You probably know that almost all new meme projects are coming out now. Do you think it is really risky? what effect do you think this could have for the bull market!
My opinion is that if there is a bull run, then meme coins will go up, but not vice versa... We follow the growth of Bitcoin and immediately everything else will go up, there is no longer such a hype in the world for meme coins that they would somehow influence the market , and in principle there wasn’t. Of course, anything can happen, but I no longer believe in them, as in principle many already do.
I agree your viewpoint that Bitcoin is the primary and dominant currency in crypto space. Alts coins including memes coins generally following the trends set by Bitcoin in the market,. Bitcoin is like the locomotive of crypto currencies train, if the engine doesn't move, the other train cars stay still.
Indeed, it is also true that there are individuals who made substantial profit by investing in meme coins during the bull run in 2021, Doge coin is a good example, but also there are significant number of investors ended up losing their life savings due to sharp fall in their value during the bearish phase in 2022. Hence, caution is advised when investing in such high risk coins.