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Meme coins are a type of cryptocurrency that is not typically created to solve a serious technical problem or have a specific utility; rather, they are based on internet jokes, memes, or pop culture. Although they started out as a joke, their influence and market cap in the current crypto market are huge.

1. Characteristics of Meme Coins

Meme coins differ from regular cryptocurrencies (such as Bitcoin or Ethereum) in several ways. Most meme coins have a supply in the billions or trillions. For example, Shiba Inu (SHIB) has a supply of about 549 trillion. Due to this huge supply, each of them is usually worth less than a penny. They are extremely volatile. Their price can increase by 100% or drop to zero in just a few hours. The price of meme coins depends mainly on the frenzy of social media (Reddit, Twitter/X) and the vast online community. A tweet or comment from an influential person can radically change the fate of a meme coin.

2. Notable Meme Coins

Dogecoin (DOGE) is the world's first meme coin, created in 2013 to mock Bitcoin. Its logo is a picture of a dog breed 'Shiba Inu'. After becoming known as the favorite coin of Tesla chief Elon Musk, it has yielded hundreds of times the profit and is currently one of the top ten cryptos in terms of market cap. Shiba Inu (SHIB) comes to the market claiming to be the 'Dogecoin killer'. It is based on the Ethereum network. Shiba Inu is currently trying to transform itself from just a meme coin to a powerful project by creating its own decentralized exchange (ShibaSwap) and L2 network 'Shibarium'.

3. Impact of Meme Coins on the Market

Since the price of meme coins is very low (i.e. thousands of coins are available for 1 taka), new and young investors easily enter the crypto world. This makes the common people interested in learning about blockchain technology. During bull markets, there is an incredible amount of trading in meme coins. Sometimes the volume of meme coins on major exchanges (such as Binance or Coinbase) even exceeds Bitcoin. This helps increase liquidity in the entire crypto market. Meme coins are often subject to manipulation. Large investors (Whales) artificially increase the price and sell to the common people. This causes many small investors to lose everything. Sometimes projects with real technological innovations fall behind in the meme coin craze. People bet on meme coins instead of good projects in the hope of getting rich quick.

4. Investment Risks and Cautions

Investing in meme coins is a lot like a lottery. It can change fortunes overnight, or even wipe out all your money. Most meme coins have no real use. When the social media hype dies down, there is no solid foundation to support the coin’s price. Sometimes, meme coin developers suddenly disappear with all their funds.

Conclusion

Meme coins are a fun but very risky part of the crypto world. They are a strange intersection of digital culture and the financial sector. While Dogecoin or Shiba Inu have now established themselves as a strong presence in the market, thousands of new meme coins are being created every day, 99% of which eventually become worthless. Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

Me behind the camera & keyboard

I’ve always loved sharing my passions with you — from crypto and movie reviews to photography, storytelling, and blogging. Now, continuing that creative journey, I’ve stepped into a brand-new world — Gaming ! 🎮 | 🎥 On my YouTube channel Bokhtiar The Survivor — I’m consistently working to bring you the raw thrill of my gaming experiences — the emotions, the excitement, and those unforgettable moments that make every game feel alive.