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Meme Tokens: Things That Matter (And Things That Don’t)

MKT Blog post thumbnail Memecoins 2

In the world of crypto, there’s always new innovation happening. From DeFi and DEXs, all the way to NFTs. It seems like it just doesn’t stop.

But among all this another culturally integral aspect of crypto has emerged in the past few years. We’re talking about meme tokens. As the name suggests, meme tokens are digital coins that are inspired by internet memes. These tokens have gained immense popularity in recent times due to their unique appeal and potential for quick profits.

But can it be called an innovation? Well, we’ll leave it to you to decide. In this blog, we’ll explore what meme tokens are, their pros and cons, how to buy them, and also look into some popular meme tokens.

Key Takeaways:

What is a Meme Token?

A meme token is a cryptocurrency that is created as a joke or to represent a popular meme. These tokens are often inspired by internet phenomena like viral videos, celebrities, or other cultural references.

Unlike traditional cryptocurrencies like Bitcoin or Ethereum, meme tokens have no real-world value and are purely speculative.

Pros and Cons of Meme Tokens

Before investing in meme tokens, it’s best to weigh the pros and cons of these types of tokens and asses the risk accordingly.

Pros:

Cons:

How to Buy Meme Tokens?

Meme tokens can mainly be bought in TWO ways:

CEXes are traditional cryptocurrency exchanges that are regulated and offer higher liquidity, while DEXes are decentralized exchanges that are peer-to-peer and offer lower platform fees.

With Krystal Wallet, you can leverage the best prices from top DEXs and purchase most of the popular meme coins out there.

You can take a look at the liquidity pools of the tokens you intend to purchase to see if you will be able to cash out when needed.

DOGE liquidity pools on Krystal

To buy these tokens, you’ll need to create a wallet and fund it with crypto. Once you have crypto in your wallet, you can trade it for meme tokens on a CEX or DEX.

Popular Meme Tokens (OGs + Trending)

Dogecoin is arguably the most famous meme token, created in 2013 as a joke based on the Shiba Inu dog meme.

Dogecoin (DOGE)

Despite being initially created as a joke, Dogecoin has gained a massive following and has been supported by high-profile figures like Elon Musk. He even changed the Twitter logo to DOGE’s logo for 24 hours. As of May 2023, its market cap is $10 billion.

Best rates for DOGE on Krystal!

Shiba Inu (SHIB)

Shiba Inu is another meme token inspired by the popular dog meme. It was created in 2020 and has quickly gained popularity due to its low price and the social media hype around it. Its market cap as of May 2023 is $3 billion.

Best rates for SHIB on Krystal!

Pepe (PEPE)

Pepe coin is the latest addition to the growing popularity of meme coins. Inspired by the “Pepe the Frog” meme and the artist behind it, Matt Furie, this token has taken crypto by storm! The token has a circulating supply of 420 trillion and the market cap has reached close to $1.2 billion!

Best rates for PEPE on Krystal!

Turbo (TURBO)

Turbo Token (TURBO) is a revolutionary meme token featuring a futuristic toad mascot. Turbo Token is created by Rhett Mankind in 2023 after following instructions from GPT-4, with a start budget of $69.

“I gave GPT-4 a budget of $69 and asked it to make the next great meme coin.”

TURBO reached a market cap of $50 million a few weeks back.

Best rates for TURBO on Krystal!

Milady Memecoin (LADYS)

It’s a meme token inspired by a popular NFT collection Milady Maker. The meme token, however, is not officially related to the project. It’s a self-organized meme token created by the community.

This token has been going absolutely berserk ever since Elon Musk tweeted a meme using the imagery of a Milady NFT. The token reached a market cap of close to $50 MILLION after surging by over 5000%.

Best rates for LADYS on Krystal!

Final Notes:

About Krystal Wallet

Krystal is the simplest web3 wallet for everyone. On a single application, access cutting-edge portfolio management & market insights tools, swap & bridge tokens, earn passive income and participate in token sales via its IDO launchpad, KrystalGO. Additionally, users earn points and rewards from in-app activities as part of its loyalty program.

Krystal currently supports DeFi services on 11 blockchain networks, including Ethereum, BNB Smart Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Aurora, Klaytn, Solana and Optimism. Explore Krystal today on mobile app (iOS and Android) and web app.

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