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It’s safe to say that nothing is more popular than meme coins right now. The current market capitalization exceeds US$46 billion. This is the highest in the cryptocurrency industry. But do you know what meme coins have gone through before they got to where they are today? In this article, Siam Blockchain will take you back to the origins of meme coins and what it looked like. What has changed now? let us see.
Many people may know that the first cryptocurrency was Bitcoin, launched in 2009, followed by the major altcoin Ethereum. But believe it or not, meme coins have a much longer history. People have thought a lot about this. The first Meme coin appeared in the world in 2013, that is, about 11 years ago. The first Meme coin that was born was "Dogecoin", which is Kabosu dog coin. DOGE was originally created as a comedic parody of Bitcoin, but at the time, no one knew what a big deal this puppy would become.
It's called a "meme," and it's gotta be funny. Of course, this coin was created just for fun. The developers are not experts or experts and the coin itself is of little use at all, however, there are cases where the meme coin development team is serious about developing additional use cases for the coin.
Even today, the true purpose and value of encryption remains controversial. Even an innovation like Bitcoin, with a clear path forward, took a decade to gain mainstream acceptance. Not to mention meme coins at this level.
But Dogecoin did not give in to the scandal, but fought back until netizens noticed and accepted it. But due to the dog's good fortune, billionaire Elon Musk accepted the coin to care for him. Whether mentioning, promoting or actually creating use. This changed Dogecoin’s status from a meme coin made just for fun to a coin of significant value.
If you take a look, you'll see that there are only two memecoins currently changing their status, not just memecoins. These include Dogecoin and Shiba Inucoin, which were created to bring down Dogecoin.
After DOGE plays a role in the cryptocurrency world. Soon after, many memecoins flooded the cryptocurrency market. Although most of them are garbage coins, every once in a while you come across coins with a lot of potential, such as PEPE, the green frog meme.
Currently, meme coins are one of the most popular options among investors. Because of its low cost, it can be purchased in large quantities and earn high profits at the same time. This is why the value and transaction volume of meme coins are very high. If we count DOGE, PEPE, and SHIB as advanced coins, now some younger coins have also begun to compete fiercely, whether it is Dogwifhat (WIF ), FLOKI, BONK or the latest Book of Meme (BOME).
From this observation, we can see that people have accepted memecoins even though they have no use other than betting. So if the meme continues in the future we may see more coins being produced. At the same time, existing coins may evolve into other types of coins in the future.
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