m$ETH
What are meme coins?
Meme coins are digital currencies inspired by memes or jokes on the internet and social media. The first meme coin to appear was Dogecoin (DOGE). Launched in 2013 as a parody, the coin was inspired by the popular Doge meme of a Japanese Shiba Inu dog named Kabosu.
Meme coins tend to be very volatile. They are mostly community-driven, and can gain popularity overnight due to online community endorsements and FOMO (fear of missing out). But their prices can also drop unexpectedly when traders turn their attention to a new meme coin.
Another typical characteristic of meme coins is their large or unlimited supply. Since meme tokens do not have a mechanism for burning coins, their large supply explains their relatively low prices.