Memecoins won’t die.
In the last cycle, we saw the rise of Dogecoin, a satirical take on Bitcoin, peak at almost $0.7 thanks to the hype around meme stocks. As it continued to rally to unbelievable valuations, derivatives such as Shiba Inu and Floki Inu also saw multiple 1000% rises.
Today, we have Pepe. Inspired by cartoon character Pepe the Frog – Pepe is likely the fastest growing cryptocurrency we’ve seen this year. Rising from a sub $1M market capitalization, to number #44 on CoinMarketCap’s list in under a month.
With interest returning to memecoins, here’s a guide on how to create your own – in under 30 seconds.
Memcoin Mania – Without The Coding Hassle
This article is largely based on a guide by whitelights.eth. If you have yet to watch his guide, click the link HERE, or check out the twitter post below.
In the guide, he heads to Open Zeppelin’s contracts wizard, an interactive generator that allows you to bootstrap your own contracts.
In my example, Open Zeppelin helps to code the token based on data provided such as Name, Symbol, and Premint supply.
Essentially, type details in green box –> Open Zeppelin codes for you in red box.
You can also adjust other parameters such as mintable, burnable, flash minting, and more in the checkboxes below.
Next, clicking “Open in Remix” at the top of the page brings you to remix.ethereum.org, a toolset that allows you to test, develop, and deployer EVM-compatible smart contracts.
First, click on the solidity compiler tab (green box), head to advanced configurations, enable optimization, and compile the contract.
Once done, head to deploy and run transactions in the tab below, and change the environment to Injected provider – metamask (green box).
Next, press deploy (red box) and approve the transaction in your metamask wallet.
Congratulations! You know have an ERC-721 token live on the blockchain!
Launching your own memecoin comes with a slew of risks, and does not simply end at creating a token on the blockchain.
Next steps include creating an LP pair on Uniswap, for example, so that other users can buy and sell it. Furthermore, gas fees are extremely high on the Ethereum mainnet right now, so testing the deloy function on a testnet like Goerli first is highly recommended.
Regardless, memecoins continue to be the quickest path of adoption, despite the cycle we are in.
In the last bull market, memecoins were a quick (and painful) introduction for millions of users to crypto.
In this cycle, memecoins have turned many to learn how to create and deploy them, which could inspire many new Web3.0 developers going forward.
[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]
Featured Image Credit: Chain Debrief