The post Why Meme Coins Need Quality Market Makers With Advanced Algorithms Rather Than Token Dumpers appeared on BitcoinEthereumNews.com.

It had to happen.  As society has become more and more intertwined with social media, and finance has become more and more tech-savvy, the intersection of pop culture and finance was bound to intersect.  Instead of a nice synergy of two ideas, it had more the feel of a head on collision, and meme coins were born.  While the first meme coin of large-scale fame is Dogecoin (DOGE), many have followed in its wake.  In the case of Dogecoin, what first started as a joke to make crypto sound ridiculous turned into a cult following, which turned into the same heartfelt community that raised funds so the Jamaican bobsled team could attend the 2014 Olympics.  From this surprise success, many others have followed, with the trend even backflowing into traditional finance with the “meme stock” that was Gamestop. But why have meme coins taken on a life of their own, why have they created such controversy, and what role can they play in legitimate finance? Let’s find out. Why Are Meme Coins Part of Today’s Society? The idea of a meme coin is indeed preposterous, and at the same time more honest than many financial instruments and collectibles. To create value out of what is essentially a meme, or a short lived joke, is similar to any other fad.  The Tickle-Me-Elmo’s, the POG’s, the fast fashion trends. All of these are money making ideas born out of a spike in popular interest, and nothing more. What is interesting about meme coins is the intersection with legitimate financial tools. The world of cryptocurrency has democratized our ability to make a digital, fungible currency with a set mint volume and circulation. Instead of someone having to quickly design and mass produce a product that leverages a fast moving meme, team’s can make…

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Filed under: News - @ July 31, 2024 7:58 am