Meme coins and tokens are cryptocurrencies inspired by internet memes, current events, and promoted by influencers. They gained popularity following Dogecoin's launch in 2013, which was created as a joke. Meme coins like Shiba Inu and Dogwifhat have emerged, leveraging the viral nature of memes to drive community engagement and investment. The ease of creating new meme tokens, especially with platforms like Pump.fun, has expanded this sector significantly. Typically, meme coins have no inherent value or utility and rely heavily on influencer support for price swings. Risks include potential scams, such as rug pulls, where developers cash out and leave investors with worthless tokens. Despite this, the meme coin market is valued at over $109 billion and continues to grow, with speculation around the future, including meme coin-based exchange-traded funds. Investors should exercise caution and consider auditing and third-party oversight before investing.

Source 🔗