Home
News
- 1 Investing in the early stages of meme coins can be beneficial for capital gains
- 2 The Glizzy token is currently in a downtrend, trading near a weak support level.
Blockchain technology is crucial for the success of a cryptocurrency project, and its level of innovation and uniqueness determine its success. Memecoins are digital assets that are still popular among crypto enthusiasts. They have a significant overlap between web2 and web3, intertwined with the internet culture.
The Rising Popularity of Memecoins
Memes have become an important part of the crypto ecosystem, as many assets rely on trends. Although memecoins started as a satirical joke, they now attract serious traders.
A memecoin is a cryptocurrency inspired by or promoted using a popular internet meme. Some memecoins have branched out to build a whole ecosystem, creating a whole blockchain project out of a meme.
Blockchain technology and internet culture are interlinked, allowing coins and tokens inspired by memes to gain a significant following. Memecoins are known to be volatile, and their prices are primarily driven by speculation. However, memecoins are infamous for having no utility or purpose beyond that speculation.
Dogecoin was the first memecoin, created by software engineers Shibetoshi Nakamoto (aka Billy Markus) and Jackson Palmer in 2013. They marketed Doge as a playful and satirical answer to cryptocurrencies like Bitcoin.
Despite not having any solid use cases, memecoins brighten up the blockchain with their fun and lighthearted nature. People try to buy memecoins before they skyrocket to make a profit, although most meme coins fade into irrelevance along with their corresponding trend. Therefore, it is important to do research before attempting to buy them.
What is the GLIZZY Token
The Glizzy token is a popular meme coin. According to its about section, “Glizzy is for the people. Glizzy is made by the people. Everyone loves Glizzy. Everybody wants a Glizzy.”
In TradingView, the token is trading with the ticker name of ‘GLIZZYWETH_AA1CAB’. The Glizzy chart shows a significant decline since the token started trading. Currently, the GLIZZY price is at the support level of 0.0222 WETH. The resistance level is at 0.35851 WETH. The trend is down, and the volume levels are low.
What is the Future of Meme coins?
The future of meme coins is limited, and they have no underlying value. As technology evolves and new ideas pop up, meme coins will not benefit from this. They leave a weak mark on financial lives and lead to inspiration, entertainment, and more challenges.
However, investing in the initial stages of meme coins like GLIZZY, when the coin is booming, can be beneficial for capital gains. The community grows with the memes, and the future of meme coins’ destiny is not written in charts or graphs. It is created through memes, tweets, likes, and shares.
Charts and graphs do not determine the destiny of meme coins, but investors can analyze past and present workings and predict future workings of meme coins. However, it will always be uncertain because of the above discussed lack of intrinsic value.
Summary
Memes have become a significant part of the crypto ecosystem, and meme coins are now attracting serious traders. Although they lack underlying value and have a limited future, investing in the initial stages of meme coins can be beneficial for capital gains. The future of memecoins depends on memes, tweets, likes, shares, and their community’s growth.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or any other related indexes comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
