Topic: Are memecoins tarnishing the image of crypto? - page 11. (Read 1822 times)

Not really because even if meme coin is known to be a pure scam it didn't give any big problem as a whole since many already know that there are just a scam dev take the advantage on what is the current trend in some particular season. And beside there are so many things that people would probably love about crypto and meme coin scam is just isolated cases which people can avoid if they just do there research before investing.

Why should the blame be on all cryptocurrencies when those newbies don't do any research before making any investments? Who in their right senses would spend their money on something without even getting to know it first? Would you do it? I don't think so because I wouldn't. No one likes to lose money, so when someone is making an investment, it's their responsibility to first do some research about it and understand how it is and how it works, and what it is, and then go ahead.

Those newbies who get greedy and invest in these meme coins are to be blamed for that because they know these coins can sometimes provide great profits and that is the reason why they invest in them, otherwise, even they know that these are not actual cryptocurrencies but are just shills.

Be careful with this advice, some might take it to heart to do it and they might just blindly invest in shitcoins hoping to hit the jackpot. Remember when Squid Game got popular and some scammers created a token of that but then created a pump and dump scheme to scam their buyers who can't do anything about it, that's the implication of people riding on anything that trends without thinking. In regards to the question about memecoin being a bad reputation for crypto, I don't think that it is because there's far worse stuff that people associate crypto with like Darknet stuff and money laundering.

I don't think with present of meme coin give impact for tarnishing the image of cryptocurrency, many people earn much profit after investing in memecoin actually if you still remember with shiba coin when success listing on Binance many investor earn more than 1000% profitable due increasing price. Actually present with memecoins will give unique cryptocurrency to earn much profitable than investing in top coins difficult on short time can raise more higher than memecoins.

Not problem investing in memecoin and its tarnishing the image cryptocurrency, be careful with investing in memecoins have start in the early time when launching to public, don't push your self to buy memecoins when price raising up because high risk when price going down difficult recovery to higher price.

In my honest opinion, most of crypto is useless. Now regarding meme coins, Some people get overnight rich with them and some fall to scams — those who become rich will praise crypto even tho it's mostly useless whereas those who fall victim to scams or just lose money in market will blame it despite there being low percentage of good things in it. I think somehow it evens out.

Even not on the bullmarkets on which there are still people who do make out money with meme coin investment but of course its not something that would really be giving out some assurance but rather

it would be a risky move to be done by someone but profitable if it done right plus having the luck because not all meme coins do pump and just like with those typical altcoins in the market on which it do really make out tons of rugpull and this is why people should really be careful on investing to this. We've seen into those trends on which making use of Dog based meme coins and next we do have those pepe like coins and next is to those having that cartoon characters kind of naming with those coins and so on. Recently, i have seen about 2.0 or 3.0 or this had become the trend
and i dont know on whats next because it do keeps on having those kind of changes when it comes to name hypes and something like this.

About on the issue about tarnishing then its pretty common that there would really be frauds and scams projects which these things arent something new and something that should really be careful about. Dont make yourself get dragged with the hype and always DYOR on choosing up your meme coin but dont expect something like this to be hold up for long term because we do know
that meme coins arent that good on holding for long and just good for short term duration.Just look for one time pump then get out on securing your profits and then find another one.

^ Investing in memecoins can indeed be profitable during bull markets, as these periods often see significant price surges and hype around certain coins. Timing your investments to catch the pump before it potentially dumps can be a strategy some investors use to capitalize on short-term gains. It is definitely right, it is true that not all memecoins are scams, their low volume and limited usage can hinder long-term sustainability and mass adoption. Many memecoins cater to niche communities, which can limit their mainstream appeal and demand just like for example Elon Musk's support for Dogecoin is a prime example of how influential figures can impact a coin's value. The hype generated by well-known personalities can attract a surge of buyers, but this should not be the sole reason for investing in any cryptocurrency.

Hmm, ICOs and all types of pre-sale projects maximum of the time disappointed the investors as such types of projects are designed by the motive of fundraising and then wooofff.. Disappeared haha. I have seen a lot of such projects in my early days. Haha, I haven't seen a single person dear who is Millionaire by Investing in the Meme coin. I know you may argue with the Shib and Doge with huge returns, but do you really think most of the people who invested early really booked the profits at the ATH?

Even at ATh or on high prices those who really booked some decent profits made re-investments in Greed and lost what they've gained before. Meme hunting is Injurious for your health haha even though for your funds. I will endorse your view of never going before the meme hunting.

I think whoever that is investing in cryptocurrency or any other business should at least do an elementary research on what he or she is about to invest on. You don't expect to randomly invest on every coin that has low price or that is hyped. Your friend is part of those that wasn't careful to take his time , at least he would have known by the time of investing that the price have done far more than expected price from $0.02 to $0.70+, that was a big performance and it was expected to drop just as bitcoin was dropping also. We need proper research to avoid unnecessarily.

Newbies shouldn’t rush into investing in any coin asides from bitcoin when they newly join cryptocurrency and want to invest. The best they should do is seek for knowledge first before going on to invest. This will immediately save them from the risk of investing in such memecoins.


Most of those newbies join the crypto space after been told about how a particular coin skyrocketed and people earn profit from them. There mindset were already groomed that they’ll make profits if they invest in some coins, which does not turn out to be so always. They were only told the advantage and not the disadvantage of investing in cryptocurrency.


That’s just like reducing their chance of loss. As long as it’s a meme coin, more than 90% of them will exit the market since they can’t withstand the market pressure and volatility. And some exit after the inventors already made their profits from people’s investments.

Please note that only a select few memecoins are preferable to buy in during a bull market; otherwise, someone who is unfamiliar with cryptocurrency might assume that all memecoins are excellent to hold during a bull. Because they are aware that people are prepared to cash out in any case, coins, real or fraudulent, act in the same manner during this time. People have started to differentiate between legitimate and fraudulent pumps once Elon Musk started pursuing dogecoin. During this time, one of my friends lost money to a phony pump and gave up on investing in cryptocurrencies. Ever since, he has been vigilant about the type of coin he plays with.

Yes definitely it is getting worst day by day. In the past we were so clean with the Bitcoin alone but immediately Altcoins started popping out from nowhere. Initially even the altcoins were giving good results but they also started to scam people. Then thousands of altcoins hit the market.

Now, we have “different categories” of altcoins with differently mastered scam ways. Lolz.

There comes the meme coins category. The cheapest one you can buy on the market and manipulate easily. Started to attract newbies a lot in the hunger of making quick profits. But it’s surely going in the bad direction.

Although it's true that some people have had bad impressions of cryptocurrency generally because of the experience they have had with some scam altcoins out there, if only anyone in that category also realised that there are thousands of cryptocurrencies and made sure that they invested in the one that was more dominant, like Bitcoin, then they would not really fall victim to scams. But the reason why some fall victim to scams is because they saw crypto from the beginning as a means of making a short-term profit because of the pump and dump scheme of those alt and meme coins. Most people see Bitcoin as an asset whose price is too high for them to purchase, and for that reason they rush to look for those cheaper coins, which at the end of the day will still disappear with their money. The fact is that those memecoins will never cease to arise; people just need to get used to having better knowledge about crypto generally so they know what decision they are making to invest in any crypto.

People are seeing the Dogecoin market as a success for memecoins, and in fact the price of Dogecoin has increased due to the increased demand for it due to Elon Musk's tweets.
All memecoins that succeeded were not the criterion for success being memes, but rather because of the demand, which will lead to a rise in the price of any currency, regardless of its nature.What is happening in memecoins is scam, as they promise the user quick profits and false promises, and the problem is not in the memecoins, but in the people who believe this propaganda without any analysis or thinking.

Memecoins are better invested during the bull, this is the best time because you should be ready to cash out soon with the pump before it dumps. So it is not all of them that are scam but they are low volume as they hardly create demand because of their usage which doesn't really reach out to large number of people niche. Another factor to look for is who is under the memecoin, who controls or hypes it. Like Elon musk hyped dogecoin, many people began to buy it because of who was identifying with dogecoin .

I think it is quite the opposite. Memecoins are actually making crypto even more famous among the youngsters and that's obviously not a good thing. Lots of young people started their crypto journey with dogecoin probably. If dogecoin didn't exist, these people would never know much about crypto. Don't focus on the prices too much, yes climbing prices are a part of this game but the network effect is far more important and dogecoin brought lots of people in. I think there are some good memecoins and the absolute best of them is obviously dogecoin and I don't have any problems investing in it.

This is a free market on which it wouldn't really be that so hard on making a new coin specially on BSC or even on erc. Most scammers would really be just having to put some liquidity on the time that it would be touching up those DEX on which it would really be just a show off and trying out to lure in those investors and believing that it would really be that some coins that would burst out in terms of their  value in short time.
We cant really be able to blame some people because once you do really be able to get in on earliest time as possible then returns would be massive but of course the risks is really that too high.

Its true that it isnt only all to be blamed on meme coins but also in other altcoins as well on which there are really tons of rugpulls that do happen on this market on which its not really that only limited into this space.
There's no way on stopping these coins to exist because it would really be that just easy on creating one on which it is really just that a normal situation here on the market.
As an investor then the best thing to do is always do your own research and always having that risk management when it comes to your investment decisions.

I agree most of meme tokens, tokens not coins, are scam but I disagree with you that every day, thousands of meme tokens launched.

Would you mind sharing sources of this figure, please.

Can you change them?

If they are greed, let them be and they will stop their greed and stupid investment style when their losses hit their limits. Because they are greed, they are vulnerable to all types of scam, not only scam meme tokens in cryptocurrency market.

Removing LPs is called as rug pulls but scam projects can scam exit even they already listed on centralized exchanges CEXs. Newbies should not think if a project is listed on Binance, it is not a scam project.

Rug pull definition, what is it?

I wouldn't say so. Crypto itself already had a bad image due to the many scammers that popped up in the past (and even now), meme coins being one of them. While some, while questionable, do bring about some value due to the avid fanbase it has, a lot of the rest are just scams though.

I wouldn't blame memecoins though, every type fo industry has a bad side that most people despise, not just in crypto. And beginners, being well, beginners, can end up being there and incur a lot of problems. It's probably just more apparent here since money is directly involved. Besides, if people get to know crypto well enough, they'd know it's just that side there that's like that.

Is there any information regarding this Bitget's memezone and how does this work? So there's some kind of collateral if you want to get some of these memes you're talking to? I wonder what's with this security if you're just buying a meme, you should have explained it here precisely rather than leaving us behind with too many questions.