If you still think that Internet memes are just funny (and not) images and videos for entertainment, prepare to be surprised. Technology is blurring the lines between reality and the digital world, and memes are becoming not only a means of expressing irony and humor, but also an object of investment.
Well, let’s have a look at why this is the case and how it works.
Memes in the Crypto Industry
Let's start with what you can invest in. There are meme coins, and there are NFT memes. They are all meme-based digital assets, but their value and use vary. The capitalization of meme coins - an indicator of asset value in the market - is a bit more than
Sounds impressive, right? Let's see why meme coins are so popular and how it all started.
Dogecoin: A Dog's Life
Dogecoin is the most famous meme coin and one of the first cryptocurrencies after bitcoin, which emerged from a joke. In December 2013, developers Billy Markus and Jackson Palmer created a cryptocurrency based on the then-popular Shiba Inu dog meme. Conceived as a way to poke fun at the growing interest in cryptocurrencies, Dogecoin gained popularity surprisingly quickly.
In its early stages, Dogecoin was used as a tip on internet platforms and to fund various internet campaigns, such as
The story of a crypto trader nicknamed Dogefather (a nod to "Godfather," you get the idea) stands out. He believed in the coin and invested $180,000 to help develop it. As influencer support and active social media campaigns increased interest in Dogecoin, its price began to rise, making Dogefather a millionaire.
This story inevitably went viral, inspiring investors to explore the potential of meme coins and traders to search the cryptocurrency market for the next Dogecoin. The coin itself became a vivid example of how Internet culture can influence the world of finance and investment.
Today, Dogecoin ranks 7th in capitalization among all cryptocurrencies –
Dogecoin Development Timeline
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December 2013: Dogecoin was created by Billy Markus and Jackson Palmer.
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January 2014: Fundraising for the Jamaican Olympic bobsled team with the help of Dogecoin.
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2015-2018: A period of relative stability for Dogecoin, with little investor interest.
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2020: A rise in interest in cryptocurrencies in general leads to an increase in the price and popularity of Dogecoin.
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2021: Dogecoin's popularity grows exponentially; thanks in part to tweets from Elon Musk and other celebrities.
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2021-2023: The emergence and growth in popularity of other meme coins inspired by Dogecoin's success.
And What Other Meme Coins Are There?
Today, the total number of existing meme coins, meme tokens, their analogs, and derivatives is approaching
Dogecoin (DOGE)
One of the most famous cryptocurrencies, which you can use to buy a Tesla car on the company's official website.
Shiba Inu (SHIB)
Often referred to as the "Dogecoin killer". It was created in 2020 and uses an image of the Shiba Inu but with a different concept and design.
Dogelon Mars (ELON)
Introduced as an "interplanetary currency" for future Mars colonists.
Pepe the Frog (PEPE)
Popular among meme lovers, using an image of the famous frog.
DogeCash (DOGEC)
Positioned as a cleaner, more community-oriented version of Dogecoin, with an emphasis on transparency and community participation.
Kishu Inu (KISHU)
Another token based on a dog image, created in response to the growing popularity of Dogecoin and the Shiba Inu.
The popularity of meme coins is on the rise. Although doubts about their long-term value persist, it is still possible to profit from their price fluctuations. But to sell meme coins, you first have to buy them. Here's where you can do it.
Decentralized Exchanges (DEX)
First, there are the "swap" platforms – Uniswap, SushiSwap, PancakeSwap, and others. Unlike centralized exchanges, these platforms offer more coins that have recently appeared and have not yet attracted significant public attention. Users purchase coins created by other users.
Anyone can create their token, name it whatever they want, and invest in promoting it so that others will buy it. However, selling the token at a later date can be a problem. The fact is that this market is saturated with scammers who create illiquid tokens for purchase by inexperienced investors.
The developers of such tokens write a restriction into the code, and the scheme itself is called a "honeypot."
In general, there is no shortage of tokens on DEX platforms. For instance, on dextools.io, you can find and purchase many tokens by connecting your wallet. And remember, before investing in any token, always do your research and learn as much as you can about the potential risks.
Centralized Exchanges (CEX)
Binance, OKX, Huobi, and Gate.io are just a few of the centralized exchanges where buying popular meme coins is certainly not a problem. However, the principle of placing the coins on these exchanges differs from what we see on DEX.
In the case of meme coins, the initial prank has to get out of control, gain popularity, and attract investors. Only then is there a chance that such a token will be listed on centralized exchanges.
This will attract new token holders, make it even more visible, and increase capitalization and liquidity. Also, don't forget about specialized platforms focused on meme coins - ShibaSwap, DogeSwap, SafeMoon Exchange, and the like.
NFT Meme Coins
These are a special category of non-fungible tokens associated with popular memes or Internet culture in general. Each such NFT is unique and has a certain value based on its rarity, history, and meme popularity.
Such an NFT, whether it's the original image of the "Doge" meme or a viral GIF of a well-known Internet phenomenon, can be sold for a significant sum.
Of course, over time, specialized platforms have sprung up for this purpose. Here are some of them:
OpenSea
The largest decentralized marketplace for NFTs, where you can find many unique art objects in addition to meme coins. OpenSea's interface is intuitive, and the platform itself supports a wide range of token standards.
Blur NFT Marketplace
A sophisticated Ethereum blockchain platform with no commissions on NFT transactions. It has a user-friendly interface, extensive analytics, and a portfolio management function.
This aggregator collects and compares NFT offers from different platforms and is becoming increasingly popular due to its capabilities and potential.
NFT Marketplaces of Centralized Exchanges
The popularity of the asset has led many centralized crypto exchanges such as Binance or Coinbase to launch their own NFT marketplaces. For those who have already traded on these platforms, this is very convenient - the buying, selling, and auctions of NFTs take place in native walls.
So why are people willing to pay top dollar for memes that have been turned into NFTs? Primarily, because of the uniqueness and the impossibility of forging these memes. Thanks to the blockchain, every NFT meme can be traced back to its original, and attempts to copy or counterfeit can be detected.
Moreover, owning an NFT meme is owning a piece of Internet culture that is valued no less than a piece of art on a collector's wall. Therefore, if you acquire such an asset, you can resell it for a profit, which is exactly what many do.
The NFT space is evolving rapidly, with new projects emerging constantly. By carefully evaluating those you like most, you can assess their potential for generating
Should You Invest in Memes?
It seems that meme coins are here to stay – they've become an integral part of crypto culture, and it's hard to imagine it without them. Dedicated and passionate communities around coins grow incredibly quickly - all it takes is the right catalyst.
The market for meme coins is one of the most dynamic in the industry.
With the growth of technology and digital culture, memes and NFTs will continue to play an essential role in our lives. The next picture could be the next big NFT, making its owner millions. So, maybe it's worth considering memes as an investment? Or even create one yourself?
In general, memes are not just funny pictures. They reflect our experiences, culture, and history, becoming digital monuments of our time. And blockchain technology allows us to invest in a cultural phenomenon, become a unique owner of a digital object, or add meme coins to an investment portfolio.
Furthermore, meme coins are attracting more and more people to the cryptocurrency markets, which is undoubtedly a positive thing for the entire sphere.
The issue of investment security is still relevant - any investment, even in harmless and funny pictures, can become a fortune or a doughnut hole.
All actions related to buying and selling meme coins and NFTs are done at your own risk. Study as many different perspectives as possible to get your own picture of investing in crypto.