Topic: Are memecoins really important for the crypto market? - page 3. (Read 1759 times)
Not really, they're called meme coins for a reason. They don't have a utility outside being just a token and their value is only decided by the people that believe that they've got a value, it just so happens that a lot of them see it as a way to troll other investors so they flock on that one specific coin and so they end up artificially making the price grow, it's probably the reason why DOGE coin is so valuable, because people are so fond of trolling and at the same time believing that it's going to go up in price that it did eventually and it's constantly growing even more so. Memecoins are just like any altcoins out there, it's risky and even though the potential to hit it big is so high, you can never be too careful because there's thousands of them that aren't going anywhere and those that make someone a millionaire is probably only one of those coins so when you're risking it, do be careful when you do it.
Irrespective of the fact that we have more of shitcoins coming from memecoins, all coins category of coins have their lesson to teach. To my best of knowledge, for meme coins it teaches a discipline to make concrete research and get to the market early. It also teaches one to focus on the market due to its high volatility. Many investors venture into meme coins because of its high volatility but in as much as that could make you rich in a split seconds( sarcasm) it can also cause you losses in that same rapid dump.
I personally believe that with meme coin the only thing you should research is the smart contract code whether it have malicious or a back door where the dev can rugpull you and thats it, most of meme coin that become big usually just suddenly sky rocketing in term of price disregarding any economic principle they just suddenly got support of many people and suddenly become big and thats it as much as ridiculous it is but usually with meme coin you don't do research, you just find the hottest meme coin in the market that are still low in market cap and then you just try to gamble your money investing in that shit coin hoping that it'd become big.but we all know the chance of that from happening is kinda low so you should ready big shelves of dollars just in case if you're so eager to invest.
other than that, buying when the market cap already reaching about $100 million market cap usually the coin might go up until it got listed in best reputable exchange then it slowly going down, then again the odd of winning with shit coin investment is ultra slim.
Many individuals are having high hopes for memecoins as the stories of some random individual making life changing gains are every where, some memecoin has made many people millionaires but it has also made many Investors to lose money but this isn't the fault of memecoin are memecoin are a joke but weren't taking them to be a joke but using them as real investments therefore many individuals are putting too much money that they can't afford to lose into Memecoins.
Alot of scammers are also taking advantage of the hype on memecoin to launch memecoins projects that they'll only get pumped and dumped on new investors. Memecoin are being in a part of the market and they'll be around for sometime therefore we should accept them but know how to avoid them and not get tempted to invest into every memecoin that we see as many of them aren't worth it.
Memecoins are not to blame, the fault lies with the scammers who created them. What's even more scary is that they are everywhere and the cost to create 1 trillion tokens for a new memecoin project is only about a few USD. I don't think we should blame the victims, who invested in memecoins and lost money because of them, but I think investors themselves also need to be more cautious and control their risks better. All-in on a memecoin is not a professional investor's decision.Alot of scammers are also taking advantage of the hype on memecoin to launch memecoins projects that they'll only get pumped and dumped on new investors. Memecoin are being in a part of the market and they'll be around for sometime therefore we should accept them but know how to avoid them and not get tempted to invest into every memecoin that we see as many of them aren't worth it.
Memecoins are doing their job well, and like all good things, they will be abused by bad actors. We can either ignore them, or participate with high vigilance and the capital that we are willing to lose!
Despite their are so many memecoin in the market that are scam I won't say they are useless because their are some memecoin that can give profit but one needs to be careful when it has anything to do with memecoin coin. Memecoin are very risky and I think it shouldn't be what people needs to take very serious to invest. I mean memecoin shouldn't not be people need to invest all they have, but with the amount they can afford to lose.
Actually that's true because meme coins were created just for fun, meaning investing in meme coins is just for fun. but what happens is the opposite because many people actually have too big hopes for meme coins, and their hope is that they want to make big profits in a short time. This hope also makes them forget about the high risks in this investment.
Actually that's true because meme coins were created just for fun, meaning investing in meme coins is just for fun. but what happens is the opposite because many people actually have too big hopes for meme coins, and their hope is that they want to make big profits in a short time. This hope also makes them forget about the high risks in this investment.
Many individuals are having high hopes for memecoins as the stories of some random individual making life changing gains are every where, some memecoin has made many people millionaires but it has also made many Investors to lose money but this isn't the fault of memecoin are memecoin are a joke but weren't taking them to be a joke but using them as real investments therefore many individuals are putting too much money that they can't afford to lose into Memecoins.
Alot of scammers are also taking advantage of the hype on memecoin to launch memecoins projects that they'll only get pumped and dumped on new investors. Memecoin are being in a part of the market and they'll be around for sometime therefore we should accept them but know how to avoid them and not get tempted to invest into every memecoin that we see as many of them aren't worth it.
memecoins are for fun. it's supposed to make regular people come into crypto by having meme fun. of course they are scams but it helps spread the word. but its how important its role is in crypto market.
some lose their money and some win big which is kind of cruel when the bear market makes them cry.
anyway, this is how it would look like when you lose all your money on memecoins and have to get a job:
https://twitter.com/LilMoonLambo/status/1770559165548650530
All tokens, including BTC, create winners and losers, or profits and losses. We should not blame memecoins just because they cause losses for someone in this market.some lose their money and some win big which is kind of cruel when the bear market makes them cry.
anyway, this is how it would look like when you lose all your money on memecoins and have to get a job:
https://twitter.com/LilMoonLambo/status/1770559165548650530
We invest in memecoins with the purpose of making a profit, but it would be naive to believe that we will never face losses. Memecoins are created for fun, not with the mission of making all investors rich. When we understand this, I believe that investors will manage their capital more effectively, not all-in on memecoins, or at least will be able to accept losses from memecoins.
For me, memecoins have done a great job of creating excitement in the market and attracting new investors to crypto.
And this same reasons you pointed out i exactly why a lit of them end up as failures, they are just fun fare tokens created to do what full the space, don't get me wrong I'm not against them but I hate when things get abused which in the crypto space we see a lot of those, scammers easily use memeckims to steal funds cause they dint need any complex whitepaper and their audience are those looking for huge gains which are those that
invest in meme coins .
The only reason why memecoin are gaining ground is cause many investors haven't gotten wisdom that bitcoin is better than all the shotcoins put together and its better to own bitcoin than invest or gamble around with memecoins.
invest in meme coins .
The only reason why memecoin are gaining ground is cause many investors haven't gotten wisdom that bitcoin is better than all the shotcoins put together and its better to own bitcoin than invest or gamble around with memecoins.
Absolutely correct mate, the reasons we have more of scammers in memecoin is because we have more of Investors looking for a way to make huge profits within a short period of time. Most of these investors lack patience and have greed that why they end up in shitcoins. And newbies also make the mistake of entering into a project because of hypes from social Media and crypto influencers without them looking deep into the coin. There is no doubt that Bitcoin is the best coin in the network, it's reputable, and trustworthy. If you have patience enough, you'll benefit from Bitcoin investment.
memecoins are for fun. it's supposed to make regular people come into crypto by having meme fun. of course they are scams but it helps spread the word. but its how important its role is in crypto market.
some lose their money and some win big which is kind of cruel when the bear market makes them cry.
anyway, this is how it would look like when you lose all your money on memecoins and have to get a job:
https://twitter.com/LilMoonLambo/status/1770559165548650530
And this same reasons you pointed out i exactly why a lit of them end up as failures, they are just fun fare tokens created to do what full the space, don't get me wrong I'm not against them but I hate when things get abused which in the crypto space we see a lot of those, scammers easily use memeckims to steal funds cause they dint need any complex whitepaper and their audience are those looking for huge gains which are those that
invest in meme coins .
The only reason why memecoin are gaining ground is cause many investors haven't gotten wisdom that bitcoin is better than all the shotcoins put together and its better to own bitcoin than invest or gamble around with memecoins.
invest in meme coins .
The only reason why memecoin are gaining ground is cause many investors haven't gotten wisdom that bitcoin is better than all the shotcoins put together and its better to own bitcoin than invest or gamble around with memecoins.
Absolutely correct mate, the reasons we have more of scammers in memecoin is because we have more of Investors looking for a way to make huge profits within a short period of time. Most of these investors lack patience and have greed that why they end up in shitcoins. And newbies also make the mistake of entering into a project because of hypes from social Media and crypto influencers without them looking deep into the coin. There is no doubt that Bitcoin is the best coin in the network, it's reputable, and trustworthy. If you have patience enough, you'll benefit from Bitcoin investment.
Despite their are so many memecoin in the market that are scam I won't say they are useless because their are some memecoin that can give profit but one needs to be careful when it has anything to do with memecoin coin. Memecoin are very risky and I think it shouldn't be what people needs to take very serious to invest. I mean memecoin shouldn't not be people need to invest all they have, but with the amount they can afford to lose.
Actually that's true because meme coins were created just for fun, meaning investing in meme coins is just for fun. but what happens is the opposite because many people actually have too big hopes for meme coins, and their hope is that they want to make big profits in a short time. This hope also makes them forget about the high risks in this investment. 
Irrespective of the fact that we have more of shitcoins coming from memecoins, all coins category of coins have their lesson to teach. To my best of knowledge, for meme coins it teaches a discipline to make concrete research and get to the market early. It also teaches one to focus on the market due to its high volatility. Many investors venture into meme coins because of its high volatility but in as much as that could make you rich in a split seconds( sarcasm) it can also cause you losses in that same rapid dump.
Experience and lessons are always available everywhere for those who really want to improve their individual understanding of the crypto market. Memecoins are a bit more special because they are cheap, investors can easily own millions of tokens, their purpose is just for fun and hype, so most of them don't need to have a good story, a good solution or good tokenomics, and in fact investors don't care much when buying memecoins. This has made memecoins popular and famous, creating a lot of profits and losses. But the losers had to pay for an unhappy lesson.Memecoins are gradually becoming a concern of many ecosystems, they will soon be carefully evaluated to help the investment community avoid worthless rug-pull or scam projects. I hope that in the future memecoins will not be associated with the negative things in this market.
And this same reasons you pointed out i exactly why a lit of them end up as failures, they are just fun fare tokens created to do what full the space, don't get me wrong I'm not against them but I hate when things get abused which in the crypto space we see a lot of those, scammers easily use memeckims to steal funds cause they dint need any complex whitepaper and their audience are those looking for huge gains which are those that mostly invest in meme coins .
The only reason why memecoin are gaining ground is cause many investors haven't gotten wisdom that bitcoin is better than all the shotcoins put together and its better to own bitcoin than invest or gamble around with memecoins.
Irrespective of the fact that we have more of shitcoins coming from memecoins, all coins category of coins have their lesson to teach. To my best of knowledge, for meme coins it teaches a discipline to make concrete research and get to the market early. It also teaches one to focus on the market due to its high volatility. Many investors venture into meme coins because of its high volatility but in as much as that could make you rich in a split seconds( sarcasm) it can also cause you losses in that same rapid dump.
Experience and lessons are always available everywhere for those who really want to improve their individual understanding of the crypto market. Memecoins are a bit more special because they are cheap, investors can easily own millions of tokens, their purpose is just for fun and hype, so most of them don't need to have a good story, a good solution or good tokenomics, and in fact investors don't care much when buying memecoins. This has made memecoins popular and famous, creating a lot of profits and losses. But the losers had to pay for an unhappy lesson.Memecoins are gradually becoming a concern of many ecosystems, they will soon be carefully evaluated to help the investment community avoid worthless rug-pull or scam projects. I hope that in the future memecoins will not be associated with the negative things in this market.
Irrespective of the fact that we have more of shitcoins coming from memecoins, all coins category of coins have their lesson to teach. To my best of knowledge, for meme coins it teaches a discipline to make concrete research and get to the market early. It also teaches one to focus on the market due to its high volatility. Many investors venture into meme coins because of its high volatility but in as much as that could make you rich in a split seconds( sarcasm) it can also cause you losses in that same rapid dump.
Despite their are so many memecoin in the market that are scam I won't say they are useless because their are some memecoin that can give profit but one needs to be careful when it has anything to do with memecoin coin. Memecoin are very risky and I think it shouldn't be what people needs to take very serious to invest. I mean memecoin shouldn't not be people need to invest all they have, but with the amount they can afford to lose.
Well I don't know if I will support memecoin or not, reason been that their are a lot of people who invested heavily on most of this memecoin hoping to get profited from the investment they made, but they end up regretting, reason is because it didn't work out the Way they expected.we need to be extremely careful when investing on memecoin because this memecoin is unpredictable sometimes I know a lot of people benefited from investing on this memecoin, but that doesn't give any guarantee.however i will advice when making investment look for a profiting coin to invest so as to avoid losing of money.
I do support meme coins and I think meme plays an important role in the crypto world.
Some of the top meme coins I have purchased or I will purchase:
(please let me know if you other thoughts)
ConstitutionDAO (PEOPLE): A DAO initiative that raised over $42 million to buy a 1787 U.S. Constitution copy, demonstrating DAOs' potential despite losing the bid.[/li][/list]
-cut-
I think PEOPLE is the token of a leading DAO project in the market, where holders can vote on proposals within the network. I think it is a serious experiment in DAO in the crypto market for other projects to refer to and learn from.Some of the top meme coins I have purchased or I will purchase:
(please let me know if you other thoughts)
ConstitutionDAO (PEOPLE): A DAO initiative that raised over $42 million to buy a 1787 U.S. Constitution copy, demonstrating DAOs' potential despite losing the bid.[/li][/list]
-cut-
SHIB is also moving in its own direction towards DeFi and Ethereum Layer-2, perhaps we will soon mention SHIB as a potential project related to technology rather than just a memecoin.
But does it matter if your coins is still in the top coins on coinmarketcap, what matters is whether you made profits from your investment or not therefore if you can make profits from memecoins and change your life story as some individuals are doing, why not follow them and try your luck but don't invest more than you can afford to lose as memecoins investment are more as gambling than investing as you don't know what the outcome will be and you'll most likely lose your money.
Most Memecoin projects are pump and dump scans this is the reason you're more likely to lose your money when investing into them therefore if you don't have the ability to let go of your loses don't chase after memecoins and invest into fundamental altcoins as Ethereum that won't disappear with your money but will be active in the market in all conditions developing their Blockchain to make it more better..
The goal of investors for each token is to generate profit, not just memecoins. I also think that DOGE has affirmed its value in this market when it is constantly in the top 10 and receives investment cash flow.Most Memecoin projects are pump and dump scans this is the reason you're more likely to lose your money when investing into them therefore if you don't have the ability to let go of your loses don't chase after memecoins and invest into fundamental altcoins as Ethereum that won't disappear with your money but will be active in the market in all conditions developing their Blockchain to make it more better..
Even the Dogecoin chain can completely carry value like the way Bitcoin is being used because their technology is quite similar. Litecoin has failed and been forgotten by the community, but Dogecoin still has a very large community. DOGE can completely be the currency of the internet with a cheaper price and lower transaction costs than BTC.
It doesn't matter what good, serious, and promising projects they all were. After 10 years there are only those that have the support of a community, Bitcoin, XRP, Dogecoin, and Litecoin.
But does it matter if your coins is still in the top coins on coinmarketcap, what matters is whether you made profits from your investment or not therefore if you can make profits from memecoins and change your life story as some individuals are doing, why not follow them and try your luck but don't invest more than you can afford to lose as memecoins investment are more as gambling than investing as you don't know what the outcome will be and you'll most likely lose your money.
Most Memecoin projects are pump and dump scans this is the reason you're more likely to lose your money when investing into them therefore if you don't have the ability to let go of your loses don't chase after memecoins and invest into fundamental altcoins as Ethereum that won't disappear with your money but will be active in the market in all conditions developing their Blockchain to make it more better..
I do support meme coins and I think meme plays an important role in the crypto world.
Some of the top meme coins I have purchased or I will purchase:
(please let me know if you other thoughts)
Some of the top meme coins I have purchased or I will purchase:
(please let me know if you other thoughts)
- ConstitutionDAO (PEOPLE): A DAO initiative that raised over $42 million to buy a 1787 U.S. Constitution copy, demonstrating DAOs' potential despite losing the bid.
- Shiba Inu ($SHIB): Known as the 'Doge killer,' Shiba Inu ranks 15th among cryptocurrencies, with its Shibarium network enhancing transaction speed and cost.
- Pepe Meme Coin ($PEPE): A token inspired by Pepe the Frog, popular for its vibrant community and presence in social media trends.
- Scotty the AI ($SCOTTY): An AI-enhanced meme coin focusing on crypto security and fraud detection.
- Dogecoin (DOGE): The iconic meme coin with substantial community support and widespread acceptance.
- Smog ($SMOG): A Solana-based token aiming to differentiate through significant airdrop strategies.
- Sponge V2 ($SPONGEV2): Combines high staking yields with a play-to-earn racing game for its holders.
- Frog Wif Hat ($FWIF): A new meme coin targeting investors with its whimsical theme and potential returns.
- Meme Kombat ($MK): Features a battle arena for iconic memes, offering entertainment and investment opportunities.
- Poodl Inu ($POODL): A dog-themed meme coin with high staking APY, targeting investors in the vibrant meme coin landscape.
- ApeCoin ($APE): Offers governance features and is associated with the prestigious Bored Ape Yacht Club NFT collection, marking a shift towards utility in meme coins.
I don't know what should i answer! if i should support memecoin or not. Cause it has negative and positive both sides. Negative side is, people have lost their money for memecoin hype or for sake of become rich. Memecoin scammers make many people helpless and these innocent people have negative thoughts about crypto market. But the positive side is memecoin makes many people Millionaire as well rich enough. Besides memecoins can make themselves pumped in bear market that attract people to Crypto market. Yeah I already invested in memecoins. my feelings was neutral. Cause profit and poss are kind of same
In reality, everything has both positive and negative effects on us. Every token, including BTC, creates losses and profits, it all depends on the experience and decisions of the investor. Memecoins are riskier than other tokens, and most of them have become worthless shitcoins.We can focus on top memecoins like DOGE, SHIB, PEPE to see more clearly the positive effects: crypto is promoted and has more potential investors because their prices are very cheap and people can own a whole token instead of 0.001 BTC. Avalanche Foundation has also invested in memecoins to support the development of the ecosystem, I think memecoins have the right to be treated equally with other tokens, especially when they also bring positive values to the development of the crypto market.
Despite their are so many memecoin in the market that are scam I won't say they are useless because their are some memecoin that can give profit but one needs to be careful when it has anything to do with memecoin coin. Memecoin are very risky and I think it shouldn't be what people needs to take very serious to invest. I mean memecoin shouldn't not be people need to invest all they have, but with the amount they can afford to lose.
The crypto market is experiencing a resurgence, with Bitcoin reaching 49k USD and numerous altcoins breaking free from the crypto winter's grip. Memecoins, too, have joined the recovery trend, with many new ones emerging. The memecoin craze shows no signs of slowing down, fueled by the promise of life-changing opportunities. Stories of investors striking it rich with DOGE[1], SHIB[2], and PEPE[3] abound, prompting me to delve into the world of memes and memecoins.
"A meme is a piece of content (an image, video, or text) that is humorous in nature, spreads quickly across the internet, and can be remixed and transformed over time. In a more general context, it’s an idea that spreads quickly from person to person within a culture[4]."
"Meme coins are a cryptocurrency genre loosely defined as having an exuberant online community supporting the currency's growth[5]."
In essence, memecoins are the crypto equivalent of memes, designed to inject humor and excitement into the crypto landscape. But unlike other asset classes – forex, stocks, bonds, and commodities – memecoins exist exclusively in the crypto realm.
This unique distinction reflects the freshness and optimism of the crypto market. Participants in this space are primarily young individuals who embrace innovation and financial exploration rather than sticking to traditional assets like gold, oil, and foreign currencies. Their optimism translates into humor, giving rise to the likes of Dogecoin and ShibaInu. The meme wave is unstoppable, fueled by the boundless creativity of human humor.
I think, humor also plays a crucial role in mitigating psychological stress in the crypto market's inherent volatility. When prices experience sharp swings, investors often express their emotions through memes, poking fun at themselves and others. This self-deprecating humor helps lighten the mood and diffuse tension. Memes, in turn, give birth to new memes, and from these, new memecoins emerge.
But memecoins aren't merely vehicles for humor or lottery tickets. They also hold significant value in the broader crypto ecosystem:
The Avalanche Foundation's recent decision to invest in memecoins further underscores their growing importance[6], even among those who dismiss them as mere "trash" in the market.
I love dogs and I bought DOGE in 2018 at 1 DOGE = 0.0025 USD but sold them at the beginning of 2021 when 1 DOGE = 0.1 USD. It's a pity because I couldn't hold until 1 DOGE = 0.7 to get x280 profit. Maybe I'm not destined for DOGE and memecoins
I want to hear your opinion about memecoin in the crypto market:
References:
[1] Truck Driver That Made $3 Million from Dogecoin (DOGE) is Now Selling His Bags to Invest in This New Memecoin
[2] From $1,000 to $1 Million, How Shiba Inu Made People Millionaires
[3] Becoming Millionaires in 2 Weeks: How 3 Addresses Got Rich with PEPE
[4] Buffer: Meme
[5] Investopedia: Meme Coin Explained
[6] Avalanche Foundation to Purchase Meme Coins as Part of Culture Drive
"A meme is a piece of content (an image, video, or text) that is humorous in nature, spreads quickly across the internet, and can be remixed and transformed over time. In a more general context, it’s an idea that spreads quickly from person to person within a culture[4]."
"Meme coins are a cryptocurrency genre loosely defined as having an exuberant online community supporting the currency's growth[5]."
In essence, memecoins are the crypto equivalent of memes, designed to inject humor and excitement into the crypto landscape. But unlike other asset classes – forex, stocks, bonds, and commodities – memecoins exist exclusively in the crypto realm.
This unique distinction reflects the freshness and optimism of the crypto market. Participants in this space are primarily young individuals who embrace innovation and financial exploration rather than sticking to traditional assets like gold, oil, and foreign currencies. Their optimism translates into humor, giving rise to the likes of Dogecoin and ShibaInu. The meme wave is unstoppable, fueled by the boundless creativity of human humor.
I think, humor also plays a crucial role in mitigating psychological stress in the crypto market's inherent volatility. When prices experience sharp swings, investors often express their emotions through memes, poking fun at themselves and others. This self-deprecating humor helps lighten the mood and diffuse tension. Memes, in turn, give birth to new memes, and from these, new memecoins emerge.
But memecoins aren't merely vehicles for humor or lottery tickets. They also hold significant value in the broader crypto ecosystem:
- Attracting attention: Memecoins' inherent intrigue captivates the community, bringing crypto closer to potential investors.
- Accessibility: Often priced very low, memecoins are easily accessible to newcomers, lowering the barrier to entry.
- Price appeal: Their volatile nature can lead to meteoric price increases, fueling investor optimism, breaking down fear, and generating FOMO.
- Burn mechanism: Memecoins with high transaction volumes burn significant transaction fees, reducing the supply of native tokens and supporting their price.
The Avalanche Foundation's recent decision to invest in memecoins further underscores their growing importance[6], even among those who dismiss them as mere "trash" in the market.
I love dogs and I bought DOGE in 2018 at 1 DOGE = 0.0025 USD but sold them at the beginning of 2021 when 1 DOGE = 0.1 USD. It's a pity because I couldn't hold until 1 DOGE = 0.7 to get x280 profit. Maybe I'm not destined for DOGE and memecoins
I want to hear your opinion about memecoin in the crypto market:
- Do you support the existence of memecoin in the crypto market?
- Have you ever invested in memecoin? Which memecoin is that?
- Has your investment in memecoin brought you joy, profit or loss?
References:
[1] Truck Driver That Made $3 Million from Dogecoin (DOGE) is Now Selling His Bags to Invest in This New Memecoin
[2] From $1,000 to $1 Million, How Shiba Inu Made People Millionaires
[3] Becoming Millionaires in 2 Weeks: How 3 Addresses Got Rich with PEPE
[4] Buffer: Meme
[5] Investopedia: Meme Coin Explained
[6] Avalanche Foundation to Purchase Meme Coins as Part of Culture Drive
I think that the presence of memecoins in the crypto market is very disturbing because so many memecoins do not live up to expectations, memecoins do not deserve to be in the crypto market, but not all memecoins are useless because there are still some that still survive and others are just shitcoins. and I never invested in memecoin because I'm not interested.
I don't know what should i answer! if i should support memecoin or not. Cause it has negative and positive both sides. Negative side is, people have lost their money for memecoin hype or for sake of become rich. Memecoin scammers make many people helpless and these innocent people have negative thoughts about crypto market. But the positive side is memecoin makes many people Millionaire as well rich enough. Besides memecoins can make themselves pumped in bear market that attract people to Crypto market. Yeah I already invested in memecoins. my feelings was neutral. Cause profit and poss are kind of same
Jump to: