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What is meme coin in crypto?

Meme coins are inherently volatile due to several factors:

  • Lack of inherent value: Meme coins are often created as a joke or parody, lacking any real-world utility or tangible assets. This lack of underlying value makes them highly speculative and prone to sudden price movements.
  • Market sentiment and social media influence: Meme coins heavily rely on social media hype and trends. Positive or negative sentiment can cause drastic price fluctuations as investors react to online discussions and influencers' opinions.
  • Liquidity and market manipulation: The relatively low liquidity of meme coins makes it easier for large holders to manipulate their prices. Whale investors can buy or sell significant amounts, causing sharp price swings that can trigger panic buying or selling by other market participants.

Last updated 10/23/2023, 7:54:54 AM

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