A meme coin (also spelled memecoin) is a cryptocurrency that originated from an Internet meme or has some other humorous characteristic.[1] It may be used in the broadest sense as a critique of the cryptocurrency market in its entirety, those based on particular memes, such as "dog coins", celebrities like Coinye, and pump-and-dump schemes such as BitConnect. The term is often dismissive, comparing the value or performances of those cryptocurrencies to that of mainstream ones. Supporters, on the other hand, observe that some meme coins have reached high market capitalizations.[2]