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Memecoins are a type of altcoin that are created based on popular internet memes or jokes. They are usually created for entertainment purposes and are popular among young users, quickly spreading on social media platforms. The technology or usage behind these types of altcoins is often limited and they are used for entertainment or community building purposes rather than investment. In this article, you can find the answers to many questions such as what is Memecoin, MEME review, and how to buy MEME listed under the ecosystem of the giant cryptocurrency exchange Binance‘s Launchpool projects.
What is Memecoin?
Memecoin is the native ecosystem of Memeland operated by 9GAG. Memeland is the Web3 venture studio of 9GAG, a popular meme platform worldwide. Memecoin is a member of the memecoin ecosystem, just like Dogecoin (DOGE) and Shiba Inu (SHIB). Memecoin operates on the largest smart contract platform Ethereum (ETH). The fact that this Memecoin network does not operate on its own blockchain means that the service token MEME is a token, not a coin.
While the price movements of the members of this ecosystem can vary widely, they are considered risky assets by investors. Memecoins are a unique type in the cryptocurrency market, known for revolving around entertainment and internet memes. It is important to do thorough research and understand the risks before investing in such assets.
MEME Review
MEME coin is the service token of the Memecoin network. Its supply is limited to 69 billion coins. At the time of writing this article, the circulating supply corresponds to 12.75% of the total supply, which is 8.79 billion coins. The all-time high (ATH) of MEME coin was recorded on November 3, 2023, at $0.02506. At the time of writing, it is trading at $0.02909, which is 31.49% below its ATH. MEME is currently the 5th largest memecoin with a market capitalization of $177.2 million. The memecoins ahead of it are Floki (FLOKI), Pepe (PEPE), Shiba Inu, and Dogecoin.
As it is known, memecoins often have volatile value and carry a speculative character. Users may hope to make a profit by investing in or trading memecoins, but the value of such assets can quickly rise or fall. Additionally, many memecoins may include projects created for fraud or scams, so it is important to be cautious and conduct sufficient research before investing.
In general, memecoins are different from more traditional cryptocurrencies like Bitcoin (BTC) or Ethereum. The popularity of these types of digital assets increased with the emergence of Dogecoin in 2013. Dogecoin is associated with an internet meme called “Doge” which features the facial expression of a Japanese Shiba Inu dog. Such memes have been used as symbols of Dogecoin.
How to Buy MEME Coin?
MEME coin can be bought and sold quickly and securely through Binance, the world’s largest cryptocurrency exchange in terms of trading volume. To buy MEME coin, you first need to open an account on Binance (if you don’t already have one) and then deposit fiat currency such as Turkish Lira, US Dollar, or Euro into your user account on the cryptocurrency exchange. After that, you can perform the purchase transaction through the trading pairs offered for MEME coin.
MEME coin transactions are available on Binance in the seed category under the MEME/BNB, MEME/USDT, MEME/FDUSD, MEME/TUSD, and MEME/TRY trading pairs starting at 11:00 GMT on November 3, 2023.
