Topic: Memecoins: Not all that glitters is gold (Read 909 times)

I am with you here, we should only use what we are willing to spend.
Otherwise, things may go south really quickly, and nobody wants to experience that, especially on the start of their journey.
It's essential to trade and invest responsibly.
(also, a little note not related to your post, I think your signature campaign isn't looking the way it intended like on others).

Very sad story mate and i believe that it can happen to everyone,investing specially in meme coin is a big risk,and i think only newbie didn't know about it,that is why i always says that if we are in the stage of learning we need to only use a small amount of money as capital,because we still don't know how risky meme coin is, just use an amount that we can afford to lose and everything will be fine,we maybe lose today but when we already know the strategy we can surely earn in the future.

This is the main reason people’s are investing in MEME coins, they knew that MEME coins are high risky investment also high profits which can be change their life, so that they're too attractive to catch newly MEME coins, if luck will their favour then they can rich in a day. Real investors will never make big investment in MEME coins, mostly newbies invest in MEME coins because they have no research about cryptocurrency market.

It's really just about hope put into the coin. It can bounce, it can be - reanimated - in a way in a half year or two, many things can happen to memecoins that we can't really predict or notice when it's needed.
A lot of analysis and watching through the events following the coin is needed to take a decision what to do next.

the problem with meme coin, observing increases and decreases is not really sufficient, when you're buying meme coin, really you're just betting on yourselves whether or not you are buying into a rugpull or actually genuine coin.

this is the reason why meme coin with no dev holding some percent of total supply are the ones choosen by the market to go up really high, because the market themselves also know that the possibility of rugpull is bigger when devs or there are wallets holding big total supply of the meme coin.

so definitely, there's something much more going on into observing which meme coin deserve the buy, even then no guarantee that it will grow that high, only very few meme coin actually could grow. in the case of reading the price chart of meme coin, I can say confidently that meme coin doesn't follow the routine that other coin has which always abide to technical analysis, meme coin is completely different kind and could just go up and down disregarding TA.

None of this criteria will give you the best memecoin to invest into, why you may ask is because the best memecoin that have done so well didn't meet any of your criteria. Shiba inu doesn't have a known founder and dogecoin founder doesn't own any of his creations hence memecoin aren't project we're meant to do so many research on because after all your research, you can still invest into a memecoin that'll end up scamming you. The best memecoin are the ones that get the most hyped. Being smart, all you have to do is invest and sell during the peak of the hype. Memecoin can't be treated like serious investments with all the research and inside digging being done. Investing in a memecoin is a risk that you're going to lose more times than you can win hence picking the correct memecoin to invest inside is just by chances. Investing in many won't save you either because your chances of losing doubles as you invest more.

from all of that depends on the luck that we get, especially memecoin and it all starts with the precision that they do, even though it has a high level of risk but all of that can happen without us thinking, by observing the increases and decreases that is what needs to be done for these coins.

I've seen the transaction and yes it's both sad and ridiculous, with that much amount of money, this guy could literally let it sit in some staking program and it will grow on its own, but nah, buying meme coin created by rugpullers seems more interesting for him.
this is why the meme coin trenches in solana is the worst speculation ever, too much rugpull the odd you will make some money is really low, at some point it will hurt solana itself as a blockchain and ecosystem that provides and facilitate rugpull.

the capital is escaping their platform because scammer and there's nothing they can do because anyone can deploy their own token. when capital is drained out, solana will hardly pump.

I've been saying it until I'm blue in the face.  99% of meemcoin buyers will ultimately get burned because they dint know how to pivot profits into good projects, starting with bitcoin.  Last me run was successful because it was the new thing and there weren't many coins to pick from.  Now there are too many and the money is spread way too thin.  It's also dragged in more scammers.  Not sure why anyone would risk a milli for something so stupid lol.

I always avoid to invest in MEME coins, it’s doesn’t matter to me even if big hype or trendy coins in the market, MEME coin is absolutely trap, if you invest big amount of capital, there are high chances to lose everything, no way to left without any losses, i faced big losses in a few coins. And even now i don’t following any influencer in social media, who guys have millions of followers they also promoting many SCAM coins because they're paid, so they don't care about which one will make profits or losses.

True, such success stories often get the headlines and look impressive. However, what is often overlooked are the risks and losses experienced during the investment journey. Many of these seemingly successful investors may have experienced many failures and losses before finally succeeding. Memecoins and other speculative assets can be highly volatile and high-risk, and spectacular returns often come with enormous risks. It is important for investors to realize that for every success story, there are many undocumented failures and losses.

Yeah, fewer risks involved, and more utility at hand - if you are going at least mid-term, the decision is easy, really.
It boils down to what target a person is putting in front of himself, really.

Yes you are absolutely right. meme coin is very risky and the reason people invest in it is because they want to get rich very fast. But they don't know that they are taking a big rick without their knowledge. But currently there are many coins that offer good returns to investors but it is really foolish to expect more. One thing I really like about you is that he doesn't know how big of a risk he is in until he gets scammed, which is great. I think investing in altcoin is much better than meme coin because it is much easier to recover the money even though it has risk.

Yeah, usually that's how it goes
Only a small portion of the projects like that think about the community for real, and about the allocation and the future beforehand.
It's rare nowadays.

Investing in meme coins and expecting guaranteed returns is completely rare. Meme coins can be exciting, also risky but sticking with Bitcoin or other major, proven coins is usually a safer bet anytime. Unfortunately people don't realize the risk until they fall victim to a scam, but if they catch on in time, there's still a chance to recover their money.

All that're typical hyping of the so Memecoins and it's similar to when we could figure out fake projects review comments. They're always well sugarcoated organized just to attract people to be victimized.
Ethereum has really displayed an open door for AltCoins which has foreseen the development of the MemeCoins and then there comes coins like Doge which has also created potential attractions in the crypto currencies.
Then all sorts of fake coins came to posses the crypto markets with their scamming schemes that is being much attracted to invest on in an onset while middle time or lather Investors are the targets to be scammed after much they have gained dominance in the industry.
Bitcoin has been high volatile currency in valuability which slowly ventures in fluctuations until it's increased in value while most of the MemeCoins are highily volatile with fluctuating dimensions heading deprecating while the coins value returns to zero and living Investors overnight robbery.

This shows that having money alone cannot make you a good investor. Many people think that they can become successful if they have a lot of money to use but that isn't true. If someone can lose $1m in a meme coin then you can imagine how much money such a person can lose in useless coins and tokens.

So it's all about knowledge and experience. Some whales invest large amounts in meme coins as well but they know what they are doing and their investments aren't based on mere speculations and watching the market for an hour, they research before they make their decisions.

It depends on the meme coin as well. Of course, if someone is investing such a large amount in a meme coin that appeared in the market just yesterday, they are going to get ripped off their money, but someone who does enough research and does the same in a meme coin that they know has been around for quite some time and isn't going to rugpull just because of their investment, they can get good profit from it.

Investing in Bitcoin can be thought of as risk-free. We know Bitcoin is also risky but if you hold Bitcoin for long time then it will not be risky you will definitely profit. Memecoins are like a storm, investing in memecoins can expect high profits but is very risky.

Yes, it's best to stay away from meme coins. Investing in memecoin can lead to many losses. Many people have lost a lot of money by investing in meme coin, they have not been able to recover yet. But those who invested in Bitcoin and suffered losses definitely managed to recover. However, those willing to take risks can invest in meme coins. To stay risk free, invest in Bitcoin and hold for a long time.

The wait will not be in vain if it finally brings something good for us. Meme coins are just a trend and will not guarantee their shine like gold. I am not campaigning that meme coins are bad, but for me buying and holding meme coins is like wasting time on something uncertain. However, Bitcoin is certain and will not disappoint if waited for by holding. Every four-year cycle is a guide, so before that time comes, investing in Bitcoin and hodling is an action that will not make investors regret it. Not to be recommended, but this is for myself.

Most people who make gains on memecoins don't sell on time

These lucky ones are not simple market participants, but represent teams of meme coins and their close friends. And the main goal of launching such meme coins is to make a profit at the expense of newcomers who came to the market after learning that someone once made a million by investing only $1.

A good parable from the OP. Memes that have existed are more because of the hype, not because of their usefulness. Even I tend to avoid coin memes. Although I have some meme coins, they are coins that I bought and are ready to lose. So it's better if you buy and then sell when you're profitable. There is no advice to hold long-term, as they tend to lose price as you say.

In all honesty, only those who are less knowledgeable and just want get-rich quick profits get attracted with meme coins, as they find them more glittering compared to bitcoin. But when it comes to real value and profit consistency in the market, no one can beat bitcoin. Gone are the days where meme coins are in hype, they’re starting to turn into dead coins these days.

The current habit of people being tempted by meme coins is not because of the image or whatever it is that is seen from the entertainment, but the exponential returns, influencers usually show off their profits for investing in mem coins, so people who have a gambler's nature, they like to bet on the meme coins they buy and hope that tomorrow the goddess fortuna picks them up to see the world.

And yes, even if you understand degen or meme coins, don't ever think about long-term investment, because it is a bad decision in good investment management as a means to seek long-term profits.

Even if some of those meme coins show some potential to have a good pump still I don't think its good to acquire them. Meme coins is a the area of lots of scammer and I don't want to get involve with it since I always think that we are just wasting our time and money with these scam tokens.

I usually warn my friends regarding on this and they should never invest with meme coin since as we know which also mentioned for many times in bitcointalk that this is scam and save theirselves since their are lot of investment option they could choose rather than to look only on single risky options they see. Usually token created is just imitation of other project name and there's nothing to look forward from it since usually they don't have utility and what surround them is just a pure hype.

Don't be lured with its physical appearance, instead go look for its own value that will be good for long term. That's why DYOR should be our first step before we finally decide to chose to coins to invest. Also, by understanding the word itself meme, that's just an image made out from imitation just for the sake of entertainment, you will never be profitable on it for the long term, so just try to avoid investing on it to avoid future losses and regrets.

I will advise by giving out this tips, don't invest on any memecoins all because of the way of their appearance without you making research on the purpose for their project creation, knowing the team of developers behind it and how to safely invest on it, secondly on this, we should not be moved by the influencers who make series of promotions for some of these crypto projects, it's also a call that we should be careful because not all they say are true.

The investor in question is a big player in the field seeking to get his quick gains in the pump of the coin, thereby trying to influence the coin to an increased value by his  voluminous purchase of the coin. The good thing is that he's a big boy and I'm not so sure he was much affected by his loss.

https://en.cryptonomist.ch/2024/08/30/the-risk-of-meme-coins-the-million-dollar-investment-in-mbappe-that-collapsed-in-an-hour/

It only took an hour for the investment to fall to $9200, it's obvious it was a scam project actually. Finally a scammer is a scammer, removing liquidity barely after an hour of the whale's investment.

The crypto field is a field of chances, you take the right one, you gain and the wrong one would see you lose terribly. BTC is cool and an investment opportunity for those who are ready for a long term profitable investment. Pump and dump coins are always a gamble without any guarantee. I was thinking that BTC was volatile enough, but meme coins are beasts of volatility and should be approached with sheer caution.

Newbies need to be very careful with trend, they usually follow trend due to FOMO and it used to lead them to losses. These investors lost newbies are looking up to are also losing money heavily in crypto investment especially in meme coins or Altcoins generally, but due to their reputations, they will only show you guys the once they made profit from and hide the other ones which is why doing research is very important before you make any decision so as to be safe.

How sure are you that the Bull is around the corner?

We just have to keep investing in Bitcoin because it is only Bitcoin investment that is guaranteed of good returns, although Altcoins investment is also good but the risk is higher compared to Bitcoin.

Just invest the amount you can afford to lose.

Not all coins are good for investing because you might not be able to identify the right coin including new and old coins.

It’s so unfortunate the victim never had the knowledge about the outcome of the coin but, it’s best people take caution and respect their investment, There’s nothing like quick profit in crypto especially when a person is asked to deposit huge amount first before receiving profit when there’s bitcoin investment. Researching about the coin first is important but, anything associated with memecoins or new tokens has to do with luck that’s why investing at your own risk is important.

Hackers majorly target celebrities account as a result of their influence and followership. They know using such account could aid their nefarious act because celebrities are always listened to and whatever they do their fans would want to do same with them. This is the more reasons why they should be very much careful with their social media handles and possibly upgrade their security functions to make it difficult for hackers to access.

However, I agree to your thoughts with people being greedy. They would want to join the train without doing a proper verification to know if what they are seeing or hearing is true. The case of Mbappe scam should be an eye opener to those who are easily carried away by celebrities post for investment without doing their own research.

When successful people come out to address the audience on how they became rich, if they don’t always add the struggle path of it or where the whole stuff got messy for them, there’s some untruthfulness in their claim. Nothing good comes that easy and if it happens, it’s based on luck and it doesn’t come over and over again after getting it the first time.


Any coin that even has to do with any influencers name or portray anything looking to any popular influencer, that should immediately be a sign of red flag to you and should be avoided by all means. It’s either the influencer wants to profit from its fans since they can convince them to invest in the project or maybe someone is portraying them and trying to profit from their fans.


Some of this risks are done by people who are not saturated enough about the market, don’t know how the market operates and just want to get rich overnight. It’s very sad to see people losing money in crypto to scammers, it portrays a bad name to crypto. It doesn’t even matter if it was crypto investment or not, when investing, you should do your diligence research about the project before putting your money into it.

Yup! agree while diving into the meme coins to learn about portfolio diversification, you'll find many videos about different strategies that are easy to understand and execute, TBH you should acknowledge before investment that you are throwing this amount into a blind/dark water well. It can be as successful an attempt as finding water in desert and as bad as a dead end.

The diversification can help you to cover losses in the worst case and maximize the returns with lowest risks.

We would not know if there were any hidden agendas behind this investment. Anyway, taking it to be true, investing 1M dollars into a memecoins is unwise decision.


IMO that depends on investment amount, play with memecoins with little amounts and you'll be fine, some will shine and it'll make up for little losses occured.

I agree with your statements and left for me I'll rather start my portfolio with a Cryptocurrency that I'll still gain after a dip and I also think that instead of newbies to rush into investing in some shitcoins cause of greed they should rather focus on getting more knowledge about Bitcoin and invest on it before they would  think of diversifying at their own risk on the long run.

 No matter how promising some shitcoins may look, Bitcoin still remains the best Cryptocurrency for investment, that's why most institutions and whales invest more on it compared to others, some shitcoins sometimes looks so tempting and their owners even hire influencers to hype them but a good investor would always priotise Bitcoin more than other Cryptocurrencies when it comes to investment purpose.

The thing with most investors is that they like new projects, and don't really consider the risk attached. They feel a particular project of their choice will turn out great within a short period of time, thereby allowing them to dump the market for other investors. Sadly, it's even the project founder that made the liquidation, and left the Investor with less than 10% of what was invested. Like I keep saying, no project has SCAM written on it, which means some might be genuine, while others are not. But like you've said, it would have been better to get some Bitcoin with that amount($1M), rather than going for a meme coin that turned out to be a scam project. I hope he doesn't go out condemning cryptocurrency in general, because other crypto projects(existing and incoming) are not to be blame for this.

Well, one of the sad stories regarding meme coins indeed. I hope that the investor is find by now because losing nearly a million dollars in just an hour is just ridiculous.

I hope that this scenario will teach those newbies that investing into new meme coins will not make you rich overnight. There's a chance, but how much? Only a few investors are becoming rich by investing into these new meme coins and most of the time, many investors are losing money investing into them. This also shows that experience and knowledge is still the key, and having a lot of money doesn't mean anything if you don't have the knowledge that you need.

DYOR like what many are saying. Many of these kind of stories will still happen in the future because... there will always be investors out there who are willing to risk their money hoping to make a lot of money. Kind of dumb and stupid idea, but it happens.

It's amazing how a few dollars turned into millions of dollars. Yes I have had this kind of experience because I had a teacher friend who invested in DOGECOIN. He earned several thousands of dollars from there but did not share his investment amount with us.
Newbies mainly fall into this lure and invest in meme coins or shitcoins. When a meme coin or shitcoins is listed in the market at the initial stage, their price changes at a massive rate. This change makes new investors interested in investing. They then invest emotionally and eventually lose everything and sit still. Before investing they do not understand that investing in these coins is the most risky because there is no guarantee of earning money from it unless luck helps.

I must say that  irrespective of the level of research and analysis, involving in those shitcoins has zero guarantee and very unrealistic. However, the guy must be very rich to have invested such amount since investing more than what he can't afford to lose can be very problematic, by inflicting emotional devastation and a huge regret and depression, people are much eager to make quick money and some point alot are being scammed, patient they said is a virtue, while Bitcoin stand to be the best, it is always advisable that anyone who can not overcome the temptation of getting involved in any other coins other than Bitcoin should not do more than 10 percent size of his Bitcoin in to other coins.

Yes, DYOR is very essential before you decide to invest or trade first. Although it won't guarantee you from those first mistakes and losses, but it will surely guide you on how to limit your losses and will help you not to fall on unreliable meme coins.

Gone are the days where meme coins are very precious and profitable then. Right now, they may still glitter but are not attractive at all. Invest in bitcoin instead, rather than risking your money and time with meme coins.

I have seen many clown of celebrities launched their meme token just to make free money off their fans but Mbape didn't launch that token. What was published after investigation was that Mbape Twitter account was comprised and the token was posted by the hacker and the loyal fans went straight and bought it but immediately he got access to his account, the tweet was deleted to mitigate the further losses. It was never intentional.


People have choices and you can't force them. How many times have I cried over in this forum for people to stop buying meme coins but it seems the morr you tell them, the more they trend on memes because the trading volume says a put about how active people are buying meme coins. You can't change what people want no matter what, that's why I said it's their choice of investment.

Lack of understanding and greed will always be the reason why beginners will prefer to invest in shitcoins.  Some people believe if they should invest in shitcoins they can quickly realise profit but not knowing that most of the new project may likely crash in the crypto market.  There is good profit investing bitcoin  expecially when you buy bitcoin in the bear market and hodl it for sometime it will surely give you a better profit. Investing bitcoin is not even just about profit but Investing in an asset that is very reliable for investment.

Their is no shitcoin that increases in value overnigh, the hodling process is still applied to it and i don't know why people still feel it takes a lot of time to still make profit from Bitcoin.

Meme coins are getting saturated lately because bitcoin is also experiencing a downward trend, so it is very natural that we speculate meme coins are no longer profitable due to poor market conditions and also a lot of fraud that occurs on memecoins which makes mem coins in my own eyes no longer attractive.

Unfortunately meme coins are easy to make, just relying on news shocks and pom-pom schemes will invite Fomo many meme retailers, and that is very dangerous, someone investing in memes whose liquidity is not locked will be more vulnerable to their money being taken away by their own development, not a few about and worse there is the case of squid games in the last cycle.

So, there are people who have up to $1 million in their account, and they are still looking for more; the way that seems okay for them is by investing hugely in memecoins, not in Bitcoin. That sounds funny to behold because there are investors who are looking for ways to make little or more profits from their crypto investment with the little amount they can afford to lose, not the amount that is too big to lose. And this said investor that has A million dollars to his name is aiming for more, while many investors in this crypto space are not dreaming of having or making such money to risk in Bitcoin or altcoin. What a surprising life experience we get to see, that what you are unable to get from crypto investment, someone else has it to risk on memecoins

Only those looking for fast links will view bitcoin as something they perform magic. It's true that bitcoin doesn't perform magic, as it's never an option for those who want to get rich quick.
 
But in the case share as regard the meme coin investors, the case of Bitcoin is entirely different. Here, Bitcoin provides an opportunity for the investors to recover the value of their money as long as the volume from the purchase has been sold out.
 
It's just a matter of time, but the price will definitely get there some day. What's just required is patience and time, not like the failed investment that the market might never even see anything close to its ATH, and in most cases those meme coins become valueless and can't be exchanged for anything else ever again.

If we come to the realization that investing in meme coins is a kind of gambling, we would not have too much problems in this industry. It is only when we don't see it as gambling that we use huge amount of money to invest in meme coins. But if we are acknowledge investing in shit coins and meme coins as a kind of gambling, we will be very mindful of the amount of money to invest. There will the statement of investing what you are able to lose come to play.

Apart from the whales, any serious someone that is investing in meme coins should not invest with huge amount of money, especially when you don't meet it in the early stage. Meme coins investment is for higher risk takers and not for everyone.

The profitability of new memes is over Investors are easily deceived because the people behind these memes are so good at making their memes a must-invest project They want you to be on FOMO so you are forced to invest, Yes there are stories of investors who made a lot of money from investing on memes but they are few compared to the number of investors who losses money from investing on memes.

You have to go back to the basic of doing credible research, like what is the usability of the platform and who are the people behind the platform, and is the project unique that its not a copy of a dead project, developers keeps recycling their project because they know investors have  short memory .

This will not be a case that the investor in question didn't do his research. Of course, he must've done that and knew the nature of the project he was investing into – a memetoken. For someone to have invested that much, it won't be that he didn't take some critical looking to know what's what.

It will be that he didn't have an insider information and couldn't understand that he was investing close to the time the rogue developers had in mind to dump. He was sadly made an exit liquidity. That's the most common trademark of memetokens, Pump and dump. There's a high level risk in that category.

To be profitable with meme investments one has to be timely to strike the iron while it's very hot and with insider information to navigate through. To know when to strike means to be an early investor so that as the market cap grows, one will be in profit before any eventual dump.

Hmm, I'm not sure what the background of the investor who invested the million-dollar in meme coin and even in a low-profiled meme coin, TBH he invested such an immense amount this indicates he owns a lot of money he can take risk. Anyway, he lost due to his own negligence and while making any kind of investment move you need to be extra conscious. In my above post, I did not say that you are not saying the same thing.

Investors who already knows how the market works would never risk such heavy amount into memecoin instead would choose bitcoin as their primary goals than memecoin. Of course we know that altcoins are very tempting and could caused one to invest after reading plentous news on how they made series of dollars from buying and holding shitcoin in disguise to good coin.

The volatility of altcoin can never be quantify with Bitcoin although we know that bitcoin is also very volatile but in terms of altcoin we can't equate them together, but as investor a project you never who reliable or trusted it seems to be and pulling out a massive amount like 1m dollars to it is very crazy, I think it's greed that engulfed him thinking he would made 10x as a return without knowing that it would work as the reverse.

What people going after is they take those chances where they can possibly earn big even if they know they are in huge risk for investing on meme coin. This kind of attitude is helping those scam devs to get rich easily. That's the reason there are lots of meme coin released and people adapt it since what these people know if they join on early phase of the project they can earn a lot of profit from this tokens. But they really failed to realize that what they are looking forward to happen usually far to happen since before they think about selling. The dev of those project is finding good price and volume to exit.

I know they think about gaining the same just like what Pepe and other meme coins which pump so big. But hard to spot this and most likely we will end up getting scam for multiple times before we find this what they call gem on meme coins.

It was a silly move. I think Mbappe's hacked X account that was used to shill the memecoin made it even more convincing because he must have thought the Madrid star was really the one behind the memecoin, not knowing his account had been taken over by a scammer. The dude eventually learnt the hard way.

We are saying the same thing, crypto investment generally is risky. Investing in bitcoin has a lesser risk compared to memecoins but investing $1million dollars in a completely unknown shitcoin is absolute stupidity.

Well, I wouldn't say the ones getting rich off of meme coins are only their developers but it's a 1/100k sort of odds which means only 1 person out of a 100k tends to gain unreal profits from meme coins, so the odds are always against investors in this area but the fact that it does have the possibility of providing people with unrealistic returns, investors tend to go for it. You are right, it's just like gambling because it's the possibility of winning that makes people gamble.

Those who invest in meme coins need to keep in mind that the money they are using can be gone for good, so they need to use their money moderately so that they don't have to face unbearable losses.

Newbie investors don't understand these things, this is the reason why we see hundreds of people posting their failure stories over social media after investing their money in either meme coins or newly launched tokens.

It is possible, a $100,000 worth of marketcap do turn 20 million when loads of buyers comes into a new token, imagine you are one of the early buyers? I know a guy who use $20 to invest in many meme coins, he got lucky with Bonk,Pepe and others around 2022 till 2024 and man, this guy made a lot of money, I have always advice against this idea but to my surprise it favoured him.

Still I don't have the courage to do the same, because it is gambling like, no one knows what will happen but to try, I guess that's his case, if he is ready to lose these money then it is fine, though o made a lot of losses, and that's $20 per meme coins but one good turn can make huge  changes.

By all means I don't encourage this.

Trading memecoins is like gambling but with very high odds. You might as well leave the high leverage on because you are not seeing that money again. I don't care how many stories you tell me about people getting rich off of memecoins - most of those people are the coin developers themselves. Or perhaps the NFT minters themselves. So it always resembles a Ponzi scheme.

In most cases that occur in Memecoin investments, the investor's fate will end very badly, one example is what happened to an investor who invested $1,000k in MBAPPE coins. The glitter of Memecoin is very tempting to anyone who sees it, but not all that glitters turns into a gem, which is why I don't really believe in Memecoin because the level of manipulation is still very high. Most Memecoins are trash because the market capitalization value is very low, obviously I will not take big risks due to greed wanting to get big profits in an instant because investing requires knowledge so that the investment will be more valuable in the future.

People still insist to invest because of greed. And where there is greed, that’s when they rush into decison without proper analysis and thinking. Lucky are those who still made short term profits with meme coins, but as we say not all that glitters is gold, meme coins in the end eventually lost its value and end up as dead coins. That only goes to show that meme coins have actually no real potentials to succeed in the future, they may be good for short term hodling but for long term, it’s always been bitcoin and nothing else.

And often a strong panic occurs and the person ends up selling on an incredible loss, then the Price recovers and they purchase less.  Then it is an awful cycle that seemingly never ends.  Psychology is hard to beat during unexpected stress.  But this should all be expected I believe.  They must have been simply deluded to put that much Money into a Shit Coin and not expect the possibility of something bad happening.

You are giving advice but wrong yourself too.  Bitcoin does NOT ensure a positive end of the story 'no matter how deep the chart gets'.  Bitcoin is not a savior, nor is it a miracle.  It may seem like it if you look onto a historical Chart, but this does not mean it is a forever loop of turning everybody Rich.  Be realistic.  Bitcoin can drop any time too.  Only because it never happened yet does not mean it is impossible.

I have also noticed similar ways of advertising here in my country also, must of the online gambling sites here have content creators and any social media influencers in they pay roll and for that those casinos advarts Plays in between their video and each time you stream they channels, those Casino's advert are out into our faces.


Some we know them as known scam partner such as 1xbit and 1xbet, while 1xbit is a well known cryptocurrency casino scam, the other versions is a fiat online casinos, and both have similar ways of operations and template which make us believed that, their are own and run by same set of team Same thing goes with altcoins investment most especially following the trend and the hype.

DYOR would make you realize how risky such tokens are.

Exactly, I find it hard to believe someone would invest a million dollar on a shitcoin project
That's just having balls of steel.

Unfortunately experience is not an affectionate teacher.
Imagine the benefit they would gain from doin DCA in bitcoin through the month of Sept.
But alas we want to get rich or in this case wealthy in an hour.

People shouldn't believe what people share on social medias especially those streamer or content creator because many of them are unbiased on what they uploaded on the social media as long as they completed what they are going to do in order to get paid by the social media plus getting paid by the platform like casinos for example. In my country, there are lots of social media influencer but enever bother doing own research because this person includes a gambling site that is called 1xbet until to this day that's why I said people shouldn't believe all that they will see on social media.

The crypto market is unpredictable, if you're considering on the market or the particular coin or token, then there is much to do before arriving on anyone of them, the beauty of it all is that everyone has his own story to tell, some started well, some had a rough start before making it back on track, while some never see the opportunity of getting back on track to where they have started from due to loss, but we shouldn't be moved by what we see, they could be deceiving a times, we may need to make more extra steps on research or waiting before going for them.

Well your advice seems to be a nice and educative one, and I am glad this kind information is given to the newbies to be careful of the kind of investment they do, to avoid being scammed of their hard earned money. Although not all newbies will fall to such scam but everyone needs to be careful including the old investors because the case of The man who invested $1m and loses  is not a newbie. I blame that man so much for not being careful to have invested such an amount. In as much as we are looking toward making profit, we should also think of the downside of it and minimize the Risk. Such an amount shouldnt have been invested in shitcoin at the first place. But anyway we learn everyday.

When I hear stories like this, I have no one to blame but the victim, and I hate blaming the victim. It should be common knowledge by now that meme coins are scams; he should know better. You don't risk an amount as high as that on a meme coin; that's just stupid. Investing in memecoins is no different from gambling. Gambling at least lets you know you're gambling and could lose your money while memcoins lie to you that you're investing while someone is somewhere plotting how to rip you off.
I have never seen anybody who got rich by investing in memecoins, even the stories they tell, if you look closely those guys were already rich. If that investor had made a huge profit from that coin, people would have said he made hundreds of millions with a few dollars while he did it with a million. An investor that can invest $1 million is already rich.

Many have Fallen for this kind of scam projects, and most times those that are mostly effected are they rich gullible fans who does not know the in and out of coin development and how the market work's with so much laziness to do a little bit of research on they own, this is what affected them most times and at such they tend to become highly regrettable turn out of events such as this one.

Why should anyone invest in a coin simply because it is being said to have been sponsored by a player's and promoted my his Media handles when we know how social media and fake identity work's, I think people need to be more guided on the kind of things they Believe in on social media most especially when it comes to cryptocurrency investment.

Hmm, I'm not sure you are aware of it or not, but meme coins is a proper category in the crypto market while Bitcoin falls into another category how a person who is investing in memes can be compared to a memecoin investor?

I'm sure those who invest in cryptocurrencies know that they are going to take risk to increase their rewards ratio, Bitcoin is reliable, but the returns compared to memes are much lower. So the whole thing depends on who much risk you can afford and what kind of strategy you are gonna apply while making investment.

My advice to newbies is you can invest in memecoins but you should know the risk, at the same time you can go for reliability and lower returns ratio with Bitcoin or in any other top coins.

Yes, it is quite sad, but I think that every enthusiast for cryptocurrencies should be aware of these kinds of things, particularly in light of the fact that institutional banking now offers spot ETFs for Bitcoin and other cryptocurrencies, which has led the whales to use the meme coin ecosystem as a new platform for their pump and dump schemes. If not, individuals like Justin Sun won't have to enter the meme coin market.

This person must be rich when he invested in a random memecoin. I honestly didn't even know that shittoken he invested until today. This is why many people always tell that you to make your own research about what you are going to do especially when you want to invest. After all, doing research is for your own benefit and security because if someone didn't do it then what happened to this guy is going to happen to yourself even the person who made a research also experienced although he make some research.

He must be rich indeed. To the fact that he don't even know whether he's investing in a potential coin or not, that's when putting his funds at risk when he invest for nothing.

If he can invest in shitcoins with no bright future, then the more that he should invest in bitcoin because it's the blood of the crypto. Maybe if he takes time to DYOR before investing, then he won't end up investing in the wrong coins and lost all of a sudden his million dollars.

This is not the first time hackers have targeted the twitter account of an influential person. I can recall a similar incident happened in 2020 where the twitter accounts of Bill Gates, Warren Buffet, Elon Musk and others including and former President Barack Obama were hacked and used for a bitcoin giveaway scam. A lot of people fell for the  and the scammers made away with over $100k in less than 6hours. I’m surprised scammers are still using the same format and it is even more surprising that there are people who fall victim to the same scam.

Elon Musk, Jeff Bezos, and Bill Gates appear to have had their Twitter accounts hacked as part of a bitcoin-giveaway scam

Most of these stories are too good to be true, one thing about all these paid influencers is that they'll always tell you the good side of a project and even sugar coat their words to attract ignorant investors to invest on those shitcoins without letting them know what they could encounter on the long run, but someone who has experience in Cryptocurrency should be familiar with their games and understand that memecoins are a joke in the Cryptocurrency space and investing heavily on a mere joke is a waste of funds and time since they're mostly pump and dumps you can't think of long-term investment with them as an investor else you could be making one of the biggest mistakes, and you're right to say that it's the fastest way for investors to lose their money, the best digital asset every investor could think of should always be Bitcoin.

It only take a few step for a verify account to get recoverd if ever it get hacked like said in this discussion, regarding mbappe x account being used to promote the shit coin that turn out to be a scam, so I wonder why didn't the star player not report the issue all the while waiting until the account is used to promote a scam coin.


I think something is possibly not too right with the whole game, since he has not yet issued any public statements also about the condition of his x account, and haven't denied the alligation of being involved with the memecoin.

The main reason newbies hesitate to listen is greed. They want to get rich overnight, forgetting that wealth takes time to build. It's sad that many people still fall for pump and dump schemes. New memecoins will continue to flood the market, luring investors with initial price surges. I knew someone who received $DOGS USDT tokens from a recent airdrop and wanted to hold them long term. I advised him to sell while he could, but he wouldn't listen.
This is the problem... they lose too much money on worthless tokens and coins because they fail to listen to advice. Investing your time and money on a coin with future potential is the best idea right now.

Well this works for some but not work for everybody. The investor thought he can easily bag another $1m but instead his the one got milked in the process. If his not too greesy he will only lay off few bucks to a shitcoin compared to other tokens with utility. Thats a grave news everyone could have the same situation is pretty depress for sure.

Many newbies into cryptocurrency gets carried away when they see any cryptocurrency that has affiliates with their favorite celebrities. They will lose all sense of reasonings and invest their hard earned money into the project, in the end it'll turn to shitcoin and their money will be burnt. A top celebrity in my country launched his token and many people bought into it because of his image as a superstar, it didn't take long before the token became dead and so did investors funds.

Memecoins generally are risky and the earlier that investors starts to understand that they're gambling their funds to buy them the better for them. It's true that all that glitters is not gold and anything that promises very huge profits on a very short term is most likely a scam. So DYOR and take your chances or invest in a long term crypto like Bitcoin.

I always advice people to dig deep on every meme coin that they are going to invest, these meme coins developers knows how to hype their project they always claim to be the next big thing, there are some who makes profit from these memes but that's only a handful compared to the huge numbers of losers.

Memes is a deceptive investment because they do not have use case they just copy their predecessor they don't even need a whitepaper or usability, so you have to know how risky investing in memes before you plan in pouring in a lot of money.

Most investors have fail to understand that meme coin or shit coin as we usually call it is more like gambling, something created for gambling purpose where some investors might decides to gamble and make a fortune out of it,  and majority of them get burnt due to the fact that the chances of getting burnt when invested into shit coin is way much bigger than the chances of making something out of it.

so in my own opinion, for an investor to think of risking his hard earned money on on shit coin, it's mostly because of greed, though their are some investors that invested in it due to the fact that they were uninformed, while some were misinformed, so I believe that ignorance or lack of knowledge is also a huge factor and an important player that makes most investors invest in shit coin, not just greed.

Lol.

I believe the $1 Million he get was from flipping meme coins, he think that he will be lucky in this time since Mbappe is really popular after he join Real Madrid, so he believe Mbappe coin will go to the moon.

But, huge return will require huge risk, unfortunately he's not lucky this time.

After all, he might able to flip his $9K back to $1 Million in Meme coin again.

There is no amount of research that you will do to know a new coin that is not a scam because you will still not know if it is or not. So many meme coins are out as usual and the devs are creating them to rug pull their investors. This is why I don't like investing on them but only bitcoin.

Anyone that feels he loves to try this new projects should only invest with the amount that he can afford to lose because you are gambling, so that you don't regret and lose your funds like the guy OP talked about.

There is a saying that experience is the best teacher, in the end i realized that it was useless to do anything or give input to people with bad egos, these people are basically greedy, and just let that greed teach him/her a lesson. Even so, we still have to continue providing education, because that is part of our efforts to mitigate a worse scenario.

Never mind, i'm tired, i'm tired of explaining to anyone that the gold (bitcoin) they are looking for is actually near or in front of them, but they prefer to be blind on purpose to feed their ego.

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.