Meme coin
A meme coin (also spelled memecoin) is a cryptocurrency that becomes an Internet meme or other joke.[1] It may be used in the wade sense like a critique of the cryptocurrency market etc. This term is often used in a humorous tone. Compared to real cryptocurrencies, they are not significant. Supporters, on the other hand, say that some meme coins have reached high market capitalizations.[2]
In late 2013, Dogecoin was created as a joke on the Doge meme by software engineers. This started the creation of several next meme coins. In October 2021, there were about 124 meme coins circulating in the market. Notable examples is Dogecoin and Shiba Inu.[3]
Some countries start to regulate meme coins. In early 2021, Thailand Securities and Exchange Commission banned meme coins as part of an end to digital goods with "no clear objective".[4]
Meme coins became popular since Elon Musk validated the use of Dogecoin, one of the first meme coins. He continues to post tweets about Dogecoin in 2022.[5]
Moreover there are meme tokens. Tokens differs from coins as the first ones does not have their own blockchain and work in blockchains of other coins (e.g. Shiba Inu).
References change
- ↑ "meme coin - Slang Dictionary". Dictionary.com.
- ↑ "What are meme coins, floki currencies and Dogecoin-killers?". Times of India. 22 October 2021.
- ↑ "What are meme coins, floki currencies and Dogecoin-killers?". Times of India. 22 October 2021.
- ↑ "Thailand bans meme coins and NFTs as part of crypto crackdown". Engadget. Retrieved 2021-07-11.
- ↑ "If Elon Musk wrote this, the headline would be a meme & Dogecoin fortunes would've changed". ThePrint. 2021-06-12. Retrieved 2022-02-07.