The Rise and Fall of Meme Tokens

Here’s another class of crypto assets with no practical use: meme tokens. The creators of the first meme coin, DOGE, made it clear that it was just a joke.

Yet, there’s still demand:

• Some buy meme tokens to be part of a community (like fan tokens).
• Some love the meme itself and support its creator.
• Others treat it like a lottery, hoping for profit.

Blockchain teams encourage meme tokens, as every transaction with them requires native coin fees. If a meme token gets hyped, it can also boost the blockchain’s visibility.

Recently, a meme pad launched on Ripple Ledger. After two days, most tokens on it have barely attracted attention, with many stuck at 62 XRP (about 35 USD).

Ripple fans hoped these projects would raise XRP’s value, but the results show otherwise. It seems the meme token trend may be fading.

But as long as there’s someone on the Internet who is ready to swap meme tokens for other cryptos, you’ll find the best rates at rabbit.io.