We are very excited to share that Memecoin (MEME), is now listed on Coinhako.
What is MEME?
Memecoin (MEME) is the native token of Memeland – a Web 3-focused venture studio founded by 9GAG.
Yes, you heard it right— MEME is by the same 9GAG, one of the pioneers popularizedmeme culture on the internet.
What is Memeland?
The Memeland ecosystem was developed with the aim of building social products for communities by combining creativity, the culture of memes and Non-fungible tokens (NFT).
Leveraging the experiences of the 9GAG journey, the Memeland team aimsto create value for their community and develop creator economies that link meme creators with the MEME token, NFTs, and a shared sense of creativity.
How does MEME work?
As per the Memecoin whitepaper at this time of writing, MEME is built on the Ethereum network and complies with the ERC-20 standard.
However, unlike many other popular memecoins in the market, the project has been transparent about the fact that it has no functions, utility, intrinsic value or roadmap, and exists purely for entertainment purposes – perhaps in the spirit of staying true to the roots of internet memes ?
Why does MEME stand out?
Despite the lack of promises and development for the token, MEME has still managed to gain considerable traction since its launch in late October of 2023.MEME was first released to the public at a price of around US$0.001 and surged to US$0.04 by 15 November 2023, netting a gain of close to 4000%.
At the time of this writing, 5 March 2024, MEME sits at a market capitalization of over US$500 million, and has gained over 178% (year-to-date) to a value of US$0.05 per MEME.
What is a Memecoin (as a category)?
While Memeland has adopted the name Memecoin for its token, the use of the term “Memecoins” also exists as a sub-category of cryptocurrencies.
To prevent any confusion, a Memecoin (as a category) is a type of cryptocurrency that is inspired by or based on internet memes, popular culture references, or jokes. Memecoins often have playful or humorous branding and marketing strategies, leveraging the viral nature of memes to attract attention and build a community of supporters. These coins may also serve as digital collectibles, with unique designs or themes that appeal to meme enthusiasts.
Some examples of popular Memecoins that are already on Coinhako include:
1. Pepe (PEPE): A cryptocurrency which pays homage to the well-known Pepe the Frog meme. It has served in popularity since its introduction in April 2023 and sits at a market capitalization of over $2.9 billion at this time of writing.
2. Dogecoin (DOGE): Originally started as a joke based on the popular "Doge" meme featuring a Shiba Inu dog, Dogecoin has gained a strong following and community support over the years.
3. Shiba Inu (SHIB): Inspired by Dogecoin, Shiba Inu is another meme-based cryptocurrency that features the same breed of dog in its branding and marketing.
MEME also definitely falls under the category of Memecoins.
What can you do with MEME on Coinhako?
MEME will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment methods)
- Purchase MEME instantly with Visa / Mastercard
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.
