{"id":415411,"date":"2022-03-12T16:00:00","date_gmt":"2022-03-12T13:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-a-meme-coin\/"},"modified":"2022-03-12T16:00:00","modified_gmt":"2022-03-12T13:00:00","slug":"what-is-a-meme-coin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/","title":{"rendered":"#What Is a Meme Coin?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2eb2c3c1375\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2eb2c3c1375\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/#%E2%80%9CWhat_Is_a_Meme_Coin%E2%80%9D\" >&#8220;What Is a Meme Coin?&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/#Meme-Inspired_Cryptocurrency\" >Meme-Inspired Cryptocurrency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/#Value_That_Lasts%E2%80%A6_for_a_While\" >Value That Lasts\u2026 for a While<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/#A_Few_Meme_Coins\" >A Few Meme Coins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/#Meme_Money\" >Meme Money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-meme-coin\/#How_to_Spot_a_Meme_Coin\" >How to Spot a Meme Coin<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWhat_Is_a_Meme_Coin%E2%80%9D\"><\/span>&#8220;What Is a Meme Coin?&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<figure style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"type:primaryImage size-full wp-image-789836\" data-pagespeed-lazy-srcset=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/02\/dogecoin-tabletop.jpg?width=398&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1 400w, https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/02\/dogecoin-tabletop.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1 1200w\" sizes=\"auto, 400w, 1200w\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/02\/dogecoin-tabletop.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Closeup of an upright physical version of a Dogecoin.\" width=\"1200\" height=\"675\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"type:primaryImage imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-photo\/dogecoin-doge-cryptocurrency-means-payment-financial-1992038288\">surassawadee\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>First, it was DOGE, then it was SHIBA. Now, it seems like there\u2019s a new coin related to dogs every hour. Here\u2019s what a \u201cmeme coin\u201d is, and why it might not make the wisest investment.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Meme-Inspired_Cryptocurrency\"><\/span>Meme-Inspired Cryptocurrency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meme coins are cryptocurrencies that are based on internet memes. While many cryptocurrencies like Ethereum and Bitcoin tout technical features such as decentralization and anonymity, meme coins are different. Most of these tokens are characterized by a value proposition mostly derived from their association with a meme.<\/p>\n<p>Some meme coins are satirical, acting as a critique of cryptocurrencies or other parts of internet culture. For example, Dogecoin (DOGE), one of the top ten largest cryptocurrencies globally, started as a \u201cjoke\u201d by its creator. On the flip side, some meme coins are \u201cscam coins,\u201d which are currencies made purely to cash in a quick buck at the expense of others.<\/p>\n<p>You might ask: why do people buy these coins? A lot of the value of a meme coin is speculative. People often buy these on the assumption that they\u2019ll grow in popularity and value. While this sometimes pans out, such as Shiba Inu (SHIBA) and Dogecoin, many of these meme coins go by the wayside. Even people within the crypto space debate about whether or not people should buy these coins.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Value_That_Lasts%E2%80%A6_for_a_While\"><\/span>Value That Lasts\u2026 for a While<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One thing to note about meme coins is how ephemeral they tend to be. While some meme coins such as DOGE have seemed to outlast their expected lifespan, most meme coins come and go in a very short period, both deliberately and unintentionally. Furthermore, whereas many mainstream coins try to illustrate a use case, such as an alternative financial instrument or a method of exchange in a video <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>, meme coins tend to have no practical usage other than to be bought and sold.<\/p>\n<p>Many meme coins are also \u201cscam coins,\u201d which are cryptocurrencies that exist entirely to enrich the creator. Scam coins can take the form of multiple schemes, such as \u201cpump and dump\u201d schemes that call on people to buy a coin in massive numbers. Once the value is sufficiently high, the early owners of the coin will \u201cdump\u201d to make a massive profit. Alternatively, scam coins can be a \u201crug pull\u201d where developers take all the money and completely abandon a project.<\/p>\n<p>However, not all meme coins are scams. Some meme coins have useful functionality, like DOGE and SHIBA, and have primarily used the \u201cmeme\u201d aspect to increase adoption. Members of the community also consider meme coins a vital way to get people interested in cryptocurrency, with public figures like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/01\/14\/dogecoin-jumps-after-elon-musk-says-its-can-be-used-buy-tesla-merch.html\">Elon Musk<\/a> frequently signal boosting meme coins.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"A_Few_Meme_Coins\"><\/span>A Few Meme Coins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reading through a list of altcoins based on memes may feel surreal. To the skeptic, DOGE already sounds a little strange, with its entire visual identity based on a decade-old internet reaction photo. However, DOGE doesn\u2019t even scratch the surface. Meme coins attempt to milk every internet trend imaginable, including other meme coins.<\/p>\n<p>Here are a few absurd examples of meme coins:<\/p>\n<ul>\n<li>Cat Coin (CAT)<\/li>\n<li>Dogelon Mars (ELON)<\/li>\n<li><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoinist.com\/i-bought-garlicoin-and-heres-why\/\">Garlicoin<\/a> (GRLC)<\/li>\n<li>UFO Coin (UFO)<\/li>\n<li><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.investopedia.com\/news\/what-jesus-coin-and-does-it-foretell-end-cryptocurrencies\/\">Jesus Coin<\/a> (JC)<\/li>\n<li>DogeBonk (DOBO), Doge Dash (DOGEDASH), Dogs of Elon (DOE), Dogey-Inu (DINU), DogeCash (DOGEC), DOGESWAP (DOGES)<\/li>\n<\/ul>\n<p>The list above is just a tiny sample of the vast world of meme coins. There are so many meme coins that there\u2019s an entire meme section on the consolidated crypto tracking website CoinMarketCap. There are coins with profane language and coins named after people who did not consent, such as \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.thefader.com\/2017\/12\/13\/kanye-west-cryptocurrency-coinye-worth-2017\">CoinYe<\/a>,\u201d named after Kanye West. There are dozens of spin-offs and offshoots of DOGE alone.<\/p>\n<p>Some currencies are just an amalgamation of various other memes, such as Dogelon Mars. This coin is a combination of Doge, Elon Musk, and his ambitions to take the human race to Mars in the future. Musk did not endorse or create this coin.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Meme_Money\"><\/span>Meme Money<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure style=\"width: 650px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-789840\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/02\/gamestop-stock-price-increase.jpg?trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"A smartphone showing the GameStop logo in front of a chart of increasing stock value.\" width=\"650\" height=\"433\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-photo\/gamestop-retail-company-logo-on-smartphone-1903803928\">mundissima\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>Cryptocurrencies aren\u2019t the only financial instruments to turn into viral internet sensations. The last few years have also seen the rise of \u201cmeme stocks.\u201d For example, in 2020, the value of gaming company <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/abcnews.go.com\/Business\/gamestop-timeline-closer-saga-upended-wall-street\/story?id=75617315\">Gamestop\u2019s stocks<\/a> rose rapidly after a massive influx of online users from the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a> community r\/WallStreetBets purchased huge amounts of shares.<\/p>\n<p>These purchases were made as part of a \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.investopedia.com\/terms\/s\/shortsqueeze.asp\">short squeeze<\/a>,\u201d where financial institutions and investment firms who bet against the company\u2019s value lost massive amounts of money. Many consider Gamestop the original meme stock, with companies like AMD and Bed, Bath, and Beyond following soon. These purchases frequently go against the traditional tenets of investing, which usually calls for close inspection of a company\u2019s long-term viability.<\/p>\n<p>There are also non-fungible tokens, often called \u201cNFTs.\u201d These are individual assets on the blockchain that can be bought and sold between users, such as art or images. While online arguments continue to h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en regarding the legitimacy of NFTs, many people have taken advantage of the massive craze to sell iconic memes as NFTs. This includes the original files of some of the world\u2019s most recognizable internet figures, such as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2021\/04\/29\/arts\/disaster-girl-meme-nft.html\">Disaster Girl<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theverge.com\/2021\/2\/18\/22287956\/nyan-cat-crypto-art-foundation-nft-sale-chris-torres\">Nyan Cat<\/a>.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"How_to_Spot_a_Meme_Coin\"><\/span>How to Spot a Meme Coin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Before you buy any coin, you should make sure that you\u2019re buying something legitimate. You should investigate any potential scams, which meme coins are rife with.<\/p>\n<p>If a coin has anything related to \u201cDOGE\u201d or \u201cSHIBA\u201d in the name, it\u2019s probably a meme coin. One good place to figure out whether something is a meme coin or not is through the project\u2019s website. If the creators spend very little space talking about potential uses for the currency and their page has numerous references to Elon Musk and cute animals, then it\u2019s likely a meme coin.<\/p>\n<p>Alternatively, you can refer to the handy list on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/view\/memes\/\">CoinMarketCap<\/a> that tracks all meme coins. Do your due diligence before you spend money on a volatile investment like crypto.<\/p>\n<p><strong>RELATED:<\/strong> <strong><em>What Are Altcoins, and Why Do They Exist?<\/em><\/strong><\/p>\n<\/div>\n<p><script>\n setTimeout(function(){\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s) } (window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n   fbq('init', '335401813750447');\n   fbq('track', 'PageView');\n  },3000);\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Now, it seems like there\u2019s a new coin related to dogs every hour. Here\u2019s what a \u201cmeme coin\u201d is, and why it might not make the wisest investment. Meme-Inspired Cryptocurrency Meme coins are cryptocurrencies that are based on internet memes. While&#8230;<\/p>\n","protected":false},"author":1,"featured_media":415412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/02\/dogecoin-tabletop.jpg?height=200p&trim=2,2,2,2","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-415411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=415411"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/415412"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=415411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=415411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=415411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}