How to Doge the system

Meme coins are a type of cryptocurrency that started as a joke. The segment is now worth billions. You can make a meme coin too, with just a few clicks. What's going on? Take a look

- Sukanya Datta

They're a bit like the novelty T-shirts one buys on impulse; the kind that say "Here for #RishGotHerMan" or "Family Trip Survivor".

Meme coins — a type of cryptocurrency — are easy to make, easy to buy. They cost between a fraction of a paise and Rs 15 per unit. They are churned out, sometimes as an in-joke and sometimes by celebrities, to build on a sense of fandom or community.

And yet... Presidents are now launching them; billions are being made.

In January, US President Donald Trump launched $Trump, so fans could show their support, "celebrate our win and have fun". People have collectively paid over $350 million for these tokens, since mid-January.

US First Lady Melania Trump launched Melania as a "digital collectible intended to function as an expression of support". Influencer and one-time Olympic gold-winning decathlete Caitlyn Jenner has one (JENNER). So do singer Jason Derulo ($JASON), rapper Cardi B (WAP) and rapper Iggy Azalea (MOTHER).

The tokens, as Trump's website states, are not "the subject of, an investment opportunity, investment contract, or security of any type".