Becareful with Meme Coins

[kak uli]

memecoin does have a very high risk but behind it all we can get a lot of profit from memecoin, it's just that in my opinion there is no guarantee that you can always make a profit unless you apply long-term trading like what happened to dogecoin holders can get a lot of profit.

yes, your opinion is very true. some memecoins sometimes take a very long time to increase in price or make big profits like dogecoin and bittorent or btt. but mostly now I notice that most memecoins only take advantage of investors so that most people lose their trust in memecoin.

[Ozero]

Yeah these coins got their price purely from hype now they are among many coins that got affected so hard by the dump.
but I think anyone who bought these shitcoins know the consequences, I mean these coins are mostly made for pump and dump or in a nutshell to gamble and people still buying it anyway
the sad thing though, many newbie also following people buying this shit coin with the money the need, vitalik's shib rugpull also affect many retailers that many people get angry at him.

Meme coins are really designed only for the excitement created around them, in order to get a certain profit during the initial period of their existence due to demand and an increase in price. Since they do not represent any practical value and do not carry innovations for the development of cryptocurrency, they will exist for a short time. I'm not interested in meme coins at all. They may only be of interest to traders on relatively short positions.

[DonFacundo]

Vitalik Donates $1 billion+ worth of Shiba Inu coin causing the price dumped and the investors suffered huge loss. I don't think if the price can fully recover in the future because the coin is just a meme so it is not good to invest this kind of coins they are just pump and dump scheme, I don't think if it can last long.

[Kiley33]

There are still many issuances of meme coins. As long as there is the support of giant whales, the attention will become higher. But investing in meme coins is more risky than investing in other coins.
If you want a stable investment, don't choose memecoin.

[llecrf]

*snip*

Thanks for the information, I think what Vitalik did by donating the SHIB coin is a good decision, but what I'm worried about is the price of the token, there are lots of investors and hope the price will go up like Dogecoin, I don't have many memecoins at the moment, but I have a portfolio new by looking at memecoin list here https://coinmarketcap.com/view/memes/

[layoutph]

No wonder if Safemoon is only running in Ethereum blockchain, Vitalik would surely kick out these coins from his wallet. But infairness, I really salute to the marketing team behind Safemoon, they are incredible professional interms of hyping. Imagine no Elon Musk, but Safemoon goes up.

[Chuky92]

Meme coins just in a way contributed to the bull run, they kind of started the shitcoins season and where many made good profits others got trapped, and as the market dumps a lot dumped with it, with no sign of recovery, thus proving the case that, Meme coins have no use case backing them up, so yes, one needs to be careful of them.
Even the top Meme coin Dogecoin have no use case, what pumps the price is tweets and nothing more, even those that claimed to be working on one thing or the other, nothing has been heard so far about them. Now NFT is here, sooner than later, a lot of them will spring up again copying others, adding others name to theirs to get attention and so on. Therefore in all ramifications, it shows due diligence shouldn't be ignored when investing in any sort of project or coin.

[Dewajuna09]

Indeed, some meme coins have had success with their projects, such as Shiba Inu. but there are also a lot of coin memes that tend to be like Ponzi schemes. lucky indeed shiba inu is supported by the founder of ethereum vitalik.

[otundebis]

Memecoin trend has already subside,  nft is actually trending with game based token.  Memecoin trend will come back in the future and I aiming to buy more Shiba inu as it is very decentralized and I love what it represents.  If one however by shitty Memecoin,  just consider your money gone!

[goolesby]

All investments have risks, but keep in mind that coin and token memes like Dogecoin and Shiba Inu dominated most of the conversation around the crypto market boom earlier in the year but as the market turned in May, their respective prices fell harder and faster than most of their contemporaries. However, with the market on the rise, those volatile assets are now rising faster than many other assets.

[harapan]

Meme coins have taken over the crypto space, people no longer want a project with a real product or take time to think of what Utility their coin should possess, they are just busy creating shitcoins, most of those shitcoins are dead now after the dump that lasted for a while, buying meme coins is very risky you could becoming rich or end up enriching the dev, it's a too sided game where you stand more chance to lose than gain profit.

[carlisle1]

if you are not a fan of hypes it's far better to stay on your safe side, this project is more on hyping and no real usages, those people behind

this project knows and understand the emotion and greed of those who loves riding with the pump, most of those who lose their
money are people who didn't recognize the risk but just simply believe that if timing is right there's money in it.

Be very furious or not to take things without knowledge, it will be more harder to control when you don't have any idea.

I suspect that meme coin won't last long. I'm pretty sure it's popular because of the current high price of Doge. however, I'm thinking of sticking with safe coins instead. sometimes, coin memes go up because only a few people own it, and the price is very prone to dumping. I also had a meme coin a few months ago, but I sold it early because I thought it was very easy to dump.

[geegaw]

Memecoin trend has already subside,  nft is actually trending with game based token.  Memecoin trend will come back in the future and I aiming to buy more Shiba inu as it is very decentralized and I love what it represents.  If one however by shitty Memecoin,  just consider your money gone!

This small disappearance for you is insignifican when you are probably just a person who often buys lottery, winning only needs to put in a small amount of money, losing a little money can also try again in the next time but other people don't have such a level of perception, meme coin for them is a big exchange and can be a big success. Shiba Inu is one of the trusted representatives of the get rich revolution and as usual, nothing more special, except for the extremely sharp price drop following such demand.

[Hypnosis00]

Meme coins have taken over the crypto space, people no longer want a project with a real product or take time to think of what Utility their coin should possess, they are just busy creating shitcoins, most of those shitcoins are dead now after the dump that lasted for a while, buying meme coins is very risky you could becoming rich or end up enriching the dev, it's a too sided game where you stand more chance to lose than gain profit.

It was uncertain as many investors are still looking for potential projects that are worth an investment. Some are just riding on the hypes which we could see that shitcoins are on the trend and we can't deny that we taking a profit from them but thinking how this will run in the future? You have found it right, these coins (shitcoins) will absolutely die due to no support from the community and the developers itself.

If we are looking for those projects that can give us some assurance, therefore, we have to choose reliable projects that have a working product, not these knows meme coins.

[adzino]

I suspect that meme coin won't last long. I'm pretty sure it's popular because of the current high price of Doge. however, I'm thinking of sticking with safe coins instead. sometimes, coin memes go up because only a few people own it, and the price is very prone to dumping. I also had a meme coin a few months ago, but I sold it early because I thought it was very easy to dump.

The trend is already over. Most of the meme coins have already died. Few new shitty meme coins can be seen now and then, gets pumped, dies the next day. Anyone that invests on meme coin to get rich now are plain stupid. We have been seeing trends like this happening for years. As soon as the trend is over, almost 99% of those coin no longer recover from the crash. The current trend now is those game tokens or whatever you call them. See how insane the prices are going. I have a strong feeling they will also end up being worthless after few weeks.

[el kaka22]

Everyone agrees that it is quite risky to invest into meme coins, we all know that they are just there because of the hype and as soon as the hype end they will be gone, however people are still doing it for some reason, just riding the wave for now and make money until they end up losing it all. I do not understand why people are still doing this, there are much better ways to make money, but because they could make money a lot quicker with the meme coin hype world, they are still investing.

Many people I know who invested into doge, did not do it because they believed it was a good coin, they knew that it was a horrible coin. Only reason they actually did it was the fact that they actually ended up making profit and did not get out, saw the hype, and said let’s ride this wave for now and that is why they bought doge and hold as long as they can.

[Handsome Boy]

In the recent dump, these meme coins suffered the most.
Expect from the dogecoin, all other meme coins are 70-80% down. I don't see any recovery of these meme coins until the market is back in bull phase.

that's why I never invest in meme coin, because it's very risky for me to lose my money, then I also always advise my friends and family not to invest in meme coin for the long term, because meme coin is rising right now just because of the hype from Dogecoin and when the hype is gone, then the price of meme coin will definitely go down and it's hard to increase again, so the risk is very big for us to invest in meme coin.

[ReiMomo]

Although everyone is after the meme coins but currently the meme coins holders are in a big loss. Things may change but its risky to invest in such coins although i have seen these meme coins giving more profit than those fundamental strong coins.

Vitalik Buterin strikes back at doggy coins with $80m rugpull

Ethereum Founder Vitalik Buterin Donates $1 Bn Worth Of Meme Coin ‘Shiba Inu’ For Covid Relief In India

Vitalik Buterin donates more than $60M to charity after selling meme tokens including Shiba Inu

I too have invested in Shiba Inu. Ever since Elon Musk tweets about doge coin, too may meme coins came to existence. Few were created against doge. Those who focused on doge, later turned towards Shiba Inu. Since its much cheaper, many bought as much as they could. Yes as you say, its really risky, however, we still hope so on meme coins seeing doge grow in the market since 2017. 

[Rakeshten]

Now the meme coins have been dumped hardly, I think now there is a 5% chance that meme coins can recover. There are still many shitcoins being created and people are investing but now most shitcoins can only give you a loss. Because in May and June there were influencers' tweets about shitcoins that's why they were increasing but now influences are not tweeting about them. So you should not invest in shitcoins.

[Fortify]

Although everyone is after the meme coins but currently the meme coins holders are in a big loss. Things may change but its risky to invest in such coins although i have seen these meme coins giving more profit than those fundamental strong coins.

Vitalik Buterin strikes back at doggy coins with $80m rugpull

Ethereum Founder Vitalik Buterin Donates $1 Bn Worth Of Meme Coin ‘Shiba Inu’ For Covid Relief In India

Vitalik Buterin donates more than $60M to charity after selling meme tokens including Shiba Inu

Your advice has proven to be quite sensible in light of the rise and fall of Dogecoin - however there was quite a lot of money to be made if you were not too greedy. Those who held on while expecting to breach the $1 mark were the fish swallowed up by the investment banker sharks. However in the long run it seems to me that Dogecoin actually has a rather bright future precisely because there is a lot more in circulation and it replicates Bitcoin without being subject to the same level of rich people hoarding limited supplies. It is much harder to corner the market if the market is a lot bigger basically, so we might start to see a resurgence of certain "Meme" coins in future.