Meme Economy
The “meme economy” refers to the phenomenon of cryptocurrencies or tokens gaining popularity and value based on internet memes and viral trends. In this context, the value of a particular crypto asset or token is often driven by the attention and enthusiasm generated by online communities and social media platforms. Meme-based cryptocurrencies or tokens are often created as a form of satire or humor, inspired by internet memes, popular culture references, or viral trends.
In particular, the emergence of non-fungible tokens (NFTs) and meme coins helped the meme economy gain substantial attention amid the rise in interest in cryptocurrencies. Due to online forums and viral social media campaigns, meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have seen significant growth in popularity and market value.