Post
Topic
Board Altcoin Discussion
Re: Most "Memecoins" are not even coins, most "Memecoins" are tokens
by
Dr.Bitcoin_Strange
on 05/05/2024, 22:49:35 UTC
When it comes to memecoins, it needs to be mentioned: Most "Memecoins" are not even coins, most "Memecoins" are tokens.

Often, it is just a marketing move to designate a crypto asset as "Coin" but in reality, it's a token.


A coin is based on its own, unique Blockchain, like Bitcoin, Litecoin or Dogecoin
A token is based on an existing Blockchain, like Ethereum tokens (for most ICOs) or based on BNB (for many Memecoins).

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

@OP, apart from being a newbie to cryptocurrency, every other old member of the cryptocurrency community is supposed to be aware of what memecoin is. Apart from Bitcoin, every other coin or token is referred to as an altcoin. The name memecoins only emanated from the symbolic representation of the coin or token, and like I said above, every cryptocurrency enthusiast is already aware of the difference between a coin and a token; it is nothing new.

As we all know, the first memecoin is Dogecoin, and they have their own blockchain. Because the symbol of the coin was a meme and they had their own blockchain, it was called a memecoin, from which the idea was drawn to create other memetokens, but people are now generally referring to all those altcoins that have a meme symbol as memecoins while it's not supposed to be so. I remember that a few times I have been specific to say, "memecoin and memetoken".