Why Meme Coins Lack Sustainable Growth

The rise of cryptos has seen changes envelop the world and revamp the global financial sector. This growth has seen different types of cryptocurrencies being developed in the digital financial system. Meme coins are one of the most popular categories of cryptocurrencies in the modern world and are widely used by the crypto community. These coins are typically tokens that bank on the popularity of pop culture references or internet jokes as the basis of their growth. In the modern world, many different meme coins exist, Dogecoin being the first and most valuable of the lot. Following its inception in 2013, Dogecoin brought forth a wave of users as people swarmed to use the tokens with the pooch. The relevance of these tokens has thus spurred the growth of the category. However, while meme coins have been renowned for their explosive growth, they lack sustainable growth, an aspect that will be explored below. How Meme Coins Work Meme coins are products tied to internet jokes created to make fun of digital finance developments. These tokens often emerge from videos, pictures, or funny statements and are widespread across social media channels. The popularity of these coins makes them valuable as the coin prices explode quickly, earning significant profits. These coins are seen as viable investments for experimentation as individuals jump onto the hype. Thus, investors use the meme-themed tokens in the market without incurring the...