Topic: So we've gone from 1 meme coin to one hundred now ? (Read 719 times)

Im sure about that so many developers are always imitating from one to the each other as long as there would be a successful project. It's a common thing in crypto when developers are wanna be successful even some of them are also scamming investors.
People must aware that if there are only few trusted meme tokens from bunch of meme tokens that exist in the market.
I think that this is become a common knowledge in the cryptocurrency since so many people are also seeing meme tokens as investment.

Crypto/Blockchain tech is open source and decentralized, so there's nothing stopping developers from creating a new "meme" coin and launching it for public use. The more coins there are, the stronger Blockchain will become. The diversity of crypto projects helps developers learn from their mistakes and improve Blockchain tech for the better. Competition is healthy, as it's always said in the real world. If there was only one coin in existence, how would innovation be spurred across the crypto/Blockchain space?

What matters is not quantity, but rather quality. There are so many coins out there, but not all of them are worth it. I'd say Dogecoin is the "quality" coin because of its tried-and-tested blockchain network unlike any of its competitors. The rest are simply junk. People are free to decide which coin to invest into, so the market will tell us which "meme" coins will go away and which ones will persist. Who knows what the future holds for the entire crypto/Blockchain space? Just my opinion

When there is a successful Shiba and Doge it will inspire people to follow it, the easiest thing to succeed is of course by imitating a project that has been successful, to create new things of course it takes a long process and time, and now it's natural that there are hundreds of coin meme projects so that makes us always have to be vigilant if you want to invest.

Yes, there is logic in your word that those coins already got its expected results. But if you want to buy meme coin, which meme coin should you buy? There are many meme coins in the market, choosing the best coin is not an easy task. Moreover, such coins are usually scam projects most of the time. In this regard i refers to Doge and Shib both are reliable meme coin in the current market.

Plenteous is the beauty of any game, especially when it comes to business. That's why they say, "the more the merrier". A situation like that helps healthy competition. You can't have a monopolistic market and expect a fair competition that will benefit consumers. The preponderance you see now with memetokens is the same with other tokens in different categories. One developer goes in to test the waters and then several others join in. It has been the pattern. In January 2017 when I came into this industry there were around 750 cryptos in the market. How many do we have seven years later? Coingecko reveals nearly 13,000 of them as of today.

Again, talking about risk with memetokens, you should know that everything in cryptos is all about risk. It doesn't matter the category the token you're looking at falls into. Bitcoin isn't without risks to start with and that's why investors are advised to only invest money they won't regret losing.

Therefore people who from the beginning entered the crypto world just because they were obsessed with big profits, I'm sure that person will look
for projects that can provide large profits in a short time. After what happened to Dogecoin and Shiba Inu which in 2021 managed to hype and
provide big profits for some people. That's what causes a lot of new meme coins to appear, whereas the developers of the new meme coins only
take advantage of the FOMO that occurs in the meme coins for their own benefit. In the end, more investors suffered losses than investors who
managed to generate profits from meme coins. That's because the meme coins created are only for pump and dump scheme, but what is sad is
that many investors, especially newbies, don't care that many new projects have sprung up, only copycat from previous projects.

The conclusion is don't invest following our greed, it will only make us choose the wrong projects for investment. Don't be in a hurry when investing
in crypto, make sure we do research and analysis first to make sure we invest in potential coins. It is better for us to invest in potential coins with
a small profit, but it is safe because we can generate sustainable profits. Instead of forcing to look for meme coins that promise big profits
but big risks, we can lose all our capital.

This is the most likely scenario, the average investor that comes to this market doesn't really care about the technology behind cryptocurrencies anymore, they care about one thing and one thing only and that is to make profits.

And if investing in meme coins is believed to give them the greatest chances of accumulating a lot of wealth in a very short amount of time then they're going to keep investing in those coins regardless of our warnings, and even if the majority of the people investing in those coins lose money as long as there are a few lucky ones that make it big that will be enough to feed the dreams of those people, even if we know that there is nothing behind meme coins and the majority of them will collapse in less than a year.

Many meme coins are existing because people are following the hype but it doesnt mean its a good investment. Many investors already lose for taking risk investing in meme coins but missed to sell when the price already hit the ATH thinking it might increase further. Go to Shib or Doge if you like to include some meme coins in your portfolio.

Its good that you profit but its risky. You'll never know when will the price might plunge. Its not sustainable to hold meme coins for long term because they're only existing due to hype. Thus its advisable to get out if you already profit and invest in other coins that has use case.

I won't talk about doge, because doge is the great meme we have but what about Shiba, don't you think it's good? Originally it was just a meme project based on the popularity of doge, but now with the vision of building its own chain, its own shiba ecosystem, the future of shiba is also very interesting if it goes as planned.
Although many people talk about its supply being too large, IMO supply is not the main factor to judge the potential of a token.

The more you invest into "meme" coins, then higher the risks of loss will be. These type of cryptocurrencies are only driven by hype (meaning they could lose traction quickly if people move on to the next big thing in crypto). I'd choose solid cryptocurrencies with a proven track record of development and innovation, not something that's speculative by design. Bitcoin and Ethereum is all you need to achieve long-term financial prosperity. The rest of the coins are just a gamble.

Among the pack of "meme" coins, I believe only Dogecoin will survive because of its established presence in the crypto/Blockchain space. It's one of the oldest cryptocurrencies with one of the biggest communities in the industry. Price-wise, DOGE hasn't delivered that much, but in terms of stability/reliability, it's better than any other "clone" trading on the market today. Everything's open-sourced and decentralized these days, so I wouldn't be surprised if new "meme" coins come up every once in a while. Just my opinion

While I would not recommend to anyone to invest in meme coins we need to be fair as well, all investments are a zero sum game, in order for you to make any money with bitcoin then someone else has to lose it and meme coins are not an exception to this rule.

The reason we must stay out of meme coins is that there is nothing behind those coins, the developers of those coins are just hoping that at some point their project gets popular and its price goes up, it is because of this that we now have so many meme coins, as anyone can create them as it is as easy as to copy and paste their source code and then create a new coin, so with this in mind it is better to stay way from those coins and avoid throwing our money away in useless projects.

Hundreds of meme coins already existed before Shiba Inu. It is nothing new. It is only people started to realize/notice meme coins after doge coin started to skyrocket. It became a trend when Shiba Inu made incredible gains and people started to invest in those meme coins just to lose everything and get scammed.

And no, you don't make best gains when the meme coin is ranked at that number you randomly posted. Any meme coins can reach that number by artificially pumping the price.

You can compare them to the metaverse, NFT, ICO, IEO - they all keep on growing almost every day, and look, the majority of them are useless.
What I can say is that we have to move one and ignore them if possible as we can never stop people from creating meme coins or whatever it is. Just think about Bitcoin and ETH, and focus on them. I believe this will give peace to your mind.

Well, only potential projects will survive while these worthless projects seem to go dead.

shiba inu and doge is better investments than the other meme coins since they are heavily manipulated.
at least with SHIB and DOGE it's listed in many exchanges that I doubt it could ever scams you meanwhile most of meme coin just trying hard to take your money away either through scams and rugpulls.
by far you better off with SHIB and DOGE if you don't intend losing your money.

Whether you do make yourself get involved with meme or top coins the risk would be always there but somehow the risk level would be different basing up on the community support or overall liquidity then we could really say which one would be worth and which one wont be good for long term aspect but if you do know on how to play with the price in short term aspect then its your choice whether you do want to play or not.
Its not surprising that there would be lots of copy cats that we do have in the market because once a coin type had become popular or gets hyped then expect that there would be lots
of similar that would pop in the market and join in the hype and newbies do love on buying randomly. lol

Shibainu is not even the first meme coin in the crypto space. DOGEcoin was the first to come and thanks to Elon Musk who promoted it to become generally accepted in the Cryptocurrency space. Elon's tweet at the start of SHIB was also instrumental to its acceptance. Every other meme coins are really doing well because meme coins are mostly the ones used to scam unsuspecting investors whose fund are rugpulled.

And now I believe the meme coin the Cryptocurrency world is waiting for as arrived and it chooses to be the first on the Polygon network.

it's okay to choose meme coins for day trading and for quick profit. but at least you have to see the big risk you have to bear yourself when the meme coin will finally run away from you.
i'm not saying meme coins are too bad but everyone knows the dangers of investing in some of those meme coins. maybe you are currently earning $50 in just 1 day, but don't know what will happen once you put more money into the coin. because usually when you get a decent profit from day trading, you will add your money again to buy more coins and hope to get a bigger profit.
one thing you have to remember is to do some serious research before starting trading on some meme coins

I have seen 100 other projects only with the name Shib and doge. Investing in meme tokens is high risk. If we look back a few months ago, there were maximum meme tokens and almost all of them are now dead. The owners of the meme project copy the name from recent hyped project, I don't know why it is so necessary for them.

Yes, the memecoins are just copycats and doesn't have any real-time usage. These are just hyped and are pure gamble. Some get lucky to make good return out of the Investment over these memecoins, whereas the majority loss the investment. In my view buying memecoins is a good choice, but the same needs to be considered as a lost money. Because, there is no assurance of profiting.

Just consider yourself lucky.  Any meme coins ranked 800 or below are most likely just scams and you will lose all your money.  Just because 2 that you picked went up (in the short term) doesn't mean this is the smartest strategy.  If you gamble with too many of them you eventually lose your whole stack.