That was the question a reader had left on an article I had written about the infamous Squid Game Token heist — a cryptocurrency scam that was built on top of a popular cultural phenomenon with Meme Coins.
What is a meme coin or meme token in cryptocurrency?
To answer the question directly: Meme tokens are primarily defined by their modus operandi of viral marketing. In this article, we look at six characteristics that all meme tokens share to help you identify one With Hokk Finance Meme Coins.
First, we need to have a rough idea of what we mean by meme tokens.
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What is a Meme Coin or Meme Token?
According to Investopedia,
As their name suggests, meme coins are inspired by a joke or a silly take on other well-known cryptocurrencies. They typically gain popularity in a short period of time, often hyped online by prominent crypto influencers and retail investors attempting to exploit short-term gains. — Altcoin Investing: What Investors Need to Know (investopedia.com)
Also Read : What is Hokk Finance
How to Identify a Meme Token?
We can identify a meme token using six clues. Note that this list is a guideline; a meme token does not need to fulfil all criteria to be considered a meme token, and there are always exceptions.
#1 Virality is the hallmark of a meme token.
To understand what a meme token is, you need to understand what a meme is. The concept of a meme was created by biologist Richard Dawkins in 1989 (cited in Wikipedia). He wanted to extend the idea of genes in life to the realm of culture and behavior, and the word he came up with was “meme” — A basic unit of culture that is copied and transmitted.¹
The idea is this: Memes are units of culture that spread.
Like a virus. It’s a very apt metaphor for our times. And because virality is the hallmark of meme tokens, they can gain popularity in a very short period.