Bear Run and the end of many of the Meme/Sh*tCoins

desticy

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Quote from: Yamifoud on May 23, 2021, 07:14:36 PM

Quote from: desticy on May 23, 2021, 06:55:03 PM

Personally, I would rather sit in a bearish trend for a few more years than watch this crazy market allow a lot of scam coins to rip off ordinary people.
The market is in dire need of cleansing, and what we are seeing now is exactly that.

NOPE, honestly...many were so happy when the altcoin season has come, they're getting more profitable out from these shitcoins that they got from joining the bounty campaign and I think they have the right to get compensated and get their rewards at a good price. Aren't you happy seeing them for just one day after months and years of holding they got the prize?
Anyway, their happiness has nearly come to an end. The bear season is coming near or even has started already so these people will still need to wait for another months and years, it is a long struggle for them.

The fact of the matter is that even with the psychode of the altcoin season, many see their prize but do not fix it,
they have forgotten past mistakes, and in the end they continue to shout "we need more", how does it all end? Correction. The bear market is just around the corner, there is no eternal growth.

tyz

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Quote from: BTC113 on May 23, 2021, 11:46:36 AM

Personally, I think and hope that a longer bear run throughout summer could potentially lead to the end of many projects that were created solely to cash in on the hype of crypto. My analysis is that less than 20% of crypto holders are invested because they believe in the utilization or general functionality of their coin or token. The overall market cap of all of crypto is around 30% of its stated amount on CoinMarketCap, IMO.

If crypto is going to continue to climb the mainstream latter in terms of quality investment tool, stability and actual utilization for the purpose many of these tokens/coins were originally created then we are going to need to purge some of the craziness. I am hoping this bear run will be the beginning of that process.

I think not. It has been shown in the last bear market of 2018-2020 that many shitcoins disappear, but there is still some surviving. And especially in subsequent bull markets, new shitcoins then come shooting out of the ground. This seems to be a never ending cycle.

Dread Pirate Roberts

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Quote from: BTC113 on May 23, 2021, 11:46:36 AM

If crypto is going to continue to climb the mainstream latter in terms of quality investment tool, stability and actual utilization for the purpose many of these tokens/coins were originally created then we are going to need to purge some of the craziness. I am hoping this bear run will be the beginning of that process.

I think the current market conditions are not because of these things anymore. I think it's a matter of banning mining in China for big companies there that start mining businesses there. and for the meme coin issue i'm not really interested except doge . I've been using it for a long time, not because of Elon. and i don't believe other memes coin for my investment asset .

BIN-BIN

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Market crash always exposes fake coins. The crypto market has faced the challenges of fake coins which are produced solely to cash in on the bull market with no future relevance or usability. These game coins have made it hard for the real legit coins to survive in the market because of their dominance.

Coroline

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Quote from: lixer on June 23, 2021, 02:22:19 PM

Quote from: Fesatmas on June 23, 2021, 12:48:31 PM

I can't name the meme coins that have wrecked the market. Even then, during a bear market, they will be carried away faster than other altcoin prices that are still considered not classified as shitcoins. that's the impact when everyone continues to glorify memecoin that relies on tweets and tweets. Their weakness is very clear. and the crypto industry doesn't need a full tweet just toying with the price. it is no longer decentralized, but centralized.

I wouldn't really claim it "ruined" the market but it didn't help that dogecoin got up incredibly high, it was literally 0.003 cents, now it is 23 cents, and at its peak it was 70 cents! You know how much money required to make a coin that high? Too much, billions of dollars total need to be bought and not sold in order to make it that high.

So, did it ruined? I do not think so, but it sure did not help because instead of a lowly memecoin getting that much attention, if we had like the top three got that attention we could have seen them a lot higher, give the same amount of money to bitcoin and we could have been 70k+ easily, maybe even more. So was this drop caused by memecoins? I am sure it was not, but it also hurt the fact that other coins at the top could have made us all a lot more money but instead it just went on a coin that eventually became a joke.

yep, I agree with you, it's not easy to increase the price many times in a short time. It takes a lot of energy and this coincidence is driven by the richest man in the world. A special blessing for this doge who got lucky. This is not a disaster, if there are price fluctuations it is a natural thing in trading.

devil2man

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the market is still fluctuating we cannot speak of a bear phase yet, and in any case if we look at the values at the end of 2017 it is still in a bull phase, many of the meme coins as useless would have disappeared regardless of the market trend

lixer

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Quote from: Fesatmas on June 23, 2021, 12:48:31 PM

I can't name the meme coins that have wrecked the market. Even then, during a bear market, they will be carried away faster than other altcoin prices that are still considered not classified as shitcoins. that's the impact when everyone continues to glorify memecoin that relies on tweets and tweets. Their weakness is very clear. and the crypto industry doesn't need a full tweet just toying with the price. it is no longer decentralized, but centralized.

I wouldn't really claim it "ruined" the market but it didn't help that dogecoin got up incredibly high, it was literally 0.003 cents, now it is 23 cents, and at its peak it was 70 cents! You know how much money required to make a coin that high? Too much, billions of dollars total need to be bought and not sold in order to make it that high.

So, did it ruined? I do not think so, but it sure did not help because instead of a lowly memecoin getting that much attention, if we had like the top three got that attention we could have seen them a lot higher, give the same amount of money to bitcoin and we could have been 70k+ easily, maybe even more. So was this drop caused by memecoins? I am sure it was not, but it also hurt the fact that other coins at the top could have made us all a lot more money but instead it just went on a coin that eventually became a joke.

bekti3

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If you look at it now, I actually prefer to sit and see how this bearish season is going because with this bear I hope the market is more optimal in cleaning up because for me now there are too many shitcoins and there needs to be this kind of cleaning so that at least their number can be reduced. and judging by now it looks like there's been a bit of progress and a partial cleanup could take place.
and for those of you who are still buying shitcoin hoping for a pump and backup from billionaires, I think you should immediately improve your thinking and start thinking in a brighter direction

Alanaz

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Quote from: Yogee on May 23, 2021, 01:58:33 PM

All of these meme tokens are inspired by a coin that currently sits at no. 4 in market capitalization. You'll have to end that first before you can end all the copycats. That probably wouldn't happen since another popular and influential guy is backing it up.

this is very easy to talk about but very difficult to do because of all of us in crypto not all of us have the same thoughts about this meme coin even more so if the meme coin already has billionaires who are ready to back up and promote it will be very difficult for people who do not have the power and has no supporters in the opinion that this is wrong.
all they (newbies & fomo) know is how to follow these billionaires and profit without them realizing the real danger that lies behind them

Godwinpaul

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The point is that most persons are in the cryptocurrency space basically for the money that explains why it would be difficult, if not impossible to rule out sheet coin, most people are on the look out for coin that could increase by 10000% overnight and any project that can give that is cherished. The bearish trend is part of the process to bring sanity to the market.

Fesatmas

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Quote from: gurunanakji777 on June 23, 2021, 12:38:56 PM

Yes, I would also think many of the meme/shitcoins will disappear in the bear run. Doge will suffer a lot during the bear run including shit coins. I feel sad when most of the investors are enticed towards meme or shitcoin in order to make quick money but in the end when they will lose they will blame the crypto market So investors should also think logically and invest in traditional coins rather than meme or shit coins. Apart from this investors or traders should not take Elon's tweet seriously about doge & Btc.

I can't name the meme coins that have wrecked the market. Even then, during a bear market, they will be carried away faster than other altcoin prices that are still considered not classified as shitcoins. that's the impact when everyone continues to glorify memecoin that relies on tweets and tweets. Their weakness is very clear. and the crypto industry doesn't need a full tweet just toying with the price. it is no longer decentralized, but centralized.

gurunanakji777

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Yes, I would also think many of the meme/shitcoins will disappear in the bear run. Doge will suffer a lot during the bear run including shit coins. I feel sad when most of the investors are enticed towards meme or shitcoin in order to make quick money but in the end when they will lose they will blame the crypto market So investors should also think logically and invest in traditional coins rather than meme or shit coins. Apart from this investors or traders should not take Elon's tweet seriously about doge & Btc.

john1010

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Quote from: carlfebz2 on May 24, 2021, 03:52:03 PM

Quote from: john1010 on May 24, 2021, 04:58:24 AM

Saw this meme on tweeter, yeah part of it are true, but real trader always has a fundamental analysis in trading are the one who gain the profit.

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For those who actively trade then they are the ones who arent really affected much with market volatility since they could always play with the game no matter what the trend is.

The ones who do cry is to those who do play or trade along with futures or margins which could really fucked you up or neither give you big profit out of these
very wide movements.

We cant tell about bearish run had been started but basing off with sentiments circling around then you can really tell that
it might be.

Futures trade spark and rekindle greediness, but if someone want's a stable and low risk trade, Spot trading is the best it will not give a huge profit like futures trade but if you take a serious study and analysis you can get a good profit no matter what market outcome.

pilosopotasyo

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Quote from: BTC113 on May 23, 2021, 11:46:36 AM

If crypto is going to continue to climb the mainstream latter in terms of quality investment tool, stability and actual utilization for the purpose many of these tokens/coins were originally created then we are going to need to purge some of the craziness. I am hoping this bear run will be the beginning of that process.

Expect something like this to happen in the bull run, many developers know that investors are looking for a project that is on hype so they can make short term profit and Elon started the hype with his Dogecoin support, some of them are DeFi based token and farming tokens like SafeMoon and Safemars, these projects are risky but many people are supporting it.

el kaka22

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I have checked on the price of many coins, I understand that the high cap ones like bitcoin, ethereum and BNB went low but some of them went down more than the others. Look at BNB for example they were third in spot right? So everything went down which means bnb should go down as well but not in spot, they should still be in third spot and just down as much as the others? Well they are now 5th in spot and they were even 6th at some point because it went down even more than the others.

The only reason for that is the fact that there were a lot of shitcoins in BSC and they went down so much that some of them actually ended up being 90% down and that caused BSC to go down more than the other ones and that is the main reason. This is why I am not really shocked about what happened to bnb, and what happens to memecoins and shitcoins, they are the first ones people leave when a crash happens.

michellee

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Quote from: ecnalubma on May 25, 2021, 07:34:13 PM

Dogecoin should be the one to suffer first, its hype should end and the rest of shitcoins in the market. But some may seem knew that bear won’t last. Instead of people bringing to invest in real crypto assets, people tend to fall on shitcoins first because of the massive hype.

I guess not just dogecoin will suffer because many coins are getting the same as dogecoin, especially if bitcoin still go down to the bottom. But the bear will not stay on the market forever. Maybe the bear can remain for a long time, but the bear will disappear soon and the bull run will come and give us the profit. We can not deny that this year, maybe many meme coins will come out and fill the market and attract many people to invest because people want to profit from meme coins.

int03h

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It looks like the bear market hasn't happened yet as the sell-off is over and buying continues to prevail.
Coin memes continue to be popular. DOGE has been in the TOP5 Crypto with the largest market capitalization after BTC, ETH, USDT and XRP. During the recent drop, most of the old and new cryptocurrencies fell 2-5x but with DOGE it was less than 2x.
I think the coin meme is still trending in the market.

manggis97

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We can not avoid sh*tcoin created on the market because easy to create it by using blockchain smart contract, and also less regulation in crypto space. There are also many competitor of blockchain smart contract now. On the cryptotracker of Coinmarketcap mention the total of crypto/coins more than 10,000, and mostly consist of tokens of ERC20 and BEP20. As investor, we should be more diligent to select it.

ecnalubma

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Dogecoin should be the one to suffer first, its hype should end and the rest of shitcoins in the market. But some may seem knew that bear won’t last. Instead of people bringing to invest in real crypto assets, people tend to fall on shitcoins first because of the massive hype.

Rengga Jati

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I don't think that meme/shitcoins will end because of this bear run. Well, as we know that every time, there is a new project offering their coin or token which is definitely still new. And many of them are shitcoins, only creating the projects based on the hype condition at that time, raising money, and then leaving the project deadly without any consideration to investors.
This is actually a scam but in the form of a crypto project.
When there are new methods or project types, there will be also many new projects that follow. Like what happens to DeFi projects, BSC, and many others.

Topic: Bear Run and the end of many of the Meme/Sh*tCoins (Read 419 times)