Memecoins: From memes to multibillion-dollar pumps, scams and rug pulls
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Memecoins, or meme cryptocurrencies, started as a cultural phenomenon with the launch of Dogecoin (DOGE) in 2013, inspired by an internet meme and a critique of the wild crypto market at the time.
Dogecoin was developed by software developers Billy Markus and Jackson Palmer as a joke to mock what many saw as an irrational investment hype surrounding cryptocurrencies.