Cryptocurrency is a form of digital or virtual currency that differs from traditional currencies issued by the Government and operates on blockchain technology. It is a peer-to-peer system enabling anyone anywhere to send or receive payment. Cryptocurrency is stored in digital wallets.
It is called Cryptocurrency because it uses encryption to verify transactions and provide security and safety. It requires advanced coding and encryption algorithms. It is never controlled by a central authority, like a bank or government. They operate this currency on decentralized networks of computers, called blockchain technology.
MEME COIN
Meme coins are cryptocurrency inspired by internet social media memes, characters, or trends. They are more related to entertainment than usability. Their value relies mainly on hype, speculation, and the influence of celebrities. However, there is a lack of unique technology and intrinsic value. They are highly volatile, and their price fluctuates randomly based on online trends, making them risky investments. The meme coins hinge on online communities to spread awareness and drive demand.
Many meme coins are created for social media experiments or capitalizing on market trends. Due to meme coins based on meme or internet trends, it lacks real-world utility than more established cryptocurrencies like Bitcoin and Ethereum. Meme coins often have massive total supplies compared to other cryptocurrencies. The vast supply makes the price per token low. Some popular meme coins are Dogecoin, Shiba Inu, and Pepe coin.
Meme coins among other cryptocurrency coins are highly volatile. Their price rises rapidly with social media trends but can also crash quickly. This volatile nature makes meme coins a risky investment. Their value is driven by community interest and hype, so they do not have long-term viability.
DOGE
All time high $0.7376
Max supply 146,167,866,384 DOGE
Doge is a meme cryptocurrency created in December 2013 by Billy Markus and Jackson Palmer. It is based on the famous meme dog “Doge,” a Japanese dog breed. It was created using the open-source code from Litecoin, which also used Bitcoin blockchain technology. The Doge cryptocurrency rose 4000% in 2021 alone with the support of a large online community. Elon Musk, Mark Cuban, and Snoop Dogg support Dogecoin, and its price has increased rapidly. This support of the online community influences news headlines, and raising events makes Dogecoin more popular. Its price relies on social media trends and news.
Dogecoin, inspired by the famous meme dog name Doge, is designed to be a fun, friendly cryptocurrency. It attracts everyone because it has an increasing supply model. Dogecoin differs from the most popular cryptocurrency, Bitcoin. Dogecoin is unique because anyone can mine as many coins as they want. Bitcoin is limited (21 million bitcoins can be mined), but anyone can mine as many as they wish in Dogecoin. The Dogecoin community is one of its features. This Doge army is involved in various charitable activities.
This community actively supports and promotes Dogecoin on social media platforms to increase its popularity and market value. The Doge army raised over $50,00 for the Jamaican bobsled team to help them compete in the 2014 Winter Olympics. The Doge army raised over $1 million to fund a mission to the moon named DOGE-1, led by Space X. The army also invested in water projects and child play charity. They also support small businesses.
The Doge army is raising money to build water wells in Kenya. Bitcoin has a limited capital of 21 million coins, whereas Dogecoin has no maximum limit. Tesla CEO Elon Musk is a huge supporter of Dogecoin, calling it “people’s cryptocurrency.” He tweets frequently about Dogecoin. Snoop Dogg shares a photo with the caption “Snoop Doge.” Their endorsement influenced the value and led to price hikes. Elon Musk is a significant influencer in the Dogecoin ecosystem.
wow pic.twitter.com/TMLsEGqdDD
— Dogecoin (@dogecoin) April 29, 2021$MEW (CAT IN A DOG’S WORLD)
All time high $0.01034
Total supply 88,888,888,888 MEW
$MEW (Cat in a Dog’s World) is a Solana project that aims to challenge the meme status quo from Dog-themed coins. MEW went live on March 26, 2024, and garnered interest and trading on the same day. This tokenomics strategy for MEW also plans to burn 90% of its liquidity pool tokens to ensure that an adequate, stable price floor is always maintained, with the remaining 10% going back to the Solana community by airdrops.
It is speculated that the $MEW token will be used for governance, or give access to premium features or perks in the future. Mew’s surge follows similar activity in the meme coin space and its broader positioning within a climate where a token’s community backing and virality can impact price. MEW’s main aim is to challenge the popularity of dog-themed meme coins like Dogecoin and Shiba Inu cryptocurrency by introducing cat-themed meme coins. Cat in a Dog’s World, or MEW‘s transaction value record, is $150 million.
BABY DOGE
All time high $0.086355
Total supply 202.64P Baby Doge
Baby Doge is the most significant community meme coin on the BNB chain. It started as a joke to promote dog adoption, referring to hobbyist breeders as pump and dumpers. Popular Babies Musk Tweeted Experience to Become Popular Icon. Baby Doge is being developed to form a fun meme community focused on animal rights and pet adoption. The Baby Doge AI image generator allows the community to produce hooked-up characters and memes on demand without design knowledge. Users can also pay in Baby Doge to mint their images into NFTs. As the only meme with an official world record for helping save dogs donate over 81,000 pounds of dog food, Baby Doge seems pretty accurate.
It is unclear who the creators are, the primary team behind Baby Doge. The developers built Baby Doge using Binance Smart Chain to create an Ethereum-compatible ecosystem. Baby Doge has amassed a community of 1,300,000 token holders, 200,000+ Telegram members, 880,000+ Twitter followers, and 245,000+ Instagram followers. Baby Doge is the most popular community meme on the BNB chain. It holds a world record for the most pet food donated in 24 hours and donates $1.5 million to animal shelters.
It is building upon the legacy of doges in the meme coin market. Dogecoin has no contacts, but Baby Doge is built on the BNB chain. It spreads a positive message and helps different animal welfare. A total supply of 420 quadrillion Baby Doge coins. It provides Binance Smart Chain to provide decentralization and enable community involvement. The top exchanges for trading in Baby Doge are Gate.io, Poloneix, OKEx BitForex, Bitrue, and LBank.
"BabyDoge as an angel, with halo, dramatic lighting from behind, floating in the sky, epic" Generated via #BabyDogeAi Generate your own now at https://t.co/tyex8v7Qfm pic.twitter.com/c9VWJxzD7F
— Baby Doge (@BabyDogeCoin) September 30, 2024PANCAKE
All time high $44.18
Total supply 388,269,571 CAKE
Pancake is a leading multi-chain decentralized exchange (DEX) platform allowing users to trade cryptocurrencies and earn rewards through staking and farming. PancakeSwap is a DEX that supports trading BEP-20 tokens (tokens built on BSC) in a non-custodial and permissionless way. Pancake — One of the fastest-growing DEXs, with lower trading fees and a faster transaction time than competitors like Uniswap or SushiSwap, started in September 2020. Binance Smart Chain has a decentralized exchange (DEX) called PancakeSwap based on the Ethereum Virtual Machine (EVM)-friendly BSC. You can trade in a decentralized and permission-less fashion of BEP-20 tokens, the BSC version of ERC-20 tokens. One of the most popular DEXs, PancakeSwap, was introduced in September 2020 in the cryptocurrency community.
PancakeSwap is an automated market maker (AMM) on Binance Smart Chain, meaning it does not have traditional order books. Users do not trade against each other in open order books; instead, they trade against liquidity pools (publicly crowdsourced pools of funds contributed by the users known as liquidity providers). In return, these users receive a share of the trading fees and CAKE (PancakeSwap token). PancakeSwap is popular because of its decentralization and privacy. No other operations like Binance or Coinbase are involved.
There is no account requirement, KYC verifications or control of funds to a centralized entity. BEP-20 tokens — Tokens built on the Balance Smart Chain can be traded in PancakeSwap. BSC is Binance Smart Chain, an experimental blockchain created by one of the world’s largest cryptocurrency exchanges as a ‘faster’ and presumably cheaper alternative to Ethereum. BSC is a PoSA protocol that offers faster transaction times and lower fees than Ethereum PoW or PoS.
Since PancakeSwap is a BSC product, users will enjoy less expensive transaction fees compared to Uniswap. However, ever-increasing ETH gas fees are a huge problem. PancakeSwap uses CAKE as its governance token, and the ecosystem determines its purpose. Through liquidity pools, token staking, and farming yield, offers like PancakeSwap allow users to earn CAKE. With CAKE in hand, they can trade it, reinvest it, or deploy it in governance votes and, therefore, have a say in the future direction of PancakeSwap.
Users can stake CAKE in a so-called ‘Syrup Pool’ to earn other tokens or extra CAKE. This relatively recent development of farming, in which users lock their tokens in liquidity pools to generate returns, has exploded into the DeFi arena, and PancakeSwap is the main source of it. It encourages participation and adds liquidity and stability by giving some rewards.
⚡ Ongoing campaigns at PancakeSwap
Scroll down to catch all the alpha 🧵
1/8🧵 🔊Another week, another PancakeTalks with our community
🎙️ We’re hosting @SolvProtocol to dive into the future of DeFi and their innovative solutions 🔥
🗓️ Oct 3, 12:00 UTC
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— PancakeSwap (@PancakeSwap) October 2, 2024MAGA TRUMP
All time high $0.0007008
Total supply 1,000M MAGA TRUMP
The “Maga Trump Coin” is launched to support former President of America, Donald Trump, and the “Make America Great Again” movement. It is mainly designed only to celebrate Trump’s presidency.
The MAGA Trump coin features an image of Donald Trump on the front side along with the text “Make America Great Again.” This coin regenerates energy among Trump’s supporters and emphasizes the spirit of his campaign slogan. It is made from high-quality materials plated with gold and silver to enhance its attraction. This coin is promoted through different media channels, social media platforms, online websites, and political rallies.
This coin enhances the connection between Trump and his supporters. The MAGA Trump coin symbolizes loyalty and conveys Trump’s vision for America. This coin has limited time offers that’s why the coin is more exclusive and desirable. The MAGA Trump coin’s reception was mixed. Supporters view it shows their political briefs and Trump’s agenda. It is also effective in rallies or political gatherings. However, critics view it as a trivialisation of serious political issues.
The collectability of the MAGA Trump coin varies randomly based on its availability, condition and demand. Limited edition coins, especially those related to specific events like Trump’s presidency, the price of MAGA Trump coin goes very high.
FAQ
What are the meme coins?
Meme coins are a type of cryptocurrency that depends on the internet and market trends. They attract users because they are very funny.
What are the famous names of meme coins?
The popular meme coins by market capitalization are Dogecoin, Shiba Inu, Pepe, and Bonk.
How to buy meme coins?
There are usually a series of steps to buy meme coins. Step 1: For starters, you will require a wallet which enables you to hold the specific coin of interest digital wallet. The next thing to do is discover a crypto exchange with meme coins among its offerings that you would love to purchase. Once you have an account set up with the exchange, you can deposit funds in your account and use those to buy the meme coin from the other people selling on that platform. Of course, remember to always do your research and that investing in any cryptocurrency involves the inherent risk of loss.
How to find the best meme coin for investment?
The best meme coins to invest in October 2024 are Floki (market capitalization of approximately $1.4B), Bonk (market capitalization of approximately $1.45B), and Dogecoin (market capitalization of approximately $18.19B).
Can cryptocurrency be used for real-world purchases?
Cryptocurrencies are also a medium of exchange for buying some interesting items. However, in some countries, they are not legal tender.
What is the difference between staking and farming?
Staking in Syrup Pools and farming with Yield Farming are ways to earn more CAKE by supporting PancakeSwap. Staking only needs some CAKE added to a Syrup Pool to earn CAKE or other tokens. Farming is more complicated and needs LP Tokens to earn CAKE.
