Meme coins are essentially digital currencies that get their inspiration from online jokes and memes. For instance, the Doge meme that was based on a Shiba Inu viral picture served as the inspiration for Dogecoin. These cryptocurrencies frequently aren’t meant to be taken seriously, but they can nevertheless catch on when others in the community invest in the most recent one to get in on the joke.
Retail investors occasionally join the currency once its value has increased and spiked, which helps the coin gain even more traction. Popular online personalities and celebrities also increase the appeal of some meme currencies. The person who is arguably most well-known for it is Elon Musk, and a branch of Dogecoin called Floki Inu is named after Musk’s genuine pet.