Can anyone explain what is the value of meme coins?

[Andrik Viate]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

[Upgrade00]

Hype and trends can replace actual utility in the market value.

Investors, especially inexperienced ones which make up the bulk, FOMO into assets when hype goes up. It's a rat race to get in and get a share while the hype exists, this surge in demand increases the perceived value and results in the sky rocketing prices.

Hype can last for a short time, or a much longer one as we can see with meme coins like doge and Shiba. I can't particularly explain why they have lasted this long.
Note, I'm not saying all who invest in hype are naive investors as there is potential for ROI in there, and with a calculated risk one can profit from them.

[noorman0]

It is nothing but an indirect form of gambling integrated in token form without a centralized bookie/house edge. Their only continuation lies in the loyalty of the community, but basically you are competing with each other. When you buy it, it's just like you bet against a lot of people with the same hope that you won't be the last person to get stuck in the dump.

[Godday]

I see for meme coin is a gamble.  What I mean is that meme coins are basically coins that are just a joke.  They have no value.  What counts on meme coins is the trend and hype that is going on with the coins.  Just like some of the meme coins that went from being just a coin with no value to being on par with the top coins in the crypto market.

[Bankless-gypsy]

Since Elon Musk   began promoting Dogecoin, meme-coins have surged in popularity, particularly the cryptocurrencies Shibu Inu and Safemoon. Some see investing in memecoins as madness, while others see them as an opportunity to get rich quickly, earning up to 1000% of the investment. For example, in May 2021, Mark Zuckerberg, CEO of Facebook, posted a photo of his pet goats with the caption "My Goats: Max and Bitcoin. And just hours after that post was published on the social network, the value of the meme-token Aqua Goat ("water goat") went up about 300%. According to price aggregator CoinMarketCap, the three most popular meme-coins are Dogecoin, Shibu Inu and Safemoon (as of June 2021).

Are they worth investing?   Don`t think so.

[Mosharafhh]

Its have no value its made for only joke and sometimes its got market high because of some influencer work behind this coin.but its have no actual usecases but its possible to add usecases in future like any payment method or any types of gambling, nft then it will more perfect for holders!

[bakasabo]

The value of meme coins is determined by the amount buyer is ready to pay. If someone is ready to pay for air, then why not sell it to him? If the this buyer already have another person to buy it, then why not supply him with worthless coins? As long as there is a demand, there will be a supply. Value of meme coins is a chain reaction with buyers and resellers, where greed conducts everything.

[bittick]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

You're right if it doesn't have any value. The correct thing is if it meme token was only getting its value from the speculation by traders and the whales. The real value of meme token is not even exist. This token being created as a joke token that has no value. People are so dumb by consider the meme token as long term investment which is a very bad thing for sure. Im sure that if you will be seeing so many meme tokens dead in the market.
This proves that meme token was only for a speculation only

[cryptomaniac_xxx]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

As you have said, they are just meme coins, influence by people such as Elon Musk or the social media itself, in short just pure hype nothing more nothing less.

And so you are correct, they don't offer real usage, that's why it's very dangerous to invest on them because they are being used for pump and dump scheme. Of course you can ride on them, but nevertheless, the price will not go on a parabolic rise. And sooner or later it will go down hard.

[avikz]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Congratulations! You sound mature! Memecoins and NFTs are both two sides of a coin which doesn't have any value. That's why you will see thousands of memecoins are getting added in Pancakeswap every month but disappears after a short while. The creator of those coins launch it and let it get traded, once the price is at ATH, they sell of their holdings and exit the market.

So stay away from NFTs and memecoins at all costs!

[Maus0728]

Similar to funny images, text, videos, GIF or any other kinds of format that is being distributed all over the internet, meme coins follows the same concept but on steroids due to some endorsement/shilling made by celebrities/billionaires in the industry that makes them popular and vulnerable to hype.

In other words, their value is driven by popularity and not by a sensible use case.

[youdacapt]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Meme coins means different things to separate investors and you need to discover the niche with which you want to invest into. Meme coins are good tokens, they have their separate use case, some have auto staking, some share token or busd rewards while some are just there surviving on just hypes. As an investor, you should find out and know when to buy and take profits if you want to try meme tokens trade

[asriloni]

I am confused that there are meme coins whose prices are sky rocketing

That shit token already manipulated by the whales. That's not even worth to consider this kind of token as investment for long term. Sometime the skyrocketing in the price of meme token due to the whale pump and FOMO.
People are following FOMO and they were buying the shit token massively.

but I dont see any real value these meme coins are providing

You got the point mate. People are using it as a money machine generator. These days there are bunch of people wanna get instant profit and they were following the pump that happened with the meme token to get some money instantly.

that's why we have called that as a shit token that has no usability.

[Accardo]

The value of memecoins are nothing compared to coins with use cases or attached to the blockchain network. The moment memecoins gets attached to the blockchain it'll have a value and investors will see more reasons to hold them but, this means nothing to a fresh investors who joined the cryptocurrency market because of memecoins.

An investor that got introduced to cryptocurrency by a dogecoin hodler will definitely buy Doge. You see why the price is rising? The market that attracts more investors will definitely grow. Currently Doge is trading at over $100million daily and the 13 largest cryptocurrency according to coinmarketcap.

Everyone accuse memecoin to be a joke coin and jokes don't stay forever, but, through entertainers potential investors can be brought into cryptocurrency. Most people knew cryptocurrency because of memecoins.

Regardless of their failure to make profits using memecoins, they now have a platform to start their cryptocurrency journey and move it forward. Experience they say is the best teacher. So, memecoins rise in price because their jokes attracts more investors into cryptocurrency.

[Wexnident]

Hype. That's it. It may seem odd, or weird, but that's how the market goes. And investors with a lot of money can basically use that hype to well, hype it more up so that they can profit in the end by baiting new investors. It's basically a manipulation of the entire market of that certain coin imo, and honestly even if new investors realize that it's full of hype, it is a fact that they can make profit off of it if they were able to enter early on. Now the hard thing is figuring out that "early" part since really, most of the time they're already too late.

[JeffBrad12]

Meme token has no value. People are buying on the speculation. Small traders are using this token as a way to get easy money. People were not buying any token but they were only buying the speculation if the token will give them money. It can be said that if those are wasting their money to buy the scam token like meme token. Doge coin and shiba inu were different case. Thousands of meme tokens gone as the bearish market has come.
So, you shall not be surprised to see that. We are in the speculation market. Even token that worth nothing can be speculated if that will worth something.

[TheUltraElite]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Memecoins are as good as memes. They have their time of being viral and then die out gradually only to have small spikes of activity in future. Same memecoins are hyped assets that have gained value from excessive buying that some shill groups have done. Hence if you own any of such coins, just sell them at an inflated price and cash out, dont hold from for too long. In case you never got any, refrain from making a new investment in your portfolio.

Truely, they have no value, but if someone keeps buying at higher price and someone keeps selling at higher prices, it seems as though the trading base is active, while in reality it is not much in development or long term value.

[Anonylz]

Just like the name imply, meme coins are fun coins that have no strong utility to back them for long term sustainability. meme coins or project are mostly short term investment (if you get lucky you can make a huge sum withing a short period) but they are not for long term investment.
@op if you consider investing in any of the meme coins available in the market, remember they are for short term and anything can happen with the project and you may end up losing your investment.

[Crypt0Gore]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Are you sure you've looked into the popular meme coins? There are a few that have good utility for example Shiba Inu and Doge dash, and I want to remind you that projects with good utilities do fail as well, for example Luna, if we are talking about gamble then everything crypto is a gamble.

[Jackl87]

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Well i can only say that i have the same opinion about meme-coins as you. They don't really have a real use-case and they don't offer any functionality for their users. That is also a reason why a lot of people call them shit-coins. The reason why a lot of those shit-coins showed such a good price performance was pretty simple and also pretty ridiculous to be honest. Elon Musk made a tweet about Dogecoin a few months ago and that was enough to make the price of Dogecoin itself rise significantly it also was the reason why the wave of second generation meme-coins started a few months ago. During the peak of the meme-coin craze there were like hundreds of new meme-coins appearing every week and 99% percent of them were dead again after a few days.
Thank god the meme-coin hype is over.