I read this news yesterday about someone going from $1000 to $100K. That's crazy.
I'm sure he gambled like a gamble with $1000 on a meme coin that he was probably ready to lose but who would have thought because of the hype on Solana that this token increased 100x and it's hard to imagine how this happened so it can be said that he was very lucky to put a coin on the right meme coin during the hype.
Who here is willing to risk $1000 just like gambling on meme coins? I think I would think twice, but that person probably has so much money that $1000 is nothing if it's lost, for us it's quite big and we wouldn't be able to do it because of the high risk.
Topic: Craze for Meme coins never ends? - page 5. (Read 749 times)
He probably has everything it takes to take the risk of investing in a meme coin just because the logo was cute. There are only a few people who can probably do that because most of the people who invest in meme coins are being invited by someone they know and getting influenced by the possible earnings they can get if it pumps.
Investing in cryptocurrency projects is very risky and we need to take proper calculations so that we don't end up putting money on the wrong projects. There are many meme projects in the market we can make money from without much time. The way meme project are skyrocketing these day is very amazing. The little bull market that bullishly shoot Bitcoin to $44k was responsible for the bullish move of meme coins in the market. There are profits to be made so we must be ready to take risks in the market. DR; That can be a made-up story to get more attention to that meme coin. But I also know stories like that are the same in the past that are genuine. I have no guts unlike this guy to invest $1k in meme coins. He probably has this money as spare and willing to lose. Who's going to invest in unknown meme coins? Well, anyway this season is like whatever you buy seems goin' to make you money even with random meme coins. Still, I'd play safe and won't do this.
Exactly what I see here mate, because random people claim to be earning this and that but ended nothing but a made up stories, how many of this have we seen over the years even in ICO/IEO times
this is happening , this is also the reason why I never trust any Memecoins now aside from Dogecoin and
Shiba-Inu that i have vested recently but take out my coins now.
It is common with altcoin that occasional they show huge pump and invested amount of all holders expands but such situations are not guaranteed always. Due to FOMO crypto users often selected such coins but they become disappointed when they see their money lossing its value as the time goes.
If you invest in meme coin then either you loss whole money or the Meme coin coin be visible as a high demanded coins which furnish high yield. It is correct information that putting money into meme coins is just like a gambling which win or loss is just unforeseeable. If you are looking towards a coin in which you can earn money then don't put your money in meme coin but bitcoin will intensify the avail through investment.
If you invest in meme coin then either you loss whole money or the Meme coin coin be visible as a high demanded coins which furnish high yield. It is correct information that putting money into meme coins is just like a gambling which win or loss is just unforeseeable. If you are looking towards a coin in which you can earn money then don't put your money in meme coin but bitcoin will intensify the avail through investment.
This is not the first time it happened but for so many meme coins exist or continuously launched by devs we don't know on which of them will pump the same with other meme coins since for sure investor doesn't know on which are the tokens could possibly bring them a lot of profit the same of what OP highlighted on the topic.
Absolutely, it is a pure gamble but with little bit of insight and analysis there is less chance to predict the outcome of it for the short term and that is what some bump and dump investors try to succeed and its not really for everyone and this shouldn't be a primary focus for the retail investors.
It's good to see how people get 100x unexpected completely out of blue but it doesn't show the devastation which is followed because whenever we see any meme or shit coin growing 100x in value we see people flock in to invest on those coins like sheep and end up losing it all. It's pure gambling I would like to stay away as already learnt the lesson hard way and I suggest others to avoid investing any particular meme coin just because someone got lucky. Before investing into meme coin just check the total number of meme coins and how they have fared till date.
Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.
This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.
To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat
This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.
To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat
To lucky for him to earn a lot from what he think got a cute logo but this incident will not always happen to anyone. Maybe he's just lucky at that time but for sure he would provably take a hard time to seek for another token that can give him the same profit.
That's why we should not easily believe on this since each result will be different since its hard to follow what those people earned especially if these coins usually come and immediately go once they already take a lot of money from people invest on their platform or tokens.
This is not the first time it happened but for so many meme coins exist or continuously launched by devs we don't know on which of them will pump the same with other meme coins since for sure investor doesn't know on which are the tokens could possibly bring them a lot of profit the same of what OP highlighted on the topic.
People like the OP describes in his post are really lucky & I am happy for him. The problem is, people read the story in the media or whatever & think it’s easy for them to do the same. The fact remains that the guy described is in the minority. It’s like playing pin a tail on the donkey blindfolded sometimes trying to find a memecoin that does well. There are so many & sadly more people lose money than make big money.
That could also be a reason why we see such random stories on the internet, get more traction towards a project in creative ways but as an investor its our responsibility to assess the potential gains and if $100 is worth to lose for someone then they can buy 5 different shit coins for each 20 and if atleast one of the five hit then the returns could be 2000 but it doesn't mean there is any chance that 1 of the project will become successful even if we invest on 5 different projects.
He probably has everything it takes to take the risk of investing in a meme coin just because the logo was cute. There are only a few people who can probably do that because most of the people who invest in meme coins are being invited by someone they know and getting influenced by the possible earnings they can get if it pumps.
I envision two possibilities in this case. Either the person was really very lucky and he guessed the growth of the value of this coin, or he had insider information about the rate of this coin. I also do not exclude that this person was from the development team of this coin.
Much better to take risk buying memes on bullmarket than making perp trades without knowing the risk of being liquidated, I remember some shib stories from millionaires like one investor bought shib cost $8000 and later turned into million dollar in value after some months. It might happen again in new memes like Pepe and Bonk so you cant ignore that many of us hoping to make huge profits from this meme craze.
I wish I also write success story here. I am not lucky with meme coins. I made 25x-20x from meme coins only one or two time. I heard this token name first time and risk takers already made a history. I mostly busy with trading in centralized exchange and Meme tokens initially list in dex. The next meme coin maybe on Avax network which is also getting hype.
People like the OP describes in his post are really lucky & I am happy for him. The problem is, people read the story in the media or whatever & think it’s easy for them to do the same. The fact remains that the guy described is in the minority. It’s like playing pin a tail on the donkey blindfolded sometimes trying to find a memecoin that does well. There are so many & sadly more people lose money than make big money.
I do not like clickbait titles, as they give attractive titles, but we cannot verify whether the story is true, whether it is an indirect advertisement, or their desire to get more views. People love stories about a person buying a lottery ticket and winning, or that a person without effort landed a million. dollars, but the reality is not like that. You must work to get money, but you do not need to work hard to earn it, but rather work smart.
If it is possible to raise money quickly, calculated investments in high-risk assets may be the solution, but memecoins are closer to gambling than investment.
If it is possible to raise money quickly, calculated investments in high-risk assets may be the solution, but memecoins are closer to gambling than investment.
DR; That can be a made-up story to get more attention to that meme coin. But I also know stories like that are the same in the past that are genuine. I have no guts unlike this guy to invest $1k in meme coins. He probably has this money as spare and willing to lose. Who's going to invest in unknown meme coins? Well, anyway this season is like whatever you buy seems goin' to make you money even with random meme coins. Still, I'd play safe and won't do this.
Exactly what I see here mate, because random people claim to be earning this and that but ended nothing but a made up stories, how many of this have we seen over the years even in ICO/IEO times
this is happening , this is also the reason why I never trust any Memecoins now aside from Dogecoin and
Shiba-Inu that i have vested recently but take out my coins now.
This can be unarguably possible as I have seen something like this but never had the guts to pertake as per the greater risk involved.
Memecoins are mainly built to give this kind of huge returns within a very short time, just that many people are consciously backsliding from investing their money into it because of the risk of loosing the money. I'm sincerely happy for him, he removed fear and took the risk and it did pay off. I'm sure he had enough before investing that amount because it was a 50/50 chance. So, it is advisable to watch what you have and make investment on what you can bear the pain of loosing
After this kind of wave this memecoin has made, you see more people going to invest in it and it becomes where the project team will decide to rug the project very hard for this memecoin to last in the market.
Memecoins are mainly built to give this kind of huge returns within a very short time, just that many people are consciously backsliding from investing their money into it because of the risk of loosing the money. I'm sincerely happy for him, he removed fear and took the risk and it did pay off. I'm sure he had enough before investing that amount because it was a 50/50 chance. So, it is advisable to watch what you have and make investment on what you can bear the pain of loosing
After this kind of wave this memecoin has made, you see more people going to invest in it and it becomes where the project team will decide to rug the project very hard for this memecoin to last in the market.
Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.
This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.
To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat
Is that person selling his coin already? Because if not, he can never expect such a trend to come back, not anymore. Hype project just rises in no specific time but they drop forever. If we miss selling them during its peak, we can no longer expect to rally back anymore, it was a normal condition on altcoins. This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.
To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat
Meme coin price manipulation remains but the question is if people are still buying them. Or they ignored it because of the risk and huge possible losses. Now, we can see the investors are getting smarter, they've learned already, and no matter how these meme coin creators do, that won't change their market insights, still they are shitcoins.
Yep, this is not the first time, but we all understand the risk of participating in memecoin, someone can gain x100, and conversely someone can lose their money completely.
The way many people only like to talk about profits in an unbalanced way is part of the reason it can be easy to attract, because we can't avoid greed and are easily swayed by FOMO about things we like. It obscures our sanity. I also went through many different levels of emotions with memecoin, what I concluded was that I was only willing to spend money that I was willing to lose completely like gambling. It doesn't need complicated analysis. Colorful doesn't mean much, because it's a memecoin itself and doesn't have much applicability, so don't get too complicated about your expertise in the field.
The way many people only like to talk about profits in an unbalanced way is part of the reason it can be easy to attract, because we can't avoid greed and are easily swayed by FOMO about things we like. It obscures our sanity. I also went through many different levels of emotions with memecoin, what I concluded was that I was only willing to spend money that I was willing to lose completely like gambling. It doesn't need complicated analysis. Colorful doesn't mean much, because it's a memecoin itself and doesn't have much applicability, so don't get too complicated about your expertise in the field.
Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.
This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.
To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat
To answer your question, the interest in meme coins will never disappear and this is because that is just how people are, people will always have an interest in improving their current economic circumstances, to do so as fast as possible and to employ as little time and effort as they can.This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.
To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat
And as you can probably guess investing in meme coins could in theory fulfill all of those conditions, so meme coins as much as some of us may dislike them will remain with us probably as long as this market exists.
but you will never see Coindesk write about the countless people who lose money investing in these risky tokens.
They will do if someone pays for them to write their story cause more of the articles are sponsored contents so they are not going to give a damn unless it is beneficial for them.
About all other points you mentioned which are true, it is the perfect commodity for bump and dump and fortunately, if the coin has media attention then early investors are going to make a hell lot of money.
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