Topic: Memecoins: Not all that glitters is gold - page 5. (Read 909 times)

New investors just came into the crypto space and asked a questions which how they will earn a lot of money in crypto, some of them see the potential of the meme coins and other degen coins because they can easily make a quick flip their mindset is to buy with the coin and wait for the release in the market and make an instant sell but this is not the reality they need to consider a lot like the team behind on it, roadmap, the current marketing strategy of the project including the community engagement so if they see its already a dead project its not worthy anymore to make an entry. Also there's a lot of bot right there make a position to sell their asset with this meme coins.

Yes, they are: according to CMC, DOGE started costing around 0.0001$ and peaked above 0.50$ (thanks to Elon's pump I think), which means that somebody who invested 200$ and sold at ATH made a profit of around 1M, if my maths aren't wrong.

Well, 200 are not exactly "a few" dollars, depending on who you ask, and 1M isn't "millions of dollars" either. And we are talking about one of, if not the most, remarkable cases of successful memecoins. But yes, in such a volatile market, you can make a lot of money (at a much higher risk of losing it, like the recent case mentioned here).

There was a topic that was created about it on scam accusation board on this forum two days before this month begins. Millions lost as Mbappé’s hacked account promotes $460M crypto scam

I think I have Mbappe to be blamed for this. People's account hack on X is very common and this celebrities know that. They should use 2FA apps or security key to protect their account. Also I have people to be blamed as they are greedy. All those meme tokens have been seen to be scam. You will see them pump it and later dump it as usual.

Are these stories real? Turning a few dollars into millions of dollars requires a huge price pump especially if we are talking about a short-term investment which is something that does not happen in any investment in cryptocurrencies. You can think of Memecoins in trading with small amounts and a stop loss order otherwise it is the fastest way to lose your money.

Investing million dollars on a random shit coin? That guy must be extremely rich.

Not just memecoins any coins that has low marketcap value is extremely risky to invest cause they can slide into wrong direction in no time and that is the good platform for the pump and dump schemers.

Investors should stay out of these traps and make their investments worth something by doing the right things.

Quite sad
This is why DYOR is adviced.
A reputable personality saying something doesn't necessarily mean it's true.
Pump and dump schemes are the worse but most individuals especially newbies still involve in them cause of greed.


Unfortunately even with these evidence and experiences most would still continue
Believing they would be different.
Mind you people become millionaires from it
But how many and what happened to the funds at the end.

Some of you might have come across mind blowing stories of how an investor turned few dollars into millions of dollars, simply by buying memecoins such as DOGECOIN, SHIBA or PEPE when they've not really gain popularity and later sold at a big marketcap. While this may seem very tempting to some persons, the bitter truth is that these investors fail to tell their audience how many times their hands were burnt and the losses they suffer.

Few days ago, a memecoin investor invested a whooping $1,000,000 dollars in MBAPPE coin and within an hour, his investment was brought down to $9,200 dollars when the scammer removed liquidity causing the price to plummet. Now, this is just one of many sad stories of investing in memecoins.

Imagine if the investor had invested in Bitcoin, no matter how deep the chart gets it will surely bounce back and there's certainty that he'll get his money back as well as some profit, but in this case his investment is gone and gone forever. My advice to newbies is that you shouldn't be carried away by memecoins because of the price swings. They are dangerous, not worth it and the risks outweigh the gains.

There is a popular saying that any thing good takes time and it's worth waiting for. The bull is around the corner, invest in Bitcoin instead and HODL.