Hey there fellow crypto enthusiasts! Today we’re going to talk about memecoins, the funny little coins that make us laugh and cry at the same time. Memecoins are cryptocurrencies that are created as a joke, but sometimes they end up taking off and turning into something bigger. So, let’s dive in and learn a little more about these silly little coins.
First things first, let’s take a look at the trading volume of memecoins over the past few weeks. As of late, memecoins have seen an enormous surge in popularity, with many of them experiencing explosive growth in a very short amount of time. This growth can be attributed to the rising interest in cryptocurrencies, especially among younger investors who are looking to make quick gains. So, if you’re looking to invest in memecoins, now is the time to do it! (NFA of course)
We all heard about Dogecoin and Shiba Inu, but what does the new generation look like?
$PEPE – King of Memecoins 2023
One of the most popular memecoins is $pepe. This coin was created in honor of Pepe the Frog, a popular internet meme that has been around for years. The coin has a low market cap and a high trading volume, making it an attractive option for investors looking to make a quick profit. However, it’s important to keep in mind that memecoins can be very volatile and unpredictable, so make sure to do your research before investing.
Within 2 weeks the market cap surged over $1 billion. After listing on popular exchanges like Kucoin, Bybit, and Binance the coin experienced a rapid pullback.
Trade $Pepe on Leverage or spot buy on Bybit
$TURBO – The First AI coin
Another popular memecoin is $turbo. This coin has a unique marketing strategy, which involves a team of developers who are constantly working to improve the coin’s features and functionality. The coin was created by Chat GPT and after the first 2 weeks, the developer renounced control so it’s truly decentralized.
The team has also created a vibrant community around the coin, which has helped drive its price and popularity. If you’re looking for a memecoin with a strong following, $turbo might be the right choice for you.
Popular NFT artist “Beeple” created a vivid image about the memecoin, which also received a reply from Elon Musk:
$HER – a Play on Caroline from FTX
And then there’s $her, which was created as a parody of other popular cryptocurrencies. The coin has a low market cap and a high trading volume, which makes it a popular choice among investors. However, like all memecoins, $her is very volatile and can be difficult to predict. So, make sure to do your research and invest wisely.
The memecoin is making fun of Caroline, who managed the treasure of FTX, which caused one of the biggest downfalls in crypto.
Rugs on Rugs
Now, let’s talk about scams. Unfortunately, there are many scammers out there who are looking to take advantage of inexperienced investors. They create fake memecoins, lure people in with promises of quick profits, and then disappear with their money. It’s important to be very cautious when investing in memecoins and to do your due diligence before putting any money on the line. Remember, most memecoins go to zero very quickly, so be careful.
2 Popular scam methods are:
- Honeypot, you can buy the tokens but not sell them which makes them soulbound
- Liquidity Pool rugged – Creators add liquidity but pull it when volume slows down
As part of marketing strategies, we’re seeing more memecoins give away free coins to early supporters. Ofter it just requires a few social media tasks.
It’s a great way to collect some coins without investing capital, altho you might want to keep in mind that most of these coins will rug you at some point.
That being said, we do keep an eye on memecoin airdrops and if we find one that we feel is worth noting, we do list them on our website. Recently we listed a Pepe coin on Arbitrum for example.
If you do decide to invest in memecoins, there are a few places where you can trade them. DEXtools, DEXscreener, and Uniswap are all popular options, each with its own advantages and disadvantages. Do your research and find the platform that works best for you.
In conclusion, memecoins can be a lot of fun, but they can also be very risky like a casino. If you’re looking to invest in them, make sure to do your research and invest wisely. Remember, most memecoins go to zero very quickly, so be cautious and don’t invest more than you can afford to lose. And most importantly, have fun! After all, that’s what memecoins are all about.