Are memecoins really important for the crypto market? - page 7.

AnonBitCoiner

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Quote from: batang_bitcoin on January 29, 2024, 03:53:48 PM

Yes, it all started from Doge but it's better if it's the only one meme coin in the market.

I think it is better that there is more meme coins instead of one because more will provide more opportunities to invest and get wealth. If we wisely choose meme coins then risk will not be as much as everyone is feared about meme coins.

Quote from: batang_bitcoin on January 29, 2024, 03:53:48 PM

Dogecoin but I've missed the peak of it and sold too early.

I don't know why you sell early but I think long term investment can give you more profit instead of selling at lower price after short period of holding. I think not only meme coins buy all types of coins are risky but we have to cope up with this risk instead of leaving the profit due to fear of loss.

Hispo

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Honestly, I believe memecoins are the kind of asset which make more damage than good to this ecosystem, unfortunately.
When cryptocurrency was a new thing and people within this world did not have so many bad intentions, memecoins like dogecoin were made or conceived as an innocent joke or parody to Bitcoin. It was no intention to profit out it.
Today, the landscape is completely different: behind most of the memecoins which try to hype up the people in the market there is a good chance to find a scam or an attempt to scam people.

I believe there is some value and purpose behind the existence of Dogecoin and Shiba Inu, but if we talk in net terms of the market, then I am inclined to say memecoins are no important and most of them just hurt the reputation of serious projects which seek to solve problems.
I would not advice anyone to invest heavily in memecoins, specially in new ones which came out of nowhere. At least Dogecoin has a long track record and precedents of pumping its price very hard when the community is hyped in the alternative coin season.

snowpega

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I do not think memecoin has strong use case in the crypto space because crypto space can exist or survive without memcoins. On the other hand, when someone is thinking of getting max profit from Memcoins so in my opinion it is nearly impossible or very rare chance that memecoin can return max profit to investors so they can be rich overnight haha! I personally do not invest in memcoin due to high risk becasue memecoins works on high pumping and dumping schemes that is why I avoid investing in memecoins

ultrloa

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Quote from: antonyyu3 on January 31, 2024, 03:15:34 AM

Personally, I don't see any fundamental value of Memecoins. But this market just started for like a decade? So who knows

No fundamental value its because this is just for pump and dump then immediately turn into scam. That's why its no sense to give any importance for this coin since we know that its reputation is somehow bad and to many scammers just take advantage of its fame.

Maybe later on this meme coin hype subside and it will be change into other famous thing that can caught peoples attention so people need to be aware with that especially if they are participating to much on meme coin hype since for sure just like other technology which been hyped for past years it will just fade out since many people will just find new interesting thing that can caught their attention especially on invest matters.

antonyyu3

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Personally, I don't see any fundamental value of Memecoins. But this market just started for like a decade? So who knows

peter0425

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Quote from: Vincom on January 28, 2024, 04:10:50 PM

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 Roll Eyes

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?

Not in the moment but like you I have also invested or better call Have dogecoin in my wallet for how many months and I even use this for gambling , but yeah I have sold them all in much lower price.

But what does Memecoins doing in market now, I think they are more on pump and dump coins .

Luffygroove

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I think meme coins were indeed meant to be a joke and for fun projects back then, far before the Dogecoin price soaring high because of Elon Musk's hype. It was created without a single bit of serious business and only as a joke. But now, I think the goals are already far deviated. Meme coins become a pump-and-dump mechanism that is used as a commodity to sell the belief that "people can get rich in one night." So now, people who make and jump into meme coin projects have a clear goal, which is far from only having fun.

Sayeds56

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Quote from: Natalim on January 29, 2024, 04:43:02 PM

Dogecoin is not totally a nonsense meme coin as it also contributed some but the rest is just something we never see as it real use case in the crypto space.
Generally, I couldn't say they are important but yeah, developers have the right and freedom to make these stuff even though people are not needing this.
At the point that meme coins are in the hype, people are happy but now, they are rejected and ignored - they are just considered as the pastime and in the long run, it helps nothing but just another shitcoins.

In fact Doge initially started as a meme coin and gained popularity due to its humorous nature. Going forward, it is certainly contributed for numerous charitable causes and gained support from community. I am holding reasonable amount of Doge coins those I purchased during the bearish phase of market with the expectation that it might break its previous all time high (ATH) of $0.68 and reach $1 in the next bullish market.

yazher

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Any coins that are boosting the crypto market and make it more popular to others, is good and welcome as long as they are true to their investors and making effort to keep their promised and what they have told people in their roadmap. Because if they only make meme coin to confuse the investors and quietly stole their money, they are just like others who will gonna ruin the crypto market. That's everyone should be aware of this kind of fraud so that they can prevent themselves from investing not only in the meme coins but in the other altcoins as well.

Vincom

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Quote from: yazher on January 30, 2024, 07:55:55 AM

It's just something we need to try if we haven't tried meme coin investment in the category of Altcoins. You're right because they should not make it like how they are investing in other Altcoin that has some solid developers who have great idea for their projects and have updated roadmaps which will make their project alive and have a high chance to increased their alrcoin price.

I think memecoins are not bad, but it would be a mistake if investors put too much hope and capital into memecoins. The risk of memecoins is too great, many times greater than the opportunity, so investors should be cautious.
It will be more appropriate if capital is spent on good projects: strong teams, effective solutions, and famous partners and investment funds.

Quote from: BRINIRHA on January 30, 2024, 09:56:52 AM

I still think that the existence of memecoins is important in crypto. Because we can't deny that memecoin also brings more beginners into crypto investment. Although they may have come initially because of FOMO, they eventually learnt and started to become great traders in crypto.

I have traded in memecoin. I even invested a little bit in memecoin. But I have never had a big profit in memecoin. But if it's a small profit then I get it very often.

We can't stop them, they will buy memecoins because they like memes and hear people talking about memecoins. I hope they don't lose too much money on memecoins, so they will have more money to invest in better projects.

I believe that profits have a direct impact on our perspective. Memecoins are very interesting and have a very clear trend, it would be better if we approach them with a technical analysis approach because it is difficult for fundamental analysis to be useful with memecoins.

BRINIRHA

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I still think that the existence of memecoins is important in crypto. Because we can't deny that memecoin also brings more beginners into crypto investment. Although they may have come initially because of FOMO, they eventually learnt and started to become great traders in crypto.

I have traded in memecoin. I even invested a little bit in memecoin. But I have never had a big profit in memecoin. But if it's a small profit then I get it very often.

Essential10

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Quote from: arjunmujay on January 29, 2024, 11:09:17 PM

Quote from: Bureau on January 29, 2024, 10:30:56 PM

There is only one meme coin and that is Dogecoin as it was the first one. What you are seeing is developers are creating coins like dogecoin to cash the hype market. Those who were not able to join the hype when Dogecoin was dirt cheap are now investing in other meme coins with the belief that they would make good profits in the future. The first replica of Dogecoin was Shiba INU and those who have bought it are still stuck with their investment as it never made it to where Dogecoin is now in price perspective.

still do research first before buying altcoins. Moreover, coin memes will only move during hype. The first thing you have to look at is the developer and what breakthroughs will be made. Take Dogecoin for example, it can still survive for a long time now because the community really believes in this coin. Moreover, it is supported by Elon. different from other memecoins, especially new ones

Meme coins pump the most but these coins are the most risky. Of course research is important but few people realize that this meme coin will become hype in the coming days, do they really understand. Meme Coin's success can vary widely but is not guaranteed. Like DogeCoin, the name of the coin is still popular in the market due to Elon Musk. The future success of Meme Coin depends on several factors including market demand, adoption, hype. Invest money that you don't mind losing. Make your own decision on meme coin invest, learn all about the coin then buy.

yazher

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Quote from: Vincom on January 29, 2024, 01:01:16 PM

You joined this market since 2014 as a Miner? Surprisingly!
I didn't even know FLAP coin, but it's good that it brought you profit in this market.
Memecoin should be considered a fun investment instead of a serious one with the goal of making investors millionaires like some really lucky people on TV Grin

It's just something we need to try if we haven't tried meme coin investment in the category of Altcoins. You're right because they should not make it like how they are investing in other Altcoin that has some solid developers who have great idea for their projects and have updated roadmaps which will make their project alive and have a high chance to increased their alrcoin price.

Vincom

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Quote from: Yatsan on January 29, 2024, 01:33:01 PM

If it is with the mentioned importance, then answer is no. Meme coins are most of the time not having utility and therefore not haaving enough usage to pull investors towards this industry. However, it is a profitable coin as we saw on the previous years such as with SHIB, $PEPE, and more. It just happened to be most of the time manipulated by whales due to high token supply and low market value. Succeeding memetokens are having high market price increase on its listing with different exchangers especially big ones such as Binance. Problem is the fact that not all meme tokens are having the same outcome upon listing so better be careful of going all out. It would be much better to wait for corrections in its price. If I would be asked, I think meme coins are only okay for short term investments.

I have experienced doing some swing trades with meme tokens and fortunately I gained decent profit. However if it is a coin to be advised over major coins, then I doubt of it especially those which are still on price ceilings at this point. A good alternative for me if it is among other altcoins in this industry but not having that much of an impact in general.

Many memecoins have recently been listed by major CEXs and caused their prices to increase dramatically, whales also intervened to push up their price. I agree that memecoins were manipulated and pumped up to create profits for whales, while many other investors lost money.

But from a marketing perspective: thanks to memecoins, many people knew crypto market, they joined just for fun, not investment, but then they became Bitcoin and Altcoins investors.

I think memecoin can be the best marketer for the crypto market Grin

LogitechMouse

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Quote

Re: Are memecoins really important for the crypto market?

Yes and No.
Of course it will depend on the person you are asking this.

For those who made tons of money by investing into meme coins, they will say yes it's important. I mean there are a lot of investors already who changed their life just by investing into meme coins. Of course luck plays a big role towards their success. For those who lose money, they will despise meme coins, and they might say "I hope meme coins didn't exist anymore. " blah blah blah. Many made their first millions by investing into meme coins, but there are many out there who lost their money because of investing into these meme coins shitcoins.

TBH, I lost money into meme coins, and as much as I want them to be removed, I always believe that there are still some meme coins out there that still has a use case to some investors. Whether they use them to transfer their coins because the transaction might be low, or they use it to donate to other people or whatever it is, meme coins are still useful, and kind of important. It's just that, there are many meme coins that turned out to be a scam coin thus, it changed how the investors sees it.

cryptoWODL

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Quote from: tsaroz on January 29, 2024, 09:59:09 PM

I have for several times invested in meme tokens. I had invested and held on Dogecoin in the past but I don't hold it now. The most hodled memecoin by me at the moment is Pepe, followed by Popcat. The meme trend has shifted towards Solana network so I'll be looking for more Solana memecoin in the future.

There are many meme coins in the cryptocurrency market. But among them we are most familiar with Dogecoins. Like you I also invested in this coin but long ago and even hold it for a long time. But I keep more meme coins for investment, they are BONK, PEPE, FLOKI. But I was addicted to Baby DogeCoin for a long time and even involved myself in investing a lot. As a result I got only loss from there.

Quote from: arjunmujay on January 29, 2024, 11:09:17 PM

still do research first before buying altcoins. Moreover, coin memes will only move during hype. The first thing you have to look at is the developer and what breakthroughs will be made.

Of course, investing in alt coins and meme coins should be done well before analysis and research otherwise there is a high chance of loss. As investing in alt coins and meme coins involves risk.

Quote

Take Dogecoin for example, it can still survive for a long time now because the community really believes in this coin. Moreover, it is supported by Elon. different from other memecoins, especially new ones

DogeCoins have been in the market for a long time and will continue to exist in the future.This coin is the most popular of the meme coins for me and most people.If we review the history of this coin, we can see that after Elon Musk tweeted about this coin, the coin gained a lot of popularity and increased in price.

Silberman

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Quote from: arjunmujay on January 29, 2024, 11:09:17 PM

Quote from: Bureau on January 29, 2024, 10:30:56 PM

There is only one meme coin and that is Dogecoin as it was the first one. What you are seeing is developers are creating coins like dogecoin to cash the hype market. Those who were not able to join the hype when Dogecoin was dirt cheap are now investing in other meme coins with the belief that they would make good profits in the future. The first replica of Dogecoin was Shiba INU and those who have bought it are still stuck with their investment as it never made it to where Dogecoin is now in price perspective.

still do research first before buying altcoins. Moreover, coin memes will only move during hype. The first thing you have to look at is the developer and what breakthroughs will be made. Take Dogecoin for example, it can still survive for a long time now because the community really believes in this coin. Moreover, it is supported by Elon. different from other memecoins, especially new ones

Meme coins should be thought as investments that are very risky, and this is because you have no way to know if the meme coin will go up in value or crash, since it is not rare for a meme coin to gain massive success, while a meme coin that was released at roughly the same time and that has the same characteristics disappears without any chance to make profits for their investors, so people should do well to keep this in mind before they invest in those coins.

arjunmujay

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Quote from: Bureau on January 29, 2024, 10:30:56 PM

There is only one meme coin and that is Dogecoin as it was the first one. What you are seeing is developers are creating coins like dogecoin to cash the hype market. Those who were not able to join the hype when Dogecoin was dirt cheap are now investing in other meme coins with the belief that they would make good profits in the future. The first replica of Dogecoin was Shiba INU and those who have bought it are still stuck with their investment as it never made it to where Dogecoin is now in price perspective.

still do research first before buying altcoins. Moreover, coin memes will only move during hype. The first thing you have to look at is the developer and what breakthroughs will be made. Take Dogecoin for example, it can still survive for a long time now because the community really believes in this coin. Moreover, it is supported by Elon. different from other memecoins, especially new ones

Bureau

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There is only one meme coin and that is Dogecoin as it was the first one. What you are seeing is developers are creating coins like dogecoin to cash the hype market. Those who were not able to join the hype when Dogecoin was dirt cheap are now investing in other meme coins with the belief that they would make good profits in the future. The first replica of Dogecoin was Shiba INU and those who have bought it are still stuck with their investment as it never made it to where Dogecoin is now in price perspective.

tsaroz

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Quote from: Adreman23 on January 29, 2024, 09:39:02 PM

Quote from: Vincom on January 28, 2024, 04:10:50 PM

Do you support the existence of memecoin in the crypto market?

Yes, I support the existence of memecoins because the crypto market remains active even during bear markets. For me, memecoins add an element that prevents the crypto world from becoming dull. Imagine a crypto space without memecoins, everything would be too serious and monotonous. That's why I believe memecoins will continue to have a presence in the crypto world. It's up to us to decide if we're willing to face the risks associated with memecoins when considering investing in them.

Whether we like it or not meme coin makes a large part of current crypto volume. They are a force worth reckoning.
So, I'd say I support meme coin as they have kept crypto popular and brought in a large number of new people and new funds to the market.
I have for several times invested in meme tokens. I had invested and held on Dogecoin in the past but I don't hold it now. The most hodled memecoin by me at the moment is Pepe, followed by Popcat. The meme trend has shifted towards Solana network so I'll be looking for more Solana memecoin in the future.

Topic: Are memecoins really important for the crypto market? - page 7. (Read 1759 times)