A cryptocurrency that is associated with some theme, often as a joke rather than a serious product. Dogecoin was the first meme coin because it was named after a popular dog on the Internet. Meme is the actual name of another cryptocurrency, and there have been cryptos with meme names such as "imemecrypto," "pepememefrogree" and "jakememe70."
In April 2021, crypto symbol ELON for Dogelon Mars, named after Elon Musk, increased 40 times in one day before selling off. Of course, if a coin is valued at 1/100th of a cent, a 40x increase is still a minuscule amount. Nevertheless, everyone's investment is raised 40 times, and an original purchase of a thousand dollars becomes $40,000. See
Shiba Inu,
meme,
Dogecoin,
GM WAGMI and
cryptocurrency.