Are Memecoins dangerous?
Nowadays cryptocurrencies can refer to several different categories, from Oracles, to NFT tokens, to Layer 2 Solutions, to governance tokens. Although different, they are all included under the umbrella term “cryptocurrencies”.
In recent days we have been experiencing the birth of another category. It is a type of crypto that both traders and investors believe will have a huge dominance in the crypto market this year. We are talking about Memecoins. Why is there so much buzz about this coin? Let’s discover why.
What Does The Term MEME Mean?
According to Wikipedia, MEME are “ideas and concepts that spread from person to person by sharing online. Memes can be images, videos, and even words and phrases.”
What Is The Most Important Feature Of Memes?
Memes rely on their viral content. They can spread quickly and are very effective in capturing a certain cultural moment! Therefore, they can be powerful
What is a Dogecoin?
Most of the time, memes have no purpose or aim. They are simpy made as jokes, in order to make people laugh and have fun. The most famous memecoin is Dogecoin. The currency was created by two software engineers who wanted to make a joke-payment-system, something that could poke fun at all the buzz surrounding cryptos at the time. Its popularity skyrocketed when Elon Musk, one day, tweeted his views on Dogecoin. On the 20th of May 2021, after Musk tweeted a Doge-related meme, Dogecoin’s price rose by 11%.
Are memecoins dangerous?
It must be said that memecoins are not to be taken that seriously. As such, they do not contribute to the improvement of cryptocurrencies reputation. Let’s not forget that cryptos had long been considered nothing more than scams. If a joke-coin enters the crypto market and mainstream media spreads the news that such a market is only filled with these types of coins, the entire crypto world’s reputation will be damaged.
However, people are aware of the difference between Dogeoin and Ethereum or Bitcoin. The rest of the memes behave exactly the same as Dodgecoin does.
Meme coins do not usually appear in popular exchanges such as Binance. If you want to buy them you should turn to decentralized exchanges. Be careful not to buy from unreliable platforms!
Will memecoins be available on WeWe Global’s ecosystem?
Never say never! In the end, WeWe Global’s purpose is to make cryptocurrencies more acceptable worldwide. How? By following two directions:
⦁ We partner with companies that accept cryptos and advertise them to our global community.
⦁ We create tools and applications that simplify crypto transactions and payments.
Should memecoins prove to be more than just jokes, we will be the first ones to include them in our growing network!