Meme coins are getting increasingly popular, and lately, prominent meme coins such as Shiba Inu and Dogecoin have outperformed certain conventional coins in the market, demonstrating how prevalent meme coins are among various crypto projects.
Understanding Meme Coins
Meme coins are a type of digital currency that is inspired by popular social jokes, satire, happenings, entertainment, and gags. There are now over a hundred meme coins in circulation, according to reports. Shiba Inu and Dogecoin are two of the most well-known meme coins on the market, but the $GM token is also a famous meme that is being used by several projects.
The GM Surge
GM is a common shorthand meaning “good morning,” but because of its long history, it is now a bonding factor for many crypto societies. While the majority of its history is unknown, it was initially stated to be used in 2017 and was created as a community-first effort to honour Raj, the co-founder of Solana, who was fought for the right to use gm.
His ban from Twitter infuriated his fans, prompting the creation of the $GM coin as a form of resistance. GM is often regarded as a cultural movement, a meme that brings crypto enthusiasts together. For instance, several discord groups have distinct “GM” groups.
The GM Coin movement is at a fork in the road between social media and blockchain. The basic idea is that the price of the token will reflect the organic spread of the “gm” meme on social media networks.
The New BTC?
The Ethereum blockchain underpins the ERC20 token Gm. A ten per cent tax is applied to each transaction. This ten per cent includes two per cent for holder reflections, four per cent for Uniswap auto liquidity locking, and four per cent for the marketing wallet. The popularity of GM is skyrocketing. It’s not just a meme; it’s a full-fledged movement. People all across the world have started using social media to spread a positive message to communities that are waking up.
Gm tokenized its movement into $gm on the Ethereum blockchain, which is presently listed on three major centralized exchanges as well as Uniswap. With over 5,000 Telegram members, 10,000 Twitter followers, and 10,000 token holders, the community has risen quickly.
The GM co-founders are working hard to expand their tokens to other blockchains, and their tokens have been listed on several exchanges. This grassroots movement shows no signs of slowing.
Memes are Spreading Across Projects
The crypto space has found a method to illustrate the value of brand loyalty through social movements and memes. Many financial advisors use advanced technologies to evaluate a company’s true value. These groups, on the other hand, have pioneered a novel method of demonstrating worth. Meme coins aid in the promotion of crypto projects’ image and popularity.
For instance, after the success of the Netflix series Squid Game, $SQUID was born, and many other memes have copied real-life events or jokes to assist projects to gain traction. GM is a great example of a project that was shaped by social trends. The project has already earned more than $100 million in TVL, demonstrating how popular it has become in the community in just a few days.