How to Create Your Own Meme Coin

Introduction

Meme coins have become a real trend in 2024. It is the most profitable segment of cryptocurrencies according to CoinGecko‘s Q2 2024 report. Meme coins that will be launched in 2024, such as WIF, POPCAT, SUNDOG and many others, will bring their investors and of course the project creators thousands of per cent profit and managed to attract the attention of a wide audience.

If you are thinking about creating your own meme token, this guide will help you through the process of creating your own token. Let’s get started!

What is a Meme Coin?

Meme coins are cryptocurrency tokens based on popular internet memes, cultural trends or famous personalities. The project usually has no fundamental value to the crypto world, but simply generates a large number of memes. Meme tokens are a tool for speculation, for rallying the community around a meme, and ultimately for fun.

Why Create a Meme Coin?

Creating a meme token can serve several purposes: you can create a token just for fun, to attract attention, and of course to make money by raising funds for an ICO and subsequent price increase. 

Unlike coins from other areas of the crypto world, meme coins are subject to greater volatility and can quickly gain popularity and capitalisation through viral marketing and active community support. 

Step-by-Step Guide to Creating a Meme Coin

Anyone can create their own Meme token and start trading with it. It is not that difficult. And now we are going to give you a step-by-step guide to creating and launching your token.

Step 1: Choosing a blockchain

First, you need to understand how popular blockchains work. You can create your own meme coin on Ethereum, Solana, TON or any other popular blockchain. However, in this guide we will look at meme coins created on the ERC-20 standard.

In general, each blockchain has its own set of rules and functions by which tokens work, so you should understand how the Ethereum blockchain works.

Popular blockchains include:

• Ethereum has a widely developed ecosystem but has high transaction fees.

• Solana – Known for its speed and cheap transactions, which makes the platform attractive to many meme projects.
• TON – A platform gaining popularity that also attracts cheap transactions.

Step 2: Writing the Smart Contract

Next, you need to write a smart contract – a program that defines the rules of your token. The smart contract code will specify parameters such as the ticker (short name of your coin), the token issuance, i.e. the total number of coins that will be in circulation, and other important metrics. 

For Ethereum, the code for smart contracts is written in the Solidity programming language. It is the primary programming language for all smart contracts written on Ethereum and BSC. 

You can write the code yourself or outsource smart contract development to a third-party programmer. 

If you choose other blockchains to create meme coins, for many of them there are smart contract creation dApps where you can create a smart contract without writing code and without programming knowledge, by setting the necessary parameters directly on the service’s website. An example of such a service for the Solana blockchain is the Solana Token Creator. However, we will not go into this in detail and will focus on creating our own smart contract.

The complete cycle of creating a smart contract will look like this:

• You choose a development environment; for example, you can choose the Remix platform, where smart contracts are tested and deployed.
• Next, you import off-the-shelf libraries such as OpenZeppelin, which minimize bugs and can provide standard ERC-20 features. 
• The next step is to write the smart contract. You need to set the token name, ticker, issuance, and other parameters in the code.
• Next comes the testing phase. You use a test network such as Ropsten or Goerli to check the smart contract for errors. Hardhat or Remix’s built-in tester can also help quickly identify bugs. 
• After testing comes optimization and auditing; the code is checked for vulnerabilities and optimized to reduce gas costs.
• After that, the smart contract is deployed to the Ethereum core network, and the wallet is connected to Metamask.
• After the deployment, the smart contract is verified at https://etherscan.io to make the code open source and add trust to your project.
• The token is then integrated into the exchanges on which it will be traded. 

Step 3: Tokenomics Development

The next step in launching the token will be tokenomics development. During its development, it will be essential to determine:

• The total coin issuance. Whether the number of tokens will be fixed or you will issue new coins. A fixed supply can create a sense of scarcity and increase the token’s value.
• Allocate how the tokens will be spent: what percentage of the issue will go to the team and community, and how much will be spent on marketing and maintaining liquidity.
• Determine if there will be a mechanism for burning tokens. Burning tokens over time will reduce the total supply of coins and increase the value of the remaining tokens.

Step 4: Deploying the Contract on Ethereum

Once you have written a smart contract, you need to deploy it on the Ethereum blockchain. For deployment, you will need tools such as Remix or Truffle, which are browser-based compilers and IDEs that allow you to interact with the blockchain and create your own smart contracts on Ethereum. 

You will also need a cryptocurrency wallet, such as MetaMask, with some ETH to pay transaction fees.

After writing the smart contract code, you can upload it to the Ethereum network using the services listed above and make your meme token available to all blockchain users.

After deploying the smart contract, we advise you to check its operability and order an audit to rule out possible bugs and vulnerabilities that may have been left in the code.

Step 5: Setting Liquidity on Decentralized Exchanges

But creating a token is not enough. It is important to add liquidity to it so that users can trade your token and exchange it for other cryptocurrencies. Let’s take the decentralized exchange (DEX) Uniswap as an example. On it, you need to create a liquid pool, i.e. add a certain number of your coins that have no value yet and an already traded asset – it can be ETH, stablecoins or other assets. By doing so, you create a trading pair that is available to exchange users. 

After adding liquidity, traders and investors will be able to buy and sell your token. It will then have a market value and be considered officially launched.

You can also choose another exchange for the initial listing of your coin. It all depends on the blockchain you choose, and whether you meet the requirements of certain exchanges to be listed on them. 

Step 6: Listing on exchanges

The next step is listing the coin on centralized or decentralized exchanges. You must prepare project documentation for listing on CEX exchanges, including a well-composed tokenomics, a completed audit, and a detailed project description. Then, you apply to the exchange’s website and wait for its team to review it. If the application is incomplete, you may be asked clarifying questions. After you discuss the listing details, the date of the start of trading, and the commission the exchange will charge, your token will be listed on the appointed day.

Often, many startups make typical mistakes at the listing stage: they submit incorrect or incomplete documents, thus delaying the listing process for many weeks and months. If you want to list your token five times faster than by self-listing, you can contact Listing.Help. We provide comprehensive support before and after the listing process. We help you identify relevant exchanges where you should list your token, build the positioning of your project, and help you create a marketing strategy. We also negotiate directly with exchanges and achieve the best conditions for the placement of your token. 

Marketing Your Meme Coin

Well, here we go. And the next important step in developing your brand is to create a marketing strategy. 

Building a Community

It is important to build a community of active and interested investors and traders who are ready to support your project, make memes about it, organize discussions and, of course, buy the project token. 

Platforms like Twitter, Telegram, or Discord are great for community-building and are the most popular among crypto projects.

Create memorable memes that can go viral or organize competitions among the community to create similar memes. Organize events for your community to stimulate activity and maintain interest in the token. And contests and raffles with token giveaways or other prizes can increase community engagement.

Promoting on Social Media

Active marketing is also important for the development of a meme coin. Use as many channels as possible to communicate with your audience to create a viral marketing effect around the token. Buy advertising from influencers and actively communicate with your community to ensure the project attracts new audiences and retains existing users.

Case Studies: Successful Meme Coins

Consider Shiba Inu, POPCAT, and SUNDOG. They succeeded due to creative marketing, unique ideas, and an engaged community. For example, SHIB used aggressive marketing, POPCAT involved major influencers in advertising, and SUNDOG built an audience among eco-activists through integration with environmental platforms. Thus, marketing and community will be crucial to the project’s success.

Managing Post-Launch Strategy

Maintaining Liquidity

Once your meme token is launched, it is important to monitor and maintain liquidity on the exchange. As popularity grows, you may need to increase the liquidity pool to maintain high liquidity. Such a move will help attract more traders and provide them with smoother price changes during trading.

Continuous Development and Community Engagement

To achieve long-term success, the project needs to be continually developed. Communicate with the community, create new marketing campaigns, add new features and organize events. All these activities will help maintain interest in your token and stimulate further growth of the community. And then there will be another successful meme coin.

Practical Tips for Success

To successfully launch your meme-coin and avoid common mistakes, it is essential to follow several recommendations:

• Pay attention to the security of smart contracts. Use trusted libraries such as OpenZeppelin. Test your smart contract code on test networks, such as Ropsten or Goerli, before deploying it on the leading network. Also, be sure to audit the smart contract code to eliminate the risk of tampering. The best option is to use a trusted auditing company such as Certik or Hacken.
• Research the legal aspects before launching the project. Study the laws related to cryptocurrencies to avoid legal issues. Different countries may have varying requirements. For example, somewhere, you may be required to register a token as a security. In addition to this, make sure that your project is AML and KYC-compliant. This will be particularly important if you intend to list on centralized exchanges (CEX).
• Take enough time for testing. Don’t rush the launch. Instead, run load tests to see if the smart contract can handle transactions under high load. Also, check your token’s interaction with popular wallets and exchanges to avoid integration errors.

Estimated Costs

Let’s calculate how much it will cost you to launch a meme token.

If you create the smart contract yourself, developing it could cost around 50$ to cover the fees. If you bring in a third-party developer, the cost could go up to 2,000$-5,000$, including auditing costs.

Marketing can cost an infinite amount. However, if you take the minimum amounts, you’ll need 1000$-3000$ for advertising on social networks like Twitter and Telegram. Attracting influencers and launching a viral advertising campaign will already require 10000$ and more.

Listing costs will depend on the exchanges on which you will be placed. In rare cases, it will be possible to do it for free, but in most cases, for listing on the CEX exchange, you will need to pay 10000$ or more, depending on the popularity of the exchange.

The total cost will vary depending on the complexity of your project, the scale of your marketing campaign, and the range of the chosen exchange. 

If you’re interested in creating your meme coin, Listing Help team is here to assist you every step of the way. We offer support with tokenomics, smart contract development, exchange listings, and marketing promotion. Sign up for a free initial consultation, and our team will happily answer all your questions. Have a great listing!

For more insights and updates on the crypto world, don’t forget to check out our blog at Listing.Help