Inspired by Internet memes and events, and promoted by influencers, coin and token memes stand out.

KOLs have always had a certain influence in the crypto market but never as strong as they have been recently. When voice support , the first meme coin, created a wave of imitations of his actions in the KOL world. They promote the coin on social media platforms like Tiktok.

Some consider it crazy to invest in meme coins while others see it as a gamble with the potential of 1000% profits. Regardless of who is right or wrong, interest in the coin and token meme has grown rapidly in recent months.

What is a coin and token meme?

Usually, meme coins have no intrinsic value and utility. As the name implies, these cryptocurrencies often have logos, named after Internet memes: jokes and funny images on social media.

The first meme coin was () based on meme Derived from the funny image of a Shiba Inu dog. DOGE runs on main its own, so it's different from token memes that run on a some.

Two other prominent token memes are the Shiba Inu Doge (), tokens run on and SafeMoon (SAFEMOON) runs on SmartChain. And dozens of other coin memes.

Why did the coin meme become so popular?

Since the launch of Dogecoin in 2013, it has become much easier to create cryptocurrencies and token memes can be released immediately after the events related to them or become famous for being KOL. advertise.

Meme Coins and Tokens

For example, in May 2021, Facebook CEO Mark Zuckerberg posted a photo of his pet goat with the caption: “My Goats: Max and (My goat: Max and )". Soon after, a meme token called Aqua Goat raised 300% in just a few hours.

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Hay tweeted that if he had a scandal that came out it would be called "Elongate". An hour later, the ELONGATE token was released. What is the motive behind creating these token memes? The developers of the meme token announced they have donated $3 million in profits to charities. Maybe this is the engine…

Where to buy coin and token meme?

As the top meme coin, Dogecoin has been listed on many crypto exchanges including Coinbase, Binance and .

list DOGE

Meme tokens are often listed on quite a few exchanges. For example, Shiba Inu is traded on , .com, and decentralized exchanges () as UniSwap. The listing on delayed from June 2021. Safemoon on traded on Binance and other based on BSC like PancakeSwap.

Usually, upon initial launch, token memes will be used as gifts. Many small cap tokens are only available on DEXs like PancakeSwap and can only be purchased with other cryptocurrencies.

What is the difference between meme coin and token with cryptocurrency?

All cryptocurrencies rely on a strong community and the support of influencers, especially Elon Musk. Manager Simply tweeting about something like the lackluster song Baby Shark can cause the price of related token memes to skyrocket.

Besides, the meme token development team openly uses dangerous tricks to increase the price. The door research team Shiba Inu coihn decided to donate half of the tokens for co-founders Vitalik Buterin. But he threw away those tokens (actually donated to charity) to ruin their plans and asked other groups not to donate coins without his consent because “I don't want to be a trajectories of power”.

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The token meme is accounting for about 2.8% of the crypto market capitalization by mid-June 2021, worth over $38 billion. But the price of meme tokens often fluctuates wildly and erratically.

Token memes usually have a huge circulating supply – around trillions.

The most popular coin memes

CoinMarketCap lists the 3 most popular coin and token memes as Dogecoin, Shiba Inu, and Safemoon (June 2021).

Dogecoin (DOGE)

Dogecoin was invented by developers Jackson Palmer and Billy Markus. It started out as a joke, but it has become a serious category since Elon Musk promoted it in 2019.

The value of the puppy cryptocurrency has skyrocketed in recent months, hitting a market cap of $9 billion at its peak in January 2021.

Musk is currently working with Doge developers to improve the platform, optimize it as a payment method for goods and services, and reduce carbon emissions.

Shiba Inu Coin (SHIB)

Shiba Inu was launched in April 2021 and was a “spontaneous centralized fee community building experiment” and quickly increased over 2,000,000$ in value when it reached ATH in early May.

The token benefits from Dogecoin, especially when Elon Musk appeared on SNL last month and said DOGE was “a way of making money” which led to a sell-off.

SHIB has a total supply of one trillion and is designed to let users hold billions or even trillions of tokens. However, pundits have warned that it will need to rally around 12 million percent to reach its magic target of $1.

SafeMoon (SAFEMOON)

SafeMoon is a token that improves the source code of Dogecoin. Unlike Bitcoin has a limited supply of 21 million , Dogecoin has an infinite supply which makes it known as an inflation allocation model.

To overcome this weakness, SafeMoon uses a deflationary model. Meaning that every time a SafeMoon transaction takes place, 5% of the transaction amount will be burned and another 5% will be transferred to the holders of this token. Therefore, the total supply is designed to decrease continuously, ensuring safe returns and eliminating 'bubbles'.

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Spring of 2021, the token has grown by more than 1,500% and only dropped by 73%, the market cap in June 2021 is 2 billion USD.

What is the risk of meme coin?

Not everyone sees the potential risk in it. Thai regulator asks exchanges to remove token meme, and token fan in June 2021.

There are also some risks that are always present such as 'rug pulls' - cases when developers hold large amounts of tokens to lure people into buying and then selling off those tokens. This action caused the market to plunge and those people with large sums of money ran away. Even seasoned investors like was also a victim of rug pulls.

One way to minimize the risk of rug pulls is to only buy coins and tokens that have been audited or supervised by a trusted 3rd party.

Future

Relying on crypto influencers to entice others to buy does not create stability. But the influencer and community-powered nature of the coin and token meme will never change.

It is inevitable that crypto crackdowns by the law (such as the Thai Government) may even become a tool to help expand the token meme market. And sites like Meme.com are the new marketplace where users can compare meme cryptocurrencies and mint their own meme tokens. Its value will be based on the perceived value of the meme representing that token.

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