With reference to the concept of meme coins, consider the following statements:

Meme coins derive their value from cultural trends rather than intrinsic utility.

The first meme coin ever created was Dogecoin, launched in 2013 as a joke.

Meme coins are generally seen as a stable investment option in the cryptocurrency market.

The popularity of meme coins can lead to price volatility and speculative trading.

How many of the above statements are correct?

Question

Meme coins derive their value from cultural trends rather than intrinsic utility: This is correct. They often gain traction through social media and internet culture.
The first meme coin ever created was Dogecoin, launched in 2013 as a joke: This is correct. Dogecoin was inspired by the "Doge" meme and intended as a fun alternative to Bitcoin.
Meme coins are generally seen as a stable investment option in the cryptocurrency market: This is incorrect. They are highly volatile and considered speculative.
The popularity of meme coins can lead to price volatility and speculative trading: This is correct. Their prices can fluctuate wildly based on trends and market sentiment.

GKToday Admin · Accepted Answer

Only three

Meme coins derive their value from cultural trends rather than intrinsic utility: This is correct. They often gain traction through social media and internet culture.
The first meme coin ever created was Dogecoin, launched in 2013 as a joke: This is correct. Dogecoin was inspired by the "Doge" meme and intended as a fun alternative to Bitcoin.
Meme coins are generally seen as a stable investment option in the cryptocurrency market: This is incorrect. They are highly volatile and considered speculative.
The popularity of meme coins can lead to price volatility and speculative trading: This is correct. Their prices can fluctuate wildly based on trends and market sentiment.

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