Will Utility Make Memecoins More Stable?

[AltLord]

Hey guys, although utility was amongst the foundations of early crypto currencies like BTC and ETH, memecoin are generally fueled by community buzz and even KOL or celebrity figures. The recent of these peculiar example I can remember is SLERF.

I wrote about Catamoto sometimes ago and how it was integrating services DeFi into its memecoin platform. But today I came across another memecoin DOGEMOB following the same pattern.

DogeMob is a memecoin platform that merges the fun of memes with real cryptocurrency advancements. It has a strong community of over 11,000 members and launching its web3 game, adding new features to its token and integrating entertainment with practical applications.

Is this a new trend with memecoin? I know I play lots of games so I believe games can definitely attract a new niche. But will utilities like this make memecoins more stable in general?

[Charles-Tim]

Answer this question yourself. Are most altcoins more stable? No. Most altcoins are generally very volatile. You can see them give you good profit during bull run but see then as gambling as they can fall more than 10 times during bear market. Most of the altcoins are not getting to all-time high. If you make money already, it is better you sell the coins.

[jrrsparkles]

Hey guys, although utility was amongst the foundations of early crypto currencies like BTC and ETH, memecoin are generally fueled by community buzz and even KOL or celebrity figures.

Without utility there won't be any reason for them to stick out once the trend is gone they will eventually goes to zero, so utility is important for a project to survive or else these buzz, hype or whatever create attention for particular project only last for one cycle, especially once the big hands decided to dump then there will be no hope of them to retrieve back.

[coin-investor]

Is this a new trend with memecoin? I know I play lots of games so I believe games can definitely attract a new niche. But will utilities like this make memecoins more stable in general?

So much depends on the kind of utility if the utility is something that will benefit the community in a long term yes they can make the coin even if its a meme coin to grow and be stable, not only that it should be updated as it progresses.

There are coins with utility but failed to sustain itself because it failed to keep up in times so they eventually become obsolete, its good to know that some memes are attaching utility to their platform this is one of the criticism of meme coins they were created to be a pump and dump.

[electronicash]

the NFTs are thier usecases. being accepted in a casino can be a good use case too for the memecoin. this is how doge started as far as i know. yes, it will make memecoins more useful but no chance of becoming stable. you'd be grateful to see it can be gambled though especially when the bear market strikes already and those who haven't sold i think can try their luck in games.

[aioc]

The question is what kind of utility is that it should be something useful all the meme coins are pump and dump I have seen meme coins with AI but will they become competitive against the AI of the internet giants, meme coins are competitive now, they attached use case to their meme coin to make it look good in the hands of investors but they still have all the features of memes.
So it depends on the utility and use case, are these to make the meme coin look good or they are created for long term?

[avikz]

Is this a new trend with memecoin? I know I play lots of games so I believe games can definitely attract a new niche. But will utilities like this make memecoins more stable in general?

Generally no! Unless the game becomes absolutely viral and attracts millions of players worldwide, there's very slim chance of that memecoin being stable. We have many cryptocurrencies in the market which has multiple utilities. But none of that can guarantee a stable price point.

Memecoins are just another form of gambling. If your timing is right, you will make money or else you will loose money. Memecoins are not something to become serious about.

[DiMarxist]

Generally it is not possible because utility does not control the other tokens or altcoins so every altcoin has their own movement. One cryptocurrency can't make one all the altcoins to be stable. Even bitcoin can't do that and the only thing I k ow that bitcoin is doing to control altcoins is the price. When bitcoin price declined they also follow it and when it rise, they also follow it.
utility is not even controlling any memecoin so it can't be in the general.

[Silberman]

...

Is this a new trend with memecoin? I know I play lots of games so I believe games can definitely attract a new niche. But will utilities like this make memecoins more stable in general?

A meme coin with an utility is not really a meme coin anymore and it is just another regular coin, which will be judged based entirely on its performance, it would seem that since many meme coins are not attracting new investors as they did on the past, after all the money investors have is finite, those developers are trying to sell the idea that now meme coins have evolved and can be more than that, which is a lie but I have no doubt those scammers will do and say anything to get you to invest with them.

[batang_bitcoin]

Is this a new trend with memecoin? I know I play lots of games so I believe games can definitely attract a new niche.

The trend of games has been gone a long time ago. While it may still go for some attraction this bull run but I don't think that the attention that it has got before will be the same.

But will utilities like this make memecoins more stable in general?

I can't speak for that but it is unlikely. Memecoins aren't even going to be stable because majority of them are made through hype.

[kentrolla]

I don't think it will make a difference else all the other Altcoins which is based on some or the other utility will will not be volatile but that's not the reality as most of the Altcoins are volatile despite having utility and if memecoins chose to have utility it wouldn't be enough if they do it in games rather it should be proper real life utility. But don't you think memecoins will not longer be just memecoins if they have some utility? It may miss the community buzz it has.

[Bournesparks]

Is this a new trend with memecoin? I know I play lots of games so I believe games can definitely attract a new niche. But will utilities like this make memecoins more stable in general?

So much depends on the kind of utility if the utility is something that will benefit the community in a long term yes they can make the coin even if its a meme coin to grow and be stable, not only that it should be updated as it progresses.

There are coins with utility but failed to sustain itself because it failed to keep up in times so they eventually become obsolete, its good to know that some memes are attaching utility to their platform this is one of the criticism of meme coins they were created to be a pump and dump.

You're spot on. It depends on the utilities. But I think for a memecoin to become fully functional there'll be lots of factors that needs to change. TS for instance. Shiba, doge, FLOKI they've got good use cases but they're still memecoins. So to the OP, a memecoin is a memecoin. When you add utilities it becomes polished or a bit less volatile. Dogemon has the potential to do well because it's under $10m mcap ATM. Let's see how things unfolds.

[Crypto5060]

Great observation! Yes, it seems like memecoins are evolving beyond just community buzz and influencer support. The addition of utility and real-world applications is a natural next step for these projects, and it's exciting to see innovative use cases like web3 games and DeFi integrations. While there are still risks and uncertainties in the memecoin space, it's clear that the landscape is changing and maturing. Let's keep an eye on these developments and see how they impact the crypto ecosystem as a whole!"

[Bureau]

I doubt that adding utility will stabilize a meme coin. I think meme coin won't be called a meme coin if you add utility to it. The core reason why they are so trending is because of thier community and they are cheap to buy. When NFTs were are trend at that time a lot of people claimed that they won't last long. Well, they are still in the market and have different kind on investors in that same manner meme coins will continue to last in the crypto market.

[JeromeTash]

When NFTs were are trend at that time a lot of people claimed that they won't last long. Well, they are still in the market and have different kind on investors in that same manner meme coins will continue to last in the crypto market.

Let's be honest, who many people by NFTs these days as compared to 2–3 years ago?
It's evident that their demand has been on a downtrend. Of course, they many not disappear completely, but people's interest for them dies out over time, making them a less profitable venture. I mean, we still have ICOs even up to now, but they are just useless as compared to the 2017 hype.

[X-ray]

the way meme coin works it always revolves around hypes, the utility are never ever being considered by the meme coin speculators, if utility were truly a thing with meme coin doge coin probably already have a side chain that enables smart contract but no most people don't really care about it.
to be fair if you have seen coin like SHIB trying to add additional value to their coin by embedding utilities such as shibarium but if you see the price of the coin its actually just the same, nothing significant happening to the coin even after that announcement make me think that utility is just waste of time in cryptocurrency space.
since most of the price just revolves around FOMO and HYPE there's just really no need for it but if you think its important then go ahead.

see the example case of $PEPE which has no utility whatsoever but because people just so bullish about this meme coin the current monthly increase of this coin is 133%. so as long as there's no research that prove that utility in meme coin making it more stable I think i still pretty much believe that its just futile attempt to create gimmick, if anyone truly cares about such thing meme coin is not the place to invest.

to be fair coin you mentioned is rising 50% but doesn't mean it will last long, current week the trend shows trend of meme coin, probably just due to it, see later when the trend finished whether it could still retain the value, most of the so called meme coin that have no utility like $pepe will be more resilient and stable which indicates utility is just gimmick.