There is a new trend in the crypto space surrounding the “Meme” or “Shitcoin” tokens that is very enticing. In the spirit of full disclosure, I am holding some of these (just in case).

Following a very successful campaign from Safemoon there have been dozens of Meme tokens using a similar strategy to drive up account holders and organic social media advertising.

Here is how it works. Instead of traditional tokenomics where rewards are distributed for participating in the making of each block in the blockchain, tokens are generated on a massive scale and then decreased through activity. For example, there will be 1 Quadrillion tokens generated and available at launch. The project will do a massive burn of say 30% and then use a tax system to incentivize activity. Most seem to follow a 3 to 10 percent tax that splits every transaction. Some goes to a burn wallet, some to a charity, and the rest to existing holders as an incentive for HODLing.

The idea is a great experiment in the ways blockchain incentivizes behaviors. Everyone holding billions of tokens wants increased activity, so they receive larger rewards and scarcity drives up the price. The way to make money is to increase the transactions, burn more tokens, and gain the passive staking rewards.

Some of the projects seem to have good potential. Others seem like a complete joke. If you want to look for yourself, you can find most of them on the Binance Smart Chain Network. Almost all are accessible through Pancake Swap.

Some of these include – Babydodgecoin, Floki Inu, Tiger Cub, Spacebabyfloki, SHIBA RISE, and the ridiculous names just keep going.

Whether you want to place a wager on one of these going to the moon or just want to have fun betting on some new projects, I hope you enjoy as I have.