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Disclosure: This is a sponsored post. Readers should conduct further research prior to taking any actions. Learn more › In the popular tradition of sticking it to the man, meme coins have emerged as the ultimate one finger salute. Meme coins are seen by retail buyers as a way to invest in something outside the normal accepted traditional finance and even established crypto worlds. They are an opportunity to support something that could put them on the ground floor of a big project – even though the vast majority of meme coins dwindle to nothing. Beloved by self-named degens (originally degenerates), meme coins have grown in popularity since the appearance of the grandfather of meme coins, Dogecoin (DOGE) in 2013. Dogecoin is to the memecoin space what Bitcoin is to cryptocurrency. Dogecoin was created as a fun alternative to Bitcoin, featuring the Shiba Inu dog from the popular “Doge” meme as its logo. But do not be fooled, a dedicated following, real value and an enduring community keeps this OG of meme coins very much alive. According to DEX aggregator data, every day between 40,000 and 50,000 new crypto tokens are created; this can reach 100,000 during periods of intense viral hype. Solana leads with 17 to 20 thousand new tokens a day. What drives the meme coin boom? Popular opinion suggests that meme coins are just parts of a colorful blockchain-based casino, with retail investors choosing interesting coins like lottery tickets, knowing that although the chance of going 100x your investment is small. They are also a bet on future attention. When you choose between coins like $WIF or $POPCAT, you are basically trying to guess which viral meme can get the most eyes on it and provide the biggest gains. Meme coin projects can emerge from many sources…

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Filed under: News - @ September 9, 2024 10:26 am