For some it is the most profitable investment ever, for others a disgrace to the crypto market. Meme coins are both infamous and famous. Often these digital coins have no innovative plans for the future and mainly serve as a joke, which as an investment carries a very high risk with Meme Coins.
Meme coins have a lot of brand awareness thanks to a large community. This community was partly created by the familiarity of the memes associated with the coin in question. Both the memes and the huge profits are widely shared on the internet. As a result, new investors are quickly inclined to purchase these coins with Hokk Finance Meme Coins.
However, meme coins are a very risky investment. These speculative tokens can experience huge price increases, but they can also fall very abruptly. Because the coins are based on well-known images on the internet, this can also work counterintuitively. One Tweet from, for example, Elon Musk can be enough to make the price drop significantly.
Also Read : What is Hokk Financce
What are meme coins?
A meme coin is a cryptocurrency based on a meme. A meme is a humorous image or short video that goes viral on the Internet. Thanks to the fast communication through social media channels, meme coins can become incredibly popular.
When a digital currency is based on a meme, it is called a meme coin. These coins are driven by the meme and are often characterized by a large fan base. Due to this great popularity, the demand for the meme coin is high. This has resulted in huge price increases several times.
Almost since the inception of the crypto market, meme coins have been active in the market. In 2014, Dogecoin and Nyan coin were the most famous meme coins. These two digital coins were based on the Doge and Nyan Cat meme.
Over the years, more and more meme coins have entered the crypto market. In addition, the meme coins also develop their network. For example, the ecosystems of the most well-known meme coins are growing and you can stake and swap the coins on meme platforms.
Since the inception of meme coins, many have predicted that they will disappear. Because there is usually no large project - led by a team with experience - behind the token, people often say that the coins are bubbles . However, Dogecoin, for example, proves that meme coins still have a right to exist after many years.
The most famous Meme coins
Most meme coins can be divided into a number of categories. However, so many meme coins have emerged in 2021 that the meme coins almost resemble an NFT breeding game . For example, different memes are combined with each other in terms of name, from which, for example, Pepe Innu and Doge Innu originate. If you click on the names of these coins, you can see the fate of most meme coins.
In addition to the memes explored further in this article, there are also countless meme coins that derive their name from planets or Elon Musk. In addition, there are also a lot of meme coins that are not based on memes. Saferoom ( SAFEMOON ) is an example of this.
Like many coins that are based on memes, there are also a lot of variants of Saferooms that are a combination of Saferooms and other memes in name. Saferooms Innu ( SMI ) and BabySafeMoon ( BSFM ) are recent examples of this. The most well-known meme coins are discussed below.