{"id":291,"date":"2023-08-10T13:30:44","date_gmt":"2023-08-10T13:30:44","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=291"},"modified":"2023-08-10T09:32:49","modified_gmt":"2023-08-10T09:32:49","slug":"what-are-meme-coins-why-are-they-rise","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-are-meme-coins-why-are-they-rise\/","title":{"rendered":"What Are Meme Coins? Why Are They Rise?"},"content":{"rendered":"

We have been using cryptocurrencies for tens of years. Cryptocurrencies are used on the other side as databases, borrowing, lending, trading, etc.<\/p>\n

Meme coins are also a kind of cryptocurrency. Although they are not using the services, they are so popular, especially nowadays. Probably the main reason for this is the PEPE coin.\u00a0<\/strong><\/p>\n

Actually, they are tools that they use for making money. These days we are seeing many cryptocurrencies are targets of the SEC (Securities and Exchange Commission).\u00a0<\/strong>That’s why maybe they will be limited products.<\/p>\n

This blog contains about information of them and the main reasons for their risings.<\/p>\n

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Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n

  • What Are Meme Coins?<\/a><\/li>
  • How Meme Coins Became Popular?<\/a><\/li>
  • Why Are They Rise Up?<\/a><\/li>
  • Are They Secure?<\/a><\/li>
  • You Must Pay Attention To These Factors\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n

    <\/span>What Are Meme Coins?<\/strong><\/span><\/h2>\n

    Meme coins were created as inspired by internet memes. Mostly they are common on Twitter and Reddit. I mean these memes spread and were popular on the platforms.<\/p>\n

    They don’t belong to their own blockchains, they are minted on other blockchain networks. The most common networks for a minting process are Ethereum<\/strong> and Solana<\/strong>. The most popular memecoins on Ethereum are Dogecoin<\/strong> and Shiba Inu<\/strong>, but on the Solana network is BONE Token<\/strong>.<\/p>\n

    Generally, they have a huge supply, that’s why they have a lot of “0” in their own prices. Whales or some institutional companies can manipulate these coins’ prices. Hence we must pay attention to these factors and situations.<\/p>\n

    Additionally, they have incredible volatility. For example, Dogecoin’s price. The price sometimes can down or up so fast. If you protect your own assets you must attend.<\/p>\n

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    <\/span>How Meme Coins Became Popular?<\/strong><\/span><\/h2>\n

    As said on the top meme coins became popular thanks to Reddit<\/strong> and Twitter Community<\/strong>. In general, meme coins were building and developing in there.<\/p>\n

    Actually, everything started with 2 companies:\u00a0GameStop\u00a0<\/strong>and\u00a0AMC Entertainment.\u00a0<\/strong>They said that their stocks’ prices rise up rose 100 times thanks to meme coins. Later on, started creating them on the market.<\/p>\n

    One of the popular meme types is a dog theme (Dogecoin, Shiba, Floki, Kishu Inu). <\/strong>The main reason for this is Elon Musk. Because he has a dog that has the Floki<\/strong> Inu<\/strong> breed. <\/em><\/p>\n

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    The new CEO of Twitter is amazing pic.twitter.com\/yBqWFUDIQH<\/a><\/p>\n

    — Elon Musk (@elonmusk) February 15, 2023<\/a><\/p><\/blockquote>\n