Follow On Google News

What Are Meme Coins | Leading Meme Coins: Dogecoin, ShibaInu

22 Dec 2021 By : Shreya Vyas
Southeast Asia’s Lar

Meme Coins

Meme coins have a special name called cryptocurrencies. In a very short time Meme coins gained a lot of fame in the world. The fame gained by the meme coins is the result of the investment that investors are investing in it. They are investing a lot of money to give great hype in the world. Meanwhile, also the influencers are doing their job in promoting the meme coins.

This cryptocurrency is based on a meme of dogs. The breed of Japanese dogs back in 2013. At first, people make fun of Dogecoin to poke fun at cryptocurrency.

The evolution of Meme Coin and the story behind that

Back in 2013, the first Meme Coin was established. People at that time considered it a joke.

People didn’t give attention to the first MemeCoin as they thought of it as a joke and made fun of it instead of investing in it. After the tweet of a famous person, people considered it a special thing and invests money in it. It was first made to make fun of a Dogecoin and to poke it.

The name given to that Meme Coin was Dogecoin. The Meme Coin earned fame after the tweet of a famous person named Elon Musk. And, after his tweet investors started paying heed to it. And then they bought it in droves.

The first meme coin was the revolution of two engineers. Relocating the result of this creation, a number of other memes coins were created by the people. The Dogecoin was created on a popular meme about the famous breed of Japanese dogs.

After that, the Shiba Inu meme coin was created in 2020. It was basically revolutionized to depose the fame of Dogecoin. Toshiba Inu was not very famous at the start but the price has increased immensely in 2021.


Leading Meme Coins

 There are some leading Meme Coins in the world. These are as follows.

        Dogecoin

The price of the dogecoin is 0.2052 dollars. The market cap of this is so high nowadays. In the last seven days, the price of this Meme Coin has gradually decreased but it is still on the top as the market value of this Meme coin is very high.

        Shiba Inu

The second most expensive Meme Coin in the world is Shiba Inu. The price of this coin is almost 0.00003872 dollars. The market cap value of this Meme Coin is a little bit lower than Dogecoin. But still, it is the most famous coin in the world. In the last seven days, the price of this meme Coin has decreased.

        Donelon Mars

This coin has the third position on the world's most expensive Meme Coin chart. The price of this coin is nearly 0.000001312dollars. The market cap is again less than both of them that’s why it is present at the third due to the market cap. The previous seven days were not good for that Meme coin as the graph of the tic coin moves downward.

So, the above three are the most expensive MemeCoins in the world.

 

How do Meme Coins Derive Their Value?

Meme Coins earned great importance in the world. People are investing a lot of money in it. It is now becoming a business for investors. Because it gives a great profit to the investors. The Meme Coins are a famous cryptocurrency. It is now leading the world's in cryptocurrency.  After Bitcoin and Etherium, the Meme Coin gets great attention from the people.

The Meme Coins are the most volatile coins of the century. The volatility factor is considered a very important factor in cryptocurrency. The Meme Coins gets a lot of fame from the social media ad hype that was created by the influencers to make it famous. 

These Meme Coins are also considered a highly community-driven weapon. The Meme Coins are also dependent on the community's strength. All the growth and success gained by these coins are due to their strength in the community.

But now if we see overall, the Meme Coins are so many Meme Coins nowadays. And these are highly considered highly community-driven weapons. Due to this, the new coin has also the opportunity to gain success in the world and stand up first in the Meme Coins.

Internet memes can basically be anything of mainstream society on the web, however, they are most popular as viral jokes, pictures, or recordings. While their impact on mainstream society and legislative issues has been ascending for quite a long time, their impact on overfinance has recently started. One can invest in Meme Coins without the need to start an actual business.

Cryptographic money value stays somewhat of a closed book. Specialists actually don't completely see how cryptographic forms of money ought to be valued, central information that could shield purchasers from speculative air pockets.

Goldstein Said “stocks can be analyzed very easily as the frameworks are available for the fallback on.

 

Why Prices are increasing and decreasing suddenly?

There is a huge fluctuation in the price of Meme Coins on a daily basis. That’s why there is a lot of risk in this business. Because the prices can fall down anytime. So, there is always a financial risk in the Meme Coins.

 

Supply and Demand

The price of the Meme increases as the demand for that coin increases. The value of the Meme Coin can be determined by the demand for that coin in the world. As the utility of the Coin increases it also affects the price and the price increases due to its utility.

The price of Meme Coin decreases as new coins are established in the world. If the demand for the specific Meme Coin is less then the price will decrease quickly and easily. So, the demand matters a lot in this business. And the demand is driven by the community

 

production cost

The Meme Coins are produced through some process of mining nowadays. As the mining costs increase the value of that coin also increases and if the mining cost is less the value is decreased by the original value of that coin.

 

Competition

Today there are a lot of Meme Coins. So, there is a lot of competition between the Meme Coins. That makes the cost increase or decrease gradually. So, the prices are heavily dependent on the competition.

 

Exchanges Availability

Another factor that affects the price of MemeCoins is Exchanges Availability. Meme Coins having a higher value can be exchanged with Meme Coins having a lower value. In this way the price of MemeCoin Fluctuates between bigger and smaller Meme Coins.

 

Governance Factor

The governance factor also plays a great role in determining the price of Meme Coin. All the investors of the Meme Coin are in the favor of stable governance. In stable governance, the price of MemeCoin will be stable.

 

Latest  Disruption in the Value Of Meme Coin

The Meme Coins are financially considered highly risky. The value mainly depends on the demand of the people. It means that if the demand is less than that, the Meme Coin has no value in the world. There is no underlying purpose for the Meme Coin. So, this is the main disruption in the value of the Meme Coin. So, there is a need to increase the demand to cut of disruption of the Meme Coin.


Few instances of losses like Squid Games Coins

The Squid Game is a popular Netflix series. The theSquid Game coin collapsed after the scam named rug pull. So, the value of the squid Game becomes zero after this gamble. A very large type of investment is shattered in minutes. The values collapse suddenly after the gamble. So, investors face a big loss of millions of dollars in this scam.

Conclusion and Caution

At the end of the article, we conclude that there are advantages and disadvantages of the Meme Coin. So, it depends on the investor if he wants to invest or not. It can give a high ratio of profit to the investor. And some investors are gaining million-dollar profits from the meme Coins.

The only thing you have to look for in buying the Meme Coin knows the market demand of that Meme Coin. If the demand is very high then it can give you a lot of profit. So, keep in mind the demand factor.

Meme coins are means for immediate profit or loss. We at www.coingabbar.com advise that one should be very careful and keep in mind their individual risk capacity before investing.

WHAT'S YOUR OPINION?