What is a Memecoin?

any newcomers have entered the crypto scene since Pepe’s inception.

To the outside world of crypto, it is hard for people to grasp the fact that millions to billions of dollars are being flooded into Memecoins every single day. The craziest thing about it is that 99.69420% of meme coins are a SCAM!

Very few Memecoins have proved to be successful and most importantly, trustworthy (to an extent). Now, don’t get me wrong, there is SO MUCH money to be made in Memecoins, but you have to catch them early and you have to know when to get out!

For those who are new, this article will explain what a Memecoin is.

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What is a Memecoin?

A Memecoin is a cryptocurrency that is derived from an internet meme. 99.99% of Memecoins rely on their communities to provide value, as they don’t offer any real utilities. Most meme coins are based on people, cartoon characters or even animals!

Memecoins are known to be fun and profitable, but bear in mind they come with incredibly high risks and volatility. It is safe to say that Memecoins are not for everyone. Most want to invest in something that has a real use case and that is understandable.

Generally speaking, Memecoins are for those with extremely high-risk tolerance and in the world of crypto, these people are known as “degens”.

Best Memecoins

(Top Memecoins by Market cap)

Finding the right Memecoin to invest in can be daunting. Everyone will have different preferences when investing in Memecoins. To give you a hand, here are some popular Memecoins that have overpowered most Altcoins and have supreme utilities:

Dogecoin (DOGE)

Dogecoin (DOGE) is one of the oldest cryptocurrencies and is definitely the first Memecoin to ever exist. DOGE first launched in 2013 and swiftly rose to fame.

Without a doubt, Dogecoin has ruled the Memecoin market since its inception and is famous for being supported by serial entrepreneur, Elon Musk. Dogecoin is in the Top 10 cryptocurrencies by Market Cap at the time of writing and has been for a long time…

Simply put, after Dogecoin, Memecoins has become a never-ending trend in the world of crypto!

Official Dogecoin Website

Shiba Inu (SHIB)

Shiba Inu (SHIB) was first launched in 2020 as a Memecoin on the Ethereum network by an anonymous person/group called Ryoshi. Not long after the launch of SHIB, it claimed the title “The DOGE Killer”.

Initially, Shiba Inu was an experiment to see what would happen if the ENTIRE community ran the protocol and today there are currently over 1.6+ Million users in the Shib Army that are exploring the almighty Shiba Inu ecosystem.

Shiba Inu currently has three tokens within its ecosystem known as BONE, LEASH and the primary and native token powering the entire ecosystem is called SHIB. Shib happens to be the second largest Memecoin by market cap and has become one of the most held tokens in the entirety of crypto!

Official Shiba Inu Website

Pepe (PEPE)

Pepe (PEPE) is the famous frog that made its first appearance in the crypto market in 2023. To most, Pepe is known as the “most memorable Memecoin in existence!”

Whether or not Pepe has a future is yet to be discovered. The Memecoin has not been around that long and still has to face the ultimate market battle tests. Pepe is one of Ethereum’s ruling Memecoin’s,

Pepe was famous for making a user $1 Million from an initial investment of $250 worth of PEPE.

Official Pepe Website

Floki Inu (FLOKI)

Floki Inu (FLOKI) was first launched as a meme coin in June 2021 by an anonymous team and since then has taken over Twitter from Elon Musk (JOKE) and grown to become one of the largest ecosystems in decentralised finance.

Floki was originally born on the Ethereum network when the meme coin first launched. After a month, Floki rebranded, moved away from being just a meme coin and launched on the BNB Chain, the true home for Valhalla. If you are an avid BNB Chain user and are looking to invest in a memecoin, the FLOKI may be your perfect fit.

They have created an incredible ecosystem of DeFi products that provides the FLOKI token with many utilities. Now, Floki Inu could possibly have the greatest ecosystem that spawned from a meme coin.

Official Floki Inu Website

How to Buy Memecoins

A question asked by the masses is, “How do I buy memecoins?”.

Well, to be honest, it depends on the Memecoin itself. Are you buying well-known Memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Floki Inu (FLOKI) or are you buying Memecoins with names like HarryPotterObamaInu and HarryPotterObamaSonic10Inu?

Yes, I know. It’s crazy what some are called. However, you can easily find and buy any Memecoin by using the correct tools to find the contract address and by using the correct Decentralised Exchange (DEX) to perform the swap.

Example: You can either buy Floki Inu (FLOKI) on the Binance Centralised Exchange (CEX) or you can buy FLOKI on PancakeSwap (DEX) on the BNB Chain.

Below, I will list some exchanges (both centralised and decentralised) and some tools to conduct some research and find the correct contract addresses.

Centralised Exchanges to Buy Memecoins

A list of popular Centralised Exchanges (CEX) to buy Memecoins. Feel free to explore and find the best exchange for you!

• Binance
• OKX
• Kucoin
• Mexc
• Bybit
• Bitvavo
• Crypto.com
  

Decentralised Exchange to Buy Memecoins

Here is a list of Decentralised Exchanges (DEX) on different networks that enable the purchase of Memecoins. 99.99% of the time, you will always be able to find Memecoins on a DEX. In fact, this is how users get in ultra early and make fortunes.

Network/DEX

• Ethereum - UniSwap
• BNB Chain - PancakeSwap
• Arbitrum One - UniSwap
• Optimism - Velodrome
• Polygon - QuickSwap
• Avalanche - TraderJoe
• Base - Aerodrome
• zkSync Era - SyncSwap
• Cosmos - Osmosis
• Solana - Raydium
• Fantom - SpookySwap
  

There are many more DEXs amongst each network and most of these exchanges are also multi-chain compatible!

Memecoin Research Tools

There are many tools to conduct thorough research on Memecoins and anything blockchain or crypto-related. Here are five tools that will serve you well in the volatile world of DeFi.

• CoinMarketCap
• DEX Screener
• Bubble Maps
• DEX Tools
• Token Sniffer
  

If you are interested in more Crypto Tools that will help you discover 100x Crypto Gems, then check out this ultimate Crypto Tool YouTube playlist!

NOTE: Use a burner wallet when investing in Memecoins. Many come with smart contract vulnerabilities. So use a burner wallet, with funds that you would not mind losing. This is to avoid wallet drainage.

Final Thoughts on Memecoins

Memecoins generally give the crypto market a bad name. They flood every blockchain and lots of them have ridiculous names that would deter 99% of people from investing. When someone new talks about crypto, they say “Oh, isn’t crypto just dog coins like that, Dogecoin thing?”

Things need to change, but pump and dump Memecoins will never die as long as DeFi leaves. We just need to prove to the 99% of people not invested in crypto, that it’s not all about Memecoins.

If you’re wondering how to find Memecoins and crypto gems, then you’re already at the right place. They don’t call me AltCryptoGems for nothing!

I hope this clears up some questions you may have on Memecoins and make sure to check out the rest of our website for unlimited crypto knowledge.