coin memes don't have a project? Is it worth buying for the long term? - page 4.

tsaroz

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

As far as I know, meme coin are just for fun and don't have a clear project.
Dogecoin is the first meme coin that I know, in 2021 Elon Musk supports the use of Dogecoin, since then the popularity of meme coin has peaked, many new meme coin have emerged such as
- Shiba inu
- floki
- Baby doge coin
- Pepe
and many more.
Even though there is no clear project, many people are still interested in meme coin because they have increased by thousands of%.
Are meme coin worth buying in the long term?
What is your reason for buying meme coin?

Meme tokens are like viral videos, they come at spotlight and goes and years down the path they make come to spotlight again.
Dogecoin is an exception, being one of the pioneer coin, they were already popular but due to their unlimited supply, they were loosing price. But the grace from Elon Musk made them rise again. There came different coins like Shiba Inu and PEPE that received relative success and are still trying to recover.
They could be used for short term investment or swing tradings, but they don't make a long term investment coin.

Mate2237

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Dogecoin has spend years in the cryptocurrency ecosystem world yet it has not not reached a dollar in the market and that is not too good in the industry. And with this we have to consider two things before investing in meme coins. Since it takes time to add value in their market cap then it is not good to invest and if you must invest then prepare to stay with the investment for decades of years. And secondly, since the coins takes years to grow then it is not also good to invest in a short time because nothing will come from the investment.

But you can just keep small amount of money in anyone you know that can do well in the future. There are many meme coins that have collapsed so if you are investing then be careful. There are some that is still far from 1 dollar. Even 10 years to come, they will not reach one dollar and if care id not taking those ones will collapse from the ecosystem.

TelolettOm

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

Even though there is no clear project, many people are still interested in meme coin because they have increased by thousands of%.
Are meme coin worth buying in the long term?
What is your reason for buying meme coin?

After the hype of Doge coin, it cannot be denied that the rise of meme coins is truly very significant. Many coin memes have emerged, even this year they are still appearing a lot. And most of them will always experience hype in the market and eventually many people will enter there. The price increases are sometimes very fantastic, allowing some investors to get very high gains.

But on the other hand, there are also many people who experience huge losses as a result of investing in meme coins. Maybe even more people suffer big losses, especially beginners in the crypto world. Because, the risk of investing in meme coins is very high.

That's why, when it comes to new meme coins other than Doge, I'm not sure if they can survive and are worth long term investment. This seems like something that carries a very big risk. Maybe most people believe that Shiba Inu can become like Doge, yes, maybe. But for low-risk takers, it's better to avoid long-term investments in meme coins.

Makus

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Quote from: libert19 on December 01, 2023, 04:17:31 AM

Meme coins are useless and they have no long term prospects. One thing good about them is that they are honest with the fact that they are useless.

What Musk did to Doge coin was manipulation.

Although, I accept I have used Dogecoin often due to it's minimal transaction fees, but that's all there is to it.

I am in support of your statement that musk manipulated the Doge coin, normally we all all can attest to the fact that without his influence in the coin, doge coin wouldn't have gotten to where it is right now, mr musk acted as a catalyst to help the adoption of the. However I am not in support of holding what I don't like, and altcoin in general is never my thing, I prefer my patience in bitcoin after all, we have been experiencing an increase in the price of bitcoin and this is good one to start with before the halving and then the bull run. I would confess that meme coin can be some time tempting to invest in, the profit most of them give is sometimes not comprehensible, while most of them still tend to make their investor cry of pain from loss.

Silberman

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Quote from: Dr.Osh on December 01, 2023, 12:08:04 AM

the reason I bought meme coin was that I only took advantage of short-term profits. I think most people do the same thing. Apart from that, I feel that meme coin is not worth holding for a long period of time, because the risks are very large, especially in large amounts. However, there are some people who are holding some meme coins, and hope that the price will go higher. However, they only hold popular meme coins such as Doge, Shiba, and others.

As long as you are aware of what you are doing speculating with meme coins could be a good move, but for what I can see there are not many people that take seriously enough the possibility of losing money while trading those coins, they only think about the positive outcomes that could come to happen, without ever thinking about all the difficult scenarios they may have to face and not realizing how much more likely it is for this to be the case.

libert19

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Meme coins are useless and they have no long term prospects. One thing good about them is that they are honest with the fact that they are useless.

What Musk did to Doge coin was manipulation.

Although, I accept I have used Dogecoin often due to it's minimal transaction fees, but that's all there is to it.

Dr.Osh

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the reason I bought meme coin was that I only took advantage of short-term profits. I think most people do the same thing. Apart from that, I feel that meme coin is not worth holding for a long period of time, because the risks are very large, especially in large amounts. However, there are some people who are holding some meme coins, and hope that the price will go higher. However, they only hold popular meme coins such as Doge, Shiba, and others.

AnonBitCoiner

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Memes coins are not always fun but they become a real asset to give profit to its users. All those who have not sell their meme coins in previous bear market are wise because some of them like doge will make its holders profitable during market boosting price in future. It does not mean that if certain coins are less valuable will always remains same but most of shitcoins become profitable in future but only those will get reward who are know that better days always comes and bad days never present always. While trading meme coins cannot give you profit but if you hold it for few years then may be your profitability become sure in future.

jrrsparkles

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

As far as I know, meme coin are just for fun and don't have a clear project.
Dogecoin is the first meme coin that I know, in 2021 Elon Musk supports the use of Dogecoin, since then the popularity of meme coin has peaked, many new meme coin have emerged such as
- Shiba inu
- floki
- Baby doge coin
- Pepe
and many more.
Even though there is no clear project, many people are still interested in meme coin because they have increased by thousands of%.
Are meme coin worth buying in the long term?
What is your reason for buying meme coin?

Let me put that into a picture so you will understand it better, investing in a cheap meme coin is like buying a rock for a few bucks and expecting it to have a gem inside it when we cut it.

Definitely, it is possible to find a natural gem inside a rock but the probability of finding is like 0.00001% so all you can expect is to invest and the project to grow bigger.

yazher

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I think if you have the guts to do so, why not? after all these kinds of coins are not your ordinary investment because you need to be active when it comes to the right time to sell them and earn some decent profit. If you miss that opportunity, your only chance to recover your capital is if the meme coin you invested your money with is a successful coin in the future, because if it's not then you also lose your money by missing the right time to sell it.

Mpamaegbu

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

As far as I know, meme coin are just for fun and don't have a clear project.

Well, easier said than done because not everyone will understand it that way. I didn't. In 2021 I bought Safemoon and Moon Rat or so and both did extremely well. Gave me an unimaginable ROI but I didn't take profit when it did. I expected more and before I could say Jack, the whole thing vapourized into thin air. I learned from that sad experience to steer clear of memecoins. That was a sad experience.

Quote

Dogecoin is the first meme coin that I know...

I still don't classify Dogecoin as a memecoin. I'm cocksure that those who do haven't used Dogecoin. If they do, they would discover that Doge has utility as a payment coin and its swiftness of transaction is high speed. Not even Bitcoin in its period of fast confirmation comes any close to it.

southerngentuk

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Investing without understanding the asset is like walking into a dark room without a flashlight. You may stumble upon something valuable, but you are more likely to trip over obstacles or make costly mistakes.

Relying solely on the opinions of others, without conducting your own research, is a recipe for disaster. While seeking advice from experienced investors can be valuable, it should not replace your own independent analysis.

Investors should conduct thorough research to grasp the fundamentals of the project, its goals, its team, and its market potential. This research should involve evaluating the project's whitepaper, roadmap, and community engagement. It is also essential to assess the project's competitive landscape and identify its unique selling proposition.

Kelward

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

Even though there is no clear project, many people are still interested in meme coin because they have increased by thousands of%.
Are meme coin worth buying in the long term?
What is your reason for buying meme coin?

I don't think that they're worth buying for the long term because you're not certain of them still being valuable by then. It's best that when you take your chances in buying into them, and you make profit in the short time, then it's better to minimize your risks by moving on, maybe take your chances again in another one. There's unfortunately no good tales about meme coins in the long run, so get what you can and move on. If I want to do long term in cryptocurrency, it'll have to be bitcoin, because it has proven it's worth in the market. Apart from bitcoin, if I feel like doing long term, it'll be a top altcoin like ethereum, and my reason is same as bitcoin, because it's also proven it's worth in the crypto market. Personally I like to minimize my risk when it comes to crypto long term investments, I can only go for tested coins, even if they're returns are not as high as the promises of none tests coins.

lienfaye

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

Are meme coin worth buying in the long term?
What is your reason for buying meme coin?

Investing in meme coins are quite risky. Because unlike established coins, meme has no real use case and just relying on hype. If the particular meme is popular and has many investors, people who are looking for quick profit are tempted to also join the ride.

Moreover it's not good for long term because you'll never know if it still has a value after few weeks or even months after buying it. If you're interested then go for Doge or Shiba and not the ones who just launched recently with still a cheap price. But be aware of the risk and always apply the basic rule to only invest the amount that you can live without.

Silberman

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Quote from: danherbias07 on November 26, 2023, 09:34:10 AM

I am done with these meme coins. I bought Shiba Inu before it rode the hype and then I sold it at x2 and thank God I did that because after that it was a declining mess. Now, I suggest to do the same if I were you. But them, sell them quickly if you see profits, and then let go.
Don't fall in love with coins that you already know with no projects behind them. You are just going to mess up your capital and maybe you will regret it someday. All I am saying is, that I don't think they are must-bought coins that are for keeping as an asset like the ones on the top. It could be a waste of money, time, and effort researching about them while you will get dust in the future.
There are so many choices out there, why stick with meme coins? Just because they entered the hype doesn't mean their trustworthy to keep, there are a lot of projects that went through the same and yet they are buried now.

Those which are enthusiastic about meme coins often point out to dogecoin as a meme coin that can be held for the long term, and this fuels their hopes that the coin they are holding becomes just like dogecoin, but they forget that dogecoin is not just a meme coin, but the original meme coin and the one that started that market, so it makes sense that as long as there are speculators willing to take the risk of investing in those coins they may keep some of their money on dogecoin, and while I would prefer those people gave up completely on those coins, they should at least give up on the idea of investing on those coins for the long term.

icalical

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Not in long term, tho some memecoin expanding their project and finally found utilities for their coin, but most of memecoin never has utilities and never solve any problem, so their value relies on the community loyalty. For short term you could speculate and 'bet' your money but for long term, it is very risky.

redsun114

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I would say that a person shouldn't make the mistake of buying a bunch of meme coins with their capital hoping that they will gain a lot of value and they will become rich because that only happens to a few lucky people, it's like winning a jackpot in gambling which is extremely rare and not everyone can get it even after spending so much money on gambling, investing in meme coins and hoping for high returns is exactly the same thing but people don't understand this simple fact.

They don't have any projects backing them up, they don't provide any utility to their holders, and they have no organic growth potential which means that they will only gain value if they are hyped up by the community and then people start investing because everyone wants a share of those high profits.

Yatsan

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Quote from: terizla on November 26, 2023, 03:55:09 AM

Meme coin is very high risk than Altcoins and Bitcoin.
If want to buy with small amount i think Shiba Inu and Dogecoin is good because many good market list that coin.

Every crypto has its own risk whether it is a memecoin or not sinply because cryptos' market price are volatile by nature. But with meme tokens as concerned for long term investment, I'm not quite sure whether it would be best for such investment technique given that most of the meme tokens has no utility to sustain the demand for it. Also token supply is huge which could also be a factor to lesser demand. But this is not to close the door for memecoins. If there will be further developments tackling issues and potential problems, then for sure it would become a better option than its current image. Right now, memecoins are no doubt good for short term investment due to high volatility in its price.

danherbias07

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I am done with these meme coins. I bought Shiba Inu before it rode the hype and then I sold it at x2 and thank God I did that because after that it was a declining mess. Now, I suggest to do the same if I were you. But them, sell them quickly if you see profits, and then let go.
Don't fall in love with coins that you already know with no projects behind them. You are just going to mess up your capital and maybe you will regret it someday. All I am saying is, that I don't think they are must-bought coins that are for keeping as an asset like the ones on the top. It could be a waste of money, time, and effort researching about them while you will get dust in the future.
There are so many choices out there, why stick with meme coins? Just because they entered the hype doesn't mean their trustworthy to keep, there are a lot of projects that went through the same and yet they are buried now.

justdimin

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Quote from: GAM ACHEH on November 22, 2023, 08:31:07 AM

Even though there is no clear project, many people are still interested in meme coin because they have increased by thousands of%.
Are meme coin worth buying in the long term?
What is your reason for buying meme coin?

Before yes, meme coin is supposed to be for fun, but that have changed later on. Many meme coin creators have started to take it seriously. Either they try their best to grab money from their investors, or try their best to deliver a good working project and still hope to earn a decent income with it. On to your question if meme coins are worthy to buy?

Well, it depends on what type of meme coins they are, or if what is our goal. If we are only doing it for fun, then it can be worthy to invest on the original meme coins. Maybe they can also have the potential to rise, but that was only a bonus to us. For those who are serious of earning money, they can also prioritize it.

Topic: coin memes don't have a project? Is it worth buying for the long term? - page 4. (Read 1083 times)