Tesla CEO Elon Musk recently stunned the X community with a memetic post that reads, “Just livin’ the meme,” which was accompanied by an image. This playful post garnered attention, reflecting Musk’s well-known penchant for memes and his ability to engage with the internet community.
Dogecoin founder Billy Markus, who goes by “Shibetoshi Nakamoto” on X, could not resist joining in the fun and responded, “memes are life.”
memes are life
— Shibetoshi Nakamoto (@BillyM2k) August 9, 2024
The Tesla CEO’s tweet paired with the Dogecoin foundation’s affirmation that “memes are life,” exemplifies how humor and internet culture meet in the world of cryptocurrencies. The meme culture continues to be a driving force behind the popularity of various meme coins, including Dogecoin itself.
Meme coins, inspired by internet memes, have gained massive attention and market value, largely driven by community enthusiasm and the viral nature of memes. What began as a joke with Dogecoin has evolved into a serious player in the crypto space.
Meme coins continue to gain popularity
According to a recent CoinGecko Q2 report, meme coins were the most popular narrative in Q2, 2024, accounting for 14.3% market share. Meme tokens have also remained among the year’s top performers.
One possible explanation for meme coins’ enduring popularity is their accessibility and ability to adapt to market trends, thereby attracting substantial community interest. However, it is vital to note meme coins tend to have higher leverage compared to most altcoins and are mostly driven by speculative appetite.
Dogecoin welcomes new release
Dogecoin has welcomed a new core release, Dogecoin Core 1.14.8. This is a new minor version release that includes significant bug fixes to the networking component.
As noted in a GitHub document, the release incorporates major bug fixes, which include decreasing the number of peer inv objects, improved transaction request tracking and orphan transaction handling, and improved reporting of difficulty adjustment mistakes.