How to Identify a Good Meme Coin

[Nomad]

When Doge Coin was created the developers had no any future plans for the token, they were just trying to create a joke for the crypto market that was rapidly expanding back in 2013. Now dogecoin is one of the most popular coins. Many meme coins are launched this way, with no initial plans, but they develop plans over time. That's why it's hard to judge a meme coin and know whether it would be profitable or not. One thing that can help you out is checking its community based support, as well as seeing how popular it is among the early users.

 

[Riberet19]

When Doge Coin was created the developers had no any future plans for the token, they were just trying to create a joke for the crypto market that was rapidly expanding back in 2013. Now dogecoin is one of the most popular coins. Many meme coins are launched this way, with no initial plans, but they develop plans over time. That's why it's hard to judge a meme coin and know whether it would be profitable or not. One thing that can help you out is checking its community based support, as well as seeing how popular it is among the early users.

To identify a good meme coin we have to focus a bit on the community behind it, I think this is a good indicator of whether the meme coin can develop favorably, the problem today is that there is too much competition in the meme coin market, also the total supply is important, Since being a meme coin doesn't have to have a gigantic supply, reviewing its road map or white paper if it has one is also a good idea.

 

[Nomad]

Yeah, a meme coins thrive on community support and sometimes the community is so strongly involved in the coin that the coin continues to thrive. Look at dogeocin, a lot of people are supporting it since 2013, making is one of the most popular tokens for a long time.