Starting to Become an Investor's Choice, What Actually is Crypto Meme Coin?

Liputan6.com, Jakarta Meme coins are a type of crypto asset that is increasingly popular. This is because many meme coins have seen their prices soar some time ago, following the movement of Bitcoin which reached new highs. So what is meme coin and how does it work?

Reported by the official crypto exchange website Crypto.com, Wednesday (3/4/2024), Crypto Meme coin is a cryptocurrency (such as Bitcoin or Ethereum) with a meme or joke theme, namely an interesting or funny idea in the form of an image, video or form other media. Like the memes they are based on, meme coins are designed to go viral and be shared.

Dogecoin (DOGE), the original meme coin and category leader by market capitalization, was created in 2013 as a joke to poke fun at the hype surrounding Bitcoin and other cryptocurrencies.

Its developers, software engineers Billy Markus and Jackson Palmer, intended Dogecoin to be a fun and accessible altcoin, which is why its supply is not restricted. Dogecoin was an instant success upon launch and its popularity soared on platforms like Reddit.

The coin became the talk of the crypto world in early 2021 when celebrities such as Elon Musk, Mark Cuban, and Snoop Dogg endorsed Dogecoin, soaring more than 800% in 24 hours.

Since then, Dogecoin saw a spike in its value when Elon Musk tweeted about it. Hundreds of other meme coins have also emerged, including dozens based on the doge meme.

Despite its ups and downs over the years, Dogecoin has consistently maintained a passionate community and, at one point, surpassed Bitcoin in daily transaction volume.

The excitement surrounding meme coins is unabated in 2024, with new meme coins continuing to enter the market. Apart from Dogecoin and Shiba Inu, also known as the 'doge killer', here are the top meme coins with the highest market capitalization as of March 2024:

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