The most common argument against a memecoin is that it is just a joke, and there is no serious plan behind it.
Dogecoin came as a joke, and people started putting money into it regardless. And although at the end of 2020 Doge seemed to gain traction, the cryptocurrency community still dismissed it as being just a meme.
Yet, on May 8, 2021, Doge reached an all-time high of $0.7376. However, the terrible tokenomics that come from being a cryptocurrency project without a real plan behind it have put limitations on the price action.
But a memecoin can be as much of a meme as Dogecoin but also have a plan behind it and good tokenomics. And that’s what Garlicoin proves.
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The memes of Garlicoin
A few years ago, garlic bread was really popular, and people worldwide were posting memes related to garlic.
And as the cryptocurrency market was drawing attention, with Bitcoin leading the way, there came the idea of a garlic cryptocurrency.
In December 2017, a Reddit user known as DigitalizedOrange published a post titled: “If this post gets 30,000 upvotes, I will make a garlic bread cryptocurrency called Garlicoin,”
The post had gained traction, and the OP managed to find support and created Garlicoin, the garlic bread cryptocurrency.
By January 2018, the project team had published the Garlicoin mainnet with a genesis block that contains this text encoded in the pszTimestamp:
“If this post gets 30000 upvotes I will make a garlic bread cryptocurrency called garlicoin”
Soon after that, the cryptocurrency winter came. However, the cryptocurrency did not fade away into nothingness, and the community stuck by it.
The project team has been developing Garlicoin further since then, and the community has been expanding now, reaching over 100,000 members on Reddit.
Here’s how Garlicoin works
This cryptocurrency held together over the crypto winter because the Garlicoin community did not abandon the coin. Still, there is also the fact that the…