The cryptocurrency market has been growing in popularity, and a lot of credit goes to the meme coins that brought global attention to cryptocurrencies in the last few years.
History of meme coins
Meme coins are a cryptocurrency developed based mainly on jokes or memes. The first meme coin, Dogecoin, was created by Billy Markus and Jackson Palmer as a “joke”, making fun of the wild speculation in cryptocurrencies in 2013. In 2020, Shiba Inu was launched by a group of anonymous people known as “Ryoshi”, dubbing itself the “Dogecoin killer”.
Having the same purpose and mascot as Dogecoin, it has attracted many investors and traders alike. Vitalik Buterin even donated over 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund:
Cryptocurrencies can make a huge impact, but they seem so complex…although what if I told you, that you can create the next Dogecoin or Shiba Inu without any technical expertise?
Want to know more about Shiba history? Discover this interesting CoinTelegram article: What is Shiba Inu coin: Purpose, ecosystem and history of SHIB cryptocurrency
In this article, I will show you how to create a token like Shiba Inu without any coding experience, using no-code tools that simplify the process and make it accessible to everyone. This guide will provide you with the essential steps to create your own token and potentially launch it to the world.
But first, let’s start with the potential benefits and risks of crypto meme coins.
Benefits of meme coins
High Potential for Returns
Due to extreme volatility, meme coins have a potential to bring huge returns. If you invest in a meme coin early on and it gains popularity, the value of your investment can increase significantly. Meme coins have seen 10x, 30x, and even 100x, but it’s important to remember that huge pumps are always followed by huge dumps, so even if you make profit from trading a meme coin, it is crucial to sell it before it takes a nosedive.
Strong Community
Like any token, meme coins often have a strong community of supporters, who believe in the project and can help drive its growth. Meme coin communities often consist of “degens” and meme lovers. A lot of people also come from hype, but the ones who are truly interested in the project keep supporting even after the hype goes.
Accessible for All
Meme coins are usually very easy to purchase, which makes them accessible for people who are just getting started with investing in digital assets.
They’re Fun!
Meme coins are designed to be fun and engaging. The dog “Kabosu” was a popular meme before Dogecoin or Shiba Inu, so when the authors used it as the mascot for these meme coins, a lot of people showed interest. Tactics like that can make investing more enjoyable and less intimidating for new investors. It can also drive hype and engagement for your project.
Potential risks of meme coins
High Volatility
As mentioned earlier, meme coins are often extremely volatile, meaning that their value can fluctuate rapidly and significantly. This can lead to large gains, but the risk of significant losses is also there.
Lack of Regulation
Meme coins aren’t as regulated as other cryptocurrencies, which means that there is a higher risk of fraud, scams, and other illegal activities. It’s important to thoroughly research any meme coin before investing in it, as there have been cases where fraudulent coins were created.
Lack of Fundamentals
Many meme coins don’t have a clear use case or a strong underlying technology, making them more susceptible to hype and speculation. This makes them less predictable and more volatile.
Now that you’re aware of the pros and cons and ready to make your own token – let’s find out how to do it!
How to start?
To launch your own token, you will need to have a MetaMask wallet. Once you have that, you will need to pick a platform that you’d like to use for token creation. There is a variety of no-code platforms available, but I will highlight 3 that in my opinion are the best. Let’s dive in!
Introducing Side.xyz, the no-code platform
Website: Side.xyz
Number of projects you can fork: +50
Side is a cross-chain platform that lets users create and manage tokens, NFTs, and web3 ecosystems. With the help of the platform’s tools and features, users can create tokens based on template like the Shiba Inu template. Without any prior coding experience, anyone and businesses can fork tokens using this platform. It also enables connectivity to several blockchain networks and a user interface that can be customized. By using Side’s web3 page builder, the user can create his own page for his project and add a lot of features in it: swap, staking, DAO, links, texte, images… Side is intuitive, robust and complete. It is created by a team of devoted engineers, developers and marketers.
Guide for creating a token
Here’s a general step-by-step guide for forking the Shiba Inu using a no-code platform like Side.xyz:
- Go onto the website and connect your wallet
- Pick an option to create an ERC20 token
- Pick a network e.g. Ethereum, Binance Smart Chain, Polygon etc.
- Set up the token metadata such as the token name, symbol, and description. An example of each would be Shiba Inu; SHIB; “Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin…”
- Create and upload the logo for your Shiba Fork.
- If you chose to put some trading fees on your token, add the wallet address where you want to receive the fees.
- Set up the initial supply.
- Pick the additional features for your token e.g. mint/burn function.
- Lastly, click the “Deploy” button and approve the transaction in your wallet.
If you want to go further, discover our complete guide: Creating a Token for your business: A step-by-step guide
Side.xyz is a game-changer for web3 entrepreneurs. It enables users to develop and manage meta-ecosystems, NFTs, and tokens across multiple blockchain networks. With Side, users can easily build, launch, or improve any web3 project on the blockchain of their choice. The platform provides a complete ecosystem that allows users to create customized cryptocurrencies by cloning successful ones and configuring a Discord channel associated with their project. Users can also set up a DAO governance and manage utilities associated with their tokens, all without requiring any prior coding experience.
The great thing about Side.xyz is that you can copy very popular cryptos and focus on distribution & your community. If there is one important point in Web3 entrepreneurship, it is that the idea or innovativeness of the crypto is not always at the forefront. Sometimes it’s not enough to be the first with a crypto idea but it is enough to have a good community and distribution. Working with no-code tools can help you focus on the essentials.
Your next steps could be listing your token on an exchange or doing an airdrop, – all depending on your strategy. Airdrop is an easier process and all of the afore mentioned platforms have this feature, however, to list a token, you will have to submit an application on the exchange website.
Final words
Meme coins have gained significant popularity in recent years. The rise of meme coins has opened up the crypto space to a wider audience and has made investing in digital assets more accessible and enjoyable for many.
The high volatility and lack of regulation make them a risky investment option, but the high potential for returns and the fun element of them makes it appealing to many investors.
With the advent of no-code tools, anyone can create the next Dogecoin or Shiba Inu and make an impact on the world! In this article, I provided you with the guide for creating a token using a tool like Side.xyz
Going forward, it is likely that more meme coins will emerge and some of them will definitely take off…
Will it be yours?
