What is a Meme Coin? Dogecoin to the Moon!
What is a Meme Coin? Dogecoin to the Moon!

Summary/Abstract: The rise of cryptocurrencies has shaped the current economic landscape, while also raising many conceptual issues. This paper tackles one problem. One widely known fact about cryptocurrencies is the existence of meme coins, such as Dogecoin (DOGE) or Shiba Inu (SHIB), which are very popular as assets for retail investors; accordingly, their dynamics have been studied to some extent by economists. However, to date no one has attempted to focus on a basic conceptual question upon which, to a certain degree, all of these studies depend: what is a meme coin? This paper addresses this question. By analysing paradigmatic examples, I argue that meme coins should be defined as a cryptocurrency characterised by three properties: i) community first, ii) posterior utility, and iii) zeronomics. The paper concludes by presenting an outline of scientific challenges and problems where the proposed concept of a meme coin could prove useful, highlighting potential applications and areas for further exploration.

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