Understanding Memecoins: A New Phenomenon in Crypto

[Mr. Magkaisa]

What are the underlying factors driving their popularity? How do memecoins differ from traditional cryptocurrencies?

really it just comes down to a speculation at the end of the day, back then at the age of ICO before meme coins are this popular people are speculating on altcoins, though speculation on altcoins still pretty much going on till these days but there are people that prefer meme coin because they are trying to find a hidden game that starts from zero and reached hundreds millions of market cap, people snipe because they want to have a share of cake of that meme coin that could become big in the future.

just imagine buying with $500 already allows you to own few percentage of total supply of meme coin at its early phase, if the meme coin got somehow valued with market cap of $50m and beyond, you already making good money, but since meme coin landscapes right now are deploying thousand of meme coins a day through platform like pumpdotfun then the chance of getting such hidden gem probably 1/10000 and it's getting worse each day.



the recent update of pumpdotfun which is the biggest meme platform in solana will just make things worse as I've said earlier, so many people will create meme coin just to get that 0.5 SOL, i'm pretty sure it will destroy the entire meme coin ecosystem.

        -      Wasn't there a hacking issue at PumpDotFun? That's where the platform was abused, as far as I know. Although it's really cheap, less than 2 dollars can create your own meme coins immediately on that platform. So many meme coins are released every hour or every day; thousands of meme coins are created like that.

That's why, in this era, we have to be careful when choosing the meme coins that we invest in; most of them are just hype and rugpull most of the time.

[peter0425]

What are the underlying factors driving their popularity?

Memes are popular jokes or characters in social media. These memes are usually very popular among communities since they are usually inside jokes. Because of strong community, these memecoins usually become successful. Though it should be noted that since they are practically created due to memes, there is no really real purpose behind which makes them driven by hype alone.

How do memecoins differ from traditional cryptocurrencies?

There is not much difference technically between traditional crypto and memecoins. Memecoins are just categorized differently due to the idea they represent which are memes.

[beerlover]

What are the underlying factors driving their popularity?

Memes are popular jokes or characters in social media. These memes are usually very popular among communities since they are usually inside jokes. Because of strong community, these memecoins usually become successful. Though it should be noted that since they are practically created due to memes, there is no really real purpose behind which makes them driven by hype alone.

You are 100% right that community is the important figure here. I mean we are talking about tokens who build a community first via the meme world, they meme it and people who love that meme and use it end up being the community of it and THEN they make a token of it which means that when the token starts there is a community to hype it already so they do not have hard time marketing it.

However, we need to remember that there are thousands of them stealing from each other too, like how Ape ended up big right, and Doge was always big, and Pepe became big these are all valid, I wouldn't invest into them but they are valid, but then what happened? Someone made Apepe, or DogeApe, or Dogepepe whatever, these type of shitty tokens end up not being that great, which is an issue and I think we need to be careful with those ones, because most of the time they are not looking like they are going to be profitable and yet there are people invest into these.

[MainIbem]

one thing that make them popular is they have low barrier of entry, memecoins are often priced low, making them accessible to a broader audience, including new and small-scale investors who might be looking for "the next big thing", but i read somewhere that only 15 out of 1.4 million memecoin is success. that mean to much popularity that some people take advantage of that to creating pump and dump scheme. also influencer lot of them promoting memecoins.

That's a good point mate, but one thing I've come to understand is that in reality when people are bored, they'll either look for games or jokes that would make them happy and since memecoins are the joke of Cryptocurrency, I feel recently, some investors use it to get past the boredom that comes with only having Bitcoin in their portfolio, my thoughts mind be wrong though. Well you're right that not all memecoins have been successful so far and investor shouldn't just jump into any of their projects for investing sake, they should look out for those successful ones like DOGE however, they should note that memecoins are not for long-term purposes just invest when there's a buying opportunity and take profits.

[o48o]

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What are the underlying factors driving their popularity? How do memecoins differ from traditional cryptocurrencies?
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Imho it's pretty simple. BTC used to be middle finger for banks and traditional finance. It was an example of counterculture building something new, that old farts wouldn't understand.

Memecoins are this without even trying to mask themselves as a some kind of better solution. They are very image of something your that kids knew and parent's didn't get, so in their own way, they are a way to rebel and be an inside joke that old suits don't get.

The fact that they just keep existing and having value must be so confusing to outsiders. especially old and traditional investors, and what's a better middle finger from countrer culture than an inside joke that traditional investors don't ever going to get. It keeps being used and is gaining value against all expectations. When they finally get what memecoins are and are going in, current holders already see it as ancient trend and something even more confusing will take memecoin's place.

[betswift]

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What are the underlying factors driving their popularity? How do memecoins differ from traditional cryptocurrencies?
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Imho it's pretty simple. BTC used to be middle finger for banks and traditional finance. It was an example of counterculture building something new, that old farts wouldn't understand.

Memecoins are this without even trying to mask themselves as a some kind of better solution. They are very image of something your that kids knew and parent's didn't get, so in their own way, they are a way to rebel and be an inside joke that old suits don't get.

The fact that they just keep existing and having value must be so confusing to outsiders. especially old and traditional investors, and what's a better middle finger from countrer culture than an inside joke that traditional investors don't ever going to get. It keeps being used and is gaining value against all expectations. When they finally get what memecoins are and are going in, current holders already see it as ancient trend and something even more confusing will take memecoin's place.

It's an interesting look at the perspective behind it, but I do agree that it's all about middle-fingering previous trends, basically

[legiteum]

Imho it's pretty simple. BTC used to be middle finger for banks and traditional finance. It was an example of counterculture building something new, that old farts wouldn't understand.

I've discussed this directly in my "$15T" thread, but you are bringing up why the Bitcoin community needs to change: most consumer investors just want to make more money, not "give the middle finger to their government". Today, almost all Bitcoin investors do so because they want a return on investment, not because they want a bunch of vague stuff about the downfall of governments.

The sooner the Bitcoin community understands this, the sooner we'll get to the 10x future for the digital currency market. For every cyberpunk who lives outside of the law so they don't have to pay taxes, there are 100 average consumers who don't want to risk going to jail.

[zakster]

The thing is, memecoins tap into the internet culture. Think Dogecoin, right? It was all about that Shiba Inu meme, and people loved it. But what really pushed it was the community vibe and, let’s be real, some big names (cough, Elon, cough) backing it up. That’s the sauce—community and hype.

But here’s the kicker: memecoins aren’t just about laughs anymore. They’re starting to show some real power in the market. The low entry cost makes ‘em accessible, so even folks with small pockets can get in on the action. Plus, with the rise of decentralized finance (DeFi), these coins are finding new ways to be useful. Some are even adding utility, like staking or gaming rewards, which traditional cryptos like Bitcoin and Ethereum didn’t originally focus on.

The main difference? While Bitcoin’s got that OG status as digital gold, memecoins are more like the streetwear of crypto—trendy, flashy, and sometimes just for show. They don’t usually have the tech backing of something like Ethereum, but they’ve got a strong brand and loyal followers.

So yeah, memecoins might seem like a fad, but they’re also showing how the crypto space is evolving. They’re not just here for the giggles anymore—they’re carving out a niche, and it’s gonna be interesting to see where they take us next.

like some noteworthy list here - https://topcryptopresale.com/

[benalexis12]

Hey fellow Bitcoin Enthusiasts!

I'd like to discuss the concept of memecoins and their growing presence in the crypto space. These tokens, often created as jokes or memes, have gained significant attention and picking up pace.

What are the underlying factors driving their popularity? How do memecoins differ from traditional cryptocurrencies?

I'd appreciate your insights and thoughts on this phenomenon. Let's explore the technical and economic aspects of memecoins and their potential impact on the crypto ecosystem.

There have been many news stories about meme coins that got rich and had a big profit with just the small capital they used in meme coins. But there are many meme coins, as in, there are thousands of meme coins, and the only successful memes are those that have a great team behind promoting them on all social media platforms.

And the managing team also has connections, and they are really prepared to be trending and have potential in the eyes of investors here in the crypto space. But meme coins are rarely able to do this, so invest at your own risk anyway; they're really hard to find.