Topic: Meme coins have no use case - page 2. (Read 664 times)
The main point of meme coins are mems, cmon is stated right in their name. Of course they dont have use cases
Still wondering why people trusted Elon Musk so much and started buying dogecoin, in a couple of months crypto investors went from investing in projects with real use case to investing in meme coins and so many people got burned for it, buying a meme coin makes no sense to me honestly, meme coins are for fun nothing more, there's no incentive for it to pump aside people shilling it, I would rather buy a coin that has a real use case than investing in any meme shitcoin.
I think is too risky to invest in meme coin, and that's all.No use case? I don't think so, does Dogecoin no use case? As long as the consensus of meme coin is strong enough, it may also be used for payment, but is very very hard i think. By the way, i don't think those are named technical coins have any use case, for example, eos. In a word, i don't suggest buy meme coin just because of the risk is too high.
Dogecoin becomes successful after it influenced by Elon Musk and other rich people but Doge coin Exists here aor almost a decade now, then why suddenly it becomes useful?If someone don't know the fact, I just want to mention that the actual developer of Doge sold all his coins a very long time ago but its still in the circulation due to the bump and dump.
Looks like it turned out right for Meme coins, market is very bearish right now for Meme coins.
Considering only to buy a useful projects has better chances and potential.
Considering only to buy a useful projects has better chances and potential.
Yeah thank god the hype about meme-coins without any actual use-case seems to die out slowly at the moment and rightfully so. I have always been of the opinion that this sudden hype about meme-coins that started 2 months ago or so was very harmful for the whole crypto space and at least in my opinion also one of the main reasons why we the market started to dump in mid may. I mean one or two new meme-coins are hurting nobody but during the peak of the meme-coin hype there were dozens of those coins coming out every single day and many of them had tradings volumes of 10M$ and even way more.
Indeed, most people who invest in meme coins do not plan for the long term, they just want to feel the profit from the hype that occurs
in meme coins. It's not healthy and it's best to avoid investing in meme coins, because the risk is very big. If we are late selling the price
at the peak to recover it may take a relatively long time, or we can make the wrong decision, finally buying meme coins at the peak price is
also not a good thing. There are so many risks that can occur when we invest in meme coins, because from the beginning, meme coins did not
have a clear use.
Meme coins are similar to altcoins. You can not classify all altcoins are good, bad or scam. They are very different in quality and the teams created those coins and develop them are important.in meme coins. It's not healthy and it's best to avoid investing in meme coins, because the risk is very big. If we are late selling the price
at the peak to recover it may take a relatively long time, or we can make the wrong decision, finally buying meme coins at the peak price is
also not a good thing. There are so many risks that can occur when we invest in meme coins, because from the beginning, meme coins did not
have a clear use.
I agree most of meme coins are useless because they have no usecase, no real company behind and no development plan. Fortunately, you always find some scarce cryptocurrencies, meme coins that have real and legit teams, trusted companies behind.
Today I saw that meme coin, Eloncoin, and I believe that it is a legit meme coin. It is created by lightlord or his team. Lightlord is the owner of two gambling sites, Bitvest and 777coin. You can think that coin will be used on those casisnos.
[ANN][EMC] Eloncoin - Mars, here we come!! 🚀 - POS Energy Efficient.. You can get airdrop in Discord.
I think is too risky to invest in meme coin, and that's all.No use case? I don't think so, does Dogecoin no use case? As long as the consensus of meme coin is strong enough, it may also be used for payment, but is very very hard i think. By the way, i don't think those are named technical coins have any use case, for example, eos. In a word, i don't suggest buy meme coin just because of the risk is too high.
When crypto shows its true potential, Meme coins won't play a big role anymore.
what true potential . is it when the price pump ? but your forgetting that when btc pumps , other coins including meme coins can also be dragged upwards . they wont lose their shine that way but that doesnt define a big role . meme coins role are only for easy profit and once your done you can dispose them but real cryptos is the one that has a big role .
hero member
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I do not know if meme coins have a use case or not, but meme coins are just for fun, and if you can make a profit from those meme coins, that will be good. Like what happened with Dogecoin, it is a meme coin, but Dogecoin can survive until now and suddenly, the price can increase. It makes developers attract to create similar meme coins and they hope that their coin can follow Dogecoin.
Very well said, I can't agree more. IMHO, meme coins hype was only a dynamics in the crypto world. It's for sure can tone up the market a bit and invite more people to know about cryptocurrencies. But we can't let people lull by it and create many victims because of that because if we let it for too long, it's not impossible that the crypto world would be known as a pump and dump scenario without any further utilities or technology behind it. This is so dangerous for the crypto future. Let's be wise for the longevity of the crypto sphere.
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But most of it are all from hypes, or am I missing something here? Like how would even one get its use if the true purpose of it is to be like just a meme coin in the end.Just like the Musk era that happened, I imagine how many people realize that they were just throwing their coins into a meme coin.
Always during the bull run, speculators appear on the cryptocurrency market who invest without even knowing what they are buying. When the bear market starts will they begin to educate themselves and understand that they lost money, because they have bought a meme coin that has no use. Of course, a meme coin can be used for payment, but I am afraid that no meme coin will gain as much popularity as to be more adopted than any classic coin.
I always have this idea that memecoins are worthless in the long run and that the ones who get rich in memecoins are the ones who got there and invest very early. Maybe some will say they do not have real world use or that the developers are to lazy to anything anymore. But there might be active memecoins who wants to do more and become more than what Dogecoin has achieved. All you need to do is to become more into researching at least give yourself one day research per coin and you might be able to achieve your dreams.
however, the risk is too high to invest long term in meme coin. especially for coins from new projects trying to create hype in the market.because the case with Dogecoin is very different. Dogecoin has been on the market for a very long time and the growth of the Dogecoin ecosystem is huge. the situation will be different for a new project. we don't know how long they will survive and be able to compete in the crypto market.
I always have this idea that memecoins are worthless in the long run and that the ones who get rich in memecoins are the ones who got there and invest very early. Maybe some will say they do not have real world use or that the developers are to lazy to anything anymore. But there might be active memecoins who wants to do more and become more than what Dogecoin has achieved. All you need to do is to become more into researching at least give yourself one day research per coin and you might be able to achieve your dreams.
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But most of it are all from hypes, or am I missing something here? Like how would even one get its use if the true purpose of it is to be like just a meme coin in the end.Just like the Musk era that happened, I imagine how many people realize that they were just throwing their coins into a meme coin.
some successful meme coins in the market with huge community growth due to hype. when many people join then they should also be prepared to lose their money.
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But most of it are all from hypes, or am I missing something here? Like how would even one get its use if the true purpose of it is to be like just a meme coin in the end.Just like the Musk era that happened, I imagine how many people realize that they were just throwing their coins into a meme coin.
The blockchain of any meme coin can be improved to implement new business-related functions such as DeFi, etc. Meme coins usually are quite centralized, so their miners or validators are unlikely to raise objections to the decisions of the developers.
The main feature of any meme coin is its current or former popularity among the cryptocurrency community, so there is no need to advertise a new project. Perhaps when enough coins have accumulated in the hands of the whales, the meme coin will be upgraded to have use case.
The main feature of any meme coin is its current or former popularity among the cryptocurrency community, so there is no need to advertise a new project. Perhaps when enough coins have accumulated in the hands of the whales, the meme coin will be upgraded to have use case.
Recently, we saw so many people buying Meme coins, hoping for a new Doge. At first, some profits could be made but it didn't last long.
You could be right mate...We can't really trust meme coins but we can't also underestimate them knowing that some of them just pump. But talking about investment deals, this gonna be a short-term deal only. It wasn't reliable enough to hold them for long as the risk is too high knowing the possibility that they might turn into scam coins. If that will be the case, I'd rather have to choice Bitcoin or the top leading altcoins for this. 
Recently, we saw so many people buying Meme coins, hoping for a new Doge. At first, some profits could be made but it didn't last long.
They didnt search for last long profit, they just want to scalp it and build a snow-ball effect. It will be bubble blast in the future and very risky to the entire crypto space.
I hope we dont follow that kind of investment, i categorize that behaviour as a money game that should be avoided.
Thank you @op for such a wonderful and detailed write up, meme coins are as good as useless, for it is only useful to those who are in for some quick profit which for some still end up as quick loss, meme coins won't even survive the slightest experience of a bear market, and a coin or token that cant stand a bear market is absolutely a shitcoin.
I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.
That's why it called a meme token because they have no use in this market aside from being a meme and I don't really see their usage in this market in the long run. Most of the meme token will die eventually so don't hold for too long and always play short with any meme token. Though DOGE is totally different because it is being hyped by Elon but sooner or later, it will go back from where it begin in the bottom. I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.
Memecoins may become the next shitcoins because they exist because of the Hype only.
Well, the only thing we can utilize from this coin is only trading for a short-term period and we must be wise and smart in deciding the right time to buy and also the right time to sell. Once that coin has risen up and has reached the target, it is better to take profits. however, if you are really not sure about the chance, it is very better to avoid this kind of token. That is too risky.
if we miss the boat then losses will await. when the market is bullrunning it's easy to find projects that are buzzing with hype, like meme coins, and if they don't have any real long term function then once this hysteria is over they will become even more worthless. the movement is difficult to predict, which is clearly easy to go up and suddenly go down, that's why I avoid such coins.Well, the only thing we can utilize from this coin is only trading for a short-term period and we must be wise and smart in deciding the right time to buy and also the right time to sell. Once that coin has risen up and has reached the target, it is better to take profits. however, if you are really not sure about the chance, it is very better to avoid this kind of token. That is too risky.
I prefer coins that already exist and have a real function.
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I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.
It's also quite unsettling. my friends entered the crypto world because they got an invitation to invest in meme coins, even wanted to invest their savings because they were lured by the double profit like Doge. I can only remind them that it's a big risk, and it's not that easy to get a profit. if they are lucky they might make a profit, but if they sell it too late then they will lose. I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.
legendary
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Thank you @op for such a wonderful and detailed write up, meme coins are as good as useless, for it is only useful to those who are in for some quick profit which for some still end up as quick loss, meme coins won't even survive the slightest experience of a bear market, and a coin or token that cant stand a bear market is absolutely a shitcoin.
I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.
I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.
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