Why are some memecoins now referred to as altcoins ?

[Aanuoluwatofunmi]

Aside bitcoin, every other coin or token falls under altcoins in cryptocurrency, memecoin are known for their own unique characteristics in altcoins, because they are ore volatile, then we have other altcoins and tokens, but i don't know if there are other context at which others still refers to the memecoins being categorized aside from the initial way we have already know.

[Ambatman]

Well they are altcoins and Memecoins is a subset of Altcoins.
Like has been known any Coin that isn't Bitcoin is called an Altcoin or by some people shitcoins (though this is very subjective especially in the case of Monero).


No matter how its going to be branded Doge and Shiba started as just Memecoins
Except they plan on creating new use case so they can leave that banner.

[iBaba]

Aside bitcoin, every other coin or token falls under altcoins in cryptocurrency, memecoin are known for their own unique characteristics in altcoins, because they are ore volatile, then we have other altcoins and tokens, but i don't know if there are other context at which others still refers to the memecoins being categorized aside from the initial way we have already know.

When you ask questions like how many altcoins are there, you will get answers such as tens or thousands of altcoins out there or more. But according to Coingecko, there's at least over 16,500 altcoins out there sometimes around 2024. But to further categorize altcoins into forms based on their similarities in market value or volatility, is to also mention stablecoins, which are altcoins that are more stable than even the bitcoin because their assets are mostly tied to another stable asset class such as the fiat currency or even gemstones like gold and an example of such is the USDT Tether which is tied to the USD currency in the fiat world.

Another category of altcoins can be referred to as the DeFi altcoins and they are native to the decentralized and automated platforms which operate through the use of smart contracts. A popular element of these DeFi altcoins is because individuals can maintain control over their DeFi coins and example of such categories of coins are the Unswap & Chainlink.

Another category of altcoins can be the Proof of Work kind of coins like the mining-based altcoins such as DOGE. DOGE is a typical example of a mining-based altcoin because it used PoW mining to generate new coins and verify new transactions. With this, a miner gets to compete with another by solving complex mathematical equations in order to verify altcoin transactions and as a result gets rewarded.

There are several more altcoins categories such as the Proof of Stake altcoins, Governance altcoins and the Memecoins etcetera. The Memecoins are also a category of altcoins that gained their popularity through their association with internet memes or other popular internet trends. Such Memecoin projects are driven by the popularity of an internet trend and it's value could rise and fall as a result of the trending internet hype. Once such hypes die down, it greatly affects the value and prices of such coins. Example of  popular Memecoins include the dogecoin, Trumpcoin, Pepe, BONK and Shiba Inu, among others.

I will end my submission with a simple definition of altcoins — they are cryptocurrencies that are alternative of bitcoin. Which means to say that whatever cryptocurrency that is not a bitcoin, is absolutely an altcoin or in full, an alternative coin, ether a Memecoin or a Stablecoin, etcetera.

[TomPluz]

There is Bitcoin and all others are categorized as altcoins. That is the accepted categorization, generally speaking, so in that sense all memecoins are considered also as altcoins. Now, some may think that most memecoins can be liken as shitcoins so they don't deserve to be called as altcoins, in the first place. Well, we should respect that opinion too because that assumption may also have some bearing. As to Doge and Shibu getting to be considered as legitimate altcoins maybe because both of them earned that title already having shown to be solid, sturdy and valuable memecoins in the market. And I am sure all supporters of these two memecoins would agree with me on this.