Since the first meme token, DOGE, was established in 2013, meme coins have certainly caused quite a stir in the crypto space. Since then, hundreds of meme coins have been created with many traders investing and hoping to profit. These meme-based coins have distinguishing features that set them apart from other cryptocurrencies.
In this article, we have given a beginner’s guide to meme coins to help you understand them.
What Is a Meme Coin?
A meme coin is a cryptocurrency that is inspired by a meme. This could be humour captured in an image, video, or other forms of media. Meme coins differ from standard crypto coins in that they frequently serve no purpose other than to be shared. These coins are also generally uncapped in supply, making them extremely volatile and appealing to many traders. Aside from that, meme coins are similar to standard cryptocurrencies and can be traded on cryptocurrency exchanges.
Popular meme coins were created as a fun alternative to mainstream cryptocurrency, and some, like Dogecoin, were created solely to mock the crypto-related hype. As more meme coins circulate, creators have specific projects and purposes in mind, leading to the creation of meme tokens for video games, charities, and online marketplaces. Even businesses, such as Tesla, GameStop, AMC Entertainment, and Nordstrom, are now accepting meme coins, with more expected to follow in the coming years. This guide to meme coin will help you understand more.
What Are the Top Meme Coins?
Many meme coins are competing in the crypto world, but only a few are well-known in the community. Here is a list of the most popular meme coins to consider investing in.
Dogecoin
Dogecoin, the ‘original’ meme coin, was founded in 2013 and has undoubtedly agitated the cryptocurrency community in recent years. The coin’s creators claim that it was created as a joke to mock the hype surrounding cryptocurrencies.
Battle Infinity
This coin is a new competitor in the meme coin races, which have already created quite a stir in the crypto world. Battle Infinity is a gaming platform in which players compete in P2E (pay-to-earn) games to earn rewards. Players can purchase the platform’s native token – IBAT – or convert their rewards into other currencies via the platform’s decentralized exchange, Battle Swap.
Shiba Inu
SHIB is a popular Dogecoin meme coin that has been dubbed the “Dogecoin killer” by supporters. Shiba Inu, created in 2020 by an anonymous group under the pseudonym Ryoshi, is built on and powered by the Ethereum network. SHIB was created to be the first token that is entirely managed by its community (dubbed the Shib Army) and began with a supply of one quadrillion.
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