5 practical applications for worthless memecoins

Memes are like the distilled essence of cryptocurrency: a mix of social trends, humor, and the potential for huge profits packed into tokens that don’t serve any real purpose. They might not be for the big-shot investors, but they sure attract a wide range of regular folks looking for some entertainment, connection, and maybe even a chance at hitting the jackpot.

According to Danny Yang, the founder of OnChainMonkey, memecoins are all about delivering insane returns compared to traditional metrics. Investors dive in to follow abstract trends, from election outcomes to the latest coin created just minutes after an important event. It’s like a game on social media, similar to what you might find on 4Chan.

Creating communities, strengthening social bonds, and simply having a good time are all part of what makes memecoins so appealing. “Human beings are social creatures, and memes are all about connecting people who share the same sense of humor,” explains Yang.

But beyond just being a source of fun and a potential way to make some money, what are some real use cases for these seemingly useless memecoins?

**Bypassing US Securities Laws**: One of the main use cases for memecoins is that their very uselessness allows them to circumvent US securities laws that brought down the ICO craze. Memecoins simply don’t fall under the categories that such regulations target, making them an alternative for those looking to stay outside the legal radar.

**Speculating on Politics**: In a world where people build connections through technology rather than face-to-face interactions, memecoins offer a way for holders to engage with and capture the political trends of the day. You can find memecoins both in support of and opposition to political figures, reflecting a digital twist on traditional political engagement.

**Charitable Trojan Horses for Doge Rescues**: Memecoins can often serve as a front for more meaningful ventures, such as fundraising for charity or launching new projects. For example, the NEIRO memecoin aims to become a valuable asset while supporting global Shiba Inu dog rescues and wellbeing initiatives. It’s a mix of fun, speculation, and real-world impact.

So, while memecoins might seem frivolous at first glance, they actually serve a variety of purposes beyond just entertainment. From bending regulations to betting on political outcomes and even supporting charitable causes, memecoins show that sometimes what seems silly on the surface can actually have some deeper meanings and real-world implications.