Meme coins: from joke to serious business

Meme coins began as internet jokes, often designed to mock the seriousness of traditional cryptocurrencies, and are sometimes referred to as the internet’s wildest financial experiment. “A strange logic is driving this carnival: Meme culture, market sentiment, and technological narratives are redefining the value boundaries of Meme coins” is how Chaincatcher has described the situation. Dogecoin, the pioneer in this category, was created in 2013 by software engineers, Billy Markus and Jackson Palmer and was inspired by the popular “Doge” meme featuring a Shiba Inu dog. What set Dogecoin apart was its playful approach, contrasting with the often opaque and highly technical nature of other cryptocurrencies. And initially, Dogecoin was a fun way for internet users to tip each other or support charitable causes. However, its quirky identity and loyal community allowed it to survive long after many dismissed it as a novelty. Launched in 2020, Shiba Inu took the meme coin concept to the nex…