What is a meme coin?

Meme coin: A token built on a joke, meme or trend, with no product behind it; its price runs on attention.

Meme coins can do 100x in hours and lose 99% just as fast. Most new ones are abandoned or scams within a day. The few that survive (such as BONK, WIF or Fartcoin) build communities worth hundreds of millions. That is why data on who buys and who promotes a coin matters more than the meme itself.

Example