Why people keep "investing" money in shit/memecoins? Genuine question.

[bitkanu]

So many times newbies are falling into the same trap anytime and these newbies never try to learn about that. They keep being delusional with what they have aimed with their shit tokens. Those newbies understood about crypto but im sure that they got lured by the famous guy to join in the meme tokens.
 the scammers also spreading fake news and rumour about the coin that will be going to the moon. experienced people will never try to join in the meme token even they know if this is legit meme tokens. they know that if meme tokens were pump and dump tokens.
people who played in the meme tokens were the newcomers in the crypto. Many of these people are always speculating for meme tokens to go to the moon.

[Ten98]

It's a gamble, they hope the token will have the same fate as DOGE and SHIB. I don't think those people put a lot of money there.

anyways why put so much money on those two memes for now ? because I personally also see other coins more than just memes because there are many coins that can be used now, not just memes.

[Baofeng]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?

This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

Those who have invested on them are inexperience or who think that they can be crypto millionaire instantly. Just like what happen to the hype on Doge coin because of Elon Musk, many job on the bandwagon, pushing the price to ATH. And then those who are smart exited with profited and those who are inexperienced are left out and think that it can still go up. But they are trap inside and the only way to get out is to suffer some losses. So that's inexperience for you. A gamble that they could have won if they know what they are doing.

[PX-Z]

I don't think all of those who invested on such coins are newbies there are still non-newbies who tried and risk such kind of investment.

These kind of people prefer a coin like this due to its volatility behavior, where in fact it dumps eventually, yet on the opposite side it also pumps like crazy in different manner. That's why there are still people you can see that go, invest and promote such coin due to all of these.

[Ararbermas]

Well obviously it's because of quick profits reason mostly investors wants meme coins and etc instead of top cryptos.. As the matter of fact nowadays always meme project were making hypes in the market so it's not surprising why there's bunch of investors going crazy in it because of that reason. It's all about opportunity in just a short period of time to be honest.

[Refrumatrix]

Meme coins double your money way faster than left crypto coins, I have more money than I would ever from a top altcoin in 2021 through a meme coin and took my profit, the only way to lose money investing in meme coins is not doing research first, meme coins are risky as so many of them are scam

[Ulven]

Of course, this is due to their desire to obtain great wealth in a short time. This isn’t only limited to beginners but the majority of investors who are running after the quick profit. That is why it is always preferable to choose the classic coins that are widely popular and have been in the market for a long time and have actual use that you can search for them in CMC.

[barbara44]

This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

Yes, they can be a combination of both, newbies and pro's but the pro ones are the ones that are not gambling here, they already have an experience and they already knew how shitcoins and meme coins work. They just buy the latest one and then quit as early as possible when more people have entered. Shitcoins and memecoins are the real example of a pyramiding scheme, not the legit cryptocurrencies.

Newbies on the hand just try their luck and see if they can earn instantly. Shit/meme coins are overly advertised anywhere and it is easy for some newbies to see them. It is only sucks that this may affect the reputation of older cryptos. Newbies may think everything in this space works the same.

[o48o]

Because shiba inu made 88 MILLION percentage gain in a year. Yes you read that right. So upside for investing $1 shitcoin can be insanely profitable especially when you get in early. There's no other reason then that. It's basically a ponzi as you need more and more people to shill it.

But i relate to these people as i made most of my money with coins i didn't really even like and that made me a better swing trader, because i could sell them without any hesitation as there was no attachment to then.

[tippytoes]

Because shiba inu made 88 MILLION percentage gain in a year. Yes you read that right. So upside for investing $1 shitcoin can be insanely profitable especially when you get in early. There's no other reason then that. It's basically a ponzi as you need more and more people to shill it.

But i relate to these people as i made most of my money with coins i didn't really even like and that made me a better swing trader, because i could sell them without any hesitation as there was no attachment to then.

That's the main reason why people keep on investing on meme or crap coins because they are hoping that one day they will struck their luck and get rich. It is not that they believe their purpose but it is more on hoping that they will gain something from it. So it is not only newbie, even long time crypto users are trying to get hands on it. Because if they will shell out small funds, that would be nothing for some people. As a crypto user who gained from investing in different coins, you understand the feeling of these users who will invest on these meme coins. At the end of the day, it is your profit that matters whether it comes from a crap project. But if you lose, those devs don't care about your funds.

[YinShuiSiYuan]

Of course, this is due to their desire to obtain great wealth in a short time. This isn’t only limited to beginners but the majority of investors who are running after the quick profit. That is why it is always preferable to choose the classic coins that are widely popular and have been in the market for a long time and have actual use that you can search for them in CMC.

What you described can be briefly described with the pump & dump project. The creators do not care for the project to develop, but to quickly raise the price as high as possible and then sell it. The mechanisms are similar to the ponzi scheme, however it works very differently.

[Oneandpure]

Many trader and investor still keep staying with shit and memecoin for investing because seduced by a large enough profit and more expectation when early launching and you have faster hand you can got buy on pre sale and first listing sell all earn almost 500% profit, impossible with short term on spot trading with bigger coin can reach much profit, but many trader and investor are blind with many time loss and coin removed liquidity where become scam coin without can't sell on exchange.

[bakasabo]

People invest in them because of their low price and a believe in "get rich quickly" strategy. Because it is easy to buy them, and almost everybody can afford to spend few dollars on them.

An important factor is being anonymous when buying. In real life people would feel ashamed buying obvious crap with a desire to get rich. It is obvious way to throw money into nothing, and people would judge them and call fools. But if you do it in crypto, nobody would know that you are buying obvious crap and scam. If you lose money, you lose and nobody knows about it. If you win, you announce your success.

[X-ray]

- Newbies got trapped by the influencers and the influencers gave signal for the newbies to invest in the shit scam meme token with the hope to get decent return in a short time.
- Gambling/betting on the pump or FOMO
- People believe with small amounts of money and they can make thousand hundreds of dollars instantly.
- Only to follow the trend
- They have small amounts of money and they can't afford to buy legit tokens that already had high value.

They never care with fundamental of project. I have ever doing a debate against shit token die heard and they keep calling their coins will make them all millionaires while the fact that their portfoliso gone down more than 80%. Just look at what happened with safemoon.

All of that is right because they see many crypto ads on their social media sharing how much money they get from investing in the meme coins.

Yeah they are sharing their profit but when you asked them all and they will never share their lose or they will be loosing their followers. Influencers were always doing this kind of garbage trick to fool the newbies. that's horrible thing. So many newbies never learned from it if those influencers are also possible getting paid to ads.

Hence, they follow that way by investing some money and expect to make big money in the future. But if they still do that without searching for the other coins, they will ruin and lose their money without having a chance to recover.

So many people have been creating awareness for them if what they have done actually wrong. I don't know whether they have brain or not but they keep repeating the same mistake again and again.

[Fakhrulenclix]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?

both are people who do that, the first is done by people who already know the risks and they choose to gamble to take big profits. then the second one was followed by beginners who are new to crypto from the predecessors who have taken huge profits when buying meme coins, of course it becomes an attraction for people who are new to crypto to try their luck with the same thing on meme coin.

[sarmrakib]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?



This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

People inverse with less knowledge on trading.The developer of the coin had a good knowledge to scam other people with some of marketing strategy.The list on some small exchange and get the money of the people.After the capital raised as per their wish,they will started to close the project and fly with the investors money.Don't do inverse blindly on any coin without investigation.

I think he/she ,who invest on meme coin or shitcoin they actually have nothing knowledge behind it .They are mostly new .On the other hand some gambler are doing this kind of investment ,so that he might be rich or loss his/her invested amount .I never suggest anyone to invest on meme coin or shitcoin cause these has nothing concern about crypto .So i think we have to be more aware to ignore this kind of coin to add on our portfolio .We just to need to invest on strong project which has a sure future .So that we can get a good return for long term .

[Gozie51]

Shit and Meme coins like gambling. It is able to give big profit in less time. So the Newbie prefers these coins a lot. they have small amount of usd to investment so they invest there usd in Meme coin. Which enables them to buy many tokens for less money.

These are the main reason for hodling shit and meme coins. It is luck based not about real value and hodling for longer time. Meme coins are cheaper and you get millions of unit with few dollars. The ROI is expectedly higher if lucky on the investment.

So these tokens are very popular among Newbies. Because they are not aware of the risks about these

Is not only with newbies because experienced people also invest in it. Is about how to make profit fast and get off the hook. So not just the business of newbies.

[Oneandpure]

First of all, i think meme coins comes on market by promoted a influencer or some groups, and mostly newbies will buy those coins and they caught in this trap and when team will make good money then they will be left this the common scenario of such projects. Shiba,Safemoon and a few coins are got too hype so that still this trend is ongoing and a lots of peoples are interested to invest here.

Many influencer promoting shit coin on their social media account from Youtube, Instagram and Twitter where they have billion follower and easy how to make their follower believe with their coin promoting, bad thing with promoting words like profit more than 4000% make many people blind and allow what influencer want, they buy shit coin with much money and later after success sold out the influencer and owner run away and just said sorry when coin dump.

[South Park]

It's because of the hope that they might find the fortune of their lives there. Nothing can stop them until they've failed for so many times. But I think many have made their profit on it and that info scattered like a disease and many have thought of the same idea which might make them money through investing in meme coins or any coin of the same. It's like the lottery to them and taking a shot, if ever they're lucky then that's money for them but if ever they lose again, they just accept and try again.

Unfortunately this is the incorrect way to go about this, investing and gambling are completely different activities, I like to gamble from time to time and I do so knowing very well that the chances I am going to win are very low, but when it comes to investing you need to be absolutely certain that you are going to win otherwise it is better to not invest in the coin at all, however most people do not it this way and prefer to invest in those meme coins even when they know the risk is high, and when that is the case there is nothing we can do or say to make them to reconsider their decision.

[seleme]

The reason is simple, get quick rich schemes still keep busy minds of new investors who keep investing in meme altcoins. Several years ago only ICO was used to scam the other people's money, now NFT and meme coins are there for exact same reasons. I doubt these assumptions will change soon since people ignore the recommendations by pro traders and go for quick money making methods.