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It’s Time for Memecoins to Go
Memecoins are cryptocurrency in form of tokens created on smart contract chains such as Ethereum. They typically lack any real use cases and have a short lifespan which makes them a bad investment decision.
The topic of focus for this article are ERC-20 and BSC-20 tokens that were created to piggyback, and therefore profit off of significant social or mainstream media events. As the title suggests, it’s time for these coins to die.
In order to build a case as to why they need to go — besides the obvious — we will be analysing the memecoin phenomenon from through the lens of two major mainstream media events: HM Queen’s Passing, may she rest in peace, and the Live Streamed trial of Jonny Depp vs Amber Heard.
The Queen’s Passing
Queen Elizabeth II passed away on September 8 at the age of 96. She was the longest reining monarch in UK’s history and ruled the throne for over 70 years. Her Death has been met with sorrow through the world, but mere hours after the her passing, multiple memecoins had been released onto the market.
One of the most popular memecoins, “Queen Elizabeth Inu” quickly gained over 11,000%…
