Memecoins
The Memecoin casino: investing versus gambling

Key points:
- Memecoins are cryptocurrencies that pay homage to a meme, trend, or viral internet moment.
- Memecoins are extremely volatile, making them a risky investment. They also lack intrinsic value and apparent utility.
- Although memecoins have some similarities with traditional cryptocurrency, there are several vital differences that make them inaccessible to smart investors.
Everyone loves a good joke… especially on the Internet. This love of irreverent humor and community has led to the birth of a specific form of entertainment in the crypto space: the phenomenon called “memecoin.”
In this guide we’ll cover our take on memecoins: what they are, why they’re popular, and how some memecoins are making waves among investors.
What are Memecoins?
Memecoin they are a type of cryptocurrency inspired by internet memes and trends. They are typically supported by online communities that consider them lighthearted and fun. However, for some they have also come to represent a get-rich-quick scheme.
Unlike Ethereum, Bitcoin, and other cryptocurrencies, memecoins have no actual utility or purpose beyond their cultural value: in most cases, they are used solely for speculation or “gambling.” Naturally, this makes them volatile and fraught with risk.
The Rise of Memecoins
The original photo of Kabosu that led to the Doge meme – and subsequently Dogecoin (photograph taken by Atsuko Sato)
The birth of memecoins can be directly linked to DOGE.
Dogecoin (DOGE), the first widely recognized memecoin, was launched in 2013 by two software engineers as a joke inspired by the doge meme (a viral meme of a Shiba Inu often paired with recognizable captions).
However, despite its humorous roots, Dogecoin quickly became a cultural phenomenon, in part thanks to Elon Musk’s promotion of the coin on Twitter in 2019. In 2021, the coin surged 800% in 24 hours thanks to attention of Reddit users and Elon Musk’s encouragement via Twitter.
Now Dogecoin is the world’s largest memecoin, with a market capitalization of over $22 billion. For comparison, that’s larger than Michael Saylor’s market cap Microstrategy action.
Other memecoins were launched soon after Dogecoin’s birth, with varying success. The second largest memecoin by market capitalization, the Shiba Inu coin (SHIB), was created in 2020 by an anonymous group/person under the pseudonym “Ryoshi”.
Today there are half a million memecoins, thanks to platforms that allow users to churn out new coins with a few clicks of a button. Of course, the vast majority are only worth a small fraction of a cent.
How do Memecoins work?
Humor and internet culture play an important role in shaping the memecoin narrative. Memecoins tap into the collective consciousness of online communities, leveraging the humor and relatability of memes to drive value and adoption.
As a result, the more buzz an online community can create around a meme and its attached memecoin, the more successful the memecoin will be. Often, memecoin followers leverage platforms like Instagram, Reddit, TikTok, and Twitter to create the buzz necessary for success.
Dogecoin is the main example of this phenomenon. The accompanying meme became so popular that it was sold as an NFT for a record $4 million. Additionally, the coin has received celebrity endorsements from Snoop Dogg, Gene Simmons, and Mark Cuban, making Dogecoin a valid form of payment for its Dallas Mavericks tickets and merchandise.
Memecoins are a game of chance
Even if you’re interested in investing just a little money in memecoins, for the sake of humor, it’s crucial to understand their volatility before diving in. Investing in a memecoin is a huge financial gamble, as the success or failure of a memecoin is extremely unpredictable. .
While Dogecoin and Shiba Inu are success stories among memecoins, neither coin has ever been able to stabilize for an extended period. Furthermore, most memecoins fade into oblivion after their initial hype wears off (if they get any at all).
Despite their volatility, many people are still attracted to memecoins due to the psychological allure of high-risk, high-reward investing and FOMO (fear of missing out).
This is especially true when a memecoin experiences a price surge, as this often leads to people clamoring to buy the coin to get in on the action. But, because the price is so volatile, investors should never buy more than they stand to lose, as the price could easily collapse the next day.
What are some noteworthy Memecoins?
Shiba Inu: Launched in 2020, Shiba Inu is the second largest memecoin by market capitalization. The coin gained popularity thanks to Twitter support from Elon Musk and Vitalik Buterin. The coin saw its largest price spike in October 2021, when its price increased by more than 300%. However, as indicated by the chart above, this price spike did not last long, as the value continued to decline over the next two years. Starting from May 2024, analysts believe that the price of the coin may rise again, as the coin mainly moves in tandem with Bitcoin, which is also expected to rise. However, due to the extreme volatility of the currency, there is no guarantee that such an increase will occur.
Pepper: Launched in April 2023, Pepe is named after the popular “Pepe the Frog” meme within the crypto community. Initial excitement over the coin’s launch led to a price surge in May 2023. However, shortly after the excitement died down, a developer update, mistaken by the community as a security breach, brought many investors to sell their coins quickly, causing the price to drop. quickly.
BOOK OF MEMES: Launched in March 2024, BOOK OF MEME was created as an experimental web3-focused project to combine memes, decentralized storage, degeneracy trading, and gambling. The BOOK OF MEME experiment aims to encapsulate the ever-evolving meme culture within a digital compendium. The project seeks to ensure that every piece is immortalized on the blockchain. After an initial rise to just over $0.02, the token fell by 50%, but has since maintained its value.
Dogwifhat: Launched in November 2023, Dogwifhat is a memecoin operating on the Solana network based on the popular meme of a Shiba Inu wearing a pink hat. The memecoin enjoys strong community support and has received numerous celebrity endorsements via Twitter. However, despite the current surge, there is no guarantee that the price will continue to rise, and it could very likely collapse once the initial enthusiasm subsides.
Risks and advantages of Memecoin
While memecoins may offer the allure of a quick profit, the chances of success are extremely low.
In general, the people who do the best with memecoins are the creators. If they can become successful enough early, they can sell their huge plots for a profit and let others hold the bag. But creating memecoins is also not a good path to riches: even if they are easy to create, they are difficult to promote and advertise, given all the competition from memecoins.
The memecoin market is prone to scams, such as pump-and-dump schemes. In these schemes, groups or individuals artificially inflate the price of a coin through online marketing and hype, only to sell off their investments at the peak, leaving everyone else with significant losses.
Rug pulls, a type of scam in which creators suddenly abandon their memecoin project and take investor funds with them, are also common.
There are also cases where scammers use social media to trick investors into purchasing a non-existent token. One such scam occurred in March 2024, when an impostor posed as a crypto influencer they induced people to buy a non-existent BULL token.
Investment strategies in Memecoin
Due to its high risk and low probability of reward, we do not recommend investing in memecoins. However, if you are willing to make a big bet or simply want to buy a memecoin to get to know them, exercise extreme caution before investing.
Plan extensive research on the memecoin of your choice, looking at its price history, who is behind the coin, whether it appears legitimate, the online community surrounding it, and, if the coin has suffered a crash, what caused it . (Use ours Blockchain Investor Scorecard for your search.)
While you may be interested in joining online community forums for discussion, take them with a grain of salt. While you will see many people in these forums with a lot of passion and enthusiasm for a memecoin, their predictions for the coin’s success are often wishful thinking.
Takeaway for investors
Although memecoins are mostly fun and games, people have lost large sums of money betting on them. While some memecoins have made incredible gains, and some have even stood the test of time, the vast majority (over 99%) remain largely worthless.
If you are thinking of joining the memecoin casino and placing some bets, never invest more money than you are willing to lose. The hype and excitement around memecoins can be very tempting, and it can be all too easy to fall victim to a bad investment or, worse, a scam.
If you want to take the much safer approach of dollar-cost averaging long-term quality crypto assets, check out our Portfolio of blockchain believers.
For more cryptocurrency investing strategies delivered straight to your inbox, subscribe to the Bitcoin Market Journal.
Memecoins
Biden Dropping Out? These Biden Replacement Memecoins Are Rising

Amid speculation about Joe Biden’s future in the 2024 presidential race, memecoins tied to potential successors like Kamala Harris have surged, in contrast to the volatile trajectories of Biden-inspired “Joe Boden” and “MAGA” coins.
As the United States enters election season, it is becoming clear that both campaigns are using cryptocurrency funds and conversions much more than in previous years.
According to recent relationshipsThere is speculation that Biden is considering his future in the 2024 race, prompting traders at Polymarket to raise the odds of the Democrat exiting to nearly 80% on Wednesday, up from 55% previously.
This sudden increase follows a week of volatility in By Polymarket “Biden Drops Out of the Race?”, which has attracted nearly $10 million in bets. Before last week’s debate with Donald Trump, the odds of the same question were at 20%.
The White House has denied all rumors that Biden is considering withdrawing.
Memecoins
Memecoins associated with Joe Biden and Donald Trump have has undergone significant fluctuations in recent months. But these recent reports about Biden’s health have caused a surge in memecoins for his potential successors.
Joe Boden (EARTH) the currency has had a rather difficult six months. BODEN rose to nearly $0.80 in April before collapsing to its current price of $.035. This is a decline in value of more than 95% from its all-time highs.
The MAGA (BRISCOLA) has experienced similar volatility. It reached an all-time high of $17.37 in June before falling to its current price of $5.35.
Biden’s Replacement Memecoins
Over the past 24 hours, memecoins inspired by political figures who could replace Joe Biden, such as “Kamala Coin” (inspired by Vice President Kamala Harris) and “Buttigieg Bucks” (inspired by Pete Buttigieg), have seen a surge in market value.
Kamala coin (FUCK) increased by more than 110% last day.
According to CoinGecko data, another memecoin, “Gabin Noosum” (NOOSUM), is up 15% over the past 24 hours, and a coin inspired by independent presidential candidate Robert F. Kennedy Jr., the misspelled “Ruburt F Kenidy Jr” (KENIDY), has gained 10% over the same period.
Memecoins
Solana-Based Meme Coins Surge 8x Than Ethereum Counterparts in 2024

Key points
- Solana meme coins have seen average returns of 8,469% YTD, far outpacing Ethereum’s 962%.
- Political meme tokens have emerged as a $784 million subcategory within the $57.7 billion meme coin market.
Share this article
Solana-based meme coins have significantly outperformed their Ethereum-based counterparts, producing an average return of 8,469% compared to 962% for Ethereum meme coins year-to-date. According to the “CMC 2024 H1” report, this contrast highlights a wave of speculative capital flowing into the Solana ecosystem.
Image: CoinMarketCap
The explosive rallies of WIF and BONK on Solana have attracted attention and capital from other chains, fueling a cycle of meme coin upside and further investment. While meme coins exist on multiple blockchains, Solana and Ethereum have dominated in terms of activity and trading volume.
Ethereum meme coins, typically launched in 2023 or earlier, have a more established presence. In contrast, most Solana meme coins entered the market in late 2023 or 2024, capitalizing on the recent surge in interest.
In particular, political meme tokens have emerged as a subcategory, with a total market cap of $784 million out of a $57.7 billion meme coin market. MAGA meme coin (TRUMP) has seen gains of over 5,100% this year, influenced by Trump’s vocal support for cryptocurrencies and acceptance of cryptocurrency donations for his campaign.
Image: CoinMarketCap
As cryptocurrencies become a hot topic in the U.S. elections in November, political meme-based coins will continue to attract speculative interest, CoinMarketCap’s report notes.
Share this article
Memecoins
Solana Sets New Records With Its Memecoins

19:18 ▪ 4 minute read ▪ by Mikaia A.
The memecoin world on Solana is buzzing with performances that exceed all expectations. Despite a rocky start, Solana has managed to turn things around and establish itself as a prominent leader in the meme cryptocurrency space, outperforming Ethereum by 800% since the beginning of the year.
Memecoin on Solana: Up 800% vs. Ethereum
Last April, the memecoin flame on Solana it seemed to trembleInvestors, disappointed by the poor performance and the recurring problems of some crypto memes, were starting to lose hope.
Top 10 Solana Cryptocurrency Memes – Source: CoinGecko
However, Solana decided to take the bull by the horns. Blockchain has undertaken a series of measures to address the problem of problematic memecoins and clean up its ecosystem. These efforts quickly paid off.
CoinMarketCap relationships from the first half of 2024 to prove that Solana-based memecoins have outperformed Ethereum by 800%An impressive performance that clearly illustrates Solana’s resilience and innovation.
Memecoins as Dogwifhat (WIF), Bonk (BONK) and Billy (BILLY) contributed to this success. Dogwifhat jumped 12.34% in just 24 hours, becoming the top meme coin on Solana. As for Billy, its market cap has risen 97% to $117 million.
These successes are explained by Solana ability to attract talented developers and create an environment conducive to the growth of memecoins.
Additionally, Solana has quickly adapted to the challenges posed by the meme cryptocurrency market, particularly by improving security and promoting transparency of transactions.
The Growth of Meme Cryptocurrencies on a Growing Blockchain
The growth of meme cryptocurrencies on Solana isn’t limited to a few isolated successes. It reflects a broader trend across the memecoin ecosystem.
With a market share of 9.64%, Solana dominates the industry, leaving Ethereum and other blockchains behind.
This dominance can be attributed to several factors. First, the Solana community commitmentwhich was able to mobilize significant resources to support and promote memecoins.
Secondly, Solana technological innovationwhich offers fast and low-cost transactions, thus attracting many developers and investors.
The successes of Dogwifhat and Billy illustrate this dynamic well. In addition to their impressive performances, these meme cryptocurrencies have benefited from massive community support and celebrity promotion.
For example, Ariana Grande shared a meme highlighting the cryptocurrency Michi, which led to an 18% increase in its value. These initiatives clearly show how Solana has managed to create an attractive and dynamic ecosystem for memecoins.
Finally, celebrity influence and increased capital invested in meme cryptocurrencies have also played a key role. Solana has been able to capitalize on these opportunities to strengthen its market position and attract new investors. Blockchain continues to record growth milestonessolidifying its status as a leader in the memecoin industry.
Enhance your Cointribune experience with our Read to Earn program! Earn points for every article you read and access exclusive rewards. Sign up now and start earning rewards.
Click here to join “Read to Earn” and turn your passion for cryptocurrencies into rewards!
Mikaia A.
The blockchain and crypto revolution is underway! And the day the impacts are felt on the most vulnerable economy in this world, against all hope, I will say that I was there for someone
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.
Memecoins
The Memecoin Wave Inspired by Potential Joe Biden Replacements

The cryptocurrency world has recently witnessed a curious phenomenon: the rise of memecoins inspired by potential replacements for Joe Biden as the Democratic Party’s presidential candidate. In the last 24 hours, these digital coins have seen surprising growth, while the memecoin “Jeo Boden,” a parody of President Biden, has suffered a significant decline in value, falling by more than 30%.
The Memecoin Phenomenon and Its Connection to Biden
Memecoins are cryptocurrencies created as a joke or to pay homage to famous peopleInternet memes or cultural events. Unlike more traditional cryptocurrencies like Bitcoin or Ethereum, memecoins often have no intrinsic value or advanced technology behind them. Their popularity and value are largely dependent on social trends and current hype.
Memecoins inspired by political figures who could replace Joe Biden have seen exponential growth in the past 24 hours. Coins like “Kamala Coin” (inspired by Vice President Kamala Harris) and “Buttigieg Bucks” (inspired by Transportation Secretary Pete Buttigieg) have seen significant increases in market value.
This growth can be attributed to several factors. First, speculation that Biden may not run for a second term has created a wave of interest in possible Democratic candidates. This interest has been reflected in the memecoin market, where investors are trying to capitalize on the hype surrounding these figures.
Additionally, memecoins tend to be heavily influenced by social media trends. With names of potential candidates circulating on platforms like Twitter, Reddit, and TikTok, it’s no surprise that related memecoins have attracted the attention of investors.
The Decline of “Jeo Boden” and the Role of Social Media
In contrast, the memecoin “Jeo Boden” has seen a dramatic decline in value, falling by more than 30% in the past day. This decline can be interpreted as a reflection of investors’ diminishing confidence in Joe Biden’s political future. As speculation about his retirement increases, interest in a memecoin dedicated to him is decreasing.
Furthermore, the decline of “Jeo Boden” could also be a consequence of the memecoin market itself, which is known for its extreme volatility. Investors who had bet on “Jeo Boden” may have moved their funds to the new emerging memecoins, looking to profit from changes in the political landscape.
Social media plays a crucial role in the spread and popularity of memecoins. Online communities on platforms like Reddit, particularly subreddits like r/cryptocurrency and r/wallstreetbets, often serve as epicenters for discussion and speculation about memecoins. When a new meme or political figure goes viral, related memecoins can see a rapid increase in value.
Additionally, social media influencers and celebrities can have a significant impact. Tweets and posts from influential personalities can drive thousands of people to invest in a specific memecoin, further fueling hype and market volatility.
Final considerations
The rise of memecoins inspired by potential replacements for Joe Biden and the simultaneous decline of “Jeo Boden” highlights the unpredictable and volatile nature of the cryptocurrency market, especially memecoins. While these digital currencies can offer quick profit opportunities, they are also subject to drastic fluctuations based on social trends and political speculation.
For investors, it is essential to approach this market with caution, be aware of the risks, and not invest more than you are willing to lose. Memecoins are an interesting cultural and financial phenomenon, but like all trends, their value can be ephemeral and subject to rapid change.
-
Videos9 months ago
Japan just triggered PANIC IN THE GLOBAL MARKET! [CRYPTO DUMP]
-
News12 months ago
New Crypto Wallet Collects Over 350 Billion PEPE Tokens: Can This Make Memecoin Soar? ⋆ ZyCrypto
-
News10 months ago
a new era for DEX tokens
-
News10 months ago
Golem Project Joins ETH Staking Frenzy, Locks Up 40,000 Tokens
-
Memecoins11 months ago
Over 1 million new tokens launched since April
-
Bitcoin10 months ago
Crypto President Trump’s ‘Lesser’ Regulation Will Bless Coinbase’s Bitcoin Leverage, Expert Says – Coinbase Glb (NASDAQ:COIN)
-
Memecoins10 months ago
Solana Sets New Records With Its Memecoins
-
News9 months ago
Pepe Investors Seek New Rewards From Rival Token Mpeppe (MPEPE) at $0.0007
-
Bitcoin11 months ago
Crypto Analyst Predicts Record Bitcoin Gains Before October Amid Global Liquidity Shifts ⋆ ZyCrypto
-
Memecoins12 months ago
Solana co-founder strongly supports meme coins; highlights memecoin migration from ETH to Solana ⋆ ZyCrypto
-
Memecoins12 months ago
AI Tokens Take the Baton from Memecoins to Drive a Market Rebirth ⋆ ZyCrypto
-
Videos12 months ago
LIVE FOMC 🚨 Could be CATASTROPHIC for Altcoins!