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INTRODUCTION

Memes, we love them and enjoy coming across them on the internet. They add that humorous spice to our internet experience that is fun and relatable. Internet memes have been around for a few decades.

But memes didn’t really take off until social media platforms like Facebook, Twitter, and Instagram emerged. Internet memes began to take on a life of their own as a result of these platforms, which made it easy for users to share and remix images, videos, and text creatively.

Today, memes are an integral part of internet culture, and they continue to evolve and spread rapidly. With memes ranging from the “distracted boyfriend” to the Bernie Sanders mittens to the various variations of the Doge meme, internet users can express themselves and connect with one another in fun and meaningful ways.

WHAT ARE MEME COINS?

A meme coin is a type of cryptocurrency that is inspired by internet memes. Often created as jokes or parodies, they can still have real-world value and be used for transactions and investments.

Meme coins are largely driven by their popularity and the hype surrounding them, rather than their underlying technology or any real-world utility. This means that meme coins can be highly volatile and subject to sudden price swings, making them a risky investment.

The first coin meme was Dogecoin, created in 2013 by software engineers Billy Markus and Jackson Palmer as a joke based on the popular “Doge” internet meme featuring a Shiba Inu dog. Despite its origins as a parody of the booming cryptocurrency market, Dogecoin quickly gained a following and a community of supporters who appreciated its fun and lighthearted nature.

It set up the stage for other meme coins to get into the crypto market, setting up a new application for memes in the digital space. 

Other popular meme coins emerged like Shiba Inu, Floki, Baby Doge, Bone ShibaSwap, Dogelon Mars, and Richquack.com.

WHY ARE MEME COINS ON THE RISE

Meme coins are trending in cryptocurrency. These coins were introduced to make fun of the crypto market and traditional banking. One of the reasons why meme coins keep trending is the controversy that they hold.

Meme coins often gain popularity through social media platforms such as Reddit, Twitter, and TikTok. Influencers and individual users promote the coins through memes and humorous posts, which creates a sense of community around a coin and increases its appeal to potential investors.

Meme coins ride on hype, they have become the hype in the cryptocurrency market, hence the trend behind them is continuous.

MEME COINS ON BINANCE

Changpeng Zhao (CZ) says he doesn’t understand meme coins yet lists them on Binance. One of the first meme coins to be listed on Binance is Doge and Shiba Inu.

According to him, “I personally never really understood meme coins. But if a coin has a lot of users trading it, wanting it, playing with it, etc., then we’ll most likely list it.”

“There are many successful people who do seem to understand them, including Elon Musk, and others, so we go by users,” he said.

He further explained that there are criteria that must be met by meme coins before they get listed on Binance.

However, he is not involved with the evaluation since he doesn’t understand meme coins much. There is a team that specifically determines which meme coin gets listed on Binance.

CONCLUSION

There are new meme coins coming to the crypto market. CZ said that while he doesn’t understand meme coins, Binance is not against meme coins getting listed on the platform as long as it meets the criteria to avoid listing coins that vanish after 2 weeks.

FUN FACT: The word “meme” was first coined by the British evolutionary biologist Richard Dawkins in his 1976 book “The Selfish Gene,” where he used it to describe the way cultural ideas and behaviors spread and evolve over time.

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