The New Hunter Biden Meme Coin Is Down 98% Since Launch. Here's What Crypto Investors Need to Know.

Meme coins have long been a staple of the crypto community. These crypto assets typically have no obvious utility. Their value stems from social trends and the whims of traders.

The first meme coin -- arguably the most successful meme coin of all time -- was Dogecoin (CRYPTO:DOGE). The token was launched in 2013 mostly as a joke.

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"I don't think we're changing the world or anything. We're just trying to have fun, and the community seems to have fun with it," the project's founder said in 2014. At that time, Dogecoin's price hovered around $0.0002 per token.

By 2021, however, the price of DOGE surged to $0.64 -- a gain of more than 300,000%. "I never would have imagined Dogecoin would become what it is today," Dogecoin's founder said that year. "It's a crazy ride, but it's also a reminder that anything can happen."

The success of Dogecoin spawned many copycats. At the start of 2025, for example, Trump Coin (CRYPTO:TRUMP) launched, backed by Donald Trump himself. The token quickly hit a $9 billion market cap, but its valuation has since fallen to around $600 million. The President reportedly earned $636 million from the meme coin's organizers.