Explore Meme

Understanding meme coins

Meme coins typically refer to tokens that gain popularity due to their meme-worthy nature and are driven by internet culture. It's easy to write meme coins off as pointless and of no substance however, they often have the strongest network effects of any crypto vertical. They are essentially proxies for communities with the participants sharing a deep connection to internet culture.

Successful meme coins tend to share similar traits:

• High entertainment factor
• Virality and memorable branding
• Very low price per token
• Connection to internet culture and social trends

I'll be rich when it hits $1

It's no accident that meme coins start with a very low price. Lower-priced tokens can attract retail investors who like the idea of owning a large number of tokens and the fantasy of the price one day reaching $1 (even when that would require the market cap to eclipse the GDP of the G7). A low price also creates a perception of affordability and inclusivity.

Such wow, very doge, much meme

Dogecoin is the OG meme coin. Created in late 2013 by Billy Markus and based on the viral Shiba Inu "doge" meme it rose to popularity initially through Reddit users tipping each other in Dogecoin. Its accessibility and light-hearted nature led to explosive growth over the years and proponents such as Elon Musk have made Dogecoin one of the most recognised cryptos in existence.

Dogecoin set the blueprint for all meme coins and copycats like Shiba Inu have also seen very wide adoption

Meme coins on Solana

The low cost and speed of Solana transactions have further increased the accessibility of meme coins for users. Anyone with any portfolio size can participate in Solana meme coins because the barrier to entry is much lower than on other chains.

Bonk – Dogecoin of Solana

Bonk is the most successful meme coin on Solana to date. Created by 22 anon contributors to inspire the Solana ecosystem after the collapse of FTX. Bonk's creation aimed to invigorate the downtrodden Solana community by airdropping a large number of tokens widely across the ecosystem. The success of Bonk has led to an explosion of meme coins on Solana.

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Risky business

Trading or investing in meme coins comes with significant risks. They are purely speculative and prices can be extremely volatile. There are also many scam tokens trying to take advantage of inexperienced crypto users. You should be very cautious and conduct thorough research before messing with meme coins.