Kitty Meme Coin – What is a meme coin or token?
Kitty Meme Coin is an open-source peer to peer Digital Currency which can easily be sent through the internet. It is created as a light-hearted alternative to traditional Cryptocurrencies like Bitcoin, Dogecoin etc. It is launched to develop a collective token based on the Cat meme with a big dream of developing a big ecosystem for Kitty lovers. Kitty is known as the first of its own kind trending new cryptocurrency token in the world and it is here to Meow all the dogs away. Kitty Meme Coin is a collaborative project that is affordable as well as adorable for everyone. Being on the Binance blockchain kitty meme coin will be cost-effective in terms of gas fees, and transaction speed is much faster as compared to the Ethereum blockchain.
These coins reflect a joke or a silly take on well-known cryptocurrencies, gaining popularity in a short amount of time and often hyped online by prominent crypto influencers and retail investors seeking short-term profits.
Basically, meme tokens are defined by their method of viral promotion.
Here are six characteristics shared by all meme tokens to help you identify them.
1. Meme tokens are known for their virality
It is necessary to understand what a meme is in order to understand what a meme token is. The meme concept was introduced by biologist Richard Dawkins in 1989.
2. Concept or brand behind a meme token is usually based on popular culture or a funny-sounding name
Since virality is the driver of a meme token, the brand or the face of the token needs to be fun, cute, and memorable.
3. To drive hype and virality, social media is used
Meme tokens achieve virality by collaborating with influencers and promoting their tokens on social media.
4. The most common trading platform for meme tokens is a decentralized exchange, such as Pancake Swap or Uniswap
Although this isn’t the case always, it is quite common for meme tokens to be traded exclusively on DEXs, and not listed on centralized exchanges (CEXs). DEX, however, allows anyone to list tokens through liquidity pools – permission is not required, this is called “permissionless-ness” in Defi.
5. The development team’s project, admits that it is a meme token or uses language to that effect.
It describes itself as “the people’s cryptocurrency” and that it combines the “power of memes with real utility and charitability”.
It is highlighted as a selling point that the number of followers reached via the influencer network. Recall point #3 To drive hype and virality, social media is used
6. The meme token’s purpose is marketing
Many tokens in crypto are based on a claim that they were created to solve a problem (within the cryptocurrency world, that is).
An example of a stablecoin, such as USDC (USD Coin), is an attempt to address the volatility problem associated with cryptocurrency markets and bridge the burgeoning crypto-ecosystem with the traditional world of money.
Since meme tokens are purely promotional, and buyers gain only from viral marketing of said tokens, they might actually be classified as securities.
List of Meme Tokens
- Kitty Meme Coin
- Cat Coin
- Shiba Inu