Meme Coin

Meme coins are a type of cryptocurrency that emerged from internet humor and entertainment, gaining rapid popularity in 2024. Created on blockchain platforms, they are considered altcoins and often have low market value with limited utility. Investing in meme coins carries high risk, resembling gambling due to their susceptibility to scams and hacks, as well as a lack of technological sophistication. Despite these risks, they attract a large user base and offer potential for quick growth, enabling low-cost investments and providing entertainment. However, their volatility, absence of substantial backing, and vulnerability to pump-and-dump schemes pose significant disadvantages. Notable examples of meme coins include Dogecoin, Shiba Inu, and Pepecoin.