Topic: Are memecoins tarnishing the image of crypto? - page 4. (Read 1822 times)

If you haven't seen, it doesn't necessarily mean that investing in memecoins hasn't resulted in the creation of numerous billionaires. Consider dogecoin and Shiba inu as an example. Due to their investor's entry into it by investing hugely in them, these two memecoins made their early investors millionaires

If investing in memecoins is something one thinking about, one should at the very least start doing so early stage of memecoins before it will be well known, because that's when the price of them starts to rise(sell off by then). The following step is a price drop after it must have been initially pumped up in price.

To be on the safe side about memecoins investment, one should be able to sell at the time when there are pumps in price

that's what happened, with the popularity of several successful memecoins gaining great attention from the market. Of course there will be several new memecoin projects that want to take advantage of this momentum to make a profit.
This is like when the ICO project exploded a few years ago. and that makes there are more new ICO projects that are dirty with the end of a scam. This will also apply to memecoins, and all beginners should be wary if they want to play with highly unpredictable memecoins.
Bitcoin may seem slower than memecoin, but memecoin will never last as strong as Bitcoin. short profits may be obtained. but that's when you have the skills. otherwise, there will only be losses.

If those meme coins are scam coins, then they are clearly tarnishing the image of crypto. But we can’t tell that all meme coins are scams, some are even highly profitable than bitcoin but only for short term, as they are not advisable for long term hodling. However, with all the newbies coming in the market today, and majority of them are entering the market with greed, then it’s not really surprising for us that they will fall for these too good to be true meme coins and end up blaming the crypto market for their loss.

Have never seen someone who millionaire through meme coin investment but I am sure meme coin space is the playing ground for cryptocurrency aka the humpback, whale, shark, dolphin, fish investors, etc. Taking advantage of shrimp and naive investors to increase their profit since they don't want to do that using BTC cause they can't afford to miss the surprise BTC will present.
This is why Justin Sun also made a public announcement of joining the meme coin space.


Yes, nobody is expert in not falling for scams but the meme coin pump and dump activities are something that didn't require any expert knowledge. If just invest in Bitcoin since the meme coin market is super manipulated.

I don't see it from an angle that there is a particular coin that is posing a thread to other coin in the crypto market. Every projects need to survive and try there posible best to make sure that things works for them that is why we have been seeing that there are lost of projects in the market even with the ones that don't have an experience team to push the project forward.

 For a project to grow, there is lots of things that need to be put into consideration or else things work like the way it was planned. We need to make sure that we put our money in a good.projects that would not end up becoming a scam at the end of the day. So many bad projects are in the market struggling to survive.

No matter how we perceive memecoins to be, she has made many millionaires through their investment in her, and in the same way, people have been scammed through her.

Having an Investment in memecoins is what someone should consider as a pump and dump kind of investment that anything can happen within a short given time. People should at least stay off investing in memecoins to avoid stories that touch the heart. Not only did the newbies have fallen victim to it, but the well-experienced crypto fellas have somewhat fallen victim to it. That makes it seem that, nobody is an exception to falling victim to scams of memecoins, or altcoins.

only until these meme coins start luring newbies and some random with the unrealistic promise that they have and causes many to lose their money because as you know meme coin is heavily manipulated then its not about making the market exciting anymore.
people speculating on meme coin is fine as long as they know the consequences but its not rare phenomenon that sometimes these meme coin
promising massive returns to the people that don't understand cryptocurrency even a little bit and when they lose they blame cryptocurrency in general.

the capacity and pace of quick profits that memecoin presents make it seem very attractive for many people. who dosent want to make money quickly? almost everyone and in this case you might just invest little money and make a huge sum of money in return. everyone investing in such should be aware of the risk involved and how volatile it can be which is even same to seemingly real project. In the days of ICOs, there are also scams and even a lot so i don't think its  the memecoin that will tarnish the image of crypto. Especially as  a newbie always remember that you should always invest what you can afford to lose.

There's no good coin with the right fundamental because all altcoins will pump and dump and when you're not lucky and buys when the project is about dumping you'll lose but when you buy when the coin is about pumping, you'll make profits and call the project good names. The only coin you can buy and have assurance that it'll rise in the future when the market because bullish again is Bitcoin and the rest are for pump and dump just like the memecoins.

Nobody force anybody to buy the memecoin and from their names, everybody investing in them should know they're joke coins that can make you profits or make you to lose everything that you invested into them that's why it's better you use only little amount to invest.

We can't deny that meme coins ruins the image or popularity of crypto investment. It is because meme coins make many people lost huge amount of their money. Meme coins is just pump-dump coins that relies on the hype only, this makes people think if crypto investment is just like gambling. In reality, it is different with gambling if we choose the right coins (coins with good fundamentals). People who lose their money in meme coins are not aware that meme coins are the coins with no fundamentals. They think all the coins in crypto are the same, they don't know if crypto coins have some type of crypto coins. Sadly, when they got losses in meme coins, they judge all crypto coins have no clear fundamentals like meme coins.

Easy to say but when you are on such situation then decision making would really be that hard or something that cant really be that really be done so easily and this is why people would really be keeping those errors because they are really that being hindered with some factors which would really be mixing up their initial thoughts and the plans that they had made out earlier. This is why it would really be that important that if you are really that planning to make investment then always be having that kind of acceptance of the risks that you are dealing or taking. Always be that adaptive so that you wont really be making yourself that impulsive because on the time that emotion would kick in then everything would really be messed up because earlier plans wont really be followed on which created by another new one. What makes even more harder is that due to lots of coins that we do have in the market then it wont really be that so simple but if you do stick simply into those top ones then it would solve out the problem but since we are really findings ways on making
more money then this is where we do consider on investing with other coins neither other altcoin or some memes.

Depends on how the market approached it, the recent stuff really makes it even worse these days. Back when Doge first started we used it to help a lot of good causes with it and that made sense, but pepe? Really? Pepe? Thats of course terrible. But we do not have to take responsibility for it at all, that doesn't make sense and we shouldn't be really considering that as our problem. If people do not like it then they do not like it and that's going to be fine in the end. I get that some people may lose ton of money due to these shitty stuff but its their own fault and nobody else's problem. We should be just considering that as a normal situation for people who do not make their research.

Many individual are using the success of Shiba Inu and doge coin to invest in other memecoin that won't become successful like doge coin and Shiba Inu did by giving their investors profits. Memecoin has brought a bad name to the market because everybody now wants to invest in them as they have the high chance of giving investors profits and this is making scammers to create multiple tokens to scam investors and call them meme coins because that's what investors are chasing after.

Memecoins are making the market too volatile and this is chasing away institutional investors as they won't want to invest in a market they can't have some influence over. Memecoin are making investors interested in getting rich quick and causing alot of scam to be created.

Right. Even experienced traders take some risk with meme coins hoping that once they pump a lot, then those coins will instantly become hyped and increase their prices all of a sudden, making them instant rich if they decide to sell. But I think history might not repeat itself anymore. Their golden days have gone already and it might take another highly recognized influencer to make them pump again.

Have you imagine how many people that has lost money during the course of making money from shiba Inu and the likes of other meme coins at all time high simply because they want to make money in the same way other people who first started? Check again, I can assure you that there are no any investors that bought meme coins since January 2022 that are in profits to date, the ones that bought from November 2022 are likely in profits but its just few of them and thats was when the market bottom out.

Let's be honest for the first time and say the truth, only few of them has survive, meme coins are shit coins that we are not suppose to exist, they are meme which means fun and are we suppose to invest in fun with our hard earned money, it's a no for me but you know in this space, only few people want to listen, the rest are sheep that are hungry for money and will go to anywhere they are told to go and after they lost money, they cry for been played in crypto but will never listen to the warnings.

There are millions of cryptocurrencies, according to the coinmarketcap; how many of them have succeeded so far? Anyone can create a token by pasting a few lines of code and spending a few dollars. That does not really mean people have to start buying these tokens. Almost all the token that was created in the BSC and ERC is centralized.

Centralized = Scam. How? Let me explain. If a token is centralized and it's a developer can change the total supply anytime, they can increase or decrease the token prize, which is manipulation. Once they see their token bought by a couple of crypto holders, they will increase the token supply and sell their own holding. Now users have tokens, but the value is zero.

The hype created by coin memes is extraordinary. when it exploded it made quite a lot of beginners jump in to join in investing. the memecoin market seems to be driven by their own market community. those who have more coins can manipulate prices easily. although currently, more memecoins end up being scams or without development. however, we can see they are growing their community quite quickly. even with the airdrops carried out, it managed to build a fairly large community. although we also don't know the market strength.

There are indeed positive and negative sides to the presence of memecoins in the altcoin crypto market. It's just that the existence of memecoins really adds color to the diversity of altcoin types. Currently, the types of altcoins are very diverse. And actually what always leads the rise quickly and also leads the decline so quickly is Memecoin. Memecoin is the most risky altcoin compared to other types of altcoin. It's just that many people actually like Memecoin because they can make a quick profit when the Memecoin is pumped. But of course the risk is also much higher because it always declines quite quickly. But Memecoins like Doge, Shiba, and Pepe. It seems that this memecoin has gained more trust from the community. So the price can be maintained longer after the increase.

But memecoins are however only suitable for short-term investments or for medium-term trading. That is, enter when the hype starts and leave when the hype is over. So never hold it for the long term because the risk is too big. But for Doge and Shiba, currently the number of holders continues to increase. Because even though Doge and Shiba are memecoins. But Doge has its own blockchain and Shiba also has projects that are continuing and getting better. Even more active than other types of altcoins. So Shiba and Doge might be an exception. Because the market cap is very large. So it is difficult for a sudden sharp decline to occur.

Some of Meme coins were profitable and productive in past due to which they are spreaded as a successful coins in crypto world but most of the time there are higher volatility in the price of Meme coins as a result of which they completely loss their values.

In crypto space there were many scam coins in which investors put money and all their money become zero so this is also a reason that why most of people are not trusting Meme coins.

Whenever someone tweets about the unpredictable price of Meme coins or about its failure then it directly effects the worth of Meme coins which means that we cannot sustain our investment in meme coins as it losses its values as a result of fault discussions.

Well, I think the meme coin gives the crypto market a boost because of the hype and ROI and attracts many more potential investors to the crypto market. On the other hand, because of these coins, people think that crypto is fake money. Meme coins get a reputation because of DOGE's success as a meme coin. However, the price of DOGE was increasing due to Elon Musk's tweet. This has somehow influenced people to invest in more meme coins to earn more money. At the end of the day, some people are getting rich while others are losing their money. Meme coins are turning out to be scams, but still, people are investing their money into shit coins because of the hope that someday they will make a quick profit. Whales are making a profit from these projects, while retail investors are losing their money because of their greed.