How do memes influence crypto market trends and is it possible to make money on meme coins?

According to the MarketVector index, in 2024, popular meme cryptocurrencies showed impressive income 🚀. The profit was 137.96%, surpassing 🏎️ other indices.

What started as a joke has become a serious financial asset with an impressive marketing effect 🎯. Now meme cryptocurrencies are an attractive asset for risk-averse investors 💰.

Let’s figure it out inside and out how to make money on meme coins. Let’s look at the most popular coins.

🙌 Do you want to understand whether it is possible to make money on meme coins? 🧮? The easiest way to figure it out is get help from an expert. Choose a convenient time ⌚ and consult for free 🌞. Find out everything you need to know to become richer ⛳.

INthe truth about meme coins

ME-coins are cryptocurrencies based on some cultural phenomenon, media trend, or just a funny picture from the Internet. Most often they become a speculative instrument due to high volatility and unpredictability. The most famous examples:

•  🔝 Dogecoin.
• 🔝 Shiba Inu.

Both tokens entered the top 12 digital currencies by capitalization with $21.9 billion and $14.5 billion, respectively.

Meme coins operate on different blockchain technologies, similar to Bitcoin and Ethereum. Tokens based on the Solana token protocol are especially popular. Most often they are not provided with anything. Their value depends on social and cultural factors.

Most meme coins (but not all) have no practical use or technological uniqueness. Therefore, they are extremely susceptible to media influence. For example, Elon Musk’s interest in Doge led to an increase in the price of this cryptocurrency by thousands of percent.

What is the purpose of most meme coins?

• ❗ Oeducational factor. It is easier for outsiders to perceive cryptocurrencies associated with something that is familiar to them. For example, with the meme dog from the World Wide Web. They make the first investment in crypto, and then get involved in the process, which expands the audience of the market as a whole.
• ❗ Opportunity to earn money. Lucky investors who clearly understand how to find hype meme coins or choose them at random can make a good profit due to a sharp and multiple increase in price. Some financial assets rose in price by 22,000% in a few months. And this is not the limit.
• ❗ Involvement in the community. Investors in meme coins often become part of groups of like-minded people. This greatly enhances the social aspect of investing in cryptocurrencies.

Disadvantages of meme coins:

• 🔴 Overy high risk. Meme coins are highly susceptible to market manipulation. They may lose almost all of their value. And just as quickly as typing.
• 🔴 Lack of security. Most meme coins are just pictures that are attached to the crypt. They are not supported by real projects or assets.
• 🔴 Low liquidity. Some coins are difficult to sell even at market price. The reason is that there are not enough trade participants. Because of this, they have to be sold cheaper.

New meme tokens appear with enviable regularity. Most of them are scams. It is a fact. Exactly the same as the fact that 6 meme-coins were in the top 100 cryptocurrencies by capitalization, and the 7th one is in 110th place. Their capitalization is serious.

How to make money on meme coins

Trading meme coins is not much different from transactions with regular cryptocurrencies. Considering that most of them have no functional purpose, they are only suitable for trading.

🙌 There are meme coins with additional features. Most of them appeared on the Solana network.

To start trading meme coins, you need to choose a reliable cryptocurrency exchange. For example, Binance. They react quite quickly to hype meme coins and allow them to be listed. Some even received their derivative. For example, Book of Meme (BOME) with a leverage of 1:50.

Before as trading meme coins, you need to realize: there is a huge risk. The investor should be extremely careful. It is important to carefully analyze:

• 🚀 news,
• 🚀 support for media personalities,
• 🚀 marketing,
• 🚀 market indicators.

Lost profit syndrome cannot be cultivated. If the peak of growth has passed, it is a huge mistake to enter the market. After sudden surges, meme coins usually begin to fall.

🙌 It is important to be very active in using analysis tools to track the movement of coins of interest.

Impossible predict which coin will go up. This can only be done by Elon Musk, who himself creates bullish trends thanks to loud statements.

It is better for the average trader to look for coins that are beginning to be actively discussed on the Internet, which provokes an increase in value. If the reaction is quick, you can enter the market before the peak and take profit. Because of this, growth usually stops.

🙌 The main rule of trading meme coins is not to invest too much. This is a very risky speculative financial asset. Even a minimal investment can bring good profit. If there is a loss, the loss will be very small.

Popular meme coins for investment

The top three tokens by capitalization are:

• 🏅 DOGE.
• 🏅 SHIB.
• 🏅 BABY

These are established cryptocurrencies with a strong base, which reduces the likelihood of sudden price fluctuations. DOGE is up just 0.09% in 30 days. SHIB – 10.81%. PEPE surprised with a gain of 88.46%. Perhaps he has already exhausted his potential.

🙌 Tip: Pay attention to the tokens launched on the Solana blockchain. They are on everyone’s lips. The same POPCAT grew by more than 300% in 30 days. In addition, most of the coins from the top below have a purpose other than speculation.

Dogwifhat (WIF)

Dogwifhet is the most popular, largest meme coin by capitalization Solana. It appeared in November 2023. On March 15, the price hit a historical high of $3.47.

The coin’s capitalization is above $2.38 billion. The increase is 223,051% in 4 months.

🙌 Token Dogwifat hyped with a record-breaking fundraising ($700,000) for a “dog in a hat” meme show on the Las Vegas Sphere.

Bonk Inu (BONK)

The Bonk Inu coin was distributed through an airdrop among Solana Saga smartphone users. This boosted phone sales and provoked an increase in token quotes. The maximum price increase relative to the minimum is 52686%.

Token Inside Bonk multifunctional. It is used to manage the platform and ecosystem of 119 projects, including large DeFi projects.

Peng (PENG)

A coin with the image of a penguin in the style of the PEPE meme coin. It is used to increase liquidity on the Solana blockchain.

🙌 Over the course of a year, the peng rose in price by 200%. Then it dropped to 0.595. The token has growth prospects.

Book of Meme (BOME)

The Book of Meme coin was launched on March 14, 2024. After 2 days (March 16) it cost 45,000% more. Capitalization reached $1 billion. Binance immediately listed the token and offered a derivative with a coefficient of x50.

Slerf (SLERF)

Slurf – ohA relatively new token on Solana. It showed a rapid rise after the developer announced that the coins intended for the airdrop were being burned. A day later, its price rose by 252%.

Should you invest in meme coins?

New meme tokens appear very often. A significant part of them are scams. It is important to closely monitor the markets and act quickly. Or invest in multifunctional meme coins with at least some purpose.