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Can anyone tell me the history and evolution of MEME coins?
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It is MeMe coin, a strange phenomenon born from Internet humor but able to stir up waves in the financial market. In fact, these seemingly unserious digital toys are attracting a lot of money and attention at an astonishing speed.
MeMe coins, as the name suggests, are cryptocurrencies inspired by Internet memes. However, it is this seemingly unorthodox quality that has become the unique charm of MeMe coins. They do not have a complex mining mechanism and total limit like Bitcoin, nor do they attempt to build a huge decentralized application ecosystem like Ethereum. The value of MeMe coins often comes from the consensus of the community and the viral spread of social media.
If we talk about the originator of MeMe coins, it must be Dogecoin. This cryptocurrency, created by software engineers Billy Markus and Jackson Palmer in late 2013, was originally created as a joke. Palmer first publicly mentioned Dogecoin on November 28, 2013, and he joked on Twitter that Invest in Dogecoin, I'm sure it's the next big thing. The inspiration came from the Doge emoticon package that was popular on the Internet at the time - a picture of a Shiba Inu head with bright colors and funny fonts and inner monologues. Palmer then created the Dogecoin.com website, and Markus completed the development of Dogecoin in just three hours, most of which was spent on changing the text of the client to Comic Sans font. The two founders probably didn't expect that this joke project would become popular so quickly and gain amazing attention and users in just a few weeks.
In 2021, Elon Musk mentioned DOGE on Twitter many times, pushing it into a global craze. The price once soared by more than 8,000%, and the market value exceeded 88 billion US dollars. This initial joke project has gradually accumulated a huge market value and influence in the following years. This fully demonstrates that a seemingly non-serious project can also achieve unexpected success if it can cleverly combine with popular Internet culture and form a strong community consensus, and also lays the foundation for the emergence of many subsequent MeMe coins.
Although MeMe coins may seem like a joke, they still rely on a solid foundation in blockchain technology. In simple terms, a blockchain is like a shared digital ledger that records every transaction securely and transparently. Most MeMe coins run as tokens on existing blockchains, such as Ethereum (following the ERC-20 standard) and Solana (following the SPL token standard). This allows them to be developed more quickly and leverage the infrastructure of existing blockchains.
In the world of MeMe Coin, the power of online communities is also very strong. Active communities on platforms such as Twitter, Reddit, Discord and Telegram are crucial to the success of MeMe Coin. Shiba Inu Coin has more than 3.9 million followers on Twitter, Pepe Coin has more than 766,000, Bonk Coin has quickly accumulated more than 500,000 followers, and Floki Inu has more than 475,000. It is these vibrant communities that drive the popularity and value of MeMe Coin by constantly creating and sharing MeMe Coin-related memes and viral content.
The price of MeMe coins is often driven by virality on social media, with celebrity endorsements acting as catalysts.
DOGE
