Meme coins are a type of cryptocurrency projects that are built around memes. Meme coins can be dog-themed, food-themed, even celebrity and politician-themed. Unlike traditional cryptocurrency, which focuses on blockchain technology and scaling solutions, meme coins are more about fun, humor, and community engagement, presenting a lower barrier to entry.
Meme coins are also cheaper than well known large cap cryptocurrencies like bitcoin, selling for as low as fractions of a cent, making it accessible to a wider audience. Group marketing creates hype, driving buy pressure for the meme coin project. Historically, some meme coins have turned a considerable profit for their holders, enjoying a significant price return in a short span of time.
However, given that meme coins usually hinge on a funny concept, their value is determined by how much momentum they can generate and whether they can maintain their audience's level of interest. As a result, in order for meme coins to sustain value in the long term, many contemporary meme coins have started offering more than just the meme culture as their source of value.
