#ETHProspects #لماذا Are meme coins popular?
During the COVID-19 pandemic, the cryptocurrency market has seen a surge as individual investors look for ways to hedge against inflation. With this demand, meme coins have boomed, increasing their market value and diversification. This phenomenon gained popularity after the “meme stock” saga involving GameStop (GME) and AMC Entertainment (AMC), where the Reddit community drove up the prices of these assets significantly.
Inspired, people began joking about raising the price of Dogecoin (DOGE) in order to create a cryptocurrency equivalent to GameStop (GME) stock. This trend, coupled with the endorsement of prominent figures such as Tesla CEO Elon Musk, led to a significant surge in the price of DOGE.
