Meme coin

A meme coin (also spelled memecoin) is a cryptocurrency that originated from an Internet meme or has some other humorous characteristic.[1] It may be used in the broadest sense as a critics of the cryptocurrency market in its entirety, those based on particular memes, such as "dog coins", celebrities, such as Coinye, and pump-and-dump schemes, such as BitConnect. The term is often dismissive, comparing the value or performances of those cryptocurrencies to that of mainstream ones. Supporters, on the other hand, observe that some meme coins have reached high market capitalizations.[2]

Dogecoin, created in 2013, is often cited as the original meme coin.

In late 2013, Dogecoin was released after being created as a joke on the Doge meme by software engineers. This sparkled the creation of several subsequent meme coins. In October 2021, there were about 124 meme coins circulating in the market, the most valuable being Dogecoin, Shiba Inu,[2] Floki Inu,[3] and DogeBonk.[4]

Some countries have taken steps to regulate meme coins. In early 2021, Thailand Securities and Exchange Commission banned meme coins as part of a crackdown on "no clear objective or substance".[5]

See also

References
  1. "meme coin - Slang Dictionary". Dictionary.com.
  2. "What are meme coins, floki currencies and Dogecoin-killers?". Times of India. 22 October 2021.
  3. "What is Floki Inu?". Simplecryptoguide. 16 July 2021.
  4. "DogeBonk (DOBO) - New Meme Coin like Shiba Inu (SHIB)" (PDF). EINPresswire. November 4, 2021.
  5. "Thailand bans meme coins and NFTs as part of crypto crackdown". Engadget. Retrieved 2021-07-11.
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