As you said yourself meme coins are more of a pump and dump scheme which the big brother used to lure naive investors in and send it holding. If you guys check the concept of this coin every well you'll see that it is just a coin created for the big brothers to enrich their purse while some people are set as prey.
Therefore, a plan of getting in quickly and getting out could be problematic so is using someone else success to make an investment decision.
There are people who do really plays on the top and those small frys would really be the ones who would fill up their pockets but doesnt mean that we wont really able to take up some advantage out of those movements specially on pumps and dumps.
If you do know on how to play with those then you could really take some profits if you do know on how to ride with the waves.
Take risk or you do just let those opportunities slip into your front.
The last time I checked no matter the level of experience in crypto no one knows how to ride with the waves of cryptocurrency just by investing in meme coins which are highly manipulated and mostly make new ATH during the Bitcoin halving effect market.
Meanwhile, the first rule of riding with the waves of the cryptocurrency market is to invest in good coins, not joke coins.
For some its considered a joke, but maybe for others who are making profits already, then they are thinking already that meme coins have high potentials to make profits once they are used in trading. Its kinda quite funny but true. No one would dare to trade with meme coins if they are not really making profits from it. And for me, its not a bad idea as long as you are seeing them having potentials, but believe me they are very risky to trade. Yes, i would rather trade with bitcoin and promising altcoins even when making profits is not that easy but i believe at the end of the day, i will still be profitable. Unlike meme coins, there will be more chances that you'll likely to lose than to gain profits. Lucky are those who have made them profitable.
If you are active on Twitter you'll see countless influencers that hype meme coins, what I am trying to point out is that its not everybody that trades meme coin does it because they are making a profit through it because some do it through what they read from some influencers.
I think we need to be honest here mate, how many meme coin potentials have actual potential? They are all pump and dump based.
But unfortunately, joke coins these days are now becoming trending and are even making profits in this crypto market. Although its more pump and dump and has no utility case, but i guess people don't see it the way it is.
Believe it or not, the big boys behind the meme coins are using the same strategy which is overbought the coin, pay influencers to make it go trend so they can lure naive crypto investors who are after profit in and later dump the coin when the traffic is high but it hurts that most crypto enthusiast easily forgets this and blame it on market volatility.
