🫥 The meme-coin phenomenon. Why is the trend still alive?

The last bear phase was quite long and painful, and we can still hear the echoes of that time. But when the market started to slowly come out of it — meme-coins created a serious boom, which continues on various blockchains until now.

🔖 Meme-coin (shitcoin) is a coin, which was created based on a trending meme, event, news, which has ever been or is currently in progress.

The main purpose of such coins is to attract attention, create trends or even make a profit, both on the part of developers and speculators.

Over the past year, the narrative has not just made its season and gone into the shadows as it has in past markets, but continues to live on beautifully, only changing blockchains and some features.

💵 By the end of May 2024, the Dashboard CoinMarketCap alone includes over 10k coins with a total market capitalization of $3.58T.

The popularity of meme coins is growing exponentially. This is similar to the NFT market boom in 2021. We've all seen the beautiful success stories on the same $PEPE coin, which in a way started this "shitcoins bullrun".

The main feature of popularity is still considered to be high profit with not much cost and short time span. Just as it was in its time with NFT.

❕ The cherished X100-X1000 beckons many cryptans. The effect of ludomania is evident here. Just open Twitter and you will see many stories of colossal success and phenomenal crashes.

Are you familiar with meme-coins?

🔥 — Yes

🐳 — No