What is MEME? | Hokk Finance
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The word “meme” was coined by Richard Dawkins in his book “The Selfish Gene” (1976). According to Dawkins, a genetic meme is a gene that repeats and spreads through the population via Darwinian natural selection.
On the other hand, a cultural meme is a habit or concept that spreads even faster in a community. For example, if I tell you a joke and you tell it to your friends, the joke will spread until it is known on a collective level, permanently changing the species, even in minor ways.
However, the extreme volatility of meme currencies means that investors can only profit from Dogecoin and Shiba Inu if they withdraw their funds for a short period of time. If an investor encounters any obstacle that prevents him from logging in at the right time, he risks losing his investments. Also, some platforms such as Coinbase have already blocked users from their accounts due to technical issues, which are likely to occur during these peak times, and even then investors do not always get their funds back.
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There is a lot of discussion about memes in the cryptocurrency world. What does this term actually mean, and why is it so important?
The definition of a meme is “an idea, behavior, or style that spreads from person to person within a culture.” In the context of cryptocurrency, this means that certain ideas or trends spread quickly among users. For example, when a new coin gets released, there may be a lot of speculation about whether it will be successful or not. This is just one example of how memes can influence the market.
Why are memes so important in cryptocurrency? One reason is that they can be used to signal investor confidence (or lack thereof). For example, if there is a lot of discussion on social media about a certain coin, this may be an indicator that people are bullish on it. On the other hand, if a coin is being talked about in a negative light, this could be a sign that investors are selling off their holdings.
In short, memes are an important part of the cryptocurrency world because they can influence investor behavior. By understanding what the current memes are, you can get a better idea of where the market is headed.
In contrast, utility meme tokens are developed with the intention of gaining recognition as a legitimate form of currency. Some of the best-known examples include Ethereum and Cardano. Furthermore, they aim to decentralize finance by taking control away from banks and governments, and dream of revolutionizing finance by becoming a widely accepted form of payment. The involvement of Square, Tesla, and Micro Strategy suggests that’s not unrealistic. Since anyone can buy tokens, it is possible to increase liquidity by assigning rewards and fee reductions. But ultimately, utility tokens do not guarantee investors a stake in the company.
