, so they all lose together as a community, all together.

Doge was a meme coin. Joke. Funny to some, not to others. But can a joke be funny for 10 years? Does it get funnier when repeated 1,000 more times? NO! It becomes annoying. And that's what meme coins are for normal users. A speculative/marketing phenomenon that died in 2022 and that we would rather like to forget ever existed. For normal investors, meme coins were a disgrace, for whales, meme coins were a way to mock the entire crypto market, and for scammers, meme coins were a harvest time. A disgrace to the entire crypto market, because we spent the whole of 2021 on bubbles of dogs and cats instead of financing new technologies. A lost year of the peak of the bull market and the peak of interest in crypto. The moment awaited since 2017. The huge capital that has flowed into crypto from new investors in this period has been sucked in by scammers in such a stupid way.

And now in the middle of 2023 OP is making a list of "What are Meme Coins and how to buy them"... Seriously, you can't go any lower.


https://pbs.twimg.com/media/FoNZ33pXkAAANl3?format=jpg&name=small

What are meme coins?

Meme coins are digital currencies that get their inspiration from the Internet and social media jokes and memes. Dogecoin was the first meme currency produced (DOGE). A Japanese Shiba Inu dog meme known as Doge served as the basis for the 2013 parody DOGE.

Meme coins frequently exhibit considerable volatility. They are primarily driven by the community and can become well-known overnight as a result of FOMO and online community recommendations. However, when investors start looking at the next meme coin, their price may suddenly drop.

Another characteristic of meme coins is that their supply is either enormous or limitless. While DOGE has no maximum supply and over 100 billion tokens are already in circulation, Shiba Inu (SHIB) has a total quantity of 1 quadrillion tokens. Since meme tokens typically lack a coin-burning mechanism, their abundant supply accounts for their comparatively low values. Millions of meme tokens can be purchased for just $1 USD.

Why are meme coins so popular?

Not only are meme-concept coins becoming more and more popular, but their token count is also increasing. Over 80% of the existent meme coins were created in the last two years. Most meme coins are created by a small portion of the community and are mainly modified versions of already existing ones. A testament of the different evolution from Dogecoin is the over 70 meme coins with dog themes.

Meme coins are brilliant, well-known for recording speedy increases, and capable of achieving astounding market capitalization and popularity levels in a very short amount of time; these quick pumps are caused by a few of the factors listed below.

Hype Marketing

Hype marketing has played out well for a good number of cryptocurrency projects.

Well-planned shills by a group of people could create thrills and lure potential investors into investing in a project despite having no clear information about the project. These projects sometimes involve prominent cryptocurrency influencers and mainstream celebrities to create these shills.

If done well, hype marketing could override utility and push a project to tangible price levels regardless of the proper utility it presents. This growth despite being organic is built on ‘unverified beliefs’ and bloated utility. Meme coins adopt this strategy and utilize it better than many other cryptocurrency projects. A successful shill exercise sends the token’s price to ‘the moon’.

Fear of Missing out (FOMO)

The constant price jerks witnessed in the crypto space are driven by ambitious investors jumping into new ‘exciting’ projects with hopes of making some gains or at least not missing out on the project’s potential success. Fear of missing out on further profits.

For meme coins, the price growth that follows the hype marketing is augmented with FOMO and more hype marketing. The price growth continues as long as this trend is sustained. Many meme coins gained hundreds of thousand followers mainly on the meme culture and way before they adopted a reasonable utility.

What are the most popular meme coins?

Dogecoin (DOGE)

Dogecoin (DOGE) was created in 2013 by software engineers Billy Markus and Jackson Palmer. It was inspired by the meme of a Shiba Inu dog and was intended to be a joke cryptocurrency to attract mainstream attention. As a fork of Litecoin (LTC), DOGE adopts the same Proof of Work (POW) mechanism, and it has no maximum supply.

Shiba Inu (SHIB)

Shiba Inu (SHIB) is the rival of DOGE and is often referred to as the “Dogecoin killer”. SHIB is also named after a Japanese dog breed. It was created by an anonymous developer named Ryoshi in August 2020. The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens, of which 50% were burnt and donated to charity. SHIB’s ecosystem also includes a decentralized exchange, an NFT art incubator, NFTs, and an NFT game.

Dogelon Mars (ELON)

Dogelon Mars (ELON) closely follows the doggy duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for his company SpaceX. ELON is a fork of Dogecoin and has a circulating supply of 557 trillion tokens. As of November 2021, ELON has surged over 3,780% since its launch in April 2021.

Akita Inu (AKITA)

There are many other meme coins using Japanese dog breeds as their mascots, such as Akita Inu (AKITA), Kishu Inu (KISHU), and Floki Inu (FLOKI). AKITA was heavily inspired by DOGE. It was launched on Uniswap as an ERC-20 token in February 2021. Its tokenomics is very similar to SHIB. Like SHIB’s developer Ryoshi, the AKITA team locked 50% of its total supply on Uniswap, while the remaining 50% was sent to Ethereum co-founder Vitalik Buterin. However, AKITA only has a total supply of 100 trillion tokens, which is 1/10 of the total supply of SHIB. AKITA gained traction alongside its fellow doggy coins in May 2021 and is seen by some community members as another “Dogecoin killer”.

Samoyedcoin (SAMO)

Samoyedcoin (SAMO) is a dog meme coin project built on the Solana blockchain. At launch, 13% of SAMO supply was airdropped to members of the community. According to their website, SAMO roadmap includes burning events, airdrop tools, a decentralized exchange (DEX), and the creation of NFTs. Samoyedcoin recently gained popularity due to a sudden increase in price. SAMO grew over 4,300% within a month. In October 2021, the price went from $0.005 to over $0.22 in roughly 30 days.

Kishu Inu (KISHU)

Kishu Inu (KISHU), another canine-themed meme coin, has grown exponentially since it launched in April 2021. KISHU includes participation rewards for active users, non-fungible tokens (NFTs), and a DEX called Kishu Swap. It has been growing in popularity and recorded over 100,000 holders and 2 billion dollars market capitalization within one month after its launch.

SafeMoon (SAFEMOON)

Another meme coin newcomer that capitalized on the rally was SafeMoon (SAFEMOON). It is a BEP-20 token launched on the BNB Smart Chain (BSC) in March 2021. SAFEMOON rewards long-term holders by penalizing those who sell the token with a 10% exit fee, of which half of the fees will be distributed to existing SAFEMOON holders, and the other half will be burnt. It attracted retail investors’ attention after it soared in April. As of November 2021, SAFEMOON has a 9418.54% ROI, according to CoinMarketCap.

How to buy meme coins?

You can buy the more popular meme coins such as DOGE and SHIB, on cryptocurrency exchanges like FMCPAY. FMCPAY is a centralized cryptocurrency exchange that enables you to buy and sell directly with other users through the online marketplace. For other less prominent meme coins, you can go to decentralized exchanges.

FMCPAY is launched in 2021 with licenses in the US. By charging a low transaction fee of 0.04 percent, the exchange has positioned itself as an open and seamless gateway for cryptocurrency newcomers. According to financial experts, FMCPAY Exchange is considered to be one of the world’s most trusted platforms for trading cryptocurrencies and digital securities registered in the USA.

Click to buy your favorite meme coins at FMCPAY exchange: https://fmcpay.com/exchange