How to Make a Meme Coin: Tutorial for Beginners
Meme coins are a promising area for investing and trading, and many developers are ready to bring a creative aspect to their work. Those who wish to enter this area can familiarize themselves with our experienced advisors’ instructions on how to make a meme coin and real-life examples of how everything works. All you need is a small investment, an interesting idea, and a community that will support your platform and the new kind of cryptocurrency you bring to the market with Meme Coin
Why Does Someone Need to Create a Meme Coin?
Creating a meme-coin is technically quite simple, and you can earn up to 1,000% of the investment amount or even more. That’s why you might be interested in delving into this topic.
What Is It?
A meme is a funny viral photo or video that spreads all over the Internet, attracting the attention of a million-strong audience.
In turn, a meme token is one of the cryptocurrency variants based on popular pictures and videos (memes). Initially, it had no use case or real financial or resource value. The creators of meme tokens make money on the popularity of the meme itself. However, even such a token needs a pool of liquidity built into its value and boost it. In short, anyone can create a meme coin, put it on the market, and get a huge profit.
The most striking (and the very first) successful example of a meme coin was the Japanese Shiba Inu dog and Dogecoin’s cryptocurrency. It appeared back in 2013 and is still popular.
To better understand how meme coins work and why they get such popularity, it is worth exploring their features:
Meme coins are quite volatile. Community-driven, they can gain popularity through active support from the community and FOMO. This is also the main risk for this type of cryptocurrency since the price may fall on the same grounds – when traders begin to focus on other crypto coins and lose interest in the current one.
Meme coins can have an unlimited or large supply. If Bitcoin, for example, was created as a coin that was not subject to inflation due to the limited supply, things are different for meme coins. DOGE does not have a supply cap at all, while SHIB has a supply of 1 quadrillion tokens. The more coins, the higher inflation. This explains the relatively low cost of meme tokens. In addition, only some of them have a well-developed mechanism for burning coins.
Many developers can figure out how to create a meme coin and enter the market with their product. This generates competition and a decrease in the value of each individual token.
The community of traders and investors is wary of meme tokens because of the high risks of the situation where the developers themselves and the first wave of token holders begin to actively sell them.
The main idea is to really earn on meme tokens, and many people who understand how to make a meme coin are successful in this business. You need to analyze the market, see trends, notice trading features, and follow the news.
The Most Popular Projects
Since its release (in 2013) and until now, Dogecoin (DOGE) and Shiba Inu (SHIB) have been the leaders of the meme coin market. Their popularity is fueled and supported by media personalities, influencers, and businessmen.
They compete with a few more projects:
Dogelon Mars (ELON). The coin got its name in honor of Elon Musk. There are 557 trillion tokens today.
AKITA is also based on the popularity of Japanese dog breeds. Its tokenomics resembles SHIB.
Kishu Inu exploits the dog theme too. The market capitalization is $2 billion.
SafeMoon is a coin that skyrocketed in 2021. It is noteworthy that it has achieved a return on investment of 9418.54% in less than six months of existence.
In total, several hundred meme tokens circulate on the cryptocurrency market, but only 80 of them are considered worthy of investors’ attention.
How to Make a Meme Coin
Analysts emphasize that everyone can figure out how to make a meme coin. The technical aspect is not too complicated. It is better to work in tandem with professional developers who can explain some technical details. But in general, the process takes place in several stages. Be prepared that any token works on Ethereum smart contracts, the execution of which comes with a commission proportional to the load on the network.