How to Create Your Own “Meme” Cryptocurrency. Tips from LATOKEN
Is it worth bringing another token to the market without functionality? What are the ways to promote meme crypto? How to increase its popularity? Read in our new LATOKEN review!
In the cryptocurrency industry, "meme" tokens stand out. Their popularity continues to grow among crypto investors. This is indicated by the rapid growth in the number of Shiba Inu holders. The number of crypto investors who own the altcoin exceeded 995 thousand. In October 2021, the number of Shiba Inu holders increased by more than a third, and the SHIB token has risen in price by more than 1000%.
Other projects continue to rapidly develop as well. For example, the developers of Floki Inu have entered into a partnership agreement with the Italian football club Napoli. As part of the agreement, the cryptocurrency logo will be placed on the club’s players’ uniforms and billboards at its home stadium.
In October, ads for the altcoin appeared on public transport in London with the slogan "Missed Doge? Get Floki." After that, it became known that the UK Advertising Standards Authority (ASA) began checking the Floki Inu advertising campaign. The regulator checks the legality of promoting such products in public transport systems.
So is it possible to create your own "meme" token? What is required for its successful promotion? You will find the answers to these questions by reading our new LATOKEN review.
Anyone can create a "meme" token
There are hundreds of thousands of different digital coins. But crypto investors are interested in only a small part of these crypto projects. This means that the marketing strategy is responsible for the success of the token, which almost always depends on cash investments.
Technically, creating a token is very easy, and anyone can do it. But without funds, investments and hundreds of man-hours for its promotion, it is an almost meaningless idea.
The technical algorithm for creating a token is as follows:
- Install the Metamask browser extension;
- Find a ready-made Ethereum smart contract template on the network;
- Edit the template by changing the required data (token name and other parameters);
- Send a smart contract to the blockchain and pay a commission for its execution.
The commission for the execution of a smart contract is $30–50, depending on the network load. And after 5 minutes and $30, your token is created. Yes, it’s pretty simple.
How to promote your meme token. LATOKEN review
The price of "meme" cryptocurrencies directly depends on the "hype" around them, which is usually created by influencers. If initially there are no resources to promote the coin or contact with a well-known media personality like Elon Musk, then it will be difficult to make the token popular.
We would like to remind you that despite the fact that Dogecoin is the first of its kind "meme" crypto, the token got its real fame thanks to Elon Musk’s tweets.
It is much more interesting, promising and more difficult to create a project that will solve some problems of the industry, instead of creating another senseless and empty project.
One of the popular ways to promote tokens is to send most of them when distributing the emission to celebrities. This is exactly what the Shiba Inu project did. They sent half of the emission of the tokens to the co-founder of Ethereum, Vitalik Buterin. Later, Buterin burned 90% of his Shiba Inu tokens, and donated the remaining 10% to charity.
Another important step in promoting the "meme" cryptocurrency is listing on crypto exchanges like LATOKEN. In the early stages of development, when no one knows about the altcoin, it can be added to small decentralized trading platforms. It also makes sense to add a token to aggregators like Coingecko and Coinmarketcap, but for this, the project must have documentation (at least a white paper).
In the future, depending on the budget, you can also attract media personalities, popularize the token on forums and in community chats.
"Meme coins" are highly speculative financial assets that carry sizable risk, some of which could be outright scams. Users are advised to trade with extreme caution. Also, LATOKEN does not condone creation of cryptocurrencies just to scam traders and investors.
Do you want to learn more about the most promising tokens through LATOKEN Review, and always stay up to date? To do this, just follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.
About LATOKEN
- Ranked #2 worldwide in the startup tokens primary market with 220+ IEO’s since 2017.
- Has over 2 mln registered users, over 1 mln Android app installs.
- Is in the TOP 10 of CoinGecko rank by the amount of token pairs and coins listed.
- VCTV, a live streaming panel with high-profile industry leaders, produced over 500 shows to advise traders and investors how to navigate the crypto world with discussions, news updates, and interviews.
- Advisory Board includes former CFOs from JP Morgan and Paypal.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.
