Amidst the temporary market crashes of bitcoin dealing in crypto, profound entrepreneurs and investors started Sharing on Twitter how they have started engaging themselves in odd jobs. In fact, McDonald the prominent fast-food giant also took part in the said meme wagon. Just as Bitcoin’s value begins to trade below the $40,000 crypto investors and millionaires on Twitter are having a good laugh. They started sharing a meme wagon about getting employed at fast-food restaurants.
Towards the end of the year 2013, Dogecoin was circulated after being generated as a joke as a Doge meme by software engineers. This single act illuminated the invention of several succeeding meme coins while creating a broad niche in the crypto industry. As of October 2021, there were about 124 meme coins distributed in the market some of which include Shiba Inu, Floki, and so on.
Cryptocurrencies prompted by internet jokes and memes are referred to as Meme coins. Virtually several times, meme coins have become a household name in the cryptocurrency society. These coins are usually turned to in times when there is a decline in the prices of several cryptocurrencies. If you do not follow the market, then it is quite difficult to catch this moment. To automate the trading process, you can use tools that repeat successful scenarios. One such tool is zignaly copy trading. Most traders make a profit thanks to additional trading tools. Certainly, a lot of people are aware of Bitcoin, but it isn’t the only cryptocurrency available…
Certainly, a lot of people are aware of Bitcoin, but it isn’t the only cryptocurrency available. Currencies such as Dogecoin have attained huge supporters over the years, prompting several other meme coins like Shiba Inu, Dogelon Mars, and Doge Dash, among others.
Even though most of these coins are created out of jokes and sarcasm, few of these coins often make it to the mainstream. For instance, there was a huge rise in the price of Dogecoin in May 2021 which saw the token go mainstream and attracted many supporters. Presently, Dogecoin ranks eleventh on the list of top crypto assets in the market by market cap.
Shiba Inu is another prominent meme coin that was launched in 2020. The project is a brainchild of an unspecified person known as Ryoshi to make fun of Dogecoin. Presently, Shiba Inu, with a market cap of $38 billion ranks ninth on the list of top crypto assets in the market by market cap.
Frankly, meme coins are not meant to be taken seriously but no doubt can still gain a massive surge in price. This is especially true when members of the cryptocurrencies society join the niche to be part of the joke.
While the central idea behind meme coins which have existed for some years now is all jokes, some of these coins were created not just for jokes. Some of the coins were also launched as a result of influential celebrity comments. To this end, meme coins’ prices can be very volatile because anyone can create them in a very high supply. Meme coins are quite unlike bitcoin which is processed in a limited number of units to circulate. Hence the high volatility.
As the crypto industry continues to thrive, meme culture has grown to become an essential part of the industry. It can not be overlooked or dismissed. Just recently, one of the most popular meme wagons is the mention of McDonald’s as a feasible job opportunity during this bear season.
Unexpectedly, McDonald’s hats are seen everywhere. In fact, the Salvadoran president, Nayib Bukele, being a supporter of bitcoin also joined the meme wagon. He teased by changing his profile picture to one where he Photoshopped himself in a Mcdonald’s cap and T-shirt.
It also didn’t take long for the fast-food chain to notice this and also jump on the meme wagon.
McDonald’s, just like many potential members of the cryptocurrency society (Cardano founder, Charles Hoskinson and Altcoin Daily) reacted with the ongoing actions within the Crypto Twitter community.
is it because i said wagmi https://t.co/vMucAfNnDW
— McDonald’s (@McDonalds) February 4, 2022
McDonald tweeted asking how the crypto markets are taking off, and Binance’s Twitter account gave a reply. The reply was that of a picture of a crying face lurking behind a smiling mask. McDonald’s then reassured the world’s largest crypto exchange with a warm, short meaning for “we are going to make it.”
— Binance (@binance) January 24, 2022
It’s vital to reiterate that meme coins are more of a community-driven happening that lacks credentials. Therefore no one can certainly announce whether meme coins might become stablecoin or collapse as soon as some other phenomenon catches everyone’s attention.
Although, the Cryptocurrency industry is one of the top leads in taking risks and can be unpredictable.
Regardless of the uncertainty of marketplace conditions, Analysts anticipate that BTC, Ether (ETH), and stablecoins like USDT will retain prominence throughout 2022. This doesn’t mean it’s a bad time to invest, especially wehn you can get a free crypto bonus just for opening an account.
Also read: How to Start Effective Cryptocurrency Day Trading from Scratch?
