What does an Exchange look for in a memecoin to be listed?
Community, sentiment, FOMO, exponential growth, and cult.
Meme coins thrive on community support, where value is largely driven by enthusiasm, humor, and the viral potential of the meme associated with the coin.
When the sentiment around a meme coin is strong enough, it can evolve into what could be described as a "cult" following.
What is Sentiment in Cryptocurrencies?
In the world of cryptocurrencies, sentiment refers to the expectations and emotions of investors and traders regarding the price of an asset. This encompasses both optimism and pessimism generated around a #token or project. In the case of memecoins, which are coins without a clear utilitarian purpose, sentiment is often what drives their price.
The most recent example is #CHILLGUY
A memecoin that has gone viral, already surpassing over 111 thousand holders.
The richest man in the world, Elon Musk, did not overlook this and has retweeted TheGregYang's post.
The President of El Salvador, Nayib Bukele, has posted the image of the ChillGuy dog, and Anatoly Yakovenko, co-founder of Solana, quoted him asking "What?".
CoinMarketCap asks "Who do we vibe with?", accompanied by the image of the dog.
Cryptocurrency exchanges, which are platforms where users buy and sell cryptos, make strategic decisions when listing a new #memecoin, evaluating each point such as:
Popular Demand
Marketing and Visibility
FOMO
Once all of this comes together, exchanges notice the growing interest and begin to list the token, generating even more enthusiasm and more purchases.
DYOR