Sara Gherghelas, a blockchain research analyst at DappRadar, explains how the lower barrier of entry associated with memecoins may have sparked the adoption of the crypto asset class.
Memecoins, also known as meme cryptocurrencies or meme crypto, are digital currencies inspired by popular internet memes. Several meme tokens with large market caps boast active communities, such as Dogecoin (DOGE), Shiba Inu (SHIB), which are based on the Doge meme, and PEPE, which was inspired by Pepe the Frog.
So, what is a memecoin? Memecoins are a type of cryptocurrency featuring an internet meme character for its logo. Memecoins may serve a variety of purposes — or none at all — as they are not always the same, but they can still be bought and sold like other digital assets on most centralized and decentralized exchanges.
If you are looking to buy memecoins, do so at your own risk, as they are widely seen as speculative and volatile assets, and trading them is seen as risky.
A bearish chart pattern suggests that PEPE could shave off another 70% in value, especially if the wider market continues to trend down.3251
Michael Kanovitz, a lawyer threatening to file a class action against Ben.eth, says the PSYOP scheme bear similarities to cases that have seen SEC enforcement.5174
Memecoins have come a long way from the early days of being joke cryptocurrencies.6573
Bitcoin’s NFT market is growing, but it is primarily driven by newfound hype for memecoin trading on the blockchain.3804
Top Pepe mania profiteers have dumped their PEPE tokens en masse, suggesting declining holding interest among whales.3116
Memecoins can be used as a form of currency, although their acceptance and stability may vary.805
As the crypto industry matures, the pressure is on for projects to offer more than just a catchy name or a meme-worthy mascot.30654
Pepecoin is a new meme-inspired cryptocurrency growing faster than Shiba Inu in its early days, thanks to some big-name exchange listings.11470
In a recent Cointelegraph Twitter poll, DOGE was voted as the memecoin that will have had the largest market capitalization by 2025, with PEPE coming in second place.4446
BTC continues to trade in a narrow range, and memecoins steal the limelight from NFTs as views on the macroeconomic outlook diverge.3148
Memecoins are back in the headlines as PEPE booms, taking the market capitalization of speculative tokens over $20 billion.5313
The price of the new frog-themed memecoin has surged more than 4,000% since its inception on April 14.12438
Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from all-time high levels.13830
According to ZachXBT, one alleged scammer in particular launched around 114 projects in the past 45 days alone.6826