Key Features of Meme Coins
Lack of Fundamental Value
The main feature of meme coins is their lack of fundamental value or real application in the economy. Their price is usually determined by speculation, hype, and demand among investors. They do not have the same level of technological foundation or use in real sectors as, for example, Bitcoin or Ethereum.
High Volatility
Meme coins are perhaps the most volatile part of cryptocurrencies. Their price can fluctuate sharply due to the popularity of memes on social media or changes in sentiment within the crypto community. For example, such cryptocurrencies often experience sharp price increases due to new mentions from celebrities or investors.
By the way, DOGE is currently actively supported by the richest person on the planet — Elon Musk. Perhaps that is why this meme coin currently ranks in the top 10 cryptocurrencies by market capitalization.
The Driving Force of Community
The communities around meme coins are often their greatest asset. They can actively spread information about meme coins through forums like Reddit or social media.
#Square #bardar