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You may also have many questions. What is meme coin? Most people are familiar with Bitcoin, but it is not the only cryptocurrency in the market cap.
While most traders are focused on the top cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), many coins have emerged in the last few years. Meme coins are often launched as jokes, but some investors believe those should be taken seriously.
Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB) have created excitement in the market and some people have made a lot of money from these investments.
In this article, we will explain meme coins and introduce you to investing.
What is meme coin?
Meme coins are cryptocurrencies that have gained popularity in a short period and are usually promoted online by influencers and retail investors. Doge coin is the first meme coin created as a joke in 2013.
The currency rose to prominence after Elon Musk started tweeting about that and retail investors started buying in droves.
Since anyone can create a new digital currency, developers have released many meme coins after Dogecoin. For example, you can consider the Shiba Inu coin, Rats, Bonk.
Investing in meme coins
Meme coins are one of the digital assets that have attracted many investors. In addition to their high popularity, these cryptocurrencies also have a high risk, so we must pay attention when investing.
While it is possible to make money by investing in meme coins, this type of investment is incredibly risky. If you buy and sell at the right time, you can make a profit.
Before investing in any cryptocurrency, including Meme Coin, it is important to research. Take the time to understand the concept of the project and its long-term potential.
While certain coins may have real projects backing them, many are created as jokes or have no significant development plans. Seek clarity about the team’s identity and their level of involvement in the community.
A solid project foundation and an active development team may represent a more reliable investment opportunity.
If you decide to sell and buy meme coins, you can choose OK Exchange cryptocurrency exchange (ok-ex.io). It’s an Iranian digital exchange for buying and selling digital assets.
It’s safe, and it has low fees, so you can buy cryptocurrencies at OK exchange in the least amount of time.
The most famous meme coins
The shocking popularity of meme coins in recent years has gotten young investors excited about cryptocurrency and meme coin. Among all meme coins, Dogecoin and Shiba Inu are the most famous.
1.Doge
Doge coin was created as a joke for those obsessed with cryptocurrencies and takes its name from a popular Shiba Inu dog avatar.
But in 2020, it has become more popular due to endorsements from celebrities and entrepreneurs like Tesla CEO Elon Musk, Dallas Mavericks owner Mark Cuban, and even rapper Snoop.
2.Shiba
Shiba Inu is a token based on the Ethereum blockchain and the ERC-20 standard, which was created in August 2020 by an unknown person nicknamed “Ryoshi”.
The word Shiba Inu in Japanese is the name of the breed of hunting dog, whose exact image is seen in the Doge coin logo. Shiba Inu has been a challenge to Doge coin from the beginning.
This currency is known as the “Killer Dogecoin” and fans of this meme coin consider it to be a successor to DOGE. Since this currency is an ERC-20 token, it does not have its own blockchain
3.Bonk
Bonk is a token built on the Solana blockchain and functions in a decentralized manner similar to other popular cryptocurrencies such as Solana and Cardano, distinguishing itself as a meme coin and inspired by internet behavior patterns, jokes, and humor.
The Bonk token known as one of the Meme coins was launched on December 25, 2022. This crypto, like DOGE and SHIB, is inspired by the dog breed.
4.RATS
The RATS cryptocurrency is one of the meme coins because it has no value and no whitepaper or roadmap. But it distinguishes itself by having a series of unique features.
For example, compliance with the BRC-20 token standard presents the RATS token as a potentially valuable long-term asset.
The BRC-20 token standard acts as the backbone of the RATS token, which is one of the unique features of RATS.
Unlike some traditional tokens, the RATS token is dependent on Bitcoin for mining, transfer, and storage, which provides this currency with good long-term potential and value.
Conclusion
In the article, we said what meme coins are and which meme coins are the most successful.
A better strategy is to focus on investments that are likely to perform well over the long term.
Cryptocurrencies in general are still highly speculative, so no one knows how it will perform over time, but if you are investing in cryptocurrencies, make sure you choose currencies that have strong fundamentals and are more likely to stand the test of time.