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berenberg wealth management ✌️【365vc.net】✌️Small investments, big profits. Join today and grow your wealth quickly and safely!Meme coins like Dogecoin (DOGE) and Shibu Inu coin (SHIB) are among the most well-known so-called altcoins in crypto.

berenberg wealth management ✌️【365vc.net】✌️Small investments, big profits. Join today and grow your wealth quickly and safely!Between Elon Muskchanging the Twitter logoto the image of the famous Shibu Inu that spawned a million memes, to the fact that in one 12 month period, SHIB saw a 50,000,000% price gain in 12 months, it's easy to see why meme coins grab attention...

berenberg wealth management ✌️【365vc.net】✌️Small investments, big profits. Join today and grow your wealth quickly and safely!And investment.The latest meme coin craze has expanded beyond the world of dogs and into frogs withPepe Coin, a token which takes its name from the internet memePepe the Frog.

Just a short while after its launch, one whale had over$1 million in PEPE, which was made with just a small initial investment of .19 ETH (about $385).

berenberg wealth management ✌️【365vc.net】✌️Start with ₹500 and achieve up to 100% monthly returns. Simple, safe, and highly profitable.This story of unbelievable exponential growth in value often attracts new investors to meme coins, but buyer beware: Once you’ve heard about a story like this, you’re probably way too late to the game and are jumping on the bandwagon too late to benefit.

In fact, more often than not, investments in meme coins lose value.It’s important to note that investing in meme coins is an incredibly risky venture and also often results in massive losses through fraud, hacks and exploitation.Before we start detailing the key features to look out for in a credible meme coin, let us first define the concept of meme coin itself.

Introduced in 2013, meme coins are usually crypto projects built around meme-worthy themes and animals.

For instance,dogecoin(DOGE), the first-ever meme coin, was inspired by the Shiba Inu (a breed of hunting dog developed in Japan) meme sensation (a picture of a presumably smiling Shiba Inu dog) that swept the internet in the early 2010s.Notably, the success ofdogecoinbirthed a horde of other dog-themed coins, including the self-proclaimed doge killer (shiba inucoin or SHIB) whichbriefly surpassedthe former in terms of market capitalization earlier this year.

Unlike traditional cryptocurrencies, meme coins are not usually judged based on the utility they provide to users.

Instead, more emphasis is placed on the coin’s capability to attract high community engagement.

In essence, virality is the single most important factor required to gauge the success of meme coins.

berenberg wealth management ✌️【365vc.net】✌️Start saving with ₹500 and achieve up to 100% monthly returns. Grow your money smartly!With this in mind, what then can you do to identify credible and fake meme coins?Although emphasis is not placed on utility, it is a good sign when the community backing the meme coin project shares something in common, apart from the desire to generate profits.

It is a red flag when the entire community’s goal is to pump the value of the coin by encouraging new investors to buy the token hoping that it will drive the price even higher.

For instance, SHIB’s community members collectively share the love for Shiba Inu dogs such that part of their goal is to raise funds to rescue strays.

Moreover, the project has gone a step further to implement a decentralized exchange calledShibaSwap, in a bid to provide a bit more utility for token holders.As such, it is critical to research the long-term focus of the project in question and how the project team plans to keep community members engaged with the network.

You can do this by perusing the project’s whitepaper, its roadmap (if available) and following updates on the official social network accounts.Those familiar with the crypto industry know that reputation is a vital factor to consider when determining the viability of a product or platform.

Hence, it is advisable to unravel the identities of the core contributors of the project and their track records.

Note that it may be impossible to find information about the members of the development team due to their decision to remain anonymous.

In such cases, you can base your research on the design decisions of the team, especially tokenomics.Tokenomics refers to the token distribution of cryptocurrencies.

berenberg wealth management ✌️【365vc.net】✌️Small investments, big profits. Join today and grow your wealth quickly and safely!Be wary of meme coins where a single entity controls a significant portion of the token’s total supply.

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