Memecoins have emerged as a notable segment of the cryptocurrency market, capturing the attention of younger demographics. Often influenced by internet memes or humorous content, these altcoins prioritize entertainment over technological utility. This article provides insights into Memecoin (MEME) and guidance on purchasing it.
What is Memecoin?
Memecoin forms a key element of the Memeland ecosystem, which is managed by the prominent meme platform 9GAG. It operates on the Ethereum network, similar to other well-known memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB). The MEME coin serves as the utility token within this ecosystem.
How has MEME Coin Performed Recently?
As of now, MEME coin has 8.79 billion units in circulation, representing 12.75% of its total supply. The coin hit a peak value of $0.02506 on November 3, 2023, but currently trades at $0.02909, which is 31.49% lower than its all-time high. With a market cap of $177.2 million, it is ranked fifth among memecoins, following others like Floki (FLOKI) and Shiba Inu.
- Memecoins primarily serve entertainment purposes.
- High volatility makes them high-risk investments.
- Thorough research is essential before investing.
Purchasing MEME coin can be done securely on Binance, the leading cryptocurrency exchange. Listed since October 31, it can be traded in several pairs, including MEME/BNB and MEME/USDT. To acquire MEME coin, users must create an account on Binance, transfer funds, and proceed to the trading interface.