Memecoin: What It Really Is and Why People Trade Them

When you hear memecoin, a cryptocurrency created as a joke, often tied to internet memes, with no real utility or team behind it. Also known as meme token, it’s not built to change finance—it’s built to go viral. Unlike Bitcoin or Ethereum, memecoins don’t solve problems. They don’t have whitepapers. They don’t need teams. They exist because someone laughed, posted a dog or a raccoon, and suddenly thousands wanted in. That’s the whole point.

Most memecoins live on Solana, a fast, low-cost blockchain popular for speculative tokens and high-frequency trading, or Binance Smart Chain, a blockchain optimized for DeFi and token launches with cheap transaction fees. Take Tema (TEMA)—a raccoon meme that blew up because of social media buzz, not code. Or Richard Mille (RM), a token that stole a luxury watch brand’s name and had zero connection to it. These aren’t failures. They’re exactly what their creators intended: attention magnets.

People don’t buy memecoins to hold. They buy them to flip. They chase airdrops, hop on Telegram hype trains, and dump before the rug pull. Some get lucky. Most lose everything. But the cycle keeps spinning because the internet never forgets a good joke—and it always wants the next one. That’s why you’ll see posts here about Corgidoge (CORGI), TOKEN 2049, and even FIWA—a token that was a tiny giveaway in 2021 and now trades for pennies. These aren’t mistakes. They’re case studies.

There’s no magic formula to win with memecoins. But there are patterns. You’ll find them in the posts below: the fake airdrops, the empty tokens, the chains where they thrive, and the ones where they die. You’ll see what looks like a gamble—and what really is one. This isn’t a guide to getting rich. It’s a map to avoid getting wiped out.