The crypto world is full of terms like altcoins and meme coins. But what’s the difference? Are meme coins a type of altcoin?
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Altcoins: An Overview
Altcoins are any cryptocurrency other than Bitcoin. They aim to improve upon Bitcoin or offer new features, such as smart contracts or faster transactions.
Meme Coins: Driven by Virality
Meme coins, on the other hand, gain popularity through viral internet memes and online communities. Their value is often based on hype rather than technological innovation.
Key Differences
- Origins: Altcoins focus on tech; meme coins on viral appeal.
- Technology: Altcoins introduce new features; meme coins often don’t.
- Community: Both have strong communities, but meme coins rely heavily on them.
- Purpose: Altcoins aim to solve problems; meme coins are often for fun.
- Value: Altcoin value is linked to utility; meme coin value is driven by sentiment.
Meme coins can be considered a subset of altcoins. However, their origins and value drivers differ significantly. Understanding these differences is key for smart investing.
