The first meme coin, Dogecoin (DOGE) was created in 2013 but gained popularity in 2021, with celebrities like Elon Musk and Mark Cuban promoting it. It refers to a meme known as “doge,” which features an image of a Shiba Inu dog accompanied by broken English text meant to represent its inner thoughts.
Since then, the crypto market has seen the rise and fall of different meme coins, most of them influenced by DOGE. In this article, we discuss the relationship between meme coins and their social communities. Read on!
What is a meme coin?
There is a common misconception that “meme coins” are “altcoins.” The distinction is that not all “altcoins” are “meme coins.” Altcoins are coins (or tokens) that are not Bitcoin, i.e., all cryptocurrencies except Bitcoin. In terms of market capitalization, Ethereum is the second largest altcoin, after Bitcoin.
In contrast to Bitcoin and other altcoins, a meme coin is a homage to a meme, which is an image, video, or another form of media capturing a funny or interesting idea. The primary purpose of meme coins, like the memes they are based on, is to go viral and be shared amongst a wide audience.
Why Community Matters for Meme Coins
The community heavily influences meme coins. Their prices are usually influenced by social media and online sentiment since they have no fundamental economic or business use case. Hype and FOMO are often associated with this, but there is also a financial risk attached to it.
SHIB and DOGE, for example, are two of the most popular meme coins right now. The popularity of Dogecoin has been fuelled by endorsements from people like Elon Musk. While Shiba Inu (SHIB) has cultivated a large community of loyal members through social media platforms like Twitter. SHIB has an impressive ecosystem, which includes a layer-2 network (Shibarium), NFT collections, metaverse offerings, and several tokens, such as BONE, a governance token. As a result, its members have the opportunity to influence the direction of the Shiba Inu ecosystem.
Big Eyes Coin’s Presale Is in Overdrive, Thanks to a Massive Community
Recently, a cat-themed meme coin was launched making waves on the internet. Big Eyes Coin (BIG) and its complementary aesthetic are the culmination of the internet’s love for cats. Similar to how the images of Shiba Inu generating sustained joy led to a meme that has lasted for over a decade, and Dogecoin (DOGE) growing out of that community.
Like Shiba Inu and Dogecoin, Big Eyes has fostered a sense of community by involving its members in decision-making and maintaining active communication channels, like a vibrant Telegram group and a thirty-seven-plus thousands-strong Twitter community.
Big Eyes Coin has the advantage of creating a like-minded community without relying on NFTs, gaming, or giveaways. While Big Eyes will mint NFTs in the future, its social media team and anime-style cute cat themes are currently generating buzz.
The pre-sale is the finest proof of Big Eyes Coin’s community strength, raising $20 million already. Since launching in February 2022, the founders have gained over 35,000 followers on Twitter. Users can join the community on Discord, Telegram, and Medium in addition to regular social media channels, offering multiple ways to connect with Big Eyes, and all things cute-cat-related!
Big Eyes Coin (BIG)
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