Memecoins: definition, examples and all you need to know

What is a memecoin?

A memecoin is a type of cryptocurrency that originates from online memes, jokes or other viral content. Unlike traditional cryptocurrencies that often focus on solving complex technical problems in specific areas or improving blockchain infrastructure, memecoins are typically created for fun, satire or engagement around shared internet culture.

While they may start as lighthearted digital tokens, some have evolved into serious contenders in the crypto market, boasting large market capitalizations and passionate followings.

One of the first (and most iconic) example is Dogecoin (DOGE), launched in 2013 by two software engineers. Inspired by the popular ‘Doge’ meme featuring a Shiba Inu and comic sans captions, Dogecoin was initially created as a parody of Bitcoin and the explosion of altcoins. What began as a joke rapidly grew into a mainstream phenomenon during the 2021 bull run, thanks in part to celebrity endorsements and viral momentum.

At their core, memecoins aren’t about fundamentals or tech innovation – they’re about relatability, humor and shared identity online. Some serve as social commentary; others evolve into tokens with real-world utility. Whether viewed as a joke or a serious experiment in internet economics, memecoins have carved out a unique and enduring niche in the crypto ecosystem.

How do memecoins work?

Memecoins work like any other cryptocurrency in terms of infrastructure. Despite their origins, they’re built on real blockchain networks such as Ethereum (ERC-20 tokens) and Solana. These platforms provide the technical framework for token creation, issuance and transfer.

Memecoins are decentralized digital assets that use cryptography and distributed ledger technology to securely record transactions. Once launched, they can be listed on centralized or decentralized exchanges, where users can trade them like any other crypto token.

Tokenomics plays a big role. Dogecoin, for example, has an uncapped supply, with new coins minted continuously. Shiba Inu, on the other hand, began with an enormous supply and adopted a burn mechanism to increase scarcity over time.

But what truly sets memecoins apart is their social dynamic. While traditional tokens often depend on development teams and technical use cases, memecoins thrive on viral content, influencer attention, and mass participation. Enthusiasts on platforms like Reddit, Discord and X (formerly Twitter) often coordinate memes, discussions and even campaigns that drive price and visibility.

In essence, memecoins are powered not just by code, but by culture. Their success hinges on online engagement, digital identity and collective energy. When timing, humor, and momentum align, a memecoin can surge in popularity with incredible speed.

What is the purpose of memecoins? 

Memecoins may be playful by design, but they serve distinct purposes in the broader crypto landscape. One of the most prominent is social connection. These tokens frequently rally large groups around a shared identity or idea – creating digital communities with their own in-jokes, goals, and rituals. 

Supporting a memecoin can feel like joining a fandom, where token holders participate in online events and creative promotions.

They also serve as a speculative entry point. With relatively low initial costs and viral potential, memecoins appeal to those exploring high-risk/high-reward opportunities. Their simplicity and buzz make them especially attractive to newcomers testing the waters of crypto investing.

Finally, memecoins inject humor and culture into a space often seen as overly technical. They blend entertainment, irony, and digital experimentation in a way that lowers barriers and invites participation. Whether taken seriously or not, memecoins foster inclusion by offering a more relatable side of crypto.

Memecoins key characteristics

Memecoins stand apart from other cryptocurrencies thanks to a distinctive blend of cultural relevance, market behavior, and fan base power. Here are the key traits that define them:

• Humor and pop culture roots
  Memecoins are often born from trending moments. Their branding is lighthearted and relatable – think Shiba Inu dogs, cartoon frogs or even political figures.
  
• Sharp price swings
  Prices can skyrocket (or plummet) based on a single tweet from celebrities, meme or news headline. This makes memecoins incredibly risky but also potentially rewarding.
  
• Follower-driven nature
  Unlike traditional tokens backed by technology or roadmaps, memecoins depend on their loyal supporters to spread awareness, create content and drive adoption. A strong, active fan base is often more valuable than a use case.
  
• Speculative investment appeal
  Most memecoins offer little to no intrinsic utility. Instead, their value comes from market hype, media attention, and FOMO (fear of missing out), attracting both risk-tolerant investors and casual participants.

Why do people buy and invest in memecoins?

Memecoins have attracted attention from crypto users for a variety of reasons – not least their unpredictability and cultural relevance. Some people are drawn to memecoins because of their association with viral trends and online communities. 

Being part of a memecoin project often means engaging with an enthusiastic group of supporters on platforms like Reddit or X. The sense of community can be a major appeal, especially for those interested in internet culture and digital movements.

As mentioned, others view memecoins as part of a speculative segment of the crypto market. Memecoins have been known to experience dramatic price fluctuations, and this volatility has historically led to periods of rapid growth. However, such market behavior also comes with significant risk, which is why careful research is essential before getting involved.

Some users explore memecoins as a way to diversify their crypto exposure, often alongside more established cryptocurrencies. Tools like Crypto Basket offer a way to explore themed collections of assets within the Crypto.com ecosystem.

It’s important to note that memecoins aren’t guaranteed to hold or increase in value, and are often influenced by hype and sentiment. Anyone considering them should understand the risks and only proceed with a clear understanding of what they’re engaging with.

How to buy memecoins

Buying memecoins has become more accessible thanks to modern crypto platforms, especially through the user-friendly Crypto.com App. Whether you're curious about Dogecoin, Shiba Inu, or another viral token, here’s a step-by-step overview of how people typically get started.

Note: This is a general informational guide. It’s not financial advice. Always do your own research before engaging in crypto transactions.

1. Download the Crypto.com App

Head to the App Store or Google Play and install the Crypto.com App. Our platform supports a wide range of cryptocurrencies, including many leading memecoins.

2. Register for an account

Set up your account by providing your email, a secure password and completing identity verification. This ensures regulatory compliance and account security.

3. Deposit money into your account

Once verified, you can fund your account. Supported options include bank transfers, credit or debit cards, and crypto deposits from external wallets.

4. Search for a memecoin

Navigate to the search bar within the app and type in the name or ticker of the memecoin you’re interested in. You’ll find real-time price charts, project descriptions, and trading pairs. Crypto.com uses multi-layered security protocols and a user-friendly interface to help you explore crypto confidently and conveniently.

5. Buy your memecoins

Choose how much you'd like to buy, review the transaction details and confirm the purchase. Once complete, your memecoins will be stored in your in-app wallet.

Before making any crypto purchase, ensure you understand the risks, including price volatility and market fluctuations.

Most popular memecoins

While hundreds of memecoins exist, only a few have stood out due to their strong social following, viral momentum, and media attention. Here are some of the most talked-about tokens in the space:

1. Dogecoin (DOGE)
2. Shiba Inu (SHIB)
3. Pepe (PEPE)
4. Bonk (BONK)
5. Floki Inu (FLOKI)
6. Official Trump (TRUMP)

1. Dogecoin (DOGE)

The original memecoin, launched in 2013, Dogecoin was created as a joke based on the Shiba Inu ‘Doge’ meme. Over time, it gained widespread popularity – especially after endorsements from Elon Musk û and now ranks among the top cryptocurrencies by market cap.
See Dogecoin price chart

2. Shiba Inu (SHIB)

Billed as the ‘Dogecoin killer’, Shiba Inu is an Ethereum-based token that gained traction in 2021. With a massive token supply and an active developer community, SHIB has since evolved into a broader ecosystem that includes non-fungible tokens (NFTs) and decentralized finance (DeFi) features.

See Shiba Inu price chart

3. Pepe (PEPE)

Inspired by the iconic Pepe the Frog meme, this token exploded in popularity as a community-driven project in 2023. Known for its fast rise and meme-heavy branding, PEPE became a speculative favorite almost overnight.

See Pepe price chart

4. Bonk (BONK)

Bonk is a dog-themed memecoin native to the Solana blockchain. It gained traction through community airdrops and positioned itself as “for the people, by the people”, helping to revive interest in the Solana ecosystem.

See Bonk price chart

5. Floki Inu (FLOKI)

Named after Elon Musk’s dog, FLOKI combines meme culture with serious aspirations. The project includes plans for an NFT metaverse, educational platforms and DeFi utility.

See Floki Inu price chart

6. Official Trump (TRUMP)

A politically themed token that emerged around US election discussions, this memecoin has seen speculative trading volumes and media attention, though it remains highly volatile.

See Official Trump price chart

How to create a memecoin

Creating a memecoin is technically straightforward, but gaining traction requires much more than writing code. Most memecoins are built on existing blockchain platforms like Ethereum and Solana, using token standards such as ERC-20 and SLP, respectively. With token creation tools like launchpad, anyone can create a new token in minutes, without coding language.

However, the real challenge is building a fan base and creating cultural relevance. A memorable name, eye-catching logo, and clever meme strategy can go a long way. Marketing plays a huge role. Social media platforms are essential for viral backing. Influencer support and meme-worthy content help fuel visibility.

In short, while the technical barrier to entry is low, creating a successful memecoin depends on timing, creativity, and follower hype – not just code.

Memecoins vs altcoins: What’s the difference?

While memecoins are technically a subset of altcoins, they differ in terms of purpose, perception and market behavior.

Altcoins (short for ‘alternative coins’) refer to any cryptocurrency that isn’t Bitcoin. This includes a wide range of projects, from Ethereum and Solana to tokens powering DeFi, NFTs or blockchain infrastructure. Most altcoins aim to solve technical problems, offer real-world utility, or improve upon existing crypto networks.

Memecoins, on the other hand, are typically created around internet memes, humor or cultural references. They often have no clearly defined use case beyond being traded and talked about. Their value is largely driven by social enthusiasm, media buzz and viral trends.

Memecoins are highly speculative and tend to be more volatile than utility-focused altcoins. However, their strong communities and viral potential have led some to gain massive followings. While altcoins focus on function, memecoins thrive on attention.

What are the risks of memecoins?

Memecoins come with a unique set of risks that potential buyers should fully understand before getting involved. Unlike many traditional crypto assets that are built around a clear utility or development roadmap, memecoins are often driven by hype, humor and social media momentum, which makes them inherently volatile.

1. High volatility and price fluctuations

Memecoins are known for dramatic price swings. A single tweet or meme can cause a massive spike or crash in value. Since their prices are often untethered from fundamentals, memecoins can be unpredictable and speculative.

2. Regulatory uncertainty

Memecoins may not fall under clear legal classifications, which means they could be subject to sudden changes in regulatory treatment. This includes potential delistings, trading restrictions or legal action depending on your jurisdiction.

3. Scams and fraud

Due to their viral nature, memecoins have been associated with ‘rug pulls’ and pump-and-dump schemes. Some projects may appear legitimate but are designed to exploit buyers by inflating the price and then disappearing with funds.

4. Overreliance on grassroots support

Since memecoins often lack technical utility, their survival depends heavily on community enthusiasm and media attention. If the social buzz fades, the token’s value can drop just as quickly as it rose.

5. Lack of transparency or development

Many memecoin projects don’t have a public team, clear roadmap or open-source code. This makes it difficult to evaluate long-term sustainability or credibility.

Before interacting with any memecoin, it’s important to conduct thorough research, assess your personal risk tolerance, and never invest more than you’re willing to lose.

The regulation of memecoins

The regulatory landscape surrounding memecoins is still evolving, with many jurisdictions yet to define clear rules for these types of assets. Because memecoins often lack formal utility or a centralized development team, they may not fit neatly into existing regulatory categories.

In some regions, memecoins could be classified as securities if they’re perceived to promise financial return, which would subject them to stricter compliance measures. However, many memecoins operate in a legal gray area, especially those launched anonymously or without a clear use case.

Regulators are increasingly paying attention to memecoins due to their high volatility, speculative nature, and potential for scams. Future regulations may focus on greater transparency, investor protections, and clearer classifications.

As with all crypto assets, it’s important to stay informed about local laws and evolving global guidance. Always use reputable platforms that follow regulatory standards to reduce risk when buying or trading memecoins.

What's the outlook for memecoins?

The future of memecoins remains uncertain, but undeniably interesting. As long as internet culture continues to influence digital behavior, memecoins are likely to maintain a presence in the crypto market. While many projects may fade as trends shift, those with strong communities and creative branding could evolve into longer-term ecosystems.

Some memecoins are already exploring utility-based features, such as NFT integrations, gaming and DeFi tools. This shift may help certain projects move beyond short-term hype and toward more sustainable value. That said, memecoins’ outlook depends heavily on follower engagement, market trends and how global regulations take shape.

For users, memecoins may serve as an entry point into crypto or a cultural investment, but they should be approached with caution and curiosity. As always, staying informed and mindful of the risks is essential in this rapidly evolving space.

How to buy memecoins on Crypto.com

1. Download the Crypto.com App
2. Explore popular memecoins today
3. Diversify your portfolio with Crypto Basket
4. Securely trade and invest with Crypto.com

FAQs

What are memecoins and how do they work?

Memecoins are cryptocurrencies inspired by internet memes, viral jokes or pop culture trends. They operate on blockchain networks just like other tokens and are often traded on major crypto platforms. Their value is usually driven more by community hype and social sentiment than technical fundamentals.

Is a memecoin a good investment?

That depends on your goals and risk tolerance. Memecoins can experience rapid price increases, but they are also highly volatile and speculative. It’s important to research carefully and understand that these tokens can lose value just as quickly as they gain it.
Are memecoins legal?

It depends, as regulations can vary by country. Some jurisdictions are beginning to evaluate how memecoins fit into broader financial frameworks. Always check local laws and use regulated platforms to stay compliant.
How can I create a memecoin?

Anyone with basic coding knowledge or access to token creation tools can launch a memecoin on networks like Ethereum or Solana. However, building a successful one requires strong branding, viral marketing, and an active community. Technical creation is just one part of the process.

What is an example of a memecoin?

Dogecoin (DOGE) is arguably the original and most well-known memecoin, created as a joke in 2013. Others include Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK), each with its own meme theme and social fan base. These tokens have gained popularity through viral exposure and online engagement.

Do memecoins have a future?

Memecoins will likely remain part of the crypto ecosystem as long as internet culture influences digital finance. While many projects fade quickly, others continue to grow and even add real-world use cases. Their future depends on evolving trends, community support and regulatory developments.

Important information: This is informational content only and should not be considered as an investment recommendation. Trading cryptocurrencies carries risks, such as price volatility and market risks. Before deciding to trade cryptocurrencies, consider your risk appetite.