Memecoin: From a joke to a market worth 63 Billion Dollar

Basic Facts About Memecoins

Memecoins are no longer just an internet joke. In June 2024, the total market capitalization of this category reached $63 billion, with six major coins being: DOGE, SHIB, PEPE, WIF, BONK, and FLOKI.

These cryptocurrencies are characterized by:

• Very low prices - allow investors to hold millions of units
• High volatility - It may rise by 500% in days or collapse to zero
• Full reliance on the community - Affected by a single tweet from a famous personality.

The Rapid Rise of Memecoin Culture in the Cryptocurrency Market

The phenomenon began in 2021 when internet comedians launched Dogecoin (DOGE) as a joke, but what happened was completely unexpected.

Main Stations:

• Elon Musk publicly supported DOGE → it rose by more than 10,000%
• The community that boosted GME did the same with cryptocurrencies.
• In 2024, the investment firm VanEck agreed to implement an official index to track the top 6 memecoins.

This development has made memecoins not just a gamble - they have become a recognized asset class.

Why do memecoins attract such a large number of traders?

The first reason: the feeling of true ownership

When you buy a part of Bitcoin, you may feel like a small fish. But with $100, you can own one million tokens of memecoin. This psychological feeling is very strong.

The second reason: community and belonging

Buying a memecoin is not just an investment - it's joining a community. There is a sense of shared ownership, shared challenges, and shared dreams of “100x returns”.

The third reason: Speed of profits

PEPE skyrocketed from nothing to a market cap of a billion dollars in just a few weeks. This is the kind of excitement that regular Bitcoin markets do not provide.

The Dark Side: Risks to Be Aware Of

shattered economies

Most memecoins have an unlimited or very large supply:

• SHIB: 1 quadrillion token (the unimaginable number)
• PEPE: 420 trillion tokens available for trading
• DOGE: No limit whatsoever

This means a permanent inflationary pressure. Even if the market value rises, the price of the individual token may not increase by the same percentage.

Rug Pull (

This is the real danger that turns a dream into a nightmare:

SQUID )2021(: A memecoin inspired by the popular Netflix series, it raised millions of dollars, then the team disappeared with all the money.

BALD )July 2023 (: The coin skyrocketed, then the developers drained the entire liquidity pool. The value dropped from thousands to zero within hours.

URF ) March 2024 (: Raised $450,000 in the initial launch, and the team disappeared after just 24 hours.

) the crazy volatility

WIF now at $0.34 ### down 2.14% in the last 24 hours (. But you might wake up tomorrow to see it has dropped 90% or risen 500%. This is not an investment - it's pure gambling.

A Smart Strategy for Dealing with Memecoins

) Step 1: Understand what you are buying

Before you put any money:

1. Check the token distribution - Do the developers own a huge percentage?
2. Check the liquidity reservation - Is the liquidity securely reserved?
3. Read the smart contract - Or seek assistance from a trusted security audit like CertiK

Step two: Don't put all your eggs in one basket.

If you want to participate in memecoin, make it only a small part of your wallet:

• 70% major cryptocurrencies: BTC, ETH ###$2.99K(, SOL )$125.37 (, BNB )$857.90 (
• 20% relatively stable strong coins
• Only 10% in crazy memecoin

) Step Three: Use Stop Loss Orders

If you buy a memecoin for $100, set a stop-loss order at $50. At least, you will limit catastrophic losses.

Step Four: Stay Alert

Memecoins are trending on social media:

• Follow the news on Twitter and Discord
• Note when the trend starts to weaken
• Be the first to leave the party, not the last.

A Look at Major Memecoins Today

Dogecoin ###DOGE(: $0.13

• The original ancestor of all memecoins
• Launched in 2013 as a joke and still the strongest
• No maximum supply

Shiba Inu )SHIB(:

• The response to DOGE from an unknown developer named “Ryoshi”
• It has a comprehensive system )decentralized trading platform, NFT, games(
• 50% of the tokens have been burned

Pepe )PEPE(: $0.00

• Inspired by the famous internet frog
• Pure focus on memecoin without an attempt for “benefit”
• Gained millions of followers in less than a year

dogwifhat )WIF(: $0.34

• The new relative that has attracted massive attention
• Focus on the memecoin only, without any technical promises.
• Market value of 341 million dollars

How to buy )If you decide to take the risk(

on Gate or any trading platform:

1. Go to the spot market
2. Search for the currency )DOGE/FDUSD for example (
3. Select “Market Order”
4. Enter the amount and confirm the purchase
5. You will see the tokens in your wallet.

For less popular memecoins, use decentralized trading platforms )DEX(.

Summary: Yes to fun, no to money

Memecoins are not an investment - they are a calculated gamble with a real chance of profit and a real risk of disaster.

The Golden Rule: Only invest what you can afford to lose completely.

The community is strong, the excitement is real, and profits are possible - but losses are too. Choose wisely.