Why did they soar? 📈🤔⬇️
* Community: Meme coins are actively supported by huge and very passionate online communities. People buy them not only for profit but also as a way to participate in a movement, part of a culture! 🤝
* Social media: Elon Musk's tweets, TikToks, and memes on Reddit can literally raise or crash the value of these coins overnight. 📉⬆️ This shows how strongly social media influences their value.
* Easy entry: For many newcomers to crypto, meme coins become the first entry point due to their accessibility and relatively low price per unit.
* "Moon" potential: Despite all the risks, stories about how someone made a fortune on cheap coins continue to attract new investors hoping for their own "moonshot" (to the moon! 🌕).$DOGE $FLOKI $SHIB
