The genesis of memecoin

Memecoins were created as a kind of joke and a parody of other popular cryptocurrencies. Their genesis is associated with Dogecoin, which was created in 2013 by programmers Billy Markus and Jackson Palmer as a parody of other cryptocurrencies such as Bitcoin.

Dogecoin was named after a popular internet meme depicting a Shiba Inu dog. This meme has gained immense popularity on the Internet and has become a kind of symbol of meme culture. Dogecoin’s name and logo are based on this meme.

Initially, Dogecoin was a joke and was seen as nothing more than online fun. However, its popularity quickly increased and the cryptocurrency began to gain value. Dogecoin has become a popular memecoin that is still actively used and traded in the cryptocurrency market.

Since the inception of Dogecoin, many other memecoins have been created that often refer to popular internet memes or parody other cryptocurrencies. Most of them are jokes and are seen as a form of entertainment or online fun, but some memecoins have gained much more popularity and investors have started to treat them as serious investments.


Most popular memecoins

Currently, there are many memecoins on the cryptocurrency market, but some of them have gained particular popularity and are widely known. Here are some of the most popular memecoins:

  1. Dogecoin (DOGE) – this is one of the most famous memecoins that was created in 2013. Dogecoin is based on an internet meme of a Shiba Inu dog and has become popular due to its humorous nature and sociable community.
  2. Shiba Inu (SHIB) – this is a memecoin that was created as a joke about Dogecoin, but quickly became popular and began to increase in value. Shiba Inu is based on the Shiba Inu dog meme, which is also the symbol of Dogecoin.
  3. SafeMoon (SAFEMOON) – this is a memecoin that was created in 2021 and quickly gained popularity thanks to its innovative approach to cryptocurrency trading. SafeMoon has introduced a fee system that collects fees for each transaction and divides them between currency holders and entities that distribute it.


The use of memecoins

The use of memecoins is rather limited and is often due to their joking nature or parodying other cryptocurrencies. Nevertheless, there are some uses for memecoins that are worth discussing.

First, memecoins can serve as a form of entertainment and fun for those interested in cryptocurrencies and internet memes. Some memecoins are very humorous in nature and can be seen as a form of online fun, as in the case of Dogecoin.

Secondly, memecoins are often used by online communities as a way to express their support or enthusiasm for certain topics. For example, the Shiba Inu coin has become popular with fans of Shiba Inu dogs, and Safemoon has gained a legion of followers who actively promote this cryptocurrency on social media.

Third, some memecoins may have some uses in the business world. An example is Burger King, which in 2017 introduced its own cryptocurrency – Whoppercoin – which could be obtained for shopping in Burger King restaurants. Whoppercoin could be exchanged for free burgers or other items available on the menu.

However, most memecoins have no worthwhile purpose and were created only to attract attention and make money from investors. So, you should think carefully before investing in memecoins and avoid risky investment decisions.