Though meme coins vary widely from traditional cryptocurrencies in terms of meaning, value, and practical application, many of the former are generated by users through communities of shared interests and online culture even while traditional cryptocurrencies are often designed to address actual technological or practical things.
Powerful, emerging cases include that of the crypto-currency Bitcoin and Ethereum- Bitcoin comes into existence as an efficient substitute for decentralized digital currency and storing a store of value perimeter on the one hand, and Ethereum becomes the catalyst for making and ensuring smart contracts and decentralized applications on the other. With solid technology roots, use cases in action, and long-term visions, typically, these projects also bring their value in accordance with utility, scarcity, and adoption levels.
Dogecoin and Shiba come from internet jokes. They are like startups you would form on spending your lunch break with a couple of friends. They usually depend entirely on social media, influencer endorsements, and enthusiasm of the community to drive their popularity. From that perspective, they don't have a clear use case or great innovation. Indeed, they target those people who are looking for challenging, short-run opportunities or fun and humor associated using pure comedy coin traits.
Despite the fact that traditional cryptocurrencies often seek to revolutionize sectors or financing, meme coins tend to altogether project the speculative and jovial domain of the crypto environment. Both functions-oriented sides indicate that the field of cryptocurrencies is marked by multiple approaches whereby the most innovative and serious options coexist alongside fun-based experimentation tactics. A study into these distinctions will more likely lead to an informed investment option.
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VEIGO (Community Mod)
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I think trading in these meme coins is no less than actual gambling because as you said, they depend entirely on social media influencer's endorsements, and the community to drive their popularity and have no fundamental use case. And I am sure you will also agree that most people just do hope trading in these coins which is not a good practice.
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