Memecoins are a type of altcoin created based on popular internet memes or jokes. These cryptocurrencies are often created for entertainment purposes, particularly popular among young users, and tend to spread quickly on social media.
What is Memecoin?
Memecoin is the native token of the Memeland ecosystem, operated by 9GAG. Memeland is the Web3 venture studio of 9GAG, a popular meme platform. Memecoin is part of the memecoin ecosystem, similar to Dogecoin (DOGE) and Shiba Inu (SHIB). Memecoin operates on the largest smart contract platform, Ethereum (ETH), making it a token rather than a coin.
MEME Analysis
The MEME token is the service token of the memecoin network. Its supply is limited to 69 billion units. As of the preparation of this article, the circulating supply was 8.79 billion units, equal to 12.75% of the total supply. The all-time high (ATH) for the MEME token was recorded on November 3, 2023, at $0.02506. At the time of writing, it is trading 31.49% below its ATH at $0.02909. With a market capitalization of $177.2 million, MEME is the 5th largest memecoin, behind Floki (FLOKI), Pepe (PEPE), Shiba Inu, and Dogecoin.
How to Buy MEME Coin?
The MEME token can be quickly and securely bought and sold through Binance, the world’s largest cryptocurrency exchange by trading volume. To purchase the MEME token, you must first open an account on Binance (if you don’t have one) and then deposit fiat currency into the account. Once fiat currency, such as US dollars or euros, has been deposited into the user account on the cryptocurrency exchange, the purchase can be made through trading pairs offered for MEME.
Memecoins differ from traditional cryptocurrencies like Bitcoin or Ethereum. Their popularity began with the emergence of Dogecoin in 2013. Dogecoin is associated with the “Doge” meme, an internet joke featuring the facial expression of a Japanese Shiba Inu dog.
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