Meme Token, also called meme cryptocurrencies, stand out for appealing to humor and the formation of a community that is capable of growing and achieving notoriety , unlike other more complex projects such as Chainlink (LINK) or Polkadot (DOT).
All this, with the purpose that the meme cryptocurrency be added to different investment platforms such as exchanges and brokers, that it can be used as a form of payment and, of course, that its price increases in value.
memes in popular culture
With the widespread use of the Internet and especially social networks, a new communication format began to go viral: memes. This content is, in most cases, funny images accompanied by text that aspire to amuse people.
A fundamental aspect of memes is their ability to reproduce en masse, achieving a "life of their own" by themselves. In fact, this concept was coined by the evolutionary biologist Richard Dawkins, in 1976.
Due to its nature, over the years, new memes have emerged, reaching enormous levels of complexity compared to the first to appear. They are no longer just images, because today they can also be videos, stocks and cryptocurrencies: meme coins.
Regarding the particularities of memes in financial instruments, a factor that is very relevant is their community . Furthermore, the larger and more faithful the people who support a project, the more the value of the asset can grow.
In the world of cryptocurrencies, the most popular meme is Dogecoin: the image of a shiba inu dog that became famous in 2013, of which there are several variations.
For the same reason, it should not surprise us that the two meme cryptocurrencies with the highest market capitalization are Dogecoin (DOGE) and Shiba Inu (SHIB). Nor does the rest of these cryptos feed off the influence of the Doge meme.
Dogecoin (DOGE): the quintessential meme coin
In 2013 —the same year the meme emerged— Billy Markus and Jackson Palmer founded the Dogecoin (DOGE) cryptocurrency as a fork of Litecoin (LTC), which is considered the “silver” of cryptos.
Through this fork, the developers managed to significantly reduce the time needed to create a new block at that time. Unlike the 10 minutes it takes for Bitcoin (BTC) and 2.5 for Litecoin (LTC), the meme cryptocurrency only takes 60 seconds.
Also Read: What is Hokk Finance
technological advance
However, people's interest in DOGE did not arise because of said technological advance, but because it referred to the fashionable meme. This was essential for the creation of their community , which today is one of the most important.
On the other hand, the support of Elon Musk , CEO of Tesla and SpaceX, has been essential to seal his popularity worldwide. Through his social networks, the entrepreneur has shared different messages and memes related to Dogecoin, which have influenced the increase in its price.
The history of this meme coin is the best example to understand the function of these assets, because people who invest in Dogecoin do so because it is a fun cryptocurrency that is close to their community, which has allowed it to be bought in most platforms dedicated to crypto with Hokk Finance Meme Token.
Today Dogecoin (DOGE) remains among the top 10 cryptos with the highest market capitalization, being the only one of its kind to be part of the ranking. Regarding its growth, the oldest minimum price registered on CoinGecko, a website that collects information about cryptocurrencies, dates from May 6, 2015, when buying a DOGE token cost $0.00008690.
If we compare that price with that of the end of October 2021, which is close to $0.263, we find a Return on Investment (ROI) of 302,500% in relation to that May 6. When only checking the figures for the last year, the increase in DOGE has been approximately 9,800%.
Therefore, it goes without saying that many investors have made millions of dollars by buying DOGE , and although we cannot know exactly what its value will be in the medium and long term, it is most likely that it will continue to rise .
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