Dogecoin paved the way for meme coins to flourish, with the market now including thousands of meme coins with tens of billions in collective market cap. One of the newest meme coins generating a lot of buzz and playing off of Dogecoin is Maxi Doge.
Despite the similar names, these are not the same projects. Instead, Maxi Doge is a new meme coin that leans into hyperbole and meme culture, with a larger-than-life mascot and branding that’s all about “maxing” gains in crypto and in the gym.
Meme coins generally do not have utility but are instead speculative instruments. Some investors might like the branding behind a particular meme coin, for example, and invest in the hopes that others will do so too, thereby driving the price up. That could be the case…
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Source www.businessinsider.com
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