Memecoin
A cryptocurrency created as a joke or based on internet culture, often with no fundamental utility.
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Explained Simply
Memecoins are tokens inspired by memes, jokes, or internet culture. Dogecoin (DOGE) was the first, created in 2013 as a joke. Memecoins can see extreme price spikes driven by social media hype and celebrity endorsements, but they also crash hard. They typically have no fundamental technology or use case. While some people have made large gains, many more have lost money on memecoins.
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