Meme coins are a promising area for investing and trading, and many developers are keen to bring a creative aspect to their work. Those looking to get into this space can familiarize themselves with instructions from our experienced consultants on how to make a meme coin and real-life examples of how it all works. All you need is a small investment, an interesting idea and a community that supports your platform and the new type of cryptocurrency you are launching in the market.
Why does anyone need to create a meme currency?
Technically, creating a meme coin is quite easy and you can earn up to 1000% of the investment amount or even more. Therefore, you might be interested in dealing with this topic.
What is it?
A meme is a funny viral photo or video that spreads across the internet and captures the attention of an audience of millions.
A meme token, on the other hand, is one of the popular variants of image and video based cryptocurrencies (memes). Initially, it had no real financial or resource usage case or value. Meme token creators make money off the popularity of the meme itself, however even that token needs a pool of liquidity built in and increasing in value. In short, anyone can create a meme coin, launch it and make huge profits.
The most surprising (and first) successful example of a meme currency was the Japanese dog Shiba Inu and the cryptocurrency Dogecoin. It was released in 2013 and is still popular.
To better understand how meme coins work and why they are so popular, it's worth exploring their features:
Meme currencies are quite volatile. Community driven, they can gain popularity through active community support and FOMO. This is also the main risk of this type of cryptocurrency, as the price can fall for the same reasons: when traders start focusing on other cryptocurrencies and lose interest in the current one.
Meme Coins can have unlimited or large supply. For example, if Bitcoin was created as a currency that was not subject to inflation due to limited supply, the situation is different with meme coins. DOGE has no supply cap, while SHIB has a supply of 1 billion tokens. The more coins, the higher the inflation. This explains the relatively low cost of meme tokens. Also, only a few of them have a well-developed coin burning mechanism.
Many developers can figure out how to create a meme coin and launch their product. This creates competition and a depreciation of each individual token.
The trading and investment community is suspicious of meme tokens due to the high-risk situation where the developers themselves and the first wave of token holders start to actively sell them.
The main idea is to actually make money from meme tokens and many people who understand how to make a meme coin are successful in this business. You need to analyze the market, see trends, look at trading resources and follow the news.
The most popular projects
Since their launch (in 2013) until today, Dogecoin (DOGE) and Shiba Inu (SHIB) have been the leaders in the meme coin market. Its popularity is boosted and supported by media personalities, influencers and entrepreneurs.
They compete with some other designs:
In total, several hundred meme tokens are circulating in the cryptocurrency market, but only 80 of them are considered worthy of investors' attention.
How do I create a meme currency?
Analysts stress that anyone can figure out how to make a meme coin. The technical aspect is not very complicated. It's better to work with professional developers who can explain some technical details. But in general, the process takes place in several stages. Be prepared that each token works with Ethereum smart contracts, the execution of which carries a fee proportional to the load on the network.
choose a name
Your token will need a name and logo related to the meme that inspired you to create the coin. You can follow the example of SafeHog and DogeMoon or use original ideas. It's better to come up with a unique logo and name to avoid copyright issues.
design the website
Promotion directly affects the popularity and therefore the cost of a token. Tutorials on this topic often overlook the importance of raising awareness of a new currency. But even if you do some impressive social media marketing and the new meme coin name makes its way into the influencer community, people will still want to know more about the official website.
Keep your design simple and visually appealing, focusing on the benefits your token provides. These must be values shared by a certain community or by many people. It is thanks to them that the meme coins created 9 years ago continue to evolve and rise in price.
create the currency
A token based on a smart contract implemented on a compatible blockchain is created. This ensures its security and availability for many users. The easiest way to create a meme coin is using the MetaMask platform, which is the most popular among creators:
Connect and recharge your wallet.
Fill in all the necessary data and basic characteristics.
What functions need to be completed, enabled or disabled when creating a token?
Make sure all fields are filled in correctly before creating a meme coin. If everything is OK, click the Create Token button. You will be automatically redirected to the payment page. You need to pay a fee to implement a smart contract and confirm the operation again. After that, your new meme token will be created with necessary properties and ready to use.
This guide is based on the MetaMask platform, but you can also use DxSale and follow the same algorithm. However, it is better to follow the instructions above to interact with Ethereum smart contracts.
That follow? You must first add the token to Trust Wallet. To do this, open the wallet, click the "+" button and "add a custom token". You need to change the network to Smart Chain and input the token address, your name, symbol, number of decimal places and other details and save this data.
The liquidity pool can be created in any AMM protocol, e.g. B. Uniswap. After that, your task is to create the largest possible user community that facilitates the purchase and exchange of the token and creates its real value.
How to start the project
Then the product promotion phase begins and this is the most interesting part, because without the interest of a community, the coin will never increase in value. They can attract attention in different ways.
Listing on stock exchanges is one of the most important promotional tools. Although an altcoin is little known to investors and traders, it is only worth adding to small decentralized exchanges. After that, you can add the coin to aggregators like Coinmarketcap or Coingecko. But first you need to create documentation for the token, specifically a white paper.
public relations and marketing
The main thing experts agree on is that there should be a lot of publicity and attention surrounding a created meme coin and marketing strategy. It's best if a prominent media personality like Elon Musk appears in this regard (his tweets from him made Dogecoin popular in its day).
Another organic way to generate interest in a cryptocurrency is to incorporate it into a worthwhile socially useful/financially beneficial project, startup or idea that many people can enjoy. From this perspective, the token can become an investment option in a specific project.
Create viral content, use all available marketing tools, and don't let the hype subside until the project gains momentum.
social media activity
Many social networks do not allow targeted advertising related to cryptocurrency. But there are other ways to appear in them and be heard. It's about all kinds of collaborations, projects, news, etc. As of today, TikTok is considered the best medium for effective and safe promotion of meme coins.
Support for influencers
The best example of how influencers influence the value of tokens are Elon Musk's statements. Other influencers and big bloggers can also influence the price. Therefore, if you are interested in how to popularize a meme coin, then you can send a large number of coins to celebrities. It is this method that formed the basis of the Shiba Inu's popularity.
Do you need an ICO to create a meme currency?
Planning an ICO (initial coin offering) is more difficult today than ever before. It has more control, surveillance and documentation requirements. Instead, media interest in ICOs has dropped significantly. Bitcoin became popular precisely after this procedure, as all the media only talked about the wealth that cryptocurrency holders accumulated.
ICO is also losing importance due to the high level of competition among many new cryptocurrencies. For these reasons, the pre-sale of coins gained popularity and IEO - the withdrawal of a token on cryptocurrency exchanges.
The secret to successful meme projects
While part of society thinks investing in meme coins is crazy; others receive up to 1,000% of net income. In addition to high profitability, the speed of project development is also important - the value of coins often increases by leaps and bounds only a few months after the start of sales. Many investors enter this space just to study it from the inside. Everyone has their reasons for trying out meme tokens. There is not a single correct answer here.
Pros and cons of creating meme coins
How do I create a meme currency?
Use the MetaMask tool or take the source code of another token and create a new cryptocurrency based on it.
What do you need to create a meme currency?
You need to spot the trend and have at least minimal technical knowledge to know how to create a meme coin. You also have to invest a lot of effort to promote the project.
Do you need an ICO to create a meme currency?
It is not mandatory, but you can go through the ICO process if you see it as a perspective for the development of the project.