Number of new memecoin traders hits record high

jrrsparkles

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Quote from: beerlover on April 09, 2024, 12:18:24 PM

Quote from: jrrsparkles on April 04, 2024, 12:18:09 PM

Personally, I never considered memecoin for long term investment but nowadays, people are going after every memecoin with the hope of changing their life like we see some stories online but in reality only few can make such profits while others are going to lose just like every investment, so I wanted to ask how to you see this craze for memecoins in the recent days.

Hyped people number reaches a new record high you mean? I mean lets be honest, these tokens are not there for investing, they are there because people think that you could make some decent return from it and nothing more. I have realized long time ago that we are not going to end up with anything that could be a little different.

I am very well aware that it is not going to be easy, it is just not going to be all that complicated if we let it be, so we should probably consider the problem of memecoins to be regards to people themselves and let them do whatever they want. I have seen THOUSANDS of people begging Elon to tweet about doge because they lost all their life savings, if you are fine with that, go ahead and invest.

Doge coin was considered as one of the coin for long term even after the founder moved away from the project and before the Elon Musk interfered with memecoins but from that moment the real craze started, which took the memecoins to its next phase and resulted in the emergence of hundreds of new memecoins. Anyone who invest on memecoins should know that they can lose their capital completely or make a fortune for their life.

Mate2237

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Quote from: electronicash on April 09, 2024, 02:50:34 PM

holding for a long term seem not the right thing but i understood some are doing it. the dogecoinmillionaire still holds his doge since elon hyped it. his money shoot to more than $3M the time when elon was on SNL and from there his doge value shrink below $1M.

regular people buying a lot of memecoin and holding them for longterm looks like the memecoin are going to scam a lot of regular people who wants to be a millionaire thru memecoins.

I might agree with you because for the time being when I have been invested to some of the altcoins I don't think long-term hodling is really good with altcoins because the movement is too slow but in other way round since the movement for altcoins are very slow then long-term hodling is also good for them who are holding for long-term because short term can't produce any tangible amount for them so instead it is better for them to invest in long term so that small things as profit can come it.

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Quote from: JeffBrad12 on April 09, 2024, 12:53:36 AM

one of the main reason are those success stories shared through social media platform like twitter where people flip $100 into millions, even though its rare enough that the chance of us being that person is low people still trying to invest in it anyway thinking its okay to lose a hundred dollar for the sake of life turning opportunities.

I think sometimes this stories are wrong or the wallet that turned a small investment into those high profits are wallet of closed relative to the memecoins founders or part of the teams. The stories are everywhere and now many individuals want to also make that big profit therefore they're investing in memecoins but also losing money. Memecoins has made more investors to lose then those that are winning, still individuals will be investing in memecoin as bull market comes.

But there are also those that are very lucky and they made big profits from investing in memecoins therefore not all the stories are fake or made up but alot of the stories are as they're posted on social media and there's no way to verify the identity of the individuals that claim to be making the big profits. Memecoin are also very easy to relate to that's why many individuals are picking interests to invest in them.

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holding for a long term seem not the right thing but i understood some are doing it. the dogecoinmillionaire still holds his doge since elon hyped it. his money shoot to more than $3M the time when elon was on SNL and from there his doge value shrink below $1M.

regular people buying a lot of memecoin and holding them for longterm looks like the memecoin are going to scam a lot of regular people who wants to be a millionaire thru memecoins.

beerlover

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Quote from: jrrsparkles on April 04, 2024, 12:18:09 PM

Personally, I never considered memecoin for long term investment but nowadays, people are going after every memecoin with the hope of changing their life like we see some stories online but in reality only few can make such profits while others are going to lose just like every investment, so I wanted to ask how to you see this craze for memecoins in the recent days.

Hyped people number reaches a new record high you mean? I mean lets be honest, these tokens are not there for investing, they are there because people think that you could make some decent return from it and nothing more. I have realized long time ago that we are not going to end up with anything that could be a little different.

I am very well aware that it is not going to be easy, it is just not going to be all that complicated if we let it be, so we should probably consider the problem of memecoins to be regards to people themselves and let them do whatever they want. I have seen THOUSANDS of people begging Elon to tweet about doge because they lost all their life savings, if you are fine with that, go ahead and invest.

jrrsparkles

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Quote from: Mate2237 on April 08, 2024, 03:29:16 PM

Sometimes I even say it is the bitcoin network congestion that caused the the rapid increase in these memecoins in the ecosystem, from January to March 2024 was a evolution of memecoins and airdrops. There was no too increase in them last year though few came out but most of them that I saw last year were already created before last year but we're not active or others. And because of the congestion of bitcoin network and the high fee, people started to ave invest to invest in other altcoins and when Ethereum and Solana have their network congestion issues then the new birth of memecoins arise.

Congestion on the bitcoin network contributed to the emergence of meme coin crazy but for now, it's hyped all around social media and lurking new investors with attractive stories as 100 to 100K which is enough to convince the retail investors to throw some money and almost like a gamble. As mentioned above listing those projects in the top centralized exchange is the real game changer which shoot its price over unexpected level.

JeffBrad12

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one of the main reason are those success stories shared through social media platform like twitter where people flip $100 into millions, even though its rare enough that the chance of us being that person is low people still trying to invest in it anyway thinking its okay to lose a hundred dollar for the sake of life turning opportunities.
personally I see these meme coin trend to be lively again, right now even in base they are starting to make so many meme coin in the market and they usually have quite high trading volume.
its definitely a place where people that tries to speculate hard trying to be millionaire overnight where so I can understand why it hits record high.
not to mention the fact that big exchanges like binance, bybit and so on are listing in like basically whatever meme coin thats trending that can have high trading volume comes up they are the one that tries to list it first so to gather new user as much as they can as well as benefitting from the fee.

albon

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Quote from: jrrsparkles on April 04, 2024, 12:18:09 PM

Personally, I never considered memecoin for long term investment but nowadays, people are going after every memecoin with the hope of changing their life like we see some stories online but in reality only few can make such profits while others are going to lose just like every investment, so I wanted to ask how to you see this craze for memecoins in the recent days.

Of course, meme coins are not considered safe investments, as they are among the risky investments. These meme coins cannot be trusted in their capabilities and survival in the long term or in their prices continuing to rise. These people obsessed with these tokens use them to speculate and achieve huge profits in the short term. I have seen many similar stories of people who could transform a small capital into a large one in less than a month. With the emergence of these stories, new investors are rushing to demand the purchase of these tokens, which leads to an increase in the number of its community of interested people and its acquisition of hype. There are many meme coins whose names emerged this year, and their teams succeeded in listing them on the CEX platforms and fulfilled their promises. Still, most of the new meme coins are honeypot currencies, and they have a very high sell tax; even if no one can research and audit the contract, he might end up with a scam coin.

Indeed, the craze these days is very high, as meme currencies have captured investors' minds now, and you may find more frenzy around dog meme coins as the Dogeday event approaches.

Mate2237

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Sometimes I even say it is the bitcoin network congestion that caused the the rapid increase in these memecoins in the ecosystem, from January to March 2024 was a evolution of memecoins and airdrops. There was no too increase in them last year though few came out but most of them that I saw last year were already created before last year but we're not active or others. And because of the congestion of bitcoin network and the high fee, people started to ave invest to invest in other altcoins and when Ethereum and Solana have their network congestion issues then the new birth of memecoins arise.

And as it is people are investing in memecoins very well and they are not even concern of the risk again. The new investors are even saying that the memecoins give them quick profit than the major coins.

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Old investors and traders mostly stay away from meme coins but new investors are easily attracted by them because they are usually greedy and the purpose behind them joining the market is to earn a lot of money, so they invest in any cryptocurrency they hear about which has a chance to provide them huge returns and meme coins are famous for making that happen which is why every new meme coins is attracting so many investors.

I don't understand how people gamble with their hard-earned money knowing that they can also lose their money if the token or coin they are buying doesn't perform up to their expectations or doesn't perform at all and they have all their money wasted, but they still keep investing.

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at this point we see that many people who want to get involved in cryptocurrency are gambling and want to get rich in a short time with the meme tokens they bought. this is quite funny, seeing that the meme token does not provide any benefits and its use is very limited. it is also very tied to speculation and people who play it are just gambling their money. but even though they understand this fact, these people still buy meme tokens and hope that the tokens they hold will become dragons and make them rich overnight.

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Quote from: R1dwanRz on April 05, 2024, 11:00:02 AM

Memecoin is like gambling. Just think as if it were poker, cards. I don't really invest much to it but recently they've been blowing up on Solana chain. I am curious to see where they go in future. People should do their own research and invest that they can afford to lose. But there's a saying, take some risk if you have to gain stuff.. (Not an advice lmao)

Meme coins are not trusted coins but many people have taken profit through meme investment so I think currently the risk is not higher therefore don't think about the risk now and choose one or two most successful meme coins and when you get profit then sell it without holding it longer.

If you search more and more about meme coins your will feel disappointed as its future is unseen and its surge does not remains forever like that of bitcoin, Ethereum and BNB. So if you want to invest in meme coins then choose little sum of money and don't hold longer because its success guarantee is zero.

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Quote from: Asiska02 on April 04, 2024, 12:28:42 PM

With the recent and dramatic increase in users holding meme coins, it is already passing a big message on how cryptopreneurs are ready to sacrifice some bucks in this coins and hope to get a big cash out from them in the short possible time. We have witnessed and seen how meme coins have been performing in the market with few only making it to the next bitcoin cycle. They are mostly pump and dump projects that can make you rich overnight or make you poor overnight. The interest of people in it shows how a lot of people are ready to risk their monies to get big gains in the end. I wouldn't say it is not worth trying but it is only possible if you have the zeal to do it. Nothing comes easy and most life changing opportunities always come with you taking a lot of risks in it. I still believe there are a lot of meme coins that will change a lot of people's life this bull run but while looking to invest in one and the one you are convinced about, make sure you invest what you can afford to lose.

I think some memecoin like DOGE, FLOKI, SHIB and PEPE that has good mcap are a little secure to invest in but the will certainly not bring the kind of profits new and emerging projects will bring. I have observed that once BTC start moving, this four memecoins also followed the trend. The recent memecoin project evolving from Solana ecosystem is been crazy but just like you rightly said, one should invest what they can afford to lose but unfortunately, most people are always optimistic that this new memecoin will make them rich. Sadly the victims of the dump is those that wait to buy from CEX. Most people already made money and take profit before some of this project make it to CEX.

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R1dwanRz

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Memecoin is like gambling. Just think as if it were poker, cards. I don't really invest much to it but recently they've been blowing up on Solana chain. I am curious to see where they go in future. People should do their own research and invest that they can afford to lose. But there's a saying, take some risk if you have to gain stuff.. (Not an advice lmao)

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Meme Coin has no trust. Its market is pumping and dumping. It reads as an uncertain coin. But I wouldn't say it's not worth investing at all. Because many people are getting a lot of profit by investing in meme coin. But that depends on luck I think. Because most of the meme coin investors have been victims of scams. But there are many who have benefited a lot by investing in meme coin. I think it is better to know and then invest before being attracted by meme coin ads.

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Quote from: jrrsparkles on April 04, 2024, 12:18:09 PM

Number of new memecoin traders hits record high

Personally, I never considered memecoin for long term investment but nowadays, people are going after every memecoin with the hope of changing their life like we see some stories online but in reality only few can make such profits while others are going to lose just like every investment, so I wanted to ask how to you see this craze for memecoins in the recent days.

I see this for what it is, the majority of those which are investing in meme coins do not really know what they are doing, this is similar to what it has happened on every single bubble on the past, in which some people see others making a lot of money and they want to get the same results.

But since they do not know anything about investing, they do not understand that those profits come from people like them that invest at the peak of the movement and lose it all when the coin in which they invested takes a nosedive.

FinneysTrueVision

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Now that the Ordinals and BRC-20 hype has quieted down, people are moving on to memecoins. Like many of these past trends I expect meme tokens to be a temporary fad. The coins that were launched in the previous bull cycle have mostly disappeared or drastically fallen in price.

The media will give a lot of attention to the few cases where traders earned millions from really small investments, but we don’t always get many details into the circumstances that led to that profit. It’s possible many of these situations could just be organized pump and dump scams where the price was artificially inflated to draw investors before whales with insider information dumped on them.

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Quote from: electronicash on April 04, 2024, 12:41:01 PM

they see the success of Doge and Shib still is on top of its game even in the bear market and this i guess made them think it's a good investment if it goes up again. but for long term i think this is for the gullible mind to think holding it for long term is a good strategy.

Well! if you have some money to spare on these altcoins, it's best to also join those guys. Still, you just need to be careful and know when to sell it at the right time because this is not like your regular altcoins where they develop and introduce new updates and use for their coins while knowing that you can ensure that you can hold those coins for long unlike this one, most of those meme coins after their hype, they have nothing to offer. Their investors will start to disappear one after another and if you are left behind, you will take the blow and you won't get your capital back.

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Let's remember that for every success story, there are likely many more cases of loss. Those who invest in meme coins should approach with a clear understanding and recognition of the risks involved. For me, it's a gamble, with enticing stories of life-changing gains. But there's some truth to the greater fool theory with meme coins; someone might get lucky early on, but it's not sustainable for everyone to win. I'd be more comfortable with a memecoin that has some kind of utility or an established development team, rather than just riding the hype or FOMO and being used for short-term profit or a get-rich-quick scheme.

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