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![face of mars coin face of mars coin](https://images-na.ssl-images-amazon.com/images/I/51y8wSFDktL.jpg)
In a weird way, holding a good meme coin is like cheering for a good team. They are used to hype up a community of developers and token holders within that community.
![face of mars coin face of mars coin](https://i.etsystatic.com/12919512/r/il/01f36f/1620586946/il_794xN.1620586946_j9s9.jpg)
Meme coins are often used to publicize and popularize a particular blockchain or network. Why would you invest conservatively in Bitcoin or Ethereum or anything similar? It would be more sensible to bet on projects with high potential but low market capitalization,” he says, like a meme coin. I mean, if you had $5,000 to burn, then it means you are in a position to be adventurous – to take risks. “We use it to pay for a bunch of things – from community contributors, to artists, to developers. VINU is trying to be a meme coin with “actual utility,” Miller says. How could they? If it takes 5-20 minutes to use it to pay for something, and if it costs you several bucks to pay in terms of fees, it’s hard to see how many meme coins could gain widespread adoption,” says Tyler Miller, Head of Communications at Vita Inu. “It’s true that many meme coins have absolutely no utility - and no potential for utility. Dogecoin is in endless supply, making it dependent on chat-room and funny social media influencers to temporarily drive up its value. One reason why Dogecoin is so cheap (almost always worth less than a penny since its inception in 2017 and up to the Elon bounce in 2021) is because there is no cap on the number of Dogecoins miners can churn out. Top 5 meme coins by market cap and how they performed over a seven day period ending April 23. If we consider meme coins as a form of ‘money’ - just with extremely high volatility - then they make the investing game more interesting and exciting.” “But starting in December 2021 it’s been declining. “We saw peak usage of the top meme coins on our platform back in May 2021,” says Ilya Volkov, CEO of and a Crypto Valley Association Board Member from Switzerland. Because they might turn $100 into $3,500 on double-zero. The coin is worth $0.000024, though it is up 737,000% in two years, so there is that.īuying a meme coin is like asking a gambler at Foxwoods why they like playing roulette. It was created to be the Dogecoin killer, and its white paper (called a “woof paper”) is famous for saying that their team never collaborated before. Shiba Inu is totally useless, and created by an anonymous developer in 2020 who probably had nothing to do because of the Covid pandemic. In exchange for supporting the blockchain, miners earn Dogecoin which they can keep or sell. Dogecoin runs on its own dedicated blockchain.