"#Memecoin took a strong position in the price-performance last week, with $SHIB leading the dog army.
What are the key value support behind #meme coins and what is the tipping point for investors?"
Nowadays, you can't just wake up and not see any headlines about crypto-related topics. Mostly, memecoins are the ones taking over the crypto-related topics. This is because October has been amazing for the self-proclaimed "Dogecoin Killer," Shiba Inu, which surged by over 340%.
Following this, a positive sentiment started growing around cryptocurrency, and mainly, meme coins have also given out their best. Notably, DOGE, SHIB, and ELON are getting more attention. So for this reason, KuCoin gave some of the crucial factors that support meme coins growth.
The crypto exchange highlighted that memecoins’ growth and performance are tied to how celebrities like Elon Musk and other investors promote these coins through their jokes, internet memes, and sometimes the images they share on social media.