Are memecoins tarnishing the image of crypto?

[DoublerHunter]

Memecoins are better invested during the bull, this is the best time because you should be ready to cash out soon with the pump before it dumps. So it is not all of them that are scam but they are low volume as they hardly create demand because of their usage which doesn't really reach out to large number of people niche. Another factor to look for is who is under the memecoin, who controls or hypes it. Like Elon musk hyped dogecoin, many people began to buy it because of who was identifying with dogecoin .

^ Investing in memecoins can indeed be profitable during bull markets, as these periods often see significant price surges and hype around certain coins. Timing your investments to catch the pump before it potentially dumps can be a strategy some investors use to capitalize on short-term gains. It is definitely right, it is true that not all memecoins are scams, their low volume and limited usage can hinder long-term sustainability and mass adoption. Many memecoins cater to niche communities, which can limit their mainstream appeal and demand just like for example Elon Musk's support for Dogecoin is a prime example of how influential figures can impact a coin's value. The hype generated by well-known personalities can attract a surge of buyers, but this should not be the sole reason for investing in any cryptocurrency.

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[Oilacris]

Memecoins are better invested during the bull, this is the best time because you should be ready to cash out soon with the pump before it dumps. So it is not all of them that are scam but they are low volume as they hardly create demand because of their usage which doesn't really reach out to large number of people niche. Another factor to look for is who is under the memecoin, who controls or hypes it. Like Elon musk hyped dogecoin, many people began to buy it because of who was identifying with dogecoin .

^ Investing in memecoins can indeed be profitable during bull markets, as these periods often see significant price surges and hype around certain coins. Timing your investments to catch the pump before it potentially dumps can be a strategy some investors use to capitalize on short-term gains. It is definitely right, it is true that not all memecoins are scams, their low volume and limited usage can hinder long-term sustainability and mass adoption. Many memecoins cater to niche communities, which can limit their mainstream appeal and demand just like for example Elon Musk's support for Dogecoin is a prime example of how influential figures can impact a coin's value. The hype generated by well-known personalities can attract a surge of buyers, but this should not be the sole reason for investing in any cryptocurrency.

Even not on the bullmarkets on which there are still people who do make out money with meme coin investment but of course its not something that would really be giving out some assurance but rather

it would be a risky move to be done by someone but profitable if it done right plus having the luck because not all meme coins do pump and just like with those typical altcoins in the market on which it do really make out tons of rugpull and this is why people should really be careful on investing to this. We've seen into those trends on which making use of Dog based meme coins and next we do have those pepe like coins and next is to those having that cartoon characters kind of naming with those coins and so on. Recently, i have seen about 2.0 or 3.0 or this had become the trend
and i dont know on whats next because it do keeps on having those kind of changes when it comes to name hypes and something like this.

About on the issue about tarnishing then its pretty common that there would really be frauds and scams projects which these things arent something new and something that should really be careful about. Dont make yourself get dragged with the hype and always DYOR on choosing up your meme coin but dont expect something like this to be hold up for long term because we do know
that meme coins arent that good on holding for long and just good for short term duration.Just look for one time pump then get out on securing your profits and then find another one.

[libert19]

In my honest opinion, most of crypto is useless. Now regarding meme coins, Some people get overnight rich with them and some fall to scams — those who become rich will praise crypto even tho it's mostly useless whereas those who fall victim to scams or just lose money in market will blame it despite there being low percentage of good things in it. I think somehow it evens out.

[armanda90]

I don't think with present of meme coin give impact for tarnishing the image of cryptocurrency, many people earn much profit after investing in memecoin actually if you still remember with shiba coin when success listing on Binance many investor earn more than 1000% profitable due increasing price. Actually present with memecoins will give unique cryptocurrency to earn much profitable than investing in top coins difficult on short time can raise more higher than memecoins.

Not problem investing in memecoin and its tarnishing the image cryptocurrency, be careful with investing in memecoins have start in the early time when launching to public, don't push your self to buy memecoins when price raising up because high risk when price going down difficult recovery to higher price.

[CODE200]

Memecoins are better invested during the bull, this is the best time because you should be ready to cash out soon with the pump before it dumps.

Be careful with this advice, some might take it to heart to do it and they might just blindly invest in shitcoins hoping to hit the jackpot. Remember when Squid Game got popular and some scammers created a token of that but then created a pump and dump scheme to scam their buyers who can't do anything about it, that's the implication of people riding on anything that trends without thinking. In regards to the question about memecoin being a bad reputation for crypto, I don't think that it is because there's far worse stuff that people associate crypto with like Darknet stuff and money laundering.

[doomloop]

For beginners, it's advisable to steer clear of memecoins. However, if they still want to get involved, they should consider investing in memecoins listed on reputable exchanges, even if it means earning lower profits. One example I follow is Bitget's memezone, where memecoins may not be listed at the start of their project but get listed at an early stage. Unlike DEX, these platforms provides more security, reducing concerns about being unable to sell,or removal of LPs.

Why should the blame be on all cryptocurrencies when those newbies don't do any research before making any investments? Who in their right senses would spend their money on something without even getting to know it first? Would you do it? I don't think so because I wouldn't. No one likes to lose money, so when someone is making an investment, it's their responsibility to first do some research about it and understand how it is and how it works, and what it is, and then go ahead.

Those newbies who get greedy and invest in these meme coins are to be blamed for that because they know these coins can sometimes provide great profits and that is the reason why they invest in them, otherwise, even they know that these are not actual cryptocurrencies but are just shills.

[avp2306]

Not really because even if meme coin is known to be a pure scam it didn't give any big problem as a whole since many already know that there are just a scam dev take the advantage on what is the current trend in some particular season. And beside there are so many things that people would probably love about crypto and meme coin scam is just isolated cases which people can avoid if they just do there research before investing.

[Nrcewker]

Not all memecoins are scam according to me. The coins which are launched on daily basis are just use to scam, and I don’t consider those as memecoins. A memecoin should be popular in order to consider in that category. Whereas the scamcoins main motive is to scam investors money and do scam exit. Regarding tarnishing the image, then yes these provides a different perspective towards the people about crypto.

[tjtonmoy]

Those who are beginners and starting their journey, they should always consider starting with Bitcoin. Newbies are very easily influenced by price jumps and quick profits. That's why those coins that are growing based on trends most likely attract newbies the most. This is where meme coins play their part. They create hype and as it is a meme coin, other growth done by some meme coins previously that are doing well in the market makes it look like it got the potential too. But as newbies lack knowledge, they can not figure out which one is a scam.

Bitcoin's development and the time that it has existed is proof alone that this will be the best choice. It is not going anywhere. Quick gain and greed is not the best option while trading/investing. Start low and then look for the bigger fish. Meme coins are a part of altcoins. So they are shit.

[AnonBitCoiner]

This is true that meme coins become scams but it is also true that there are meme coins which give lots of benefits to its holders. The main thing behind risk factors is that it goes down to lower price very soon so those individuals who are involved in short term trading will loss all money in a matter of seconds.

There is no doubt that some meme coins are scam but people before investing should acknowledge that on which exchange it is listed, scamming other people is easy but if one use his mind so wrong decision will be rarely made.

[LogitechMouse]

It's not only meme coins, but any new project has the opportunity to destroy the image of crypto by scamming those investors.

On the other hand, there will always be new investors that will invest into the crypto market, and unfortunately, these are the targets of these scammers. The problem with some investors is that they can easily get attracted with the amount of money that they can get if they invest into that project whether it's a meme coin or not, and not thinking of the possible risks that they can get. They don't care, but what they care is the money.

While I agree that meme coins can tarnish the image of crypto, I still believe that there are still good things that meme coins can give. Just think of how Elon Musk hyped crypto with his DOGE-shill a few years ago. I'm pretty sure because of that, new investors came thus, new money came to flow, and at the same time, the popularity of crypto just went up because we know how influential Elon is. Though many investors lost from that DOGE hype, we know that crypto in general became more popular because of a meme coin that's been hyped.

Overall, meme coins not only tarnish the image of crypto, but at least it also boosts it's popularity in one way or another.

[milewilda]

For beginners, it's advisable to steer clear of memecoins. However, if they still want to get involved, they should consider investing in memecoins listed on reputable exchanges, even if it means earning lower profits. One example I follow is Bitget's memezone, where memecoins may not be listed at the start of their project but get listed at an early stage. Unlike DEX, these platforms provides more security, reducing concerns about being unable to sell,or removal of LPs.

Why should the blame be on all cryptocurrencies when those newbies don't do any research before making any investments? Who in their right senses would spend their money on something without even getting to know it first? Would you do it? I don't think so because I wouldn't. No one likes to lose money, so when someone is making an investment, it's their responsibility to first do some research about it and understand how it is and how it works, and what it is, and then go ahead.

Those newbies who get greedy and invest in these meme coins are to be blamed for that because they know these coins can sometimes provide great profits and that is the reason why they invest in them, otherwise, even they know that these are not actual cryptocurrencies but are just shills.

Not that new anymore on which people would really be generally be having those kind of blaming on the time that they would really be able to experience out unfortunate events on their investment here on crypto space
on which they would really be that conclusive when it comes to that kind of approach that everything is really that tarnishing crypto space and would really be that pour into meme coins without even trying out to realize
that even those typical altcoins would really be just that the same when it comes to those kind of situation on which scams and frauds are ally just that lurking around.It is really just that there are really projects
which are totally fraud and been created for the sake of money grab with those newbie investors on to those who arent that making their research before funding on a particular project.Its not something new
anymore and this is why you should really be that be careful on choosing which one if you dont really like ending up on losing money. One of the risks of losing money is through scam and fraud
project and if you do make yourself not really that careful with it, then for sure you would really be suffering those huge loss.

[ancafe]

Every day, thousands of memecoins are launched, and unfortunately, around 95% of them turn out to be scams. This scam epidemic is affecting many people, especially newcomers who lack experience and are more vulnerable to such scams.

The issue arises when newbies join the crypto space and fall victim to these scammers, leading them to blame all of crypto as a scam. While some memecoins have indeed damaged the reputation of the crypto industry, others have achieved incredible success, with values skyrocketing by 100 or even 1000 times.

If that is the problem then just forget about such a new project, a lot of memecoins that was launched and most of them did not get a place in the market and in the end scam. This is a weakness for some beginners and they are easily fooled by the new project launched, they must try to analyze and continue to find sources before being involved in it. But in my opinion there is no connection in the case of girishing that can damage the reputation of Crypto, because we are used to seeing the release launched and the next day there will be fraud.

It is very difficult to check for memecoins and especially for beginners who don't understand anything. It is better to avoid being involved in such a new project because of the opportunity to get enormous losses and better focus on the main objectives of Bitcon. Fraud epidemic is based on the extent to which people can avoid the nature of fraud itself and how to have knowledge so as not to get caught up in it.

[jossiel]

Those newbies who get greedy and invest in these meme coins are to be blamed for that because they know these coins can sometimes provide great profits and that is the reason why they invest in them, otherwise, even they know that these are not actual cryptocurrencies but are just shills.

Well, wherever the money is then the crowd goes there as well. The problem with these folks is that they're able to attract other people invest into meme coins.

That's why these developers have seen that potential that if they just keep on doing it, the money will just keep on flowing on them no matter what useless meme coin they make.

[lixer]

In my honest opinion, most of crypto is useless. Now regarding meme coins, Some people get overnight rich with them and some fall to scams — those who become rich will praise crypto even tho it's mostly useless whereas those who fall victim to scams or just lose money in market will blame it despite there being low percentage of good things in it. I think somehow it evens out.

If we talk about quantity, there are way more scam tokens in the name of meme coins than those that make a few people rich overnight, it's almost like a 100:1 ratio approximately, so I don't think that it evens out because it is making a bad name for cryptocurrencies in the first place as meme coins that gain significant success are not a lot in quantity. The victims of meme coins are mainly newbies because they think they can get rich-quick through cryptocurrencies.

But all in all, if we take out meme coins from the industry, we will have a much better and cleaner place for serious investors. These meme coins are the reason why a lot of serious investors decide not to invest in cryptocurrencies because they think they will also lose their money in scams.

[libert19]

But all in all, if we take out meme coins from the industry, we will have a much better and cleaner place for serious investors. These meme coins are the reason why a lot of serious investors decide not to invest in cryptocurrencies because they think they will also lose their money in scams.

I don't think serious investors would exclude whole crypto sector just because of some shitty part which is meme coins, at most they would just stay away from memecoins or may be invest little money as a gamble.

[Gallar]

~Snip

Broadly speaking, coin memes that are proven to have committed fraud, will certainly have little effect on the image and reputation of crypto currency. Especially for beginners who are trying to buy crypto for the first time, but because of ignorance, these beginners instead buy spam or fraudulent coin memes, and in the end the beginners suffer losses. It is certain that in the mind of the beginner there will be a perception that cryptocurrency is a fraud and cannot be trusted. So in the end the beginner, more or less definitely will not trust cryptocurrencies too much, due to these losses.

However, it will be a different story if those who experience losses due to meme coins are people who understand enough about crypto assets. Of course, even losing money would not brand all cryptocurrencies as scams. Because in his mind there is knowledge and knowledge about cryptocurrencies, which can already distinguish which coins are high quality and which coins are of less quality. So this is where it is important to study first before plunging into the realm of crypto currency.

So in conclusion, coin memes that are indeed fraudulent, will definitely more or less have a negative impact on the image of cryptocurrencies. Because after all meme coin is a part of cryptocurrency. So basically the positive or negative impact caused by the meme coin will always affect the image of crypto currency. But keep in mind, not all coin memes always commit fraud.

[Strongkored]

But all in all, if we take out meme coins from the industry, we will have a much better and cleaner place for serious investors. These meme coins are the reason why a lot of serious investors decide not to invest in cryptocurrencies because they think they will also lose their money in scams.

I don't think serious investors would exclude whole crypto sector just because of some shitty part which is meme coins, at most they would just stay away from memecoins or may be invest little money as a gamble.

Investors, especially whales, will always try to take the opportunity to be able to add to their assets by risking their money in small portions because they know that if it turns out that the chosen meme coin can be pumped it can provide big profits in a short time.
And the presence of memecoin will never tarnish the world of crypto because precisely the presence of coins like that will provide a lesson which coins are indeed worthy of being used as long-term investments.

[tbct_mt2]

Investors, especially whales, will always try to take the opportunity to be able to add to their assets by risking their money in small portions because they know that if it turns out that the chosen meme coin can be pumped it can provide big profits in a short time.

Big investors like whales have very big capital and they are enough experienced as well as have enough patience to make plans and gradually execute their plans. They can do it over many months without any problem such as FOMO like amateur traders and investors.

Because they have big capital, it's reasonable to split their capital to different parts that are bigger than small investors' capital. One more reason that forces whales to split their capital and do their plans over long time, is if they use all big capital in one day, it will affect the market price a lot. They don't want to make such big signal in trading volume and price break out and they would prefer to accumulate or take profit, distribute capital slowly and gradually.

[libert19]

I don't think serious investors would exclude whole crypto sector just because of some shitty part which is meme coins, at most they would just stay away from memecoins or may be invest little money as a gamble.

Investors, especially whales, will always try to take the opportunity to be able to add to their assets by risking their money in small portions because they know that if it turns out that the chosen meme coin can be pumped it can provide big profits in a short time.
And the presence of memecoin will never tarnish the world of crypto because precisely the presence of coins like that will provide a lesson which coins are indeed worthy of being used as long-term investments

That portion reminded me of a quote I read in a book that even bad in the world is only servant of the good.