Memecoins are also known as joke coins. For this reason, their prices may vary. They are assets with high volatility. They should not be confused with cryptocurrencies such as #Bitcoin , #Ethereum .
➖ The price of memecoins is directly affected by social media and news. Therefore, they are among the very risky currencies to invest in.
Interest in memecoins started with the rise of DOGE coin. This is where the joke name comes from.
➖ The rise of #DOGE coins occurred in January 2021 with a joke made by a Reddit Group.
🌐 When the joke suddenly became a trending topic, Dogecoin increased its market value significantly in a five-day period with the influence of Elon Musk's tweets. Many people made big profits.
This rise paved the way for other #memecoin projects and the interest in memecoins continued to increase day by day. At this point, memecoins are among the most bought and sold coins.
Especially; small investors looking for excitement prefer memecoin projects.
