Topic: Memecoins Vs legit Altcoins in 2023 - page 6. (Read 1224 times)

Maybe it's because they see that meme coins are the easiest way to earn profit?

I mean I don't know the exact reason as well because I don't invest into meme coins anymore, so I guess its' the profits that cause these investors invest into it, and since investors wanted to invest into projects that can give them huge profits in a short amount of time, developers are taking this opportunity, creating a meme coin even though it doesn't have any use case at all, launching it to the public, and hoping that their memecoin/sh*tcoin project become successful like PEPE.

With the hype of meme coins slowly going down, I will not be surprised if there will be few, and few meme coin projects that will be launched until the end of the year. Overall, ever since it's been  hyped a few years ago, I already said to myself that I will never, ever invest into meme coins with the exception of DOGE. To those newbie investors, just beware because these scammers are taking it as an opportunity to scam you. Don't be an ignorant investor, and learn to research first before investing.

Certainly they will not waste their time creating such coins to gain nothing. It is profitable for the dev since many investors (especially newbies) prefer to invest in meme rather than to wait longer if they invest in established coins. What matter to them is to profit as fast as possible while ignoring the risk of losing their money.

Whatever the trend, expect the flood projects joining the ride (and in this case meme coins) so brace yourself because it's not going to end soon. One of the reason why we need to be careful when we invest since not all projects are worthy to invest in.

Memecoins are just a trend that will pass in a few seasons, that's why it doesn't have a strong background. So, I simply don't dive into it but make profit when it's possible

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.

It means bull market is nearly coming back that's why memecoins are left and right and it created a great hype towards the crypto market and of course it is a positive for the market. But always remember that memecoins are not for long, it is a hype coin that degens short term goal to make money quickly. As always go to solid projects for a long term run.

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.

Meme coins are probably the laziest projects a developer can create as they do not even need any technical expertise to do it, they can just copy the source code of one of the hundreds of meme coins which have been created, change the name of the coin, its logo and they have their meme coin already.

The difficult part is to try to get that community to support that coin, however even if not many people do as long as they can get some people to buy their coin that is more than enough to make some money out of them, abandon that coin and then create another hoping to strike rich this time around.

There may have various reason behind incident. Bear run is continue in crypto market since 2021 but i saw most of project dumped, and dumped more in 2022. Maybe seeing token sale failure due to dump market or seeing full of greedy people, project team decided to bring  memecoin as well as useless coin. Thus they don't need to invest much to create a meme token, Don't need to arrange a programme or Don't need to have a speech about their project among people in counties. No need to think about whitepaper or no hassle. See, how easy it is to launch  memecoin? But legit project also came like bounty combo listed on binance!

Memecoin is garbage, as you properly noted. These "investments" signify nothing in finance. That bitcoin popularity would rise in 2023 is unexpected.

Instead, the broad appeal to the public, which is more influenced by memes and trends than by competent financial advice, is the cause. Memecoins aren't serious enterprises with a clear future or realistic success chance. Compared to projects with whitepapers, roadmaps, and skilled teams, memecoins are created in an eye blink or faster.

I think its a trend that will slip away quickly. What grows it? Unexcited people may exist. A new toy is their desire. That may be all it is.

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.

not that they are trying to take high risk blindly, sometimes their relatively smaller capital than the other people are forcing them to find some investment options that could easily multiple their investment although risky, this is the thing with meme coins most of the investors are just some newbies and desperate for getting rich quicker.
they just disregard the chance of their investment vanishing into thin air, therefore why so many are still investing in meme coins until this day.
their small capital make them choose something thats faster to get the returns, unlike investing in btc and eth which rather requires some bigger investment to be meaningful.

Memecoin won't going to stop, i guess it'll be continued even after next bull session. Launching bags of memecoin theory is simple. People are involving memecoin more than before, investing blindly to multiple their Capital within short period. So why not scammers taking an advantage of this situation?? People don't want to go for safe investment like btc etc, they just want to take high risk. That's the problem.

As mush as we do not like the developers behind those coins, if there was not a huge demand for meme coins now then they will not bother on creating more of them at all, even scammers value their time and if they thought that creating a meme coin was a waste of time then they will not do so.

However as we can see they are flooding the market with useless coins and they keep doing it as the demand for those coins remains high, despite the lack of fundamentals of those coins and the significant losses they cause to the majority of those which choose to invest in them.

Many investors are investing in meme coins to get rich quick, so due to the demand, it's not surprising why meme coins are increasing. They're all similar, the price can skyrocket depending on its hype and the people buying the particular memecoin.

Moreover, some investors are still never learned from their past mistakes. They tend to join the ride whatever the trend is hence even investing in meme is risky, they just ignore it hoping meme is the answer for them to have a huge profit even for a short period. Thus don't be surprise for the current happening, every opportunity to profit the devs and investors will take advantage it.

The matter is simply that there are Memecoins that were able to generate substantial investment returns for their investors, for example, Pepe coin, which is the frog currency; after the currency got immense hype and attracted investors and topped the Twitter trends, the currency made 7,500x as a considerable investment return in a few hours for its holders, where one the whales bought 1.82T Pepe coins for $20, After a few days, the value of the amount became $150K. When hearing these stories about Memecoins, most investors want to ride the wave of wealth and generate huge returns like this whale, so you find there are new Memecoins projects in the market that compete with other projects coins that exploded and gained fame in order to take their steps and attract the eyes of investors who dream of getting rich quickly, so yes, this year was the year of Memecoins. We saw many, many new Memecoins that occupied Twitter and famous sites of news.

[1] The story of one of Pepe's coin whales: https://twitter.com/ArkhamIntel/status/1648305703746936833

2 reasons, people are dumb and people are greedy.  These projects are worthless and the only reason people put money into them because for some reason they think they are gonna get Rick quick off them.  They literally are just ponzis disguised as some sort of legitimate project.  Guaranteed in the long run everyone that puts there money in long term will end up rekt.

Every single year is full of meme coins being released, it is just that a great part of the community was not paying attention to them, however with the recent success of PEPE many investors decided to take a more detailed look at the many meme coins being released to try to find the next PEPE, and scammers know this and as such they have been trying to increase the visibility of their projects in order to attract naive investors and obtain massive profits for themselves this way.

Coin without a use case, no white paper, no road map, and the funniest part is that people are still investing their money in projects like that, I see it as wasting of money, because even strong altcoins which are having clear and understandable road map and use case, I don’t trust them not to talk of meme coin that will just come from nowhere and after little hype, it’s going to disappear again.

I don’t really know what people that are investing in it are thinking, but seriously I can’t invest in meme coins, I don’t even trust even strong altcoins but we all know that they are better than all this meme coins we are seeing in crypto space currently, people investing in meme coins are taking a great risk, I will rather leave my money in bitcoin and watch it grow gradually than investing in meme coin that can wreck me at any moment. I don’t have to warn anyone from investing in meme coin because i notice most people investing in it knows the risk but they are just looking for quick money.

We know that when it comes to this market then we do really have that kind of different trend on which it would really be just that normal that meme coins does have its own trend and moment on which it would really be surpassing out the number of legit projects but there are some meme coins that would be heavily be supported and later on it did really make out that some kind of utility on which it do really ends up on being a not a meme coin anymore and just like on what we do see on SHIB and now that the current hype would really be on $PEPE which we might be seeing some another usecase if this one would be mainly supported and it would take a while for it to be sitting on the top in terms of value or whatsoever but of course everything is something that cant be sure because this market is always been that unpredictable and there's no way on knowing on what would be the teams next step when it comes to project progression. In investors point of view, then it cant really be avoided that putting up some investment on meme coins could really make you interest in, considering that pumps could really be leading up to 10x or even more on which if you do able to get in on the right time then you would really be finding yourself to be that rich but depending on how much you had invested though
but there are moments that even a few hundreds could really make out millions and this what makes people interested in on testing out on putting out some money on memes.

There is no new altcoin memecoins that should even be in the same sentence with the word stable.  These coins, yes all of them, can nose dive at any minute.  The people creating them are just preying on the greedy people who will throw theor money into anything.  It's kind of sad