LIVEMeme coins are a cryptocurrency category defined as an coins based on memes or characters where community supports the currency's growth.
They are identified with mainly animated characters or animal meme images.
Some of the top currencies to gain meme coin status includesDogecoin,Shiba Inu,flokiinu,babydoge etc and recently BONK.
Most meme coins are purely trading instruments, unlike Ethereum and other utility currencies tied to specific blockchain features.
Utility is something meme coins don't often have. For example, ether is used to pay validators for verifying transactions on the Ethereum blockchain.
Meme coins often use other blockchains—one of the more popular meme coins, Shiba Inu, is an ERC-20 token that runs on the Ethereum blockchain
Anyone with the necessary technical knowledge is easily able to create a cryptocurrency. However, turning a coin or token into a popular meme coin is complex and has only been successfully achieved a few dozen times. Because of this many scammers are scamming people creating meme coins .
The meme coins mainly are on ethereum blockchain
but recently solana blockchain Meme coins were trending .
TOP 5 MEME COINS AS PER MARKET CAP ARE
1) Doge coin with Market Cap of around 11.7 Billion
2)Shiba Inu with Market Cap of around 5.657 Billion
3)BONK with Market Cap of around 738 Million
4)PEPE with Market Cap of 508 Million
5)Floki Inu with Market Cap of 301 Million
The Question is are meme coins worth investing for future long term?
ADVANTAGES:
Community Driven
If trend goes in favour can provide great fortune
Hyped when launches favour in huge gain
popular in medias
Disadvantages :
No Utility mainly .
pumped heavily by people with big money
gets dumped sometimes
very volatile
Founders are anonymous which hides their motive mainly
Note : This are just the opinions please DYOR before investing in any kind of cryptocurrency
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