Topic: Craze for Meme coins never ends? - page 6. (Read 749 times)
Meme coins are perfect for pumping and dumping. They get lots of initial hype due to being named after popular trends and memes. They always have a massive circulating supply which makes them very cheap for speculators to acquire. It will be possible to make a good profit early on when they are really volatile but very few will have lasting power. The majority die off quickly but you will never see Coindesk write about the countless people who lose money investing in these risky tokens.
Not only meme, but the user (gambler is never end)
Most of user who are invested / trading, almost similiar like (gambler) just a degenerated people who are trying profit and getting greed. Especially people who are brave enough to put their money on (MEME).
They want gamble the money, and hoping some luck for profit.
Most of user who are invested / trading, almost similiar like (gambler) just a degenerated people who are trying profit and getting greed. Especially people who are brave enough to put their money on (MEME).
They want gamble the money, and hoping some luck for profit.
This is how investors fall into this trap by mainstream media, people will now read this article and think that meme coins can make their dream of financial independence come true. They will now start investing in meme coins not realizing that only a few can make such gains, after losing their investment they will go out and talk negatively about cryptocurrencies. It is a never-ending cycle of deceit and scammers are the first to utilize this opportunity. They would create fake smart contracts of the trending meme coin to which a few intellectuals would invest and lose their money.
only 1 out of thousands that invested gonna be turning their money into that massive amount after all meme coin is just a zero sum game, you expect other to lose as your exit liqudiity and definitely everyone can't get profit at the same time.
recently its BONK that have increased massively, you can say that meme coin never ends with its trend, every bullrun there appear some random meme coin that somehow increase in price so high everyone that randomly holds it get massive profit but thats it. also, altcoins that are not meme coin honestly are also doing the same thing, like ORDI it was valueless back then now it priced so high.
so basically its not just meme coin that can make you earn much more profit, every altcoin have the possibility and whether or not you gonna make profit depends on your action whether to accumulate, the only thing that you need to watch out for with meme coin is the possibility of it being manipulated.
recently its BONK that have increased massively, you can say that meme coin never ends with its trend, every bullrun there appear some random meme coin that somehow increase in price so high everyone that randomly holds it get massive profit but thats it. also, altcoins that are not meme coin honestly are also doing the same thing, like ORDI it was valueless back then now it priced so high.
so basically its not just meme coin that can make you earn much more profit, every altcoin have the possibility and whether or not you gonna make profit depends on your action whether to accumulate, the only thing that you need to watch out for with meme coin is the possibility of it being manipulated.
As long as there is somebody telling a story of how they got rich easily, there will be people willing to try it for themselves. The entire meme coin industry seems built upon the back of the greater fool theory, so I've never jumped into that pool personally, but I do know quite a few people who got involved with crypto after wading into the pool with dogecoin. Elon Musk seems to have generated quite a few crypto people with his involvement and promotion of dogecoin. Hopefully we can see him promote Bitcoin by getting Tesla to start accepting it again soon.
Maybe it’ll eventually die, maybe it won’t. But I think people like it anyways. I’ll be honest though, I think that some people only deal with it because based on historical events with “Memecoins”, people have turned millionaires overnight. So they are trying their luck to know if their story will change too. Just like you mentioned, someone made 100x from a meme coin I’ve never even heard the name before. What do you think people will do? They’ll want to invest and be like not just the other guys, but like this guy too.
Meme coin stories like this is like the lottery. You will hear about these often but what you don't hear about is the loses. Mlre often than not people lose money in these things. Meme coins were a trend in 2020/21, you can bet it will fade at some point. There is no purpose for these projects or tokens so it's all empty air driven by greed. Be weary
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.
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
Jump to: