Can anyone explain what is the value of meme coins?

JeffBrad12

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Quote from: SistaFista on June 12, 2022, 01:49:09 PM

At the beginning, the value of meme coin usually comes from the community itself.
Later if they have enough value, they will have enough funds to develop their coin use case.
So, the most important thing in meme coin is a community i guess.

I doubt they could truly develops a meaningful use case at all, you see shiba inu, its just following the path of ethereum by creating smart contract blockchain, of course their community think it's a break through but honestly it's nothing special.
other than that is NFT markets that usually frequently being started by these meme coins later into the future, but that's also nothing special at all.
most of the time, meme coins just adding gimmick to their platform and that's it, nothing more.

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you should know that the price of meme coins can go up very drastically even though these coins have no utility. this can happen if there is hype or fOMO created by big people, without those two the price of meme coin will not go up because meme coin has no utility. shiba and doge are the most popular coin memes today and both are suitable for short term investments or day traders, but not all coin memes will have the same fate as shiba and doge because not a few coin memes end up being dead coins. so don't think that all coin memes will provide benefits in the future

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Quote from: JeffBrad12 on June 16, 2022, 06:39:44 PM

Quote from: SistaFista on June 12, 2022, 01:49:09 PM

At the beginning, the value of meme coin usually comes from the community itself.
Later if they have enough value, they will have enough funds to develop their coin use case.
So, the most important thing in meme coin is a community i guess.

I doubt they could truly develops a meaningful use case at all, you see shiba inu, its just following the path of ethereum by creating smart contract blockchain, of course their community think it's a break through but honestly it's nothing special.
other than that is NFT markets that usually frequently being started by these meme coins later into the future, but that's also nothing special at all.
most of the time, meme coins just adding gimmick to their platform and that's it, nothing more.

They will not develop any use case because they are develop or created just for the hype, The owner of it just want to earn easy money that's why we can expect that it will just turn scam once they fool more people to buy and hold their tokens. So this is not advisable token to be bought by anyone especially those newbies want to try some coins to earn because for sure they will just end up being caught off guard and left empty handed once those tokens dumped.

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Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Don't bother thinking about it because the truth is, meme coins don't have utility cases in the market that makes them sustain their value. Unlike established coins, meme coins only increase their value when hyped but when the hype is gone, they all fall down to a useless value. That is why its never safe to invest in them because you can't guarantee how long they can sustain their value and stay in the market, or just disappear instantly because their prices have gone out to zero.

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Quote from: Yamifoud on June 12, 2022, 05:27:48 PM

Quote from: Ziskinberg on June 12, 2022, 05:16:43 PM

Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Utility case is not the only way that meme coins prices will skyrocket, sometimes they are also hyped that makes them temporarily profitable. But knowing that any hype has eventually its end, then that's the time meme coins start to drop and eventually lose their value. This is why meme coins should be avoided in the first place because they're not making us profitable in the long run. Although some have been profiting from them for a short term, but there is also high risks and that anytime you will still end up losing what you all gained.

Hyped projects like meme coins are just ideal for a short-term deal, we can never think they couldn't be able to sustain the competition, they will certainly lose their value. Thinking about Dogecoin as a long and existing meme coin, it is somehow lucky that this project has been supported by a known market influencer, or else, it has been dead already.
Thus, if we want money protection, we tend to stay away from them...there are a lot of potential and long-term investments that warrant a better future.

We must understand that even if we believe ourselves to be perfectly rational that is a lie, the market just like ourselves is irrational, a coin like dogecoin and many other similar coins in theory should not have any place in any market, however people thought back then that it was funny to have a meme coin and backed up, then some people began to see it was possible to make money with it and this is why it remains to these days, however I am not so sure this luck will remain forever and at some point it will disappear.

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Quote from: Ziskinberg on June 12, 2022, 05:16:43 PM

Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Utility case is not the only way that meme coins prices will skyrocket, sometimes they are also hyped that makes them temporarily profitable. But knowing that any hype has eventually its end, then that's the time meme coins start to drop and eventually lose their value. This is why meme coins should be avoided in the first place because they're not making us profitable in the long run. Although some have been profiting from them for a short term, but there is also high risks and that anytime you will still end up losing what you all gained.

Hyped projects like meme coins are just ideal for a short-term deal, we can never think they couldn't be able to sustain the competition, they will certainly lose their value. Thinking about Dogecoin as a long and existing meme coin, it is somehow lucky that this project has been supported by a known market influencer, or else, it has been dead already.
Thus, if we want money protection, we tend to stay away from them...there are a lot of potential and long-term investments that warrant a better future.

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Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

In fact, it has no real value, simply because it was not produced for a specific need or to perform clear functions, because its value has been raised in systematic amplification operations similar to those who carry out awareness campaigns using advocacy tents.

The most important role that these currencies can play is that they are used as trading tools, which is almost the only good reason that can push me to acquire them.

We must not forget that there are many successful examples in this regard.

Ziskinberg

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Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Utility case is not the only way that meme coins prices will skyrocket, sometimes they are also hyped that makes them temporarily profitable. But knowing that any hype has eventually its end, then that's the time meme coins start to drop and eventually lose their value. This is why meme coins should be avoided in the first place because they're not making us profitable in the long run. Although some have been profiting from them for a short term, but there is also high risks and that anytime you will still end up losing what you all gained.

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Quote from: SistaFista on June 12, 2022, 01:49:09 PM

At the beginning, the value of meme coin usually comes from the community itself.
Later if they have enough value, they will have enough funds to develop their coin use case.
So, the most important thing in meme coin is a community i guess.

Memecoin are one thing that brings traders down in Crypto space and makes them lose money. Memecoin is all about the trending coin. Memecoin normally pumps when lunch in the market, the good news about memecoins is that early Investors who bagged the coin when it starts to pump, are normally in big profits thanate investors. When you enter late on a memecoin, the project will dump on you and one will definitely lose money.

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Quote from: nurilham on June 09, 2022, 07:45:37 PM

Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Unfortunately I cannot see the value of this kind of meme coin. They only utilizes the hype of the projects to gain more investors, moreover through the community. Many people are promoting those shit meme coins. any teams are also creating shit meme projects after the rise up Doge coins. I think that now, the basic thing of creating meme coins are none, only hype, utilizing the pump and dump to gain profits for themselves.

That is the only reason those coins keep appearing, people know they do not really have any function, however they also know that a few of those coins may become incredibly popular and as such they keep investing in them thinking that if they invest early they can obtain a fortune, and while they are not wrong the risk they are taking is huge, since there are a lot of meme coins that never gain any support from the community and their price collapses not long after they are released.

SistaFista

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At the beginning, the value of meme coin usually comes from the community itself.
Later if they have enough value, they will have enough funds to develop their coin use case.
So, the most important thing in meme coin is a community i guess.

Teraboy

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its just like gambling, the value was driven out of nothing, there is no underlying innovation that could increase the value either, it's just you're investing some money and think it could grow magically, that's the main reason it was the same under category as shitcoins.
they're literally just being used for making quick bucks and the result is either you're losing or you're making some return of investment, also need to take into account that some of these coins are being manipulated, so you better invest in something else.

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Quote from: rozak on June 10, 2022, 02:50:35 AM

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Meme coins like this usually occur due to betting and there is also hype and their value will not last long, then we find it difficult to know the price that actually happened, then not all meme coins we can rely on, because their value can drop drastically in a short time and will be ash forever, not everyone is lucky by investing in meme coins then if you don't want to take the risk just skip it.

Even if the pumping is for a while, it is usually done by their team to make the price go up. can even make a pump when the price of BTC drops.
Their market capitalization is not very large. and market movements are still very risky. it could be a decline that occurs very quickly after you place a buy order.
but it looks like the hype of meme coin is over. I don't see it as strong as it was earlier this year.

I agree, memecoins were a thing during the Elon Musk period when he pumped doge, and even participated in some pumping of shiba as well, but that was it. Hell people literally created a token after the DOG Elon has, which is a SHIBA type dog, named floki, so there is a floki token as well.

Imagine how further we have come in the meme world, we are literally naming the coins with the name of the shiba which is the main type of dog in doge memes. It was a thing back in the day, and maybe it is still going on right now, but at the end of the day people are not as much hyped about it as they used to be and that matters a lot for everyone involved.

andyou1234

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It is very difficult to explain how the value of memecoin is, but what is certain is that its growth depends on the hype which only lasts for a while, where volatility and fluctuations are very easy to manipulate by certain people, if you are a beginner and want to invest in crypto it is best to choose a coin that has strong fundamentals and capitalization so it has a great opportunity to be able to give you profits in the future.

Iyeman

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Meme coin in a nutshell is just a coin full of manipulation where the volatility and fluctuation is rather high, that's why it attracts many traders.
some people think they could outsmart the market manipulation and making money off it meanwhile in reality that's not true at all, considering the fact that the ones that initiated manipulation of memecoins usually ended up with humongous profit.
so basically if you want to keep your investment safe, don't invest in meme coins.

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Quote

Dogecoin is Elon Musk's coin. He is very cunning and did not want to create his own coin. He and his team spent several years buying these coins very cheaply to get most of the coins. And no one knows what will happen to this project when Elon Musk gets tired of his toy.

Doge could easily be manipulated by Elon Musk before but lucky are those who rode with the trend and took profit from what he did. Elon used his popularity to manipulate the said coin but things won't last since people already know his strategy. Now that he has his platform, I'm sure that he still has lots of coin manipulation plans in the future but we must be skeptical because most of his plans will only benefit his business.

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Quote from: zasad@ on June 10, 2022, 10:04:42 AM

Quote from: CaVO32 on June 10, 2022, 09:42:48 AM

Quote from: bounceback on June 10, 2022, 09:26:11 AM

Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Most meme coins experience price spikes that only last a short time and usually this will happen after a FOMO by a celebrity or public figure so some people are afraid to miss the train if they don't buy the meme coin, but once people who enter early have managed to take advantage they will throw it away with a large amount it will cause the price to go down again basically because so far there are no fundamentals of the meme coin that can help maintain its price.

The meme coin that I know which evolved to be a useful one before this meme hype, is doge. Even before this hype, doge was already used by many gambling platforms and you can find it basically in most trading platforms. I used to use this before for transfer purposes because the fees were cheap but when this meme hype took over, the fees are quite expensive as compared to other alts like LTC. With respect to other meme coins, I don't see anything valuable that can provide them longevity on this market. Once people are done with meme, they can easily die down without being noticed. So if you want to invest long-term, consider first btc and other top alts with actual usage in this community.

Dogecoin is Elon Musk's coin. He is very cunning and did not want to create his own coin. He and his team spent several years buying this coin very cheaply in order to get most of the coins. And no one knows what will happen to this project when Elon Musk gets tired of his toy.

In fact, the future of doge is also bleak as we all know doge is an age-old meme but there wasn't any hype surrounding it until Elon mentioned doge. We don't know what Elon's real purpose is, whether he really loves Doge coin or he just takes advantage of it to enrich himself and then throws it away when it's no longer worth using. If that happens, I think it's a tragic end for the doge.

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Quote from: CaVO32 on June 10, 2022, 09:42:48 AM

Quote from: bounceback on June 10, 2022, 09:26:11 AM

Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Most meme coins experience price spikes that only last a short time and usually this will happen after a FOMO by a celebrity or public figure so some people are afraid to miss the train if they don't buy the meme coin, but once people who enter early have managed to take advantage they will throw it away with a large amount it will cause the price to go down again basically because so far there are no fundamentals of the meme coin that can help maintain its price.

The meme coin that I know which evolved to be a useful one before this meme hype, is doge. Even before this hype, doge was already used by many gambling platforms and you can find it basically in most trading platforms. I used to use this before for transfer purposes because the fees were cheap but when this meme hype took over, the fees are quite expensive as compared to other alts like LTC. With respect to other meme coins, I don't see anything valuable that can provide them longevity on this market. Once people are done with meme, they can easily die down without being noticed. So if you want to invest long-term, consider first btc and other top alts with actual usage in this community.

Dogecoin is Elon Musk's coin. He is very cunning and did not want to create his own coin. He and his team spent several years buying this coin very cheaply in order to get most of the coins. And no one knows what will happen to this project when Elon Musk gets tired of his toy.

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Quote from: bounceback on June 10, 2022, 09:26:11 AM

Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Most meme coins experience price spikes that only last a short time and usually this will happen after a FOMO by a celebrity or public figure so some people are afraid to miss the train if they don't buy the meme coin, but once people who enter early have managed to take advantage they will throw it away with a large amount it will cause the price to go down again basically because so far there are no fundamentals of the meme coin that can help maintain its price.

The meme coin that I know which evolved to be a useful one before this meme hype, is doge. Even before this hype, doge was already used by many gambling platforms and you can find it basically in most trading platforms. I used to use this before for transfer purposes because the fees were cheap but when this meme hype took over, the fees are quite expensive as compared to other alts like LTC. With respect to other meme coins, I don't see anything valuable that can provide them longevity on this market. Once people are done with meme, they can easily die down without being noticed. So if you want to invest long-term, consider first btc and other top alts with actual usage in this community.

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Quote from: Andrik Viate on June 02, 2022, 04:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Most meme coins experience price spikes that only last a short time and usually this will happen after a FOMO by a celebrity or public figure so some people are afraid to miss the train if they don't buy the meme coin, but once people who enter early have managed to take advantage they will throw it away with a large amount it will cause the price to go down again basically because so far there are no fundamentals of the meme coin that can help maintain its price.

Topic: Can anyone explain what is the value of meme coins? (Read 526 times)