Memes are viral content that suggests ironic content. They often make fun of common life situations. The heroes are animals, famous personalities, or random people. Memes are widely used as a marketing tool, including in the cryptocurrency market, and are called memo coins.
Why Did Memo Tokens Appear and What Is the Secret of Their Popularity?
If something becomes popular, people want to make money. So mugs and T-shirts with the symbols of the Marvel Cinematic universe are sold better than usual. Digital assets are popular.
The fact is that most people’s knowledge in the field of cryptocurrencies is quite primitive, and the popularity of digital coins is growing every day. More and more users are striving to become holders of cryptocurrencies, but they are lost from such abundance on the market. Yes, everyone knows about Bitcoin. You can buy and sell it on the exchanges like https://letsexchange.io/. But many are scared off by its price because people tend to become owners of the whole coin, not its pathetic part.
Even though this position is erroneous, novice investors are more attracted to cheap tokens. If the symbol of the coin is a well-known memo dog, then the choice becomes obvious. Novice users choose cryptocurrencies based only on their desire and attraction, without affecting the project’s reliability and practical significance.
One of the striking examples is the DOGE cryptocurrency. Its creator Jackson Palmer came up with the coin in 2013. Initially, everything was conceived as a joke. He wanted to show everyone that investing much money in cryptocurrencies is absurd. It took programmer Billy Marcus only three hours to write the DOGE code. The symbol of the new cryptocurrency has become a popular meme dog – Shiba Inu. Its pictures go online with various funny signatures. After 8 years, its capitalization exceeds $ 40 billion. Even the founder wonders if the coin is worthy of such an assessment.
Nuances You Should Know
Memo coins are volatile. Sometimes its value can rise sharply. For example, in October 2021, Shiba Inu, a memo cryptocurrency (one of the Dogecoin clone tokens), was in the top 20 of the capital.
According to experts, interest in memo coins will increase during the period when the field of large-scale cryptocurrencies, such as Bitcoin, is stagnant and sluggish. In addition, the familiar image attracts those with little experience investing in cryptocurrencies. A meme dog is a good reason to choose this digital asset.
However, buying memo cryptocurrencies is a rather dangerous idea. There is a risk of running into scammers. For example, fraudulent cryptography from “Squid Game” has cheated buyers for more than $2 million. The crypto investors joke that they have played a squid game and lost.
How Can I Buy Memo Coins?
The most influential memo coin, Dogecoin, is available on most cryptocurrency exchange platforms, where you can swap LTC to ETH or other cryptocurrencies. For example, you can buy it on Coinbase, Binance, and Kraken.
The remaining memo tokens are usually available on a limited number of exchange platforms. For example, you can buy and sell Shiba Inu tokens on Finance, Crypto.com, Ku Coin, and decentralized exchanges like Uniswap.
Immediately after the launch, memo coins are often distributed to everyone for free. Many memo tokens are only available on DEX, like PancakeSwap, and can be purchased for another cryptocurrency.
