Topic: Meme coins have no use case (Read 664 times)

I think their assumptions regarding this coin are too enormous so the truth that is occurring now is that numerous individuals would prefer not to acknowledge and still expectation with a siphon from a very rich person. As it began to fall, they became useless bits of resources and I don't figure anybody would contribute further on such coins which don't have a legitimate case at any methods.

But not for long, you can make a short term profit but if you are not very attentive you will find yourself late in dumping your shares and might end selling at a loss, any coin with no usage and will not contribute anything in this technology are bound to be a shitcoin and will vanish in the market in just a short period of time.

Nowadays most of the projects available in the market with meme coins which have very popular but not all coins. Shiba Inu derivatives coins have popularity and it's target objectives also very effective. You can invest those meme coins undoubtedly.

Meme coins are such a waste of your precious time and resources. This is why I never bothered keeping a single bit of my attention to them. I would rather invest my hard-earned money in profitable altcoins like ETH, ADA, LTC, BNB, and Stakenet XSN which has a unique use cases and technology-driven innovations.

I don't think a mem coin is that attractive, but if anyone can predict when the time is right to join in and exit with a big profit when the pump hits, the meme coin might be a not so bad choice.

memes coins is just a props in the space wherein they're hoping to get some attention from some investors as well after the dogecoin become trending because of elon, but see what happen to doge after comparing with bitcoin?  So for short if you contribute on that memes coins for sure it's like you dash money to someone for free. Lol

we will not know how the fate of coin memes in the future. if many give an example of dogecoin. then they should consider how long it will take Dogecoin to build a strong ecosystem with a lot of adoption in the market. Of course, it is not simple and short achieved by Dogecoin.
if there are meme coins that take advantage of the momentum of dogecoin, I think it will take quite a long time or long term for the asset to become viable.

Dode coin develops and advances takes quite a long time.  They groan with the years.  But now there are many meme coins circulating on exchanges who want to follow in the doge's footsteps.  Many new crypto users who want to get rich quick with meme tokens.  I don't think that's good.  Because there are many token memes, the end of the developer is blurred.  Moreover, meme tokens circulating on the bsc network.  Because there are many interested meme tokens on the BSC network.  So there are some people who want to make their own profit by making meme coins.

following hype in market actually give us multiple profit than in common projects. we have to see what is be trend now in market , and no matter is it shitcoin or qualified project.  look at past trend such as NFT  meme coin, all of them give us much profit than trading in bnb or ethereum. but we have to care about risk if suddenly project become scam.

Trends will come and go. Tokens will also come and go, most of them. It is not only memecoins that will disappear with time, we shall also see some top tokens disappear too. Those tokens that are top on the list this year may disappear in less than 2years from today. There are also top tokens people say do not have use case. Dogecoin is an example but it is still there. Infact, Dogecoin is getting stronger and stable each passing day. What everyone needs to do is become more careful while buying any token whether memecoins or not.

Indeed, meme coins looks like trash to me, without hype they are nothing, even Dogecoin too. But again, if investing in cryptocurrencies is to make money, and investing in meme coin can make money, then there is no good or bad i think. The important is that you can get profit form it.

When mainstream crypto adoption will be happening, I believe all kind of coins which are already known to people and having some significant user base might be reaching its peak levels. This way I believe, no one is going to be bothering about what kind of usecase one coin will be having but they will simply adopt what already is known for them. So, how famous one coin right now might be deciding its fate in the future.

This is what exactly happening right now and one good and famous example must be dogecoins. Traders and investors will not be going to bother about what kind of use case one coin will be having but they will simply adopt whatever is famous and already being used by most people.

I think there is no distinction here, I would choose both. I really like erc20 because from what I have used before, I realize the familiarity as well as the simplicity. And BSC is similar, and it also brings many better utilities. And many people still use it for fud Ethereum, but those who have faith in it see that the problem will soon be solved and there will be no problem again

But there are some Meme coins that has been long running in this market and also making good growth , but like you?
i don't support any of these coins because i don't believe in its future and for me those coins are manipulated currencies that will die eventually even before the crypto adoption happens in the future.
but of course there are some coins that will remain though i don't wanna risk my money for those and instead will by regular coins .

That is because Elon's tweet about Dogecoin makes the price is the rise and hit the highest price. The meme coin will be for fun but it is hard to see if the meme coin will use cases. Besides Shiba, I heard that Ginux is following Shiba and Dogecoin, but I never know the truth. Maybe the meme coin can be for long-term investment and more than 5 years of holding.
If that is about money, people tend to become crazy and not thinking much.

Isn't it the nature of the cryptocurrency market?  Bitcoin, Meme Coin, Privacy Coin, and any label fall under the pump and dump schemes.  Whales accumulate, then pump the price before dumping their stash, create fud to accumulate again, and the cycle restart.  Anyway, I always believe it all depends on the developer, ETH, and any other known altcoins had been subject to dev dumping their stash, but if you know any dev that doesn't sell their coins I will admit I am wrong then.  Though I agree 100% that in order for one to get a profit, someone needs to produce in order for us to gain profit.

You are absolutely right. Meme coins are shitcoins, and as such, are only good for pump and dump.
And don't get cocky, as soon as it pumps, the team behind it will dump. If you're lucky, you might get some profit, but at the cost of so many naive people losing money

That's right and it's obviously useless if we invest in coin memes,
I don't even have high hopes for coins like that either,
much better to invest with coins that have a clear project or we can invest in the top 10 coins

Memecoins are just another part of momentary system; why do we need only serious things whereas there will be a room for everything? I mean when a community support then anything can be used for momentary exchange and there will be no compulsory of being an innovation based thing alone to be used as money for day to day life.

I am always against on pump and dump but there were lots of copycat coins which were being built just to suck investors' money whereas some coins are coming up by announcing themselves as non-serious one and people are supporting it and I am not seeing any wrong on investing with them as well.

If you think about real world use case, that might be true. But we are getting a completely different financial and virtual environment within the internet. We are making possession and capital through NFTs and crypto. Utility tokens help other crypto activities to prosper. Meme coins are exciting and trendy. Use case arises when you believe you are using it.

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.

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.

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.

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.

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.

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 .

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.

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.

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.

That's right, even assets like Dogecoin we don't know how to use their real product. As far as I know and from the past, many gambling sites accept Dogecoin for their bets.
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.

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.

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.

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.

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.

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.
I prefer coins that already exist and have a real function.

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.

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 just cannot imagine myself investing on such coins. I have been in this industry since 2016 and I have seen many sorts of shitcoins and scams but I have never seen a huge number of dumb people investing on not just one but several shitcoins altogether without even considering their choices. What's worse is that they even have the audacity to get pissed off when you show some care and try to guve them advice. What a phase for crypto this year is. I would rather have a slow market than a market being swayed just by a few tweets from a single person.

Meme coins are useless indeed and do not hold intrinsic value, but they might be the way for some people to get rich. That's why people are attracted to them.

We must understand that most of us are not in crypto because of the technology, but because of the returns. However there is a catch to this. Retail investors who are not versed into the investing world get caught in the risk-return fallacy. Many people lose money. Even if you have had some random success, if you do not have a winning methodology to find promising projects that actually have a future you are doomed to lose money in the end. At least in my opinion speculating on meme coins is a gambler's game and should not be the activity of a serious investor.

many people's supported those meme coin, shiba inu is massive community, for that it's listed on binance exchange based on users vote and it's built as a doge killer. i see another a new project goma shiba inu which inspired by shiba inu.
i think there are no vision in the future, who thinking how to rich in overnight just they invest for those project.

Meme coins are created in order to make money and as you can see recently a lot of various meme coins have appeared in which people invest a lot of money because investors want to make money by investing in meme coins, but the fact is that now there is a hype around meme coins and when the hype will go down, almost all these meme coins will die and investors will lose a lot of money, so before investing in meme coins, you need to remember about the huge risks of losing your money.

Thailand has a say about the meme coins and I think they're the first one to remove them from exchanges outrightly.
(https://www.engadget.com/thailand-bans-meme-coins-nft-113518980.html)
Other than meme coins, they've also commanded to remove NFTs and other exchange tokens. With that law that they've made, they're trying to remove the manipulation that might put their citizens into it.

The growth of coin memes stemmed from the hype of Elon Musk. Doge started moving and making huge profits, other coin memes were formed and attracted people's interest. A wave of meme coin investments is underway.
Overall, the market is in a bull market so all altcoins have movement, so money flows through more cryptos.
If another bear cycle occurs, will we still see meme coins next bull run? I think most likely not.

Yes, for example DOGE some time ago, lucky people will be very lucky before starting to tweet and the phenomenon, then he realizes that it won't last long and sells it when the price is high, it all goes back to each person's goal in assessing a project .

Yes, but you have to understand where they are coming from, the 'patronized" it to make profit and not because it has use case or something unique to offer in the market. That's why we really need to be very careful specially if we are a newbie because we might tend to get suckered by it and then get trap and the only way to get out is to loss our hard earn money. Or simply put, majority of meme coins are used for pump and dump scheme.

If you just search for meme coins then you will find a bunch of them trading in the market at this time which have no utility in the future and some of them are very popular due to people being convinced that they will yield good returns in long as well as short term.This was all temporary and market was under manipulation which pumped these shitcoins upwards but not for long.Such as doge,shiba,kishu,cumrocket,SafeMoon which according to me will serve no purpose for investors in long term.So stop investing in them for no reason as profit will not be made with them if you are not new to this crypto market you better know this.You can not guarantee your funds as not many nodes are running behind them and some are fully centralized currency so better to be safe with potential coins.

Most of the time those roadmaps are rather foolmaps which they will never follow or work towards achieving.

The problem is that they cannot change the specification of the coin and without changing that you cannot create any real use-case from dogecoin really. I heard that Elon Musk is aiming to work with doge developers but not sure if he actually means it.

Meme coins are named as such because they are created cheaply for everyone to own a massive amount without spending too much while the coin offers no value and is totally based on the hype that can be created.

That is the real worry when you buy meme-coins. You don't know if the bear run has started or the meme hype is over and it's time to sell the coins. If you invest in a legit project at least you know the project is yet to launch and even if the bear run is causing the crash, it should be recovered well once the project launches.

Some people will always do well even during the bear runs and yes most of the time the creator/owner of these meme-coins are the ones with the highest profit and from whose pocket it goes? Those who buy these meme-coins without actually knowing when to sell.

There is no problem trading these meme coins but only the sharpest traders will benefit and if you are holding meme coins, you better stop trading.

that's true, i am hold project with high quality usecase and product but unfortunately its price still lower than shitcoins in market. looks like investors or traders want quick profit by joining on pump and dump coins. although high quality project, but when its price dumped , holder easily panic . meanwhile in shitcoin , when they see price dump for them its good opportunity.

I fully agree with you on this issue. Just before investing we need to understand that not all promising projects will bring profit and those that will bring profit will most likely not give it soon and this is normal. Quick profits tend to turn into even faster losses that most likely will never recover.

Sad, but you cannot stop people from buying from your second point.
Hype yields them quick profit and they would not even care nonetheless of how the coin becomes in the future and so.
Some just wants to crap around crypto space and you cannot avoid them just like how some "joke" businesses pop up these days trying to be "meme-ish" from the trends.

No use case but then meme coins has been patronized by most of the investors thst is why they tend to survive until now. Its all about how active that trading volume, if they tend to have high trading volume even if they dont have a use case and been recognized as a good coin for trading, then it can still be useful for crypto market.

The hype makes them think that whatever the cost of their loss will be, it will automatically be recovered if those big-time investors put their money on those coins, and guess what? none of that has happened. Some people already get some decent amount of income but those who came, at last, are the ones who lost too much of their investment. Most of the time if they already finished with their pump and dump plan they will create another one and create another hype just like the last one. everyone should learn and not trust such hype anymore.

If I wanted to be sure of the investment I'd rather be holding good fundamental coins with use cases for a long-term investment. With Dogecoin, you will have to be watching all the time its chart and read what is going on in the community seeking if there is a sign of dismay. You just can't see the signs like how Vitalik dumping Shib tokens, you wouldn't be able to know this ahead of time.

thats the point, these newly made meme coins are made simply to get all those greedy people into the market to become victim, these kind of greedy people who
think they could make millions are usually the one that make such haste and bad decision making them trapped and gets into the FOMO.
See how many people are angry at elon when doge goes under after elon try to shake the crypto market, so many people are actually insulting him because
the market didn't go up when they just got in while in reality, they are too late and they are the victim of fomo because too greedy.

If we want a quick profit we have to agile in this kind of volatile market like crypto. Meme coins could easily pumped hard even the coin has no future plan at all. The internet was already spreaded around the world and the information can spread to all around the world in seconds. So we have to be so agile if we want to survive in this market, or we just holding a good fundamental coins for a long time investment

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.

It was the cryptocurrencies that were already issued under the name of memes that sank the market. It doesn't have any technological development, it's a worthless entity that emerged purely for the purpose of fomo. People looked that as the doge was inflated by Elon Musk, he shifted their investments. People who wanted to take advantage of the opportunity immediately created an interface with a simple site, issued tokens and released them to the market. They made very serious profits. But my advice is to stay away from it as much as possible. Even if you are still going to invest, it will be to determine the amounts that do not upset you and the point you need to exit.

I agree with that, something that doesn't have a utility is not worth investing in since in the long term it could easily fall down its price value and make it riskier when it comes to long-term investment.

Most of the time coins like this are jump pump and dump because the price pump is just because of the hype in the market so after a pump there is always a dump coming for sure.

But I guess DOGE coin is a little special at most of the meme coin because it has a big community that believed that DOGE coin will be a currency that you could use.

Yes, it is very clear because when the meme coin market is in a bearish condition, it will be very risky to continue buying it, even at a low price point, because meme coins take a very long time to bounce back, and even then if there is support from the news which is good in the crypto space.

They don't want to do this.

What they've been believing is that Elon is with them and meme coin is the future. Well, they'll be learning the lesson the hard way when most of these meme coins starts to drop in value.

Bitcoin and owning other good altcoins would still be the good strategy or if someone cannot avail to hold other altcoins and wants to stick to bitcoin, that's also a good strategy.

Meme coins can have a use case depends on the developer's roadmap.  After all, being a Meme coin is only a label, development and roadmap depends on the developer themselves.  Just, for example, a dogecoin can be developed into a more useful one but sadly developers are quite lazy to do something about it.  Many other newly created Meme coins are following Dogecoin's footsteps but some of them are actually planning to put a real-life application such as creating dexes as a service, while others are to develop a platform where anyone can enjoy purchasing something where their Meme token is the main medium of exchange.

because they trust the words of the billionaire too much and I think their expectations about this coin are too big so the reality that is happening now is that many people don't want to accept and still hope with a pump from a billionaire.
I think it's very risky again and I'm sure a lot of people will be disappointed with this

some Fomo people are so hype about this coin because they are so confident in backing up a billionaire without them realizing the dangers that lie behind them.
I think they are now regretting what they did to glorify this meme coin

Some people do well but it’s a minority really & you really do risk losing everything with these type of investments. Stick to bitcoin & other established alts rather than risking with meme coins.

That is the bitter truth behind the Meme coins. Once the Doge started to go up (when someone tweets), people started to think that it may easily go pass the BNB and even Ethereum. With that hype, people started to create more and more meme coins, which do  not even have any use case. As it started to collapse, they became worthless pieces of assets and I do not think anyone would invest further on such coins which do not have a proper case at any means.

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. 

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.


Keep a realistical point of view

From a realistical point of view, Meme coins don't offer any improving feature, it's just pump and dump, pure speculation. If nobody will buy it anymore, it becomes obsolete. Behind Meme coins, no innovative technology can be found.
Meme coins can be used for payment, but also like every existing project, so why not using Bitcoin for it? No seller will accept dozens of Meme coins.
We should ask us ourself: which benefits can a Meme coins really offer? And our answer will be: none, it's just speculation.

We can assume: when we don't have any hype, such projects will crash.


Buy innovation instead of hype

Crypto is still very early and we will see so many projects build on crypto. But good projects will not be build on Memes coins, good projects will be built on solid platforms where all features are available for a high-scaled and decentralized.
Such projects are for example IOTA and Avalanche, rising and innovating Blockchain standards and showing a clear vision for technological standards. IOTA has a record of being an innovative and internal leading projects for industrial standards, coming from Germany and already partner of industry leaders. Avalanche has established to arise as an interoperable project also for economic solutions, like decentralized finance but also government cooperation. A highly relevant feature of Avalanche will be subnets, where each industrial or governmental standard can be met - powered by Avalanche.
Such projects will be innovative and important to buy because whole industries will be built on it - not on Meme coins!

Meme coins are just pump and dump and have no real value. When crypto shows its true potential, Meme coins won't play a big role anymore.
Conclusion: Invest wisely and research about projects for industrial, economical and governmental use!