there are usually some characteristics to it, such as obscure teams, having very large discounts (usually above 50%) only promote sales without any developments in the project. this is a common feature that I often encounter, if you want to help you in researching altcoins that are not scams, going to some review channels there usually has good reviews for the future.
I see most obvious sign is when the team is very active in sale time where they gonna try to get money from people and then becomes rather inactive shortly after the sale ended. That doesnt feel right and their effort to develop the project seem has decreased significantly now that they got the money from people who believed in their project. A good project should always stay responsive to their clients anytime because they created public offering of their token. |
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There are coin memes that can indeed be used as investments, because they are really serious about running the project
What meme coins are you referring to? I don't know if any meme coins were created by a serious project team. In my understanding, if a project wants to be serious for their business, they won't make meme coins. We all know if the reputation of meme coins is very bad, so some people only use them for short-term trading. But for big investors, they should prefer to choose non meme coins because it is too risky. A serious project but branding their project with some random meme name or animal name does indeed make their project somewhat less trustable, usually a serious project will also choose a serious name that could help them build a strong branding name, i still also doubt that any project with meme name is some serious project, maybe these project should stop using meme name if they are really serious. |
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Agree, project that tails an existing succesfull project for naming will usually not as succesfull as the project they are inspired from since when it comes to a project like this their similar naming is just to attract attention.
Ive seen plenty of projects that uses the name you mentioned doing some rugpulls etc but people still fall for it. I guess the naming used by these project really works but have negative effect for investors overall.
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Number 4 is the most important one. As a Newbie, the FOMO force is very overwhelming and you can make decisions that can easily rekt you. Though newbies would be newbies
Yeah fomo and panic selling is like the biggest factor that causes people to make a really bad decision. Im myself still gets trapped by the fomo or panic selling sometimes, when the market feels like its gonna go up so high or gonna go down so hard our feeling usually gonna take over and influence us. Even many expert traders also gets influenced by that and its undeniable that to go against your fear in trading it needs years of experience. Usually though people overcome this using technical analysis. |
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MEME is suitable for short time investing because new meme coins will come to any market.
Yes, but meme coins are much more risky in the long run, so for those who are late to follow the trend of meme coins will always be at a loss, so there is no need to consider meme coins to own them even in a very short time Meme coin is always and will always be about who get in first and who go out at the right time. It was never about a project that could generate profit to make the coin more valuable but the price always based on timing and speculation. I always against a coin like that, a project with good product is what im always looking for, thats a project that could solves humanity problems while could also make its coin more valuable so the token not become a useless token but instead have utility. |
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I doubt that and I think its CBDC or stablecoin released by the government that can replace fiat. Most of people see cryptocurrency as investment and rarely I see people using it as a money. Even crypto debit card is hot because its convenient and in reality it converts your asset to fiat first and then proceed the payment. But i think its suitable as an investment like most of people doing right now. So my conclusion is no, it will not.
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How are you my friends i hope you are all well. There are two types of people in the market, some big investors and some small investors, Big investors don't care about this situation but it is very sad for small investors. When the market falls sharply, I wonder how the market situation can suddenly do that. I know that market graph charts and news mean a lot, But if you look at them, the market is going in the right condition, then suddenly it starts falling down, for no apparent reason. This shows that the market is taken up by itself and then brought down by itself. I want to know how long this market situation will last, And when will the market start to go up?
greedy investors is the main reason why market still have no improvement since the hard fall, just imagine when there's a small pump it always suddenly slide down back to the current support,. So who do you think is dumping? Of course those greedy people who use to sell just to make profits despite of the situation.. There's no way to blame big investors because there's no huge impact when market fluctuate after the progress. It's very obvious to be honest. Beside of that, its just how the market is in state of fear, if you see the rsi indicator its showing that, and maybe weve really reached ath and its time for bearish market, if you consider all the factor it will be too many to think about but one thing for sure is that the bearish market will definitely come the time we break the ath, so cant really blame anyone on that, every graph on every investment market always show after reaching its peak the price always go down little by little and thats exactly what the market experienced. |
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Trading is like agriculture business, the more capital you have the more profit you can generate, i know how important individual skill in trading is but without big capital you gonna find a lot struggle.
But as you said if someone have the courage not to easily give up and keep making profit from trading they could grow their capital.
However always remember that even skilled individual cant always make consistent profit if the market moves so fast and unpredictable, i would take that into consideration.
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Its just strategy to make the circulating supply not much so the price could grow or just incentivizing holders. Sometimes project that have token want people to keep holding the token so to keep the amount of token holders not decreasing making it looks like a popular token.
But it could be other reason as well, no need to be confused about it, just choose what suits you best either staking or yield farming.
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it is possible that people believe that tokens running on the ETH network have far more popularity than others. there are already many solutions for ETH such as BSC and Polygon which so far have cheaper transaction fees. but the popularity of the ETH Token is hard to replace.
Yeah, thats also one of reason, people see project that creates token in ETH blockchain instead of other as a more legitimate and more serious but actually its all depends on the project itself, even eth was also used rampantly for scams back then so cant really use that reason as a credible factor to judge a project. I personally have no problem whats the developer preference on where they released their tokens. |
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I don't think MEME coins are the trend. They're probably just hype. There're always people who would like to make quick money. The market of EME Coins suit them, but I'm afraid it won't last.
Its both hype and trend, undoubtedly many people who buys mene coin are using it for purely speculative purpose like tokenized coins trend back then and I think the market for such coin thata purely speculative isnt healthy. This trend will become unsustainable and maybe gonna taint the market when many people actually losing because the upcoming massive dumping thats inevitable. |
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Erc20 token has its own smart contract address that you can identify with, for someone to use a fake token they need to take control of the game you created and if they happen to have that control then it safe to say that it isnt your game anymore.
You gonna be fine and thats reason why many projects recommend to take a look at the smart contract address to see whether its correct for precaution.
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Its BNB, you see its use case and how wide it already adopted among people is already enough for it to be able to compete with ethereum, many people keep saying that BNB is rather centralized but when we have something like defi and blockchain based games I doubt many people gonna care about that. But im pretty sure in the future there gonna be another disruptive coins that could turn the market upside down.
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Ofcourse it is, the fact that you acknowledges that trading could be really profitable could also means that trading could cause a big loss as well, remember that the profit or losses we score depends on ourselves and market decision.
People should know that trading which are short term usually requires dedication like a fulltime job to make profit.
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Might become the next shiba inu but as you know meme coin is a highly speculative coins and generally not recommended for investment, its more or less the same as gambling and isnt really recommended not to mention its growth mainly coming from elons tweet as well.
Meme coins is all about what feature it has as gimmick like swap etc , you can pretty much make judgment on your own.
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Its just the same as creating company, making altcoin is also essentially making company and not all of them gonna succeed make them millionaire very fast. Theres tears and blood in every success of a project so if you are an investor expect the project to run not as smooth as you imagined as there is always something need to be tackled. And to be honest its like common sense in investment, i think why people gets disappointed because many of them putting too much expectation after seeing the crazy bull run that has happened and turns out its not as what they have imagined
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Even if the market turns out to be the worse, seeing all the hype rrvolving around us regarding nft, defi etc obly show a sign that this market is not gonna go anywhere, you can say the market could go down so much as you predicted hut there eventually be a time where we see green in the market and recovers its price back to near ATH again. But anything could happen in crypto, more or less same with stocks.
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Don't be easily influenced by Elon Musk's tweets, what happened some time ago is at least an experience for all of us, Elon Musk may return to playing the market and looking for profits to enrich himself. Don't be easily provoked by his invitation.
Right. Theres always some little reason behind elon's tweet. As I can see we dont know what hes planning but maybe hes just making the market hype, who knows if elon himself also created some meme coins in his leisure time and trying to get the market worked up for that. This kind of speculation just msde from tweet could ve very harmful to our financial condition, just a warning. |
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The market is extremely volatile in a bear market. This fluctuation has also brought us great losses. However, we can firmly hold the valuable mainstream currency.
I think its usually the mainstream currency that gets demolished easily when the bearish come, some alt with lower market cap still keep its value pretty well but also some other altcoins that are getting impacted so hard. Just see how BTC could affect literally 5 coins below it from the market movement. I will prefer diversifying my portfolio to some smaller coins as well like NFT coins. |
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