Memecoins emerge as a notable category in the cryptocurrency market. They gain traction largely due to social media influence and community backing. Their valuation often hinges on popularity rather than utility. Many memecoins exhibit significant price volatility. Traders engage with these coins for short-term gains. Some developers create memecoins to draw attention to broader projects or causes. Regulatory bodies show concern over the potential for fraud and market manipulation associated with these assets. Market participants urge caution when investing in memecoins.
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