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What is a'meme coin'?

Here's what a "meme coin" is, and why it might not make the wisest investment. Meme coins are cryptocurrencies that are based on internet memes. While many cryptocurrencies like Ethereum and Bitcoin tout technical features such as decentralization and anonymity, meme coins are different.

What are meme coins?

Meme coins are a type of cryptocurrency that’s highly speculative and supported by certain enthusiastic online trading communities. Examples of meme coins include blockchain-based coins and tokens such as Dogecoin and Shiba Inu. It’s possible to make or lose a large amount of money quickly when trading meme coins and other virtual currencies.

What should you know before investing in a meme coin?

Here's what you need to know before investing. What Is a Meme Coin? In a nutshell, meme coins are cryptocurrencies inspired by memes and internet jokes. Dogecoin, for example, was inspired by the Doge meme created from a viral photo of a Shiba Inu.

Is Dogecoin a meme coin?

Dogecoin is the original meme coin: It was created as a joke based on a meme back in 2013. It rose to fame after Elon Musk began tweeting about the cryptocurrency, and retail investors started buying in droves. Because anybody can create a new cryptocurrency, developers have released a slew of meme coins after Dogecoin.

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