Bear Run and the end of many of the Meme/Sh*tCoins - page 2.

Twinkledoe

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Quote from: electronicash on May 25, 2021, 05:58:45 PM

meme coins will not disappear that easily. not until all the investors and newbies will reject them. just yesterday i encounter a project on facebook where a user posted $FREN token whose logo is a dog (again). i guess it doesn't matter anymore whether the project will be for the long term or not as long as they profit from it.
$safemoon for example, if you just read the details, you will be astonished that someone actually thinks it's legitimate.

As long as there are naive buyers of these meme tokens, they will exist. Because most of these investors are aiming for high profits at a short period of time. Most of these tokens have no reasons to exist in the first place. They are just created for the hope that they can deceive users and devs gain money. As you noticed, most of them are anonymous team, so yes, they can easily disappear when they got their pockets full. Anyway, they only invest small resources to deploy their project.

electronicash

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meme coins will not disappear that easily. not until all the investors and newbies will reject them. just yesterday i encounter a project on facebook where a user posted $FREN token whose logo is a dog (again). i guess it doesn't matter anymore whether the project will be for the long term or not as long as they profit from it.
$safemoon for example, if you just read the details, you will be astonished that someone actually thinks it's legitimate.

Review Master

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Every memecoin lovers are still hoping that Elon will create fomo again for dogecoin and other memecoins/shitcoins will pump again. But it won't have that much effect for longer period of time. Vitalik already said that Elon's tweet won't have the same influence forever and we already see how others react on the current correction as many of them already realize that memecoins are nothing but only shitcoins. Also, we don't need bear market for the end of the meme/shitcoins as it's just an hype which will be replaced again by NFT hype. So, meme/shitcoin hype will end soon without bear market. Wink

Fivestar4everMVP

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I understand where you are coming from @poster, and in as much as i agree with you, i dont think the bear market will purge the shitcoin meme coins out, or let me just say that this is but a temporary solution to a very long term problem.
Think of it this way, whether bear or bull market wont last forever, there will always be the mixture of the two, so lets take for example we are in a bear market and this shitcoins happens to die out of the market, what do you think will happen when the bull comes back? alot of new shitcoins will still spring up to take advantage of the market in that moment .
And i also agree with you that less than 30 percent of investors invest in a project or buy a coin for it utility, but you will agree with me that its same like this for all other investment sectors, this act is not limited to the crypto currency space alone, think about the forex market, think about the stock market, think about real estate... alot of people in the world are in need of money and they are all looking for where to invest to help them earn money , very few people, far less than 30 percent invest for utility purposes.

tabas

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Don't you worry, they'll have their own fate as the market shakes the weak hands and as well as sucking all of those meme coins market cap. Good for those who have sold and didn't become greedy and taken their profit with those meme coins.
But that's bad for those who have depended on them and thought that it's going to be a good long term choice.

btcltcdigger

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Quote from: BTC113 on May 23, 2021, 10:46:36 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.

Let me stop you right here. Bear market hasn't started, and it probably won't till the end of the year.
What you're seeing now is pure and simple market manipulation

speedforce

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Quote from: BrewMaster on May 23, 2021, 12:46:21 PM

it won't happen because even if someone finally appeared to create a useful cryptocurrency it will be buried under hundreds of shitcoins. the more mainstream crypto becomes the more pump and dumpers will appear who are more interested in those shitcoins that can go up 1000% in a day and dump and lose the same 1000% the next day so that they could make a ton of profit from it in the shortest time possible.

Its no, if its happen it will just temporary, useful crypto will grow slowly with the community while the sh*t one will ended fast.
I believe many trader only put small portion on the shitcoin just for fun while they invest the most on the good project.

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Quote from: lionheart78 on May 24, 2021, 03:07:46 PM

Quote from: carlfebz2 on May 24, 2021, 02:52:03 PM

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.

It looks like Bitcoin is recovering so many alts are following its trend. I think that the recent dump are pure manipulation in order for the whales/big institution to buy crypto at a very huge discount (Bitcoin at almost 50% off). Now that they accumulated enough, we see the chart turned green again. I think Memecoins and shitcoins will stay. No dump will ever eliminate these kinds of coins because when one dies out multiple appears to replace the forgotten one.

It's getting nearer to reached back to $4K slowly but really bringing a good momentum as of this moment, and yes, in regards with alts the market also showing bullish after that huge dumped.

Good for those who keeps on chasing the dip and managed to buy more alts while the value was dumping, they can now simply sell it out or wait for better value.

Most of the time, those who can take the risk always gained much higher profits once the bounce happened.

lionheart78

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Quote from: carlfebz2 on May 24, 2021, 02:52:03 PM

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.

It looks like Bitcoin is recovering so many alts are following its trend. I think that the recent dump are pure manipulation in order for the whales/big institution to buy crypto at a very huge discount (Bitcoin at almost 50% off). Now that they accumulated enough, we see the chart turned green again. I think Memecoins and shitcoins will stay. No dump will ever eliminate these kinds of coins because when one dies out multiple appears to replace the forgotten one.

carlfebz2

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Quote from: john1010 on May 24, 2021, 03:58:24 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.

Cappex

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I think it took this bear week to eliminate too much hype around useless token memes and extremely risky projects.
Now the Musk effect has been reset and we can continue to build solid projects that will be integrated into the society of tomorrow.

lionheart78

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It looks like the market is in recovery and many Meme Coins are also recovering. I do hope that this uptrend will continue and I don't care if Meme Coins will take the spotlight. What I care is for the investors that bought on the peak to recover their losses. People do invest to have profit but this current dump is simply intentional so that whales and wealthy groups to accumulate more.

GideonGono

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The market is being polluted by those meme/Shitcoins they are now being advertised too much and newbies are falling for it.
It is hard to choose right now the serious projects are being overtaken by those shit coins and as a trader we do what we must to gain so even if we don't really want those project we would buy it out in order to gain profit,
But you should also know as an investor to choose what crypto you would really support and HODL for the long term.

ene1980

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Quote from: BTC113 on May 23, 2021, 10:46:36 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.

We should not expect the cryptocurrency market to be stable as it is a global market and no one controls these investment and majority of the coins in the market are meme or copied from the source of other coins and yet many were able to reach billions of dollars worth of valuation and when we are in a market like that and it is hard to predict whether these shitcoins will recover or die off after the main correction.

capcaypro

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It is very difficult to find a token that is really valuable these days because there are so many shitcoins that I can say 1:10 or even 1: 100.
looking for really good coins is like looking for a needle in a haystack for now as there are so many shitcoins that exist today.
other than that the pump is insane so much that shitcoin seems very valuable but in fact it is very bad to make an investment in the long term.
for now it is always necessary to be smart and nimble in choosing really good coins. Even if you want to take part in the shitcoin wave it's only temporary because it doesn't guarantee in the long term but for short-term profits with crazy pumps it can still be done

Stanlo

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Quote from: BTC113 on May 23, 2021, 10:46:36 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.

Projects with potential or not have no big difference for investors since what makes many invests in potential projects is still to make big money out of them or probably hold to become big whales in future, I've seen shitcoins bury projects with potential just because investors prefer to invest in the shitcoins over the projects with potentials, investors don't care about potential much

ipanks

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Quote from: BTC113 on May 23, 2021, 10:46:36 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.

The meme coins will end by themselves, no need to thinking much about those coins. You do not have to follow their project as many other projects, which is more potential to increase in the short and long term. Maybe this year will be the year for the meme coins, making many developer-created meme coins to follow the trends. But if the meme coins are just for fun, they will end soon and the new trends will replace the existing trend.

john1010

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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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Crypt-2019
Cryp-2020
Cry -2021

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pealr12

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Quote from: BTC113 on May 23, 2021, 10:46:36 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.

This is a temporary solution to shitcoins being created in every bull circle, even if the bear succeed to purge out most of the shit meme coins created solely for the defi hype, once there is another bull circle more will be created, any new trend also brings along more shitcoins, so you see the solution to erase or wipe shitcoins is temporary.

isaac_clarke22

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Quote from: BTC113 on May 23, 2021, 10:46:36 AM

~

Actually just many but not all.
Elon Musk is hyping one of the memecoins already and it still looks like it doesn't gonna go anywhere and anytime.
Sure those other coins in lower rankings will fade out to obscurity, but celebrities hyping some coins wouldn't until a real bearish market without any celebrity manipulation comes.

Topic: Bear Run and the end of many of the Meme/Sh*tCoins - page 2. (Read 424 times)