Meme coins have no use case

[dezoel]

Looks like it turned out right for Meme coins, market is very bearish right now for Meme coins.

Considering only to buy a useful projects has better chances and potential. 

That is the real worry when you buy meme-coins. You don't know if the bear run has started or the meme hype is over and it's time to sell the coins. If you invest in a legit project at least you know the project is yet to launch and even if the bear run is causing the crash, it should be recovered well once the project launches.

Some people do well but it’s a minority really & you really do risk losing everything with these type of investments. Stick to bitcoin & other established alts rather than risking with meme coins.

Some people will always do well even during the bear runs and yes most of the time the creator/owner of these meme-coins are the ones with the highest profit and from whose pocket it goes? Those who buy these meme-coins without actually knowing when to sell.

There is no problem trading these meme coins but only the sharpest traders will benefit and if you are holding meme coins, you better stop trading.

[fullhdpixel]

Meme coins can have a use case depends on the developer's roadmap.

Most of the time those roadmaps are rather foolmaps which they will never follow or work towards achieving.

Just, for example, a dogecoin can be developed into a more useful one but sadly developers are quite lazy to do something about it.

The problem is that they cannot change the specification of the coin and without changing that you cannot create any real use-case from dogecoin really. I heard that Elon Musk is aiming to work with doge developers but not sure if he actually means it.

Meme coins are named as such because they are created cheaply for everyone to own a massive amount without spending too much while the coin offers no value and is totally based on the hype that can be created.

[worle1bm]

That is the bitter truth behind the Meme coins. Once the Doge started to go up (when someone tweets), people started to think that it may easily go pass the BNB and even Ethereum. With that hype, people started to create more and more meme coins, which do  not even have any use case. As it started to collapse, they became worthless pieces of assets and I do not think anyone would invest further on such coins which do not have a proper case at any means.

If you just search for meme coins then you will find a bunch of them trading in the market at this time which have no utility in the future and some of them are very popular due to people being convinced that they will yield good returns in long as well as short term.This was all temporary and market was under manipulation which pumped these shitcoins upwards but not for long.Such as doge,shiba,kishu,cumrocket,SafeMoon which according to me will serve no purpose for investors in long term.So stop investing in them for no reason as profit will not be made with them if you are not new to this crypto market you better know this.You can not guarantee your funds as not many nodes are running behind them and some are fully centralized currency so better to be safe with potential coins.

[cryptomaniac_xxx]

No use case but then meme coins has been patronized by most of the investors thst is why they tend to survive until now. Its all about how active that trading volume, if they tend to have high trading volume even if they dont have a use case and been recognized as a good coin for trading, then it can still be useful for crypto market.

Yes, but you have to understand where they are coming from, the 'patronized" it to make profit and not because it has use case or something unique to offer in the market. That's why we really need to be very careful specially if we are a newbie because we might tend to get suckered by it and then get trap and the only way to get out is to loss our hard earn money. Or simply put, majority of meme coins are used for pump and dump scheme.

[bison]

but some people might ignore this because they are looking for profit and not too focused on developing a project or their quality in the long term because their target might be to make profit from any kind of coins.in a short or long time essentially they see the project in a different way.

Yes, for example DOGE some time ago, lucky people will be very lucky before starting to tweet and the phenomenon, then he realizes that it won't last long and sells it when the price is high, it all goes back to each person's goal in assessing a project .

[ilovealtcoins]

The growth of coin memes stemmed from the hype of Elon Musk. Doge started moving and making huge profits, other coin memes were formed and attracted people's interest. A wave of meme coin investments is underway.
Overall, the market is in a bull market so all altcoins have movement, so money flows through more cryptos.
If another bear cycle occurs, will we still see meme coins next bull run? I think most likely not.

[blockman]

Thailand has a say about the meme coins and I think they're the first one to remove them from exchanges outrightly.
(https://www.engadget.com/thailand-bans-meme-coins-nft-113518980.html)
Other than meme coins, they've also commanded to remove NFTs and other exchange tokens. With that law that they've made, they're trying to remove the manipulation that might put their citizens into it.

[trauchot]

Meme coins are created in order to make money and as you can see recently a lot of various meme coins have appeared in which people invest a lot of money because investors want to make money by investing in meme coins, but the fact is that now there is a hype around meme coins and when the hype will go down, almost all these meme coins will die and investors will lose a lot of money, so before investing in meme coins, you need to remember about the huge risks of losing your money.

[Tigerheart3026]

many people's supported those meme coin, shiba inu is massive community, for that it's listed on binance exchange based on users vote and it's built as a doge killer. i see another a new project goma shiba inu which inspired by shiba inu.
i think there are no vision in the future, who thinking how to rich in overnight just they invest for those project.

[ChrisPop]

Meme coins are useless indeed and do not hold intrinsic value, but they might be the way for some people to get rich. That's why people are attracted to them.

We must understand that most of us are not in crypto because of the technology, but because of the returns. However there is a catch to this. Retail investors who are not versed into the investing world get caught in the risk-return fallacy. Many people lose money. Even if you have had some random success, if you do not have a winning methodology to find promising projects that actually have a future you are doomed to lose money in the end. At least in my opinion speculating on meme coins is a gambler's game and should not be the activity of a serious investor.

[Vatimins]

     I just cannot imagine myself investing on such coins. I have been in this industry since 2016 and I have seen many sorts of shitcoins and scams but I have never seen a huge number of dumb people investing on not just one but several shitcoins altogether without even considering their choices. What's worse is that they even have the audacity to get pissed off when you show some care and try to guve them advice. What a phase for crypto this year is. I would rather have a slow market than a market being swayed just by a few tweets from a single person.

[Fivestar4everMVP]

Thank you @op for such a wonderful and detailed write up, meme coins are as good as useless, for it is only useful to those who are in for some quick profit which for some still end up as quick loss, meme coins won't even survive the slightest experience of a bear market, and a coin or token that cant stand a bear market is absolutely a shitcoin.
I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.

[xiboothrezi]

Memecoins may become the next shitcoins because they exist because of the Hype only.
Well, the only thing we can utilize from this coin is only trading for a short-term period and we must be wise and smart in deciding the right time to buy and also the right time to sell. Once that coin has risen up and has reached the target, it is better to take profits. however, if you are really not sure about the chance, it is very better to avoid this kind of token. That is too risky.

if we miss the boat then losses will await. when the market is bullrunning it's easy to find projects that are buzzing with hype, like meme coins, and if they don't have any real long term function then once this hysteria is over they will become even more worthless. the movement is difficult to predict, which is clearly easy to go up and suddenly go down, that's why I avoid such coins.
I prefer coins that already exist and have a real function.

~
I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.

It's also quite unsettling. my friends entered the crypto world because they got an invitation to invest in meme coins, even wanted to invest their savings because they were lured by the double profit like Doge. I can only remind them that it's a big risk, and it's not that easy to get a profit. if they are lucky they might make a profit, but if they sell it too late then they will lose.

[Johnyz]

Thank you @op for such a wonderful and detailed write up, meme coins are as good as useless, for it is only useful to those who are in for some quick profit which for some still end up as quick loss, meme coins won't even survive the slightest experience of a bear market, and a coin or token that cant stand a bear market is absolutely a shitcoin.
I join the op to advice everyone investing in meme coins to be very careful how they invest their money to avoid unprecedented losses, only invest your hard earned money on quality and useful coins and projects, coins and tokens with clear use case, genuine team and a clear and achieveable roadmap.

That's why it called a meme token because they have no use in this market aside from being a meme and I don't really see their usage in this market in the long run. Most of the meme token will die eventually so don't hold for too long and always play short with any meme token. Though DOGE is totally different because it is being hyped by Elon but sooner or later, it will go back from where it begin in the bottom.

[Meta anggraini]

Recently, we saw so many people buying Meme coins, hoping for a new Doge. At first, some profits could be made but it didn't last long.

They didnt search for last long profit, they just want to scalp it and build a snow-ball effect. It will be bubble blast in the future and very risky to the entire crypto space.
I hope we dont follow that kind of investment, i categorize that behaviour as a money game that should be avoided.

[Kelvinid]

Recently, we saw so many people buying Meme coins, hoping for a new Doge. At first, some profits could be made but it didn't last long.

You could be right mate...We can't really trust meme coins but we can't also underestimate them knowing that some of them just pump. But talking about investment deals, this gonna be a short-term deal only. It wasn't reliable enough to hold them for long as the risk is too high knowing the possibility that they might turn into scam coins. If that will be the case, I'd rather have to choice Bitcoin or the top leading altcoins for this.

[Coin-1]

The blockchain of any meme coin can be improved to implement new business-related functions such as DeFi, etc. Meme coins usually are quite centralized, so their miners or validators are unlikely to raise objections to the decisions of the developers.

The main feature of any meme coin is its current or former popularity among the cryptocurrency community, so there is no need to advertise a new project. Perhaps when enough coins have accumulated in the hands of the whales, the meme coin will be upgraded to have use case.

[isaac_clarke22]

~

But most of it are all from hypes, or am I missing something here? Like how would even one get its use if the true purpose of it is to be like just a meme coin in the end.
Just like the Musk era that happened, I imagine how many people realize that they were just throwing their coins into a meme coin.

[Ekyfitri]

~

But most of it are all from hypes, or am I missing something here? Like how would even one get its use if the true purpose of it is to be like just a meme coin in the end.
Just like the Musk era that happened, I imagine how many people realize that they were just throwing their coins into a meme coin.

That's right, even assets like Dogecoin we don't know how to use their real product. As far as I know and from the past, many gambling sites accept Dogecoin for their bets.
some successful meme coins in the market with huge community growth due to hype. when many people join then they should also be prepared to lose their money.

[iTradeChips]

I always have this idea that memecoins are worthless in the long run and that the ones who get rich in memecoins are the ones who got there and invest very early. Maybe some will say they do not have real world use or that the developers are to lazy to anything anymore. But there might be active memecoins who wants to do more and become more than what Dogecoin has achieved. All you need to do is to become more into researching at least give yourself one day research per coin and you might be able to achieve your dreams.