Are memecoins tarnishing the image of crypto?

[palle11]

What meme coins is doing, is being a good competition to the originals. Else, how would innovation arise.
It also serves to enable upcoming or newbie traders learn how to trade seeing the ease of buying some of these meme coins.
Meme coins,  although it is not advisable to invest huge funds in them, they more than help create awareness for crypto.

They are serving some purpose in the crypto market. They create fast wealth for the wise with the pump and dump nature of not hodling for long. Then this important one of creating hype can not be over emphasize, they create buzz for cryptocurrency. Memecoins like doge gave a big hype for cryptocurrency last year and gave lucky investors unexpected profit from the hype by Elon musk. Shiba Inu is another of such that some investors have spoken about to be able creating some vibes in the future. Memecoins make the market to be lively with quick buy, quick sell which the market also need to create traffic also.

[Hamphser]

What meme coins is doing, is being a good competition to the originals. Else, how would innovation arise.
It also serves to enable upcoming or newbie traders learn how to trade seeing the ease of buying some of these meme coins.
Meme coins,  although it is not advisable to invest huge funds in them, they more than help create awareness for crypto.

They are serving some purpose in the crypto market. They create fast wealth for the wise with the pump and dump nature of not hodling for long. Then this important one of creating hype can not be over emphasize, they create buzz for cryptocurrency. Memecoins like doge gave a big hype for cryptocurrency last year and gave lucky investors unexpected profit from the hype by Elon musk. Shiba Inu is another of such that some investors have spoken about to be able creating some vibes in the future. Memecoins make the market to be lively with quick buy, quick sell which the market also need to create traffic also.

Cant really say that they do have the purpose but those coins mentioned above are the meme coins which had been mainly been that being pumped due to some hype and recommendation on which it is really that

something that could possibly happen on this space and this is why when it comes to recognition and awareness on which it cant really be avoided that meme coins would really be getting in that kind of attention.
This is why there would really be those people who are really that tending to dive in without having that kind of thinking about being a meme or not.The thing that they would really be having on mind is that they would be able to make out such investment and having the probabilities that they could really be able to make huge income or profit on the time that it would really be making out such significant pump.

This is why you cant really stop people on recognizing out those meme coins or other altcoins on trying out to invest because of having that kind of target which is something that you cant really be able stop
and this cycle would really continue out no matter what.

[Awaklara]

They are serving some purpose in the crypto market. They create fast wealth for the wise with the pump and dump nature of not hodling for long. Then this important one of creating hype can not be over emphasize, they create buzz for cryptocurrency. Memecoins like doge gave a big hype for cryptocurrency last year and gave lucky investors unexpected profit from the hype by Elon musk. Shiba Inu is another of such that some investors have spoken about to be able creating some vibes in the future. Memecoins make the market to be lively with quick buy, quick sell which the market also need to create traffic also.

but because of the hype from Doge and Shiba, we can see efforts from irresponsible people as if to develop new memecoins. there are not a few of them, and that's just to fool anyone caught up in a pump-and-dump scheme.
be careful with memecoin if indeed we can't follow the market direction quickly. we can sink into a very deep well if we only follow people on social media.

[khiholangkang]

They are serving some purpose in the crypto market. They create fast wealth for the wise with the pump and dump nature of not hodling for long. Then this important one of creating hype can not be over emphasize, they create buzz for cryptocurrency. Memecoins like doge gave a big hype for cryptocurrency last year and gave lucky investors unexpected profit from the hype by Elon musk. Shiba Inu is another of such that some investors have spoken about to be able creating some vibes in the future. Memecoins make the market to be lively with quick buy, quick sell which the market also need to create traffic also.

but because of the hype from Doge and Shiba, we can see efforts from irresponsible people as if to develop new memecoins. there are not a few of them, and that's just to fool anyone caught up in a pump-and-dump scheme.
be careful with memecoin if indeed we can't follow the market direction quickly. we can sink into a very deep well if we only follow people on social media.

As a result of shiba and doge indeed making meme coin developers explode to create many new meme projects, without using more resources as is common for other coin development, we have to be really careful if we really want to join memecoin because it is very dangerous, lags some time Of course, you will lose money easily.
talking about the title that the scam on the meme coin project doesn't damage the image of crypto, because if you look at the many scam coin memes it doesn't become a concern and conversation for anyone, unless Shiba and doge are bankrupt, it will most likely damage the name of crypto in the market.

[savetheFORUM]

Memecoins don't tarnish any crypto image. You can hate them for all you want but their presence provides hype and excitement in the industry and invariably help draw the attention of the public to cryptos. Yes, we know most of these memecoins later become worthless but that isn't before it leaves some wealthy as it leaves others poor. Those who are usually trapped in losses are those who think they can turn the worthless coins to Bitcoin in value. If anyone has to invest in memecoins, they should know they're short term investment; usually a kind of "hit and run" thing in my local parlance.

I think that's the problem, it shouldn't really create hype, do people get hyped about tesla stocks? I mean maybe but not the same way, there is still some logic behind it. The fact that memecoins are there so that people would have fun doesn't make any sense to me.

It diminishes the value that we created in the crypto world, we took bitcoin from "drug dealers use it" and "it's fake money, you will lose it all" and made it into something that is "the huge billion dollar companies started to invest into it" and "even nations are making it legal tender". When you take sometime from that low to that high, that means that we did something right and memecoins are taking it all the way back to "this is fake money and you will lose all of it" very quickly.

There were a lot of people and a lot of things that were done trying to stop Bitcoin from rising and get it down on its knees but did any of that actually work? No, they all vanished over time and Bitcoin is here and it's getting better and bigger with time. Similarly, no matter what image these meme coins are making of Bitcoin and cryptocurrencies, the world will come to know that there is a very big difference between the two, and then only genuine cryptocurrencies will be used.

I know there will always be some people who will still keep trying to earn a lot of money overnight by creating such coins and tokens and selling them to vulnerable people inspiring them with stories of how people became millionaires by investing in similar coins and tokens and some will even take the bait.

[JeffBrad12]

it's honestly matter of an individual who's gonna be investing, if they are smart enough to understand the concept of meme coins in general compared with altcoins with fundamentals they wouldn't even correlate it with the images of bitcoin or cryptocurrency in general.
the thing is that, these meme coins are sometimes trying to gather investors that are quite new in cryptocurrency, these kind of investors that they are seeking are the ones that are greedy to get rich quick and then they bring them down and cause them to lose capital which make them assuming as if cryptocurrency investment is just shitcoin investment. i wouldn't say it tarnishing cryptocurrency as an investment in general, its just that they often mislead people.

[TheUltraElite]

but because of the hype from Doge and Shiba, we can see efforts from irresponsible people as if to develop new memecoins. there are not a few of them, and that's just to fool anyone caught up in a pump-and-dump scheme.
be careful with memecoin if indeed we can't follow the market direction quickly. we can sink into a very deep well if we only follow people on social media.

Two things, don't follow people on social media and do not invest in every hyip like project that comes up in the news. Follow these things and you should be safe from memecoins. Of course from a non-biased approach they have made a bad name of crypto but then it is the choice of the investor to make the decision of putting in their money, not the project owners.

This comes mainly from the newbies in trading but I have seen veterans get scammed too with such projects. Nevertheless there is no exception to the scam nature or a get-rich-quick scheme.

[poodle63]

but because of the hype from Doge and Shiba, we can see efforts from irresponsible people as if to develop new memecoins. there are not a few of them, and that's just to fool anyone caught up in a pump-and-dump scheme.
be careful with memecoin if indeed we can't follow the market direction quickly. we can sink into a very deep well if we only follow people on social media.

Two things, don't follow people on social media and do not invest in every hyip like project that comes up in the news. Follow these things and you should be safe from memecoins. Of course from a non-biased approach they have made a bad name of crypto but then it is the choice of the investor to make the decision of putting in their money, not the project owners.

This comes mainly from the newbies in trading but I have seen veterans get scammed too with such projects. Nevertheless there is no exception to the scam nature or a get-rich-quick scheme.

it might seems rather unfair that these shitcoins are tarnishing the reputation of cryptocurrencies for the sake of their own profits but its also the mistake of many people
to invest in meme coins and wanna get rich quick and blaming the whole cryptocurrency market for their own mistake is rather silly, so I don't think its justified in my perspective.
but it doesn't matter honestly, the market capitalization of cryptocurrency in total still quite high which is 1 trillion dollars goes to show that its still a huge investment market.
the shitcoin are there just for people to speculate, and I think everyone investing in shitcoin knowing well it has the chance to turn their money into literally nothing.

[Mahanton]

but because of the hype from Doge and Shiba, we can see efforts from irresponsible people as if to develop new memecoins. there are not a few of them, and that's just to fool anyone caught up in a pump-and-dump scheme.
be careful with memecoin if indeed we can't follow the market direction quickly. we can sink into a very deep well if we only follow people on social media.

Two things, don't follow people on social media and do not invest in every hyip like project that comes up in the news. Follow these things and you should be safe from memecoins. Of course from a non-biased approach they have made a bad name of crypto but then it is the choice of the investor to make the decision of putting in their money, not the project owners.

This comes mainly from the newbies in trading but I have seen veterans get scammed too with such projects. Nevertheless there is no exception to the scam nature or a get-rich-quick scheme.

it might seems rather unfair that these shitcoins are tarnishing the reputation of cryptocurrencies for the sake of their own profits but its also the mistake of many people
to invest in meme coins and wanna get rich quick and blaming the whole cryptocurrency market for their own mistake is rather silly, so I don't think its justified in my perspective.
but it doesn't matter honestly, the market capitalization of cryptocurrency in total still quite high which is 1 trillion dollars goes to show that its still a huge investment market.
the shitcoin are there just for people to speculate, and I think everyone investing in shitcoin knowing well it has the chance to turn their money into literally nothing.

Bare in mind that if there were no people who do invest with neither those shit coins or meme coins in the market then pretty sure that there would be no devs that would be continuing on creating one but since they do see the different on which there's really a demand into it then there's no doubt that they would be creating tons of it because there are blind investors who do really that keep on believing that they could get rich on investing on meme coins or some shit tokens when it gets pumped. Cant really be denied that the chances or odds is there but the chance of losing your investment is high if you havent been able to do such thing properly like getting out
when it gets pumped or simply when you are on green. We know on how pump and dump works and this is what the basic movements or fundamentals on which it is really that usually happening on these projects. We know that even these things are shit but there are still people who do continue to support and invest because they do really believe on one thing which having the chance on becoming rich specially if these coins do able to hit up that 10-100x-or even 1000x easily which we know that it is really that possible on this crypto space specially if its been hyped up. Everything is possible but really on rare chances.

[GreatArkansas]

What meme coins is doing, is being a good competition to the originals. Else, how would innovation arise.
It also serves to enable upcoming or newbie traders learn how to trade seeing the ease of buying some of these meme coins.
Meme coins,  although it is not advisable to invest huge funds in them, they more than help create awareness for crypto.

They are serving some purpose in the crypto market. They create fast wealth for the wise with the pump and dump nature of not hodling for long. Then this important one of creating hype can not be over emphasize, they create buzz for cryptocurrency. Memecoins like doge gave a big hype for cryptocurrency last year and gave lucky investors unexpected profit from the hype by Elon musk. Shiba Inu is another of such that some investors have spoken about to be able creating some vibes in the future. Memecoins make the market to be lively with quick buy, quick sell which the market also need to create traffic also.

It's like an advertisement in the cryptocurrency market. Even though there are already a lot of scams happening on meme coins, people are still here. Because for sure of the enormous return on some meme coin that we already experienced.
People must learn. It's like becoming a Ponzi scheme because most of the people who will benefit are those who are positioned first.

[Finestream]

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

[justdimin]

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

Unfortunately not a lot of people understand this and they make a mistake by keeping that going, I think it should be noted that it is going to take a while before people could make a big deal out of this but then we need to be careful about it as well.

It is going to be tough but people need to hear this and realize that memecoins are terrible and they are not to be trusted or invested. They still do it for some reason but they shouldn't and that is the biggest trouble. I think it should be noted that we are going to end up with a result that will not be the same. I know that it will not be that easy and we are going to end up with a solution that would be different but we need to get rid of memecoins for sure.

[Ziskinberg]

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

Unfortunately not a lot of people understand this and they make a mistake by keeping that going, I think it should be noted that it is going to take a while before people could make a big deal out of this but then we need to be careful about it as well.

It is going to be tough but people need to hear this and realize that memecoins are terrible and they are not to be trusted or invested. They still do it for some reason but they shouldn't and that is the biggest trouble. I think it should be noted that we are going to end up with a result that will not be the same. I know that it will not be that easy and we are going to end up with a solution that would be different but we need to get rid of memecoins for sure.

People take advantage of the situation during the hype thinking that they could make money out of it just for a short while disregarding the risk. And whatever we do (warnings), they don't get it because what is in their mind is to make money. As long as they don't suffer losses from investing in meme coins, no way they could think that it was not a good investment. In fact, as we can see, meme coins investors have grown which means that they are still good. Maybe they are smart enough to handle the situation but if you are new and thinking about holding until bull season, that's going to be a huge mistake.

[carlisle1]

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

Unfortunately not a lot of people understand this and they make a mistake by keeping that going, I think it should be noted that it is going to take a while before people could make a big deal out of this but then we need to be careful about it as well.

It is going to be tough but people need to hear this and realize that memecoins are terrible and they are not to be trusted or invested. They still do it for some reason but they shouldn't and that is the biggest trouble. I think it should be noted that we are going to end up with a result that will not be the same. I know that it will not be that easy and we are going to end up with a solution that would be different but we need to get rid of memecoins for sure.

People take advantage of the situation during the hype thinking that they could make money out of it just for a short while disregarding the risk. And whatever we do (warnings), they don't get it because what is in their mind is to make money. As long as they don't suffer losses from investing in meme coins, no way they could think that it was not a good investment. In fact, as we can see, meme coins investors have grown which means that they are still good. Maybe they are smart enough to handle the situation but if you are new and thinking about holding until bull season, that's going to be a huge mistake.

Most are risk takers as they are willing to take that route, risking their hard earn money in trying whether they will earn decently
into something that they just gamble with the fate of the said meme project.

Riding and trying to take a slice if possible that's the mentality behind, especially for those who have a long experience in terms of investing
with this kind of asset.

Buy low and sell high, easy to say, but in reality, for most victims, buy high and be stuck after.

[JeffBrad12]

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

I just think at this point that seeing from the history of these meme coins in general, its always these meme coins that have really big market capitalization that usually could retain their value for long.
the other that are having some miniscule amount of market capitalization are not so much good at retaining their value in long term.

I guess this is why many are calling it meme coins because its so uncertain about its fate few months into the future, though i would say the main reason it could tarnished the reputation of cryptocurrency is probably due to the fact that many of these meme coins are always trying to impress newbie by giving promise such as massive return is the main reason it could tarnish the reputation.

[Fatunad]

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

I just think at this point that seeing from the history of these meme coins in general, its always these meme coins that have really big market capitalization that usually could retain their value for long.
the other that are having some miniscule amount of market capitalization are not so much good at retaining their value in long term.

I guess this is why many are calling it meme coins because its so uncertain about its fate few months into the future, though i would say the main reason it could tarnished the reputation of cryptocurrency is probably due to the fact that many of these meme coins are always trying to impress newbie by giving promise such as massive return is the main reason it could tarnish the reputation.

On the time that a certain meme coin did able to get that huge recognition on the market then it would be safe to presume that it would really be touching up those known exchange platforms or simply there is really that interest and recognition. Just like on what happened on $PEPE been listed on Binance and so as with those known meme coins which is DOGE and SHIB which did really get that kind of reputation and recognition in the market and the rest would really be just that copycats and  this is something not that shocking nor really that surprising. You could really be able to say that it would really be that totally unpredictable on which or what coins would really be able to reach out that certain state. Thing here or important is that you do really know on when to get in and get out specially on dealing with those copycats in the market.

There are tons and if you do invest blindly then expect that it would bring a huge damage into your investment capital because most of the are really just that pump and dump schemes which it did continually to exist
on this market because newbie investors or even old ones does really have that interest on fueling up these scam or shit projects.

[sana54210]

I just think at this point that seeing from the history of these meme coins in general, its always these meme coins that have really big market capitalization that usually could retain their value for long.
the other that are having some miniscule amount of market capitalization are not so much good at retaining their value in long term.

I guess this is why many are calling it meme coins because its so uncertain about its fate few months into the future, though i would say the main reason it could tarnished the reputation of cryptocurrency is probably due to the fact that many of these meme coins are always trying to impress newbie by giving promise such as massive return is the main reason it could tarnish the reputation.

I think if we do not let them tarnish the name then we do not need to do anything like that at all. I feel like the best thing to do right now would be to make sure that we are on the right path at this moment and do not buy any of them personally, do not get into the hype, do not promote it, do not try to get into their bounties, basically do not be part of it in any capacity and then you could see that it will go down and they will be gone.

Some people will do it, but let them ride the hype out and it will go down and they will regret it. If we keep on talking about how bad they are, it is going to only look like it is tarnishing the name of crypto, because we are out there trying to tell everyone how risky they are.

[TheUltraElite]

it might seems rather unfair that these shitcoins are tarnishing the reputation of cryptocurrencies for the sake of their own profits but its also the mistake of many people
to invest in meme coins and wanna get rich quick and blaming the whole cryptocurrency market for their own mistake is rather silly, so I don't think its justified in my perspective.

The attitude can change and that is what can improve their outcomes. If they don't have that get rich quick attitude and spend some time doing research on previous scams and shitcoins newbies can also learn that most shitcoins are useless if invested in. Then there are those people who promote these shitcoins across every new social media platform. They should be avoided at all costs.

Those who know bitcoin and how altcoins work, will never go for shitcoins and only focus on Bitcoin with patience.

[gunhell16]

When I started in this industry, the only thing I knew was meme coins that are known even though the price value in the market is very cheap, its community is very large, and it is the Dogecoin. Then, after Elon Musk mentioned it on Twitter, it suddenly changed, the wind blew on the dogecoin, and the value suddenly increased where the previous ATH was around 0.7$ something.

Dogecoin was followed by Shiba Inu, which was also mentioned by Elon Musk on Twitter. And the latest this year is the Pepe coin, which has shown something different from other coins and has been ahead for a long time in the crypto space as well. These three I mentioned are the top meme coins that are in almost every exchange you can see now, whether it is CEX or DEX.

So, it means that out of 100%, we can say that only 5 percent can give us a good income in this business field, as long as DYOR is still needed.

[TimeTeller]

When I started in this industry, the only thing I knew was meme coins that are known even though the price value in the market is very cheap, its community is very large, and it is the Dogecoin. Then, after Elon Musk mentioned it on Twitter, it suddenly changed, the wind blew on the dogecoin, and the value suddenly increased where the previous ATH was around 0.7$ something.

Dogecoin was followed by Shiba Inu, which was also mentioned by Elon Musk on Twitter. And the latest this year is the Pepe coin, which has shown something different from other coins and has been ahead for a long time in the crypto space as well. These three I mentioned are the top meme coins that are in almost every exchange you can see now, whether it is CEX or DEX.

So, it means that out of 100%, we can say that only 5 percent can give us a good income in this business field, as long as DYOR is still needed.

We can't deny the fact that these meme coins and tokens have some influence to a lot of newcomers in this market.
They have come to know about crypto because of these projects, so we can't totally discard their significance in this industry.
However, users or investors should still do their own job of research or study on what and how to invest on this market.
Not all meme projects are popular as doge, or shib. Even shib, I still doubt their longevity on this market.
So it is not because they are tarnishing the image of crypto, but all these creators who have no aim but to screw naive users, are those that ruining the image of this type of project.