What are meme coins?
Part 1
Short summary. If you are new to this, it is good to read this type of information.
"Meme coins" are cryptocurrencies that are born from memes or internet jokes, and are usually based more on cultural and social phenomena than on solid economic fundamentals. These coins often attract attention from the online community and sometimes the media, which can lead to rapid fluctuations in their value. Below we detail what meme coins are and how they work.
Origin and Characteristics
Meme coins emerged as a peculiar part of the cryptocurrency ecosystem. An early and well-known example is Dogecoin, created in 2013 as a parody of Bitcoin. Its logo is based on the Shiba Inu dog meme. The original idea behind Dogecoin was simply to make a joke about the rise of cryptocurrencies. However, the community enthusiastically adopted the currency, using it for purposes such as fundraising for charity and sponsoring sporting events.
Meme coins share several characteristics:
Inspiration from memes or viral events: Their creation is usually linked to a popular meme or internet event. For example, Shiba Inu Coin was directly inspired by Dogecoin and the popularity of the Shiba Inu dog.
High level of volatility: Due to the speculative and often ironic nature of these currencies, their prices can experience large fluctuations in short periods. This is partly because its value is more influenced by sentiment and popularity on social media than by traditional economic factors.
