Memecoins Vs legit Altcoins in 2023 - page 5.

Xal0lex

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Quote from: Newwifi on August 22, 2023, 08:55:06 AM

Meme coin does not have a blockchain.

For now, yes, but that will change in the future, as Shiba Inu has been preparing its L2 blockchain for a long time, called Shibarium. Even though this will be the first memcoin to have its own network, I don't believe that this is the reason why all memcoins are scams and useless investments. It's all about the very nature of memcoin being a short-term strategy. Of course, there are exceptions to the rule, such as DOGE, which has been on the market for 10 years, but all other memcoins are designed to be short-lived. Why would coins with short investment activity need their own blockchains. It is expensive and time-consuming.

Newwifi

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Meme coin has no future. Meme coin does not have a blockchain. There is no difference between total supply and circular supply. I would like to give an example that in 2022 I invested 2500 dollars in Goma shiba Inu. But by 2023, that has become 0. So what I think is that memo coin cannot be bought. Current status of memo coin. TOTAL SUPPLY
1,000,000,000,000,000
GOMA
HOLDERS
46,371
Market
FULLY DILUTED MARKET CAP
$0.00
CIRCULATING SUPPLY MARKET CAP

kawetsriyanto

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Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Since few years ago, we already saw many meme coins projects. You shouldn't be so surprised because there are many meme coins launched every year. Why there are many meme coins? You already know the answers, it is because they are easy to create and launch. Meme coins don't need WP, products, roadmap, or other fundamental factors. So, we can understand if it is easy to multiply meme coins projects. However, there are still some real projects that have good fundamentals. If you don't like meme coins projects, you only need to ignore them!

o48o

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Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I don't consider this unusual. There has always been a flow of memetokens, and since they are easy to make, there will be as many of them as you care to count.

Your feeds might be just be filled by them right now. As every time there's a succesfull coin or a token, there will be ton of copycats after it, trying to ride that wave as they can say that we are the new pepe or what ever. This is not just with memecoins. There used to be a country coins citycoins named after cities, politician coins named after politicians, just becuse it was hot.

Before Dash was called dash, it was called darkcoin, and after that mooned everyone wanted dark in their name, or a shadow or similar. It's just a trend. It will blow over, and then it will rise again after some other memetoken rises.

There are still ton of projects that have white papers and that are least pretending to solve real issues. Those are just now not as trendy so you have to look for them.

lixer

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Quote from: Godday on August 20, 2023, 11:25:54 PM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I thought since it's full of meme coins it would be a boon for legit altcoins. Because if there are too many meme coin projects, of course it will diversify and I'm sure there will be many failed meme coin projects later which will cause people's trust in legit altcoins to increase.

What you are expecting to happen in the future is actually happening right now, there are thousands of meme coins that are launched by god knows who because no one really checks who is the developer of a certain meme coin nor do the creators come in front saying that they are behind those meme coins knowing it can cause trouble if people make investments and lose their money and if they know who is behind that project, the creator can get in real trouble.

However, those who invest in these meme and shit coins are generally not disciplined and sincere crypto traders or investors, because a sincere and wise person wouldn't waste their money on a project where they know they can't get much unless it magically gains a lot of hype in the community.

Xal0lex

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Quote from: danherbias07 on August 18, 2023, 03:33:22 AM

Because it's easier.
Also, add the fuel given by the pump of Dogecoin and Shiba Inu. Even without an item or project that backs it up, investors are still buying it which I think is stupid.
But now, even if you debate with them, they won't listen, their minds are closed and they say it will pump later in the future. I disagree. These meme coins are manipulated by those with money and they can easily dump it all whenever they feel so.
That's the disadvantage of retail buyers. They don't know when it will be dumped and all they can do is be lucky enough to sell when there's a buying spree. Unlike other coins which can only effect a little when a whale sells because of the higher amount of retail buyers than them.

Retailers in any coin don't know exactly when the dump will happen, but does that put memcoins on par with the rest of the projects? The whole point is that memcoins can drop indefinitely because they have no utilitarian value. If a project has some utility, it will attract liquidity to the cryptocurrency and the coin will recover and continue to grow. Memcoins in 99% of cases have a irreversible cycle, once they collapse, they will never return to the price peaks they had before. It is easier to launch a new project than to try to maintain an old one.

Beparanf

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Quote from: Rabata on August 21, 2023, 06:53:27 AM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

There are several reasons for investors to invest in Memecoins. One of the reason is that meme coins have skyrocketing returns on small investments. That is, an investor can often dream of winning $10,000 or more with a small investment of $10. And this dream is not possible in the short term in any project other than Memecoins. We recently looked at some of the meme coins that exchange huge amounts of money every day. A while back we saw how bullish Pepe Coin. As the lure of investing in these coins works among investors, some scammers also take advantage of that opportunity to pursue their interests. Investors must be careful in investing otherwise they are more likely to lose.

The only catch on investing on Meme coin despite the attractive potential return that you mention is there’s a bunch of meme coin exists and most of them turn into scam. You will lose many times before you can find a meme coins that will give you profit, worst is you will never find the perfect meme coin before you lose all your investment on this typemof coin.

There’s still a lot pf altcoin projects that prints huge gain too especially on blockchain and defi projects when there’s still few of them available in the market.

Yamifoud

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Quote from: Rabata on August 21, 2023, 06:53:27 AM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

There are several reasons for investors to invest in Memecoins. One of the reason is that meme coins have skyrocketing returns on small investments. That is, an investor can often dream of winning $10,000 or more with a small investment of $10. And this dream is not possible in the short term in any project other than Memecoins. We recently looked at some of the meme coins that exchange huge amounts of money every day. A while back we saw how bullish Pepe Coin. As the lure of investing in these coins works among investors, some scammers also take advantage of that opportunity to pursue their interests. Investors must be careful in investing otherwise they are more likely to lose.

We can say - there is easy money out of these meme coins which gains more interest for most especially for those who believe about instant rich. Yes, we can't deny that there are a lot of people had made it good and earned more compared to investing in Bitcoin and altcoins, indeed meme coins beat them. But if we talk about the long-term, these meme coins are out of that competition, they'll just go after hypes and their popularity will be over.

Well, if we are really smart, we can take meme coins as an option but if we are focused on investing long-term, legit/potential coins offers something different and of course, at least have some assurance that it will never die.

Japinat

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Quote from: wxa7115 on August 20, 2023, 07:18:33 PM

Quote from: fzkto on August 15, 2023, 09:02:39 AM

If we consider meme coins globally, it is just a type of altcoin. Altcoins are risky investments anyway, so meme coins also have a high risk. But I would not say that only meme coins have no practical usage. In fact almost all altcoins don't have that. Most coins are created just for profit. There are thousands of different coins now and only a few have value. Even ripple in my opinion has no use.

True, however together with NFTs meme coins are the only coins which can openly claim to be completely useless and still attract millions of dollars on investment, the rest of the shitcoins we see on this market at least have to make it seem as if they could serve some kind of function to get access to that money.

It is because of this meme coins are becoming more and more widespread as scammers need even less time to release that kind of coin as they do not need to create a white paper with incredible claims or anything like that, they can simply copy another meme coin, change its image, promise that a lot of money will be made by those that invest in it and then earn a fortune.

That is expected because what can do they other than that anyway? As a memecoin, you surely don't want the same approach as a legitimate altcoins because it doesn't have any utility compared to the outstanding altcoins that has been on the top boards in the last couple of years. What you want is to copy these successful memecoins and have the same approach so that it can look that it does have purpose even if they don't have any.

Anyway, memecoins are riskier than these known altcoins and yet people/investors are still clinging on it with the hopes that they can ride the wave someday and generate big profits in just a short amount of time. I mean, who wouldn't want that? But it's sure is risky because nobody even these so-called experts can predict its movements.

Rabata

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Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

There are several reasons for investors to invest in Memecoins. One of the reason is that meme coins have skyrocketing returns on small investments. That is, an investor can often dream of winning $10,000 or more with a small investment of $10. And this dream is not possible in the short term in any project other than Memecoins. We recently looked at some of the meme coins that exchange huge amounts of money every day. A while back we saw how bullish Pepe Coin. As the lure of investing in these coins works among investors, some scammers also take advantage of that opportunity to pursue their interests. Investors must be careful in investing otherwise they are more likely to lose.

justdimin

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Quote from: zasad@ on August 10, 2023, 07:13:21 AM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

You say that the memcoin market is growing although you do not provide official statistics. I think that new coins are constantly appearing in this market, but only those users who are subscribed to special channels and news receive information about them. If you go to the communities of degen traders, you will also be surprised by the huge number of useless projects.

I do believe that if you spend enough time on researching coins, you will realize that memecoins are not there to make you profit, because that was never their intention and should not be considered a good thing at all. This is why you should be investing into altcoins.

However, there is an important distinction on this as well. We need to remember that this isn't going to be that easy, and we need to make sure that we are doing a good job of it as well. If we end up with a deal that doesn't really benefit us that much, like some shitty altcoin, then we will be making a mistake as well. So if you really want to make a profit, you should know what you are getting into and pick something that will profit you a lot more.

avp2306

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Quote from: aseprebel on August 20, 2023, 10:24:53 PM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Many memecoins have active and engaged communities on social media platforms and forums. These communities can generate a sense of camaraderie and shared identity among holders of the coin, which can lead to increased interest and investment.

It maybe increase the interest of investment since many will get attracted to the profit showed by other investors who came first while meme coin hype is starting up but once all is nearly done for sure many will cry about their financial loss on this type of investment since we all know that scamming will be the end point on all of this.

So better be careful on dealing with meme coins and only decide to hold those legit since they are more trusted or even more tested by many traders.

Godday

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Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I thought since it's full of meme coins it would be a boon for legit altcoins. Because if there are too many meme coin projects, of course it will diversify and I'm sure there will be many failed meme coin projects later which will cause people's trust in legit altcoins to increase.

aseprebel

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Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Many memecoins have active and engaged communities on social media platforms and forums. These communities can generate a sense of camaraderie and shared identity among holders of the coin, which can lead to increased interest and investment.

wxa7115

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Quote from: fzkto on August 15, 2023, 09:02:39 AM

If we consider meme coins globally, it is just a type of altcoin. Altcoins are risky investments anyway, so meme coins also have a high risk. But I would not say that only meme coins have no practical usage. In fact almost all altcoins don't have that. Most coins are created just for profit. There are thousands of different coins now and only a few have value. Even ripple in my opinion has no use.

True, however together with NFTs meme coins are the only coins which can openly claim to be completely useless and still attract millions of dollars on investment, the rest of the shitcoins we see on this market at least have to make it seem as if they could serve some kind of function to get access to that money.

It is because of this meme coins are becoming more and more widespread as scammers need even less time to release that kind of coin as they do not need to create a white paper with incredible claims or anything like that, they can simply copy another meme coin, change its image, promise that a lot of money will be made by those that invest in it and then earn a fortune.

danherbias07

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Because it's easier.
Also, add the fuel given by the pump of Dogecoin and Shiba Inu. Even without an item or project that backs it up, investors are still buying it which I think is stupid.
But now, even if you debate with them, they won't listen, their minds are closed and they say it will pump later in the future. I disagree. These meme coins are manipulated by those with money and they can easily dump it all whenever they feel so.
That's the disadvantage of retail buyers. They don't know when it will be dumped and all they can do is be lucky enough to sell when there's a buying spree. Unlike other coins which can only effect a little when a whale sells because of the higher amount of retail buyers than them.

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Quote from: wallet4bitcoin on August 15, 2023, 04:14:13 AM

Irrespective of the wave of memecoins in the space, I still hold legit altcoins projects in high regards. You see loads of memecoins being launched but go closer and see how many are actually rugs, honeypot and farm, if you properly analyse it, you'll stick with legit altcoins projects.

Many really want to speculate and hope that there will be surprises from the meme coin invested, although sometimes they are not sure that it will give something that is really expected. Of the many new coins that are present, it can be said that only a few meme coins are still able to survive; this indicates that it is too risky to hold meme coins. But it all depends on what he wants to do because he has the funds but misplaces them. I think what you said is very true. Do the analysis correctly and make sure you don't think about holding meme coins because there are still many other alternatives.

abel1337

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Quote from: bettercrypto on August 15, 2023, 08:43:24 AM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I personally think it's because the era of meme coins hasn't really arrived yet. So if we look back in 2017, ico projects became trending because many people made big profits from ico's, followed by IEO, IDO, then play to earn games using cryptocurrency also trended.

After this, NFT followed, then AI trended this year, and recently it was the Pepe coin, so probably when the bull run comes, it is possible that the time for meme coins will come.

I don't think so. We've seen several hype trend on meme coins before and I don't think that the effectiveness will be the same as the past upward price. I think that there will be a new trend upcomming that will rise in the next bull market. I'm trying to get a gist of the possible trend, I'm thinking about the airdrop projects now as they have a solid community right now but yeah we can't tell the future.

fzkto

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Quote from: GreatArkansas on August 14, 2023, 08:25:16 PM

Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

(....)
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Memecoins will continue especially bull run is near, look at the hype will come again just like what most memecoins did in the past, but be aware that you should exit early as possible.
Memecoins are risky, and new altcoins too. Meme coins are much more risky especially since they don't have any real use case.
So if ever you will find an altcoin, find altcoin that there is already a product and they are already solving real problems.

If we consider meme coins globally, it is just a type of altcoin. Altcoins are risky investments anyway, so meme coins also have a high risk. But I would not say that only meme coins have no practical usage. In fact almost all altcoins don't have that. Most coins are created just for profit. There are thousands of different coins now and only a few have value. Even ripple in my opinion has no use.

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Quote from: Jonyshake71 on July 29, 2023, 02:49:55 AM

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I personally think it's because the era of meme coins hasn't really arrived yet. So if we look back in 2017, ico projects became trending because many people made big profits from ico's, followed by IEO, IDO, then play to earn games using cryptocurrency also trended.

After this, NFT followed, then AI trended this year, and recently it was the Pepe coin, so probably when the bull run comes, it is possible that the time for meme coins will come.

Topic: Memecoins Vs legit Altcoins in 2023 - page 5. (Read 1311 times)