Reason not to trade memes coin

[Barikui1]

Some of the reason not to trade or hold shitcoins are :
 
• No fundamentals value : just driven entirely by hype , trends and social media attention
•Extreme volatility
•Hype and manipulation
•Rugpull and scam risk

These are some of the real reason trading or investing in meme coin is actually not ideal because the possibilities of losing money is very high if you compare it to Bitcoin, sometimes due to greed, you will see an investor investing heavily on meme coin hoping to make huge amount of money from it, but in the end, they are left disappointed because the possibilities of making money from it are very slime just like gambling.

If you look around the forum on most thread, investors are advice constantly not to invest in meme coin, but due to greed for 10x to 20x, they will still go ahead taking such a stupid risk, and after everything when they have finally lost their money, they will start feeling regretful, so greed and ignorance is the main reason investors still follows those route.

[Pandorak]

First of all, i must say, never focus on meme coins, they will only ruin your finances. I know and understand that there are so many people out there trying to make big profits in a short time from trading meme coins, but if we look deeper, this only happens to a small minority of people, maybe 1 in 100. Understand that meme coins have no utility whatsoever. Their price increases rely solely on temporary hype. Once that hype fades, their prices will continue to decline. Early buyers are the winners, while late buyers caught up in FOMO will only become exit liquidity.

[ndutndut]

The influencers are the ones that keeps on pushing this to their fans. They try to find many of these memecoins but it could be a coordinated effort with whomever are the developers of these memecoins for them to be fed to the ignorant fans that they have. All they show are the wins that they make but if it's the losses that they're having, they're going to keep it hidden for them to be looked too impressive with the gains that they make. Anyway, if there are real traders that make a lot of money from these memecoins, that's good for them. But everyone needs to remember that it's not for all, if it doesn't fit their trading style yet they better choose to be an investor.

Most people are attracted to investing in meme coins because of motivation from influencers. Sometimes it's not just beginners, but even those who have been in the crypto world for a while who often buy meme coins to test their luck. Many have experienced losses in meme coins but strangely they don't give up. They keep buying every time a meme coin appears. They should have learned from mistakes but unfortunately they don't care.

We can't deny that many traders profit from meme coins because they're experienced and know when to enter and exit. Unfortunately those beginners motivated by investment buy meme coins because they follow the trend, ultimately experiencing losses. So it's true that buying meme coins isn't for everyone. Buying meme coins requires strong analysis and careful calculation. I myself have never bought meme coins, because I'm aware of my own weaknesses. I hope that beginners out there also realize this, that meme coins are very high risk if you don't have extensive knowledge, it's best to avoid meme coins.

[Dunamisx]

If you want to trade memes, then make sure that you have developed enough thicker skin that can help you withstand any fluctuation in the market as any form of instability may occur in their volatility, mostly, we often advise that investors should not hold memes for a longer duration before selling.

[Ahli38]

Most meme coins have a pump and dump scheme (Source), where they have the potential to cause their owners to suffer losses. And there is no way out when the dump occurs. In the end traders or even holders of meme coins can only despair and even let their assets turn to ashes. So I personally prefer to recommend that anyone not try to take risks there. The chances of loss are much greater than the chances of profit. Perhaps for some people trading in meme coins is like gambling in general. But I personally don't see it that way. I think gambling in general has a fairer system than most meme coins. So I prefer to gamble in the usual way rather than trade in meme coins for any reason.

[programmer3666]

Most of us lacks the ability to be patient we just want to make it real fast (looking for 10X overnight ) . The truth is the greater the reward the greater the risk too . Many will be like bitcoin is to slow and stuff , or the price is too expensive, funny how you can start buying bitcoin with any amount you have not necessary it must be one BTC and above. Even bitcoin is not risk free though but the risk can be easily managed compared to those shitcoins.

Trading generally is not easy and anyone without the right knowledge and psychological preparedness ought not to trade. The problem of trading is even increased when you leave bitcoin and delve into crazy asset like memecoins that are prone to pump and dump. Not many people are even able to catch the pump because it happens very past and when the dump comes, most of the time the coins never survive it. These troubles can be averted by simply avoiding memecoins.

bro exactly! meme coins are like firecrackers they shine bright for a short while then fade out fast some people just jump in hoping to catch something like a 10x profit but by the time they do!! the hype is kinda usually over and they are left holding the ahitty bag bitcoin and a few solid altcoins might not move as fast but at least they have real utility and stronger fundamentals behind it. So patience and knowledge pay off more in the long run than chasing quick hype

[TastyChillySauce00]

I don't trade meme coin because the deployers have 100% chance of making profit while the odd become lower as the time goes and as the FDV goes up.

Basically you become the sucker if you're late. I don't think that's fair. Why should I have lower odd than people earlier than me and that without mentioning the rugs and the scams.

[M47AK16]

Trading generally is not easy and anyone without the right knowledge and psychological preparedness ought not to trade. The problem of trading is even increased when you leave bitcoin and delve into crazy asset like memecoins that are prone to pump and dump. Not many people are even able to catch the pump because it happens very past and when the dump comes, most of the time the coins never survive it. These troubles can be averted by simply avoiding memecoins.

Trading in general is an all new game. It is only about exchanging items but it can also be about buying low and selling high if we want to profit. We are only the ones that complicating it by implementing a technical analysis. There is no problem trading meme coins but as long you know how to play their game and within their level of manipulation. Even trading Bitcoins can also be risky if you don't know what you are doing, especially when one is using leverages or doing futures trade.

I agree that it would be too good to avoid trading the assets which are wildly fluctuating but at some point traders love the assets which are too fluctuate because you will get enough opportunity if you have strong technical background. So, trading memecoin is subjective and must decide as per risk appetite.

[virasog]

If you want to trade memes, then make sure that you have developed enough thicker skin that can help you withstand any fluctuation in the market as any form of instability may occur in their volatility, mostly, we often advise that investors should not hold memes for a longer duration before selling.

Also there is a time to invest and trade in meme coins, it is not that you buy meme coins at any day and expect them to rise to 2x, 3x or more. There is a meme coin season where most of the meme coin fly and that's a small period where investment in memes is effective and profitable.
Yup meme coins can give you life changing profits but for that you need to be a bit lucky 😉

[justdimin]

The rug-pull in the crypto space keeps happening, and it doesn't seem like something that will stop anytime soon. People are finding it hard to learn from all that, either. Investing in hype coins doesn't end well.

You can imagine the heartbreak of this to investors who had thought of having huge profits; their expectations were cut unexpectedly, resulting in a huge loss because they tend to follow the advice of crypto influencers to invest in a new coin.

This is a big lesson to learn, I just hope people change from investing in hype coins and focus on bitcon that can't be rugpulled or controlled by anyone

Yes, it won't stop but it can only get worse over time since the creation of them is getting more and more every singe day. Investing in meme coins are only like a gambling. There is also a huge potential of earning a profit on them at a quicker amount t of time, no wonder why people keeps on coming back at them too, to try their luck again if in case they fail. The cheap value of the meme coins is also an added factor on why a lot of people are attracted since they can say that they will only lose a tint amount.

[Josefjix]

If you want to trade memes, then make sure that you have developed enough thicker skin that can help you withstand any fluctuation in the market as any form of instability may occur in their volatility, mostly, we often advise that investors should not hold memes for a longer duration before selling.

Also there is a time to invest and trade in meme coins, it is not that you buy meme coins at any day and expect them to rise to 2x, 3x or more. There is a meme coin season where most of the meme coin fly and that's a small period where investment in memes is effective and profitable.
Yup meme coins can give you life changing profits but for that you need to be a bit lucky 😉

Meme coins are not what I could sit down and discuss on the my table as it'll really ruins my business career because the mindset behind the developers or the founders are very low vibrational, for quick gain and profits for their own games. They do the same thing again and again untill they got trashed out from the market.

Investing in memecoins are not properly advisable to get it, they failed many times while always keeping the blame right to the investors.

[Odusko]

Indeed, the majority of meme coins are difficult to trust as investments, especially if we're considering futures or leverage trading with them.
Additionally, it's not advisable to hold meme coins as long-term investments.

Just like the meme coins you mentioned, I'm not familiar with them, and I have even less knowledge about that space. However, I do know that there are still
many crypto communities, especially those with limited knowledge, who are taking a chance and gambling on meme coins due to the hype. That's why these individuals end up investing
in these types of crypto investments.  That's why investors entering this market always need to exercise extra caution.

.we already know that trading memecions is like same as gambling most of them are just hype based and for that we have seen that most of them never amount to anything that we can go by, altcoins have a lot in common but memecoins on the other hand are something else their are scheme on their own and their existence is based on the hypes.

[Orpichukwu]

I stopped trading meme coins a few years ago, and I'm not even close to it anymore. I spent some of my capital in meme coins, making trades I wouldn't normally make, and it was a good lesson for me. I wouldn't tell anyone not to trade meme coins, everyone has their own preferences. they can win, but losses can be higher. Rugpull's biggest hit is meme coins. These are the coins most subject to manipulation, and you've already stated why you shouldn't trade meme coins.

The risk in trading meme coins is just too much. I also can't stop anyone from trading; anyone who thinks they are strong enough to handle the risk should go for it. I have also lost a significant amount in trading meme coins, which I only approach with caution this period, even thoughone can't still be too careful, as a rug pull can hit when the person least expects it.

[Cyber_warrior]

Most of us lacks the ability to be patient we just want to make it real fast (looking for 10X overnight ) . The truth is the greater the reward the greater the risk too . Many will be like bitcoin is to slow and stuff , or the price is too expensive, funny how you can start buying bitcoin with any amount you have not necessary it must be one BTC and above. Even bitcoin is not risk free though but the risk can be easily managed compared to those shitcoins.

I don’t even think lack of patience is the only reason why people go for meme coins instead of bitcoin, the reason why people do go for quick money is that they feel crypto is a get rich quick scheme, they think if they invest in bitcoin, they won’t be able to make the amount which meme coin will give them within short period of time, since they are looking for quick money, they will rather go for meme coins which they believe will multiply their money so many times within short period of time.

The risk in meme coins are just too much, you might decide to trade with some amount of money, but don’t be surprise that you might end up losing everything in your first trade, and even if you are making profits, don’t be surprise that time will come when you going to lose everything back, so the risk is just so high.

It’s better to invest in bitcoin and have peace of mind, because if you can hold, even if bitcoin price goes down, it’s going to bounce back, bitcoin is going nowhere. But immediately some meme coins start dumping, you should know that they not going to bounce back.

[bitgolden]

I stopped trading meme coins a few years ago, and I'm not even close to it anymore. I spent some of my capital in meme coins, making trades I wouldn't normally make, and it was a good lesson for me. I wouldn't tell anyone not to trade meme coins, everyone has their own preferences. they can win, but losses can be higher. Rugpull's biggest hit is meme coins. These are the coins most subject to manipulation, and you've already stated why you shouldn't trade meme coins.

The risk in trading meme coins is just too much. I also can't stop anyone from trading; anyone who thinks they are strong enough to handle the risk should go for it. I have also lost a significant amount in trading meme coins, which I only approach with caution this period, even thoughone can't still be too careful, as a rug pull can hit when the person least expects it.

Trading memecoins got no difference from trading all other category of coin in altcoin space. When these coins are not backed by any real project, just for the theme of memes, how long they can survive only through manipulations. Even dogecoin falls into the category of memecoins, it got first mover advantage and got support of whales like Elon Musk. We cannot expect similar support for each and every memecoins. So, hype of memecoins will fade away over the time.

Honestly I am not trading any memecoin but only bitcoin against stablecoins. In my decade long experience, no altcoin suited my way of trading to get me profits. Bitcoin trading is good for me as I do positional way of trading so I do not need to worry on short term market fluctuations.