Memecoins Vs legit Altcoins in 2023 - page 8.

nelson4lov

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Quote from: TravelMug on July 29, 2023, 03:01:10 AM

I don't think that meme coins launching will simply stop, and as you have said, it's been growing in the last couple of years. And the reason simply is,

This meme coins are a magnet for easy money, I mean the developers can launch it and just used the social media to create a hype and then investors suddenly flocking in hope on a easy money profit. Admit it or not, this has been the formula ever since. The thing is that many noobs are also thinking this way so they might join the meme coins craze. Unfortunately, if you don't know how the game is played then they might lose their money and they could be the victims in the long run. So for me it's not advisable specially if you are a newbie to just follow meme coins and invest and then hope that you will get x10 or higher profits.

As long as decentralized systems exists that allows for permissionless token creation, we'd still see the memecoin and shitcoins narrative gaining traction. It's even of the very few reasons why new bitcoin and crypto enthusiasts are getting involved - Because they have seen or heard about people getting rich quick from those shitcoins projects. On the flipside, the narrative driven by this memecoins/shitcoins give crypto a bad overall outlook. Definitely leaves a sour taste in the mouth of many when such projects fails.

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The uncontrolled release of meme coins started since Elon Musk and the doge pumping. Since then shiba, floki, babydoge and other meme coins have appeared. Now this trend has started again after the success of pepe. I think it won't stop in the future because these coins are easy to create and will be bought if there is good pumping sometimes.

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

What do you think? Why memecoin launching is increasing so much in this year?

During the year close to halving, these coins that are pump and dump are pushed into the market and you know the reason. It is for the bull season being expected. If bitcoin increase in price, every other coins have price increase also. Developers get more profit during this time because they and team will dump the memecoins and other shit coins to your face and so those who bought at high price will only feel scammed because the coin will lose value afterwards.

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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?

Memcoins have been stamped on an industrial scale since the SHIB hype. They appear steadily every day, and consistently in large quantities. This is because creating a memcoin is the easiest thing to do, it takes a few minutes for experienced developers. I don't agree that it started to spread in 2023, this phenomenon is already several years old. It's just that few people paid attention to it due to low interest, but the hype around PEPE has changed the situation a bit around the attention to memcoins, but it hasn't changed the situation around the creation of memcoins themselves.

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As we know, in the last bull run, investors made good profits with meme coins. That's why many developers are also focusing on meme coins because they believe that this time investors will again trust meme coins. Therefore, we are observing the emergence of numerous new meme coins in the market. However, to be honest, I have more trust in altcoins than meme coins.

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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 cheap copies for everything. And as some meme coins rose to fame, 100s of their cheap copies follows. But one thing that distinguish a good meme coin with just a meme coin for sake is meme coins do have a plan (a small roadmap). They might not have a white paper or a dedicated experts team to boast about but good meme coins would have plans to rise and stay at the top. Or live shibainu, they may keep on evolving on it. Overall, meme coins are much riskier genre of crypto and should be studied properly before investment.

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Meme coin are a pump and dump coin. So I am not surprised if you say so because scammers and get rich quick actors are always ready to take advantage of the situation to makeore money from the newbies in the system. For sometime now it seems meme coin are taking position in the crypto market with good outcome from holders who kept promoting it as a result of what they have benefited from it. Celebrities too who support and promote meme coin are another reasons why the meme coin are still doing much well in the crypto market.
Memecoins do not waste time to grow very fast compared to legit altcoin which would require time to build and nurture to the final stage before it starts utilising it's potentials in the market. Just as you have said, legit coin takes time to be build as a result of the nature of their projects but memecoin doesn't need such as it is a hype type of work to gain attention of big names to aid in providing promotional content for which they would be of great benefit from.

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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 wonder why there's been such a significant increase in memecoin launches this year. Is it driven by the popularity of meme culture and the desire for quick gains?

Yeah, I think that is one reason, easy, fast money for this developers and with less capital as well. They don't need to shell out huge money to promote, just some social media hype and that's it, almost all speculators are ready to jump it with this meme coins.

But it is still a gamble though, perhaps before the hype on Pepe, there could be hundred of meme coins in the past that never made it that far and just die a natural dead. So it's a combination of pure luck and then hyping the next meme coins and then speculators finding it to pump & dump that make meme coins significantly increasing in the crypto space.

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

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?

memecoin is the fastest way to profit now, all you need is diligence in promotion, you do not need to have a white paper, you do not need to have a project, idea or development team, you need promotion, money to pump the currency and promises that you will become rich from investment and then you will achieve success.
These projects are becoming more like a new Ponzi scheme.

Altcoins their basic philosophy is that they give you projects that perform better than Bitcoin in the short term and therefore they sell those cryptocurrencies to you and buy Bitcoin from you in return, and you believe that the performance of these currencies against Bitcoin in the short term is better and then you buy them, but in fact the performance in the long term is very bad.

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

It seems, this year will be full of memecoins. What do you think?

Not meme coins but more with AI projects.

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

Why memecoin launching is increasing so much in this year?

It's because of the investors that have stuck their minds into meme coins that will skyrocket on the bull run. People can't get over with the past that most of the meme coins have made a lot of money and that's why everyone is still on it. Up to what you believe if they're still a thing this time or not but as much as you want to get into these meme coins. Be sure that you know what you're investing because most of them are plain pump and dump tokens and that's no escape if you have already bought a random meme coin in dexes and cexes that you are not aware of.

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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 think that meme coins launching will simply stop, and as you have said, it's been growing in the last couple of years. And the reason simply is,

This meme coins are a magnet for easy money, I mean the developers can launch it and just used the social media to create a hype and then investors suddenly flocking in hope on a easy money profit. Admit it or not, this has been the formula ever since. The thing is that many noobs are also thinking this way so they might join the meme coins craze. Unfortunately, if you don't know how the game is played then they might lose their money and they could be the victims in the long run. So for me it's not advisable specially if you are a newbie to just follow meme coins and invest and then hope that you will get x10 or higher profits.

Jonyshake71

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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?

Topic: Memecoins Vs legit Altcoins in 2023 - page 8. (Read 1311 times)