🎯 What is a MEME coin?
A MEME coin refers to 'meme currency', which is centered around quirkiness, humor, and community culture. The earliest representative is DOGE (Dogecoin), followed by various alternatives like SHIB, PEPE, and WIF.
They do not have serious monetary goals like Bitcoin; instead, they resemble internet memes, where the more they resonate, the more likely their price will be driven up.
🔍 Why has it become popular again recently?
Viral spread on social media: The popularity of communities and social networks is their biggest driving force.
Low barrier to speculation: Most MEME coins have very low initial prices, making them easy to attract retail investors.
Market FOMO: When Bitcoin breaks new highs, market sentiment often drives MEME coins to surge as well.
👀 Examples:
PEPE: Rose to fame with the frog meme image, skyrocketing by 1000 times.
Bonk: A MEME coin in the Solana ecosystem, with a strong community atmosphere and significant price increases.
WIF (dogwifhat): The profile picture is of a small dog wearing a hat, and the community has been very active recently.
📈 Data Support:
CoinGecko Data: The total market value of MEME coins has now exceeded 20 billion USD.
In May 2024 alone, the daily trading volume of the MEME sector reached a maximum of over 1.5 billion USD.
⚠️ Risk Points:
MEME coins basically have no practical applications and rely entirely on emotions and community hype.
Price fluctuations are extreme, and newcomers should pay attention to controlling their positions when investing.