Hello everyone and welcome to my space , hope y'all are having a splendid weekend.
As we all know , lately meme coin and tokens have been evolving rapidly in the crypto world . So today I'll be sharing some little idea I have about tokens and meme coins
Source
Meme coins and tokens are distinct classification of cryptocurrencies that usually rise in prominence based on cyber culture and airdropping rather than basic tenets or utility.
Meme coins and tokens are often inspired by memes from the internet and trends within the society. Attributes include whimsical and comedic brand and names, that links with cyber communities.
Meme coins and tokens depends mainly on community participation and community-base promotion efforts to gain progress aswell as prominence. Internet discussion platform and grassroot efforts are very essential in boosting and propagating the projects.
Also meme coins and tokens are known for their drastic price fluctuation due too trading based on speculation, group interaction and market mood. Prices can experience significant price instability which is considered highly risky.
Example of well known memes include
Dogecoin (DOGE)
Shiba Inu (SHIB)
SafeMoon (SAFEMOON)
Akita Inu (AKITA)
Majority of these meme coins attained their fame via social media campaigns and fans hype .
Note that meme coins and tokens typically have distinct token economics, comprising of massive token supply, supply-reduce mechanism, and tokens given to holders to improve engagement.
In conclusion meme coins and tokens portray a special part in the crypto market by humor and volatility.
Personally I'll recommend that those who are interested in buying meme coin and tokens should invest what they can afford to lose.
Thanks for reading
