Meme Coin

Meme coins are a form of cryptocurrency inspired by memes, jokes, and interesting or funny ideas in an image or video medium. The first meme coin created was Dogecoin (DOGE).

Similar to other forms of cryptocurrencies and digital assets, meme coins use blockchain technology as their foundation. However, in comparison with major cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH), meme coins tend to exhibit higher-than-normal volatility. This is largely due to their susceptibility to social media influence and online community sentiments.

Meme coins are often traded or collected by those who want to be a part of the joke. But they can also rise sharply in price in accordance with their popularity, making them a potential value prop. Examples of the most popular meme coins: Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), Floki (FLOKI), and Samoyedcoin (SAMO).

Key Takeaway

Meme coins are a type of cryptocurrency inspired by memes and internet jokes.

Related Words

Market Cap

Market cap refers to the total dollar value of a cryptocurrency in circulation. It is calculated by multiplying the token price by the total number of tokens.

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Circulating Supply

Circulating supply is the amount of a cryptocurrency currently on the market. The number can grow or shrink for various reasons.

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TradFi

Traditional finance, or TradFi, is a conventional approach to financial activities that relies on established institutions, such as banks, insurance companies, investment companies, and stock exchanges.

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Collection Value

Collection Value is the aggregated monetary value of all the NFTs in a collection.

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NFT Sales Volume Index (7D)

The NFT Sales Volume Index (7D) shows the price and number of editions of a non-fungible token (NFT) collection sold over a 7-day (7D) period.

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Crypto Asset

Crypto assets are transferable digital representations of value made possible by cryptography and blockchain technology.

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24H Volume

24H Volume shows the number of a cryptocurrency’s tokens traded over a 24-hour time frame.

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7D

7D, short for seven days, refers to price data that has been collected for a cryptocurrency over a 7-day period.

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Floor Price

Floor Price is equal to the lowest-priced NFT in a collection.

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Gas (ETH)

Gas is the cost of a transaction on the Ethereum network.

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