$MEME $MEME Meme coins typically gain attention through social media hype rather than intrinsic value. They can experience sudden surges in value due to viral trends or celebrity endorsements.
đ„2. High Volatility: The prices of meme coins are extremely volatile. They can experience significant price swings in short periods, making them attractive for traders seeking quick profits but also risky for investors.
đ„3. Community Engagement: The success of meme coins heavily relies on community engagement. Online forums like Reddit, Twitter, and Discord play a crucial role in discussing, promoting, and sustaining these coins.
đ„4. Lack of Utility: Unlike some cryptocurrencies designed for specific use cases like decentralized finance (DeFi) or smart contracts, meme coins often lack a clear purpose or utility beyond the meme or theme they represent.
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