The crypto market hosts thousands of cryptocurrencies, and it provides just as many opportunities for winning financial freedom. The world’s first crypto was Bitcoin, which was introduced to the public in 2009, highlighting the potential of web3 into the future of the global economy. The coin saw immediate success, but things were getting too serious, so two developers decided to poke at the success of the currency, launching the first meme coin, Doge. More recently, the surge of new altcoins decided to follow the path of Dogecoin, showcasing to the digital market their funny nature, as they are inspired by viral memes, and aiming to create an innovative network for a large community of users. Their widespread success has been driven by social media platforms, which serve as a means of communication for the broad communities of investors who promote the initiatives and potential of their meme-inspired currencies. So, if you are willing to embrace the meme coins, in this article, we are going to unveil the main characteristics of the currencies to help you make informed decisions and unveil the power of the strong army behind them:
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The surge of meme coins
The first meme coin introduced to the digital market is Dogecoin. Doge was designed by two engineers in 2013, aiming to poke at the success of Bitcoin and make a light-hearted joke for the crypto community. Dogecoin, inspired by the viral Shiba Inu meme and its funny nature, has immediately pushed the value of the currency, growing 10.000% more in the first month. More recently, more meme coins took the world by storm, serving the needs for innovation of a broad audience of investors. For instance, inspired by the path of Doge, Shiba Inu coin aims to follow the steps of the first meme-coin. Another top choice for investors is PEPE, which recalls the funny frog that has been a craze on social media platforms for years. The Pepe coin is built on Ethereum’s blockchain, providing users with the same benefits as the primary network, and it relies on a deflationary model, which promises to stabilize the ledger. So, you can track the Pepe price prediction to see what the future holds for the popular meme currency.
The power of Twitter
Twitter has always been a means of communication for the crypto community. The social media platform is used by investors to share ideas, track the progress of the meme coins together, and promote the network’s future-oriented vision. Social media is a powerful tool for the web3 because, just like the technology, It’s accessible to anyone who has an internet connection, so people from all over the world can see the various theories and predictions of people who share the same goal: gaining high returns from the growth of their cryptocurrencies.
The involvement of celebrities
Celebrities have a strong influence on people, and their choices can drive the success of the concepts they promote in a few minutes. In the case of cryptocurrencies, many celebs are still skeptical about the reliability of the web3, but important figures in the tech scene, like Elon Musk, show their support to the crypto community. Tech leader Musk didn’t believe in the power of Bitcoin at first, but shortly after, he admitted his wrong opinion and embraced Dogecoin. Elon Musk holds a significant amount of Doge, and he decided to invest in the meme-coin network with his big company, SpaceX, as well. The celebrity constantly tweets about the popular currency, and he encourages his community of fans and followers to embrace the innovative ledger, aiming to bring the coin “to the moon.” Considering that Elon Musk’s power is not neglectable, the Doge community is mainly influenced by the leader’s advice, and since the demand for Dogecoin increases with every social media post, the coin moves to the next milestone, promising a bullish event by the end of the year.
Charity programs
Spreading kindness from the web3 to the real world is one of the main aspects that characterizes the meme coin community. People from all over the world launch special charity programs to address the main issues of society. The dogecoin, Shiba Inu, and PEPE communities aim to encourage people to donate to charity causes. This concept grabs the attention of the ETH founder Vitalik Buterin as well, who decides to donate $1.6 million, promising to do that every time he receives money and showing his appreciation to the networks that donate a portion of their supply directly to charity. These initiatives are promoted on social media platforms, especially on the ex-twitter, now X, showing that kindness and empathy are core values of the meme-coins community.
Are meme coins a safe choice?
Many people consider meme coins a beginner-friendly choice. We can say that, despite their volatility, considering the low prices of the coins individually, new investors can, in fact, decide to embrace the currencies to experiment with the crypto world. They are great options for portfolio diversification, and you have the opportunity to experiment with various trading strategies to see what suits your financial needs most. Considering cryptocurrencies a safe choice can be controversial because, after all, cryptocurrencies are still high-risk assets, but since the meme coin market is continuously evolving, the demand is increasing, and technology continues to advance, we believe that virtual currency will soon become more stable.
To make the most of your trading activity and achieve financial freedom, it’s important to gain deep knowledge about the underlying technologies of the coins, as you have to understand how they work, make sense of technical aspects, learn to read charts, and follow their price fluctuations. You should be constantly updated with the latest advancements in blockchain technology, so you can keep on track with new trends and learn the discipline to create a profitable journey to success.