Too Long; Didn't Read
Meme coins, or digital currencies named after online jokes or pop culture references, were born in December 2013 when Dogecoin, a parody cryptocurrency, was released. Doge, a Shiba Inu dog, is paired with bright typefaces and infantile words like "such awe" and "extremely concerned" in the bitcoin community's favorite meme. Meme currencies may seem authentic, but in reality, they are scams intended to take advantage of the rising meme coin craze. As many as 250 meme currencies are currently competing for the interest of crypto investors.