Bitcoin Forum

hey guys, been seeing lot of threads/posts about memecoin nowadays. It has became talk of the town, especially since memecoins getting more hyped due to celebrities launching their own token and solchain has become the hub for memecoins

Now I don't really trade a lot of memecoins, except some new ones and old ones like DOGE, pepe etc. But today I saw a new memecoin on sol chain listed on Bitget and mexc already, it made me post about it becuz of what they offered on project, So this was the LAIKA token and if y'all know memecoin usually starts with a story behind it. And this one with the story of Laika, a stray dog from Moscow sent to space.

Now am not gonna bore y'all with some story, but the team of this memecoin brought a whole ecosystem and utilities for the token, like they already launched their own wallet on Apple store & google play already and they already have a metaverse game that can be played in a web browser. they also have an upcoming free-to-play mobile game soon. I think these can be considered as utilities, since it's more than just a memecoin.

so don't you think it's good to have such usecases for a memecoin like this? as giving holders more options to hold?

It would not longer be a memecoin when it has utilities but I don't think we need more metaverse games or wallets because the market is filled with such project hence it would be wonderful if projects comes up with something which would help us real time and make our jobs easier or more productive. I wouldn't invest in replica projects and not gonna indulge in gamble sort of SOL chain memecoins.

Yeah, some memecoins actually do have some usefulness, even if they started as a joke.  Take dogecoin - it began as a total meme joke about a viral dog picture.  But now it has gone legit in a few areas.  Folks use it for tipping creators on social media or whatever.  A few online casinos taken dogecoin too for bets and some companies now even let you buy real physical items with your stash of dogecoins! So turns out some of those silly coins can evolve past the whole joke phase and become kinda practical.  But not all of them are created equal.  Most are fueled by short-term hype and manipulative tactics. These pump-and-dump schemes aim to inflate the price artificially through celebrity endorsements or social media campaigns, only to leave unsuspecting investors holding the bag when the bubble bursts.

They're memecoins with utilities like Doge, Shiba and others I can't remember. I noticed a lot of influencers talking about LAIKA and it's even on Bitget, gate etc. If this momentum can be sustained then I think I'll consider an entry cos volume looks good.. this is Nfa Though ahah.

If that's a memecoin with those use cases then it's actually a good initiative from the developers. So who knows if that categorized coin as a memecoin will soon change its term from another type of coin. The devs should have never named their coin a memecoin if that's what they're about to do. But not at all times we see a full blast of memecoin that's being launched so, it's good to see that there are some that we rarely see that's actually good with a use case.

What’s the utility for DOGE and SHIB? They are just a normal meme coin with a great hype and great amount of investors but in reality there’s no utility for that coin. If we are talking about utilities here meaning there’s a usage for it and serve its purpose, but meme tokens are not created for this as they are only meme and their purpose is for the hype only and not about the utilities.

If the game is entertaining, fun and gamers adopt it because they really enjoy playing, then I would say this memecoin has an usecase... But if it's just another repetitive game copied and pasted from somewhere else, without anything attractive on it, then gamers are only going to play this aiming the rewards involved on the process. At some point, which isn't likely to take so long, the game's token (memecoin) will get devalued, nobody will play anymore because it's not profitable and the gamers who invested on the game will feel scammed and will call the game and the memecoin a ponzi scheme.

It has already happened before so many times, that this project you are talking about will have to bring more than a metaverse and mobile game in order to prove its value to the community of crypto enthusiasts and gamers. It's easy to say there is a metaverse and game involved, the hard part is to show quality, originality and exciting features which will make gamers play this for a long time.

No mate. Doge has utilities and even real life use cases. Can be used as payment services, there's also doge chain. For Shiba There's shibarium.. it's not like the conventional coins but it's something!!..

https://i.ibb.co/qkJZdGd/IMG-20240613-092423.png (https://ibb.co/qkJZdGd)

For $LAIKA Volumes is increasing, but price is at a downtrend. Might be a something..

their utilities are interesting, but its not something new and doesn't really mean something while other meme coin literally have full fledged blockchain they can utilize and built many dapps on top of it such as shiba with their shibarium.
personally not really interested in meme coin with utility since meme coin still a meme coin despite the utility many of investors are degens that disregard such utility and just speculates.

moreover, we'll see about the game, if its just generic game that gonna be forgotten after some time just like any other games that uses blockchain as their main selling point out there then its pretty much just the same coin as those generic games out there, nothing to praise from that.
it will be more important for them to make good branding and grow communities instead in my opinion instead of making a game that has no user or very few user, lets see how much active users in their game anyway, i bet its nothing really impressive which at the end of the day, people are getting bored by these narrative of metaverse and gaming nowadays, so these utility are really nothing special.

A lot of investors are angry at memecoins for being useless and occupying unnecessary space in the crypto world. If memecoins can incorporate utility into their project, why not? It will definitely justify their existence.

But I don't think all memecoins will try to add some utility to their coins for the reason that even if they are extremely useless, they still get some price pump which a lot of the teams behind memecoins all want. If you can do the bare minimum and succeed while doing so, why do more am I right?

Yes I also think the same. If the developers has got such factor of usecase utilities about the coin then it shouldn't had been pictured to be a Memecoin regarding the initiative of the coins. And if actually the Dev doesn't deviate from this onset then the coin would actually do well in the SOLchain.

Well, recently we've been seeing several memes with utilities, which I feel is a really good improvement for the meme game. With memes like Pepe, we started seeing their utility after some time, but with new projects like Laika, it's coming with a go-to narrative, and not only that, but they're also incorporating gamefi elements. I'm not surprised it got listed on Bitget, as I've been seeing such projects listed there lately

They should have but they choose not to, because it's not easy to have a use case they need a whitepaper, a roadmap, and a platform to show to their investors, so many of these meme developers prefer to follow the model of the old and existing meme coins, they just differ on names, design, and supply but the tokenomics are all just the same.
This is what makes investing in meme coins a big gamble because you never know who among these coins will give you a huge profit, it's like looking at a needle in a haystack, could have been easier if these meme coins could contribute something to the Community with a use case the community can benefit.

It's good as long as that use cases would be giving positive impact to the tokens. I meant something like the developers were generating the fees from the players and these fees can be used to buy back the tokens in the market. This is what shiba inu has done but the demands for the utilities of meme tokens are fewer.

As you can see that shiba inu developers have been developing so many usecases for shiba inu. These usecases are

1. Shibarium (L2 blockchain)
2. Shiba game
3. Shiba verse

Many more. The main problem is how can you make players are feeling interested to use your tokens? This is the biggest question that is remain unanswered at this moment.

As long as laika is not only focusing to develop utility, but the team is also focusing on how to make their tokens valuable. It's worthy to buy. It's good to have usecases.

You're right, it's definitely a good sign when a project labeled as a memecoin goes above and beyond with real use cases. It's like they're breaking the mold and showing us that memecoins can have substance too. I'm with you – it's refreshing to see these types of projects succeeding. It's not just about the hype anymore, it's about bringing actual value to the table.  I'm excited to see where this trend leads us in the future.

They shouldn’t be categorized as memecoin if the purposed of the token is different to the original idea of meme coin since it’s already a utility token. The team is probably just using the hype of memecoin to still categorized their token as meme coin while it’s not which is a red flag for me.

Memecoin in general is just a commemorative token associated with memes. The current meme coin trend is just adding some fake utility to sweeten their project but the reality it’s still the same useless meme coin with no utility.

That means indirectly celebrities have join the cryptocurrency scamming gangs because most of those memecoins do not stay up to 4 and die with investors funds. And good example from country popular musician launched a memecoin in this year and people thought since was a popular musician that launched the project, it would be a nice one to invest and within few months the project crashed and those who invested in it were crying.

And he didn't refund the money to the investors so that a pure scam project so if a celebrity launched a project, I advise people not to invest because they can't maintain the project for a long term. And they are not truthful with their investors. The dogecoin you are referring to has been in the industry for years yet it is not improving upon it supported by the richest man in the world. So I don't think Centralized memecoins can do well in the ecosystem marketplace but the decentralized project can do better.

Memecoins are not meant to have utilities. Memecoins are built for fun so that the creators can get rich quick. We can surely have some exceptions but they are extremely rare.

I would suggest to take memecoins as memecoins and don't try to find utilities in them. Remember not everything is gold that glitters. So learn went to come out of a memecoin investment without being attached to it.

It is an interesting idea to see a memecoin turning into altcoin with utility, and I think there are some meme coins with potential to evolve into  regular altcoins with real life use case when backed by any influential figures with significant industrial influence. For instance Dogecoin which has seen large support from Elon Musk. There are rumors in the crypto community that he might integrate Dogecoin into his payment system for purchasing products from his various enterprises. DYOR

I think that will be difficult to happen, where memecoin will not be a token with the utility that altcoins deserve, in my opinion memecoin is like gambling if you are lucky then you will get a share, and memecoin's popularity will never last long, therefore You must be able to take this opportunity so you can reap big profits in the future.

It woudl definitely be a difficult thign, most memecoin are just made for profit sake, some win and some lose, its always a gamble when dealing with them, so I don't think a memecoin can have any real utility unless  maybe it would be a play to earn games or some other business network that has a means to ensure that the name if the memecoin stays valid and remain useful.

I couldn't agree more.. let's see what Laika has in-store.. not confident in memecoins long term, but it's a good bet for short term. Will explore platforms it's trading on and get a position. NFA though .

Yah! Memecoins are here to make profit and not to buy something online. And that is why most of them can't survive in the ecosystem because their aim is to make profit through the investment and it is not easy to make profit because the demand is is not high so with that those who invested earlier would also withdraw their funds back and when the developers see that nobody is investing for them to make profit then they would withdraw the remaining balance and that is the beginning of the project crashed.

I think DOGE is a good example of that. And asides from DOGE, It is very possible. What it takes is an innovative mind and a team of developers to implement it. In respect to LAIKA, it’s a sad thing tat despite all you’ve mentioned, their token value has just a lot of zeros before an actual number and I’m guessing it could be because of their token supply of as much as 1 trillion. Not sure what’s going on but their site too is under construction.

Of course some meme coins have other uses, there shouldn't be a lot of choice or play because there are many projects like that. In the last few months many meme tokens that were supposed to be created as jokes have been developed in phases that we never thought of before, with so many of them we don't know the risks that will be experienced after the bubble ends.

By his definition of utility, I agree that DOGE really has it because some people are using the coin for gambling. I heard there are also shops that supports it, so for sure, there are also people who use the coin there. Utility can be the same as use case, and I can't think of any utility or use case anymore that DOGE can be used with aside from what I've mentioned there.

I think I've heard that DOGE chain before but I think it's different from the original DOGE, or their creators rather are not the same. While for SHIB, I think it's theirs. Indeed it is something, (E.g. something special) and I think this have contributed SHIBA for quite some time now.