<s>
A	O
meme	B-Protocol
coin	I-Protocol
(	O
also	O
spelled	O
memecoin	B-Protocol
)	O
is	O
a	O
cryptocurrency	O
that	O
originated	O
from	O
an	O
Internet	O
meme	O
or	O
has	O
some	O
other	O
humorous	O
characteristic	O
.	O
</s>
<s>
It	O
may	O
be	O
used	O
in	O
the	O
broadest	O
sense	O
as	O
a	O
critique	O
of	O
the	O
cryptocurrency	O
market	O
in	O
its	O
entirety	O
—	O
those	O
based	O
on	O
particular	O
memes	O
such	O
as	O
"	O
doge	O
coins	O
"	O
,	O
celebrities	O
like	O
Coinye	O
,	O
and	O
pump-and-dump	O
schemes	O
such	O
as	O
BitConnect	B-Protocol
—	O
or	O
it	O
may	O
be	O
used	O
to	O
make	O
cryptocurrency	O
more	O
accessible	O
.	O
</s>
<s>
Supporters	O
,	O
on	O
the	O
other	O
hand	O
,	O
observe	O
that	O
some	O
memecoins	B-Protocol
have	O
acquired	O
social	O
currency	O
and	O
high	O
market	O
capitalizations	O
.	O
</s>
<s>
In	O
late	O
2013	O
,	O
Dogecoin	O
was	O
released	O
after	O
being	O
created	O
as	O
a	O
joke	O
on	O
the	O
Doge	O
meme	O
by	O
software	B-General_Concept
engineers	I-General_Concept
.	O
</s>
<s>
This	O
sparked	O
the	O
creation	O
of	O
several	O
subsequent	O
meme	B-Protocol
coins	I-Protocol
.	O
</s>
<s>
In	O
October	O
2021	O
,	O
there	O
were	O
about	O
124	O
meme	B-Protocol
coins	I-Protocol
circulating	O
in	O
the	O
market	O
.	O
</s>
<s>
In	O
late	O
2021	O
,	O
advertisements	O
promoting	O
the	O
meme	B-Protocol
coin	I-Protocol
Floki	O
Inu	O
in	O
London	O
led	O
to	O
subsequent	O
investigations	O
around	O
promoting	O
the	O
meme	B-Protocol
coin	I-Protocol
,	O
considered	O
to	O
be	O
an	O
unregulated	O
financial	O
product	O
by	O
the	O
ASA	O
(	O
The	O
Advertising	O
Standards	O
Authority	O
)	O
.	O
</s>
<s>
Some	O
countries	O
have	O
taken	O
steps	O
to	O
regulate	O
meme	B-Protocol
coins	I-Protocol
.	O
</s>
<s>
In	O
early	O
2021	O
,	O
Thailand	O
's	O
Securities	O
and	O
Exchange	O
Commission	O
banned	O
meme	B-Protocol
coins	I-Protocol
as	O
part	O
of	O
a	O
crackdown	O
on	O
digital	O
goods	O
with	O
"	O
no	O
clear	O
objective	O
or	O
substance	O
"	O
.	O
</s>
<s>
Meme	B-Protocol
coins	I-Protocol
have	O
surged	O
in	O
popularity	O
since	O
Elon	O
Musk	O
endorsed	O
the	O
use	O
of	O
Dogecoin	O
,	O
one	O
of	O
the	O
first	O
meme	B-Protocol
coins	I-Protocol
.	O
</s>
