Memecoins Vs legit Altcoins in 2023

[Nazmul012]

Memecoin won't going to stop, i guess it'll be continued even after next bull session. Launching bags of memecoin theory is simple. People are involving memecoin more than before, investing blindly to multiple their Capital within short period. So why not scammers taking an advantage of this situation?? People don't want to go for safe investment like btc etc, they just want to take high risk. That's the problem.

[JeffBrad12]

Memecoin won't going to stop, i guess it'll be continued even after next bull session. Launching bags of memecoin theory is simple. People are involving memecoin more than before, investing blindly to multiple their Capital within short period. So why not scammers taking an advantage of this situation?? People don't want to go for safe investment like btc etc, they just want to take high risk. That's the problem.

not that they are trying to take high risk blindly, sometimes their relatively smaller capital than the other people are forcing them to find some investment options that could easily multiple their investment although risky, this is the thing with meme coins most of the investors are just some newbies and desperate for getting rich quicker.
they just disregard the chance of their investment vanishing into thin air, therefore why so many are still investing in meme coins until this day.
their small capital make them choose something thats faster to get the returns, unlike investing in btc and eth which rather requires some bigger investment to be meaningful.

[zasad@]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

You say that the memcoin market is growing although you do not provide official statistics. I think that new coins are constantly appearing in this market, but only those users who are subscribed to special channels and news receive information about them. If you go to the communities of degen traders, you will also be surprised by the huge number of useless projects.

[Blitzboy]

Memecoin is garbage, as you properly noted. These "investments" signify nothing in finance. That bitcoin popularity would rise in 2023 is unexpected.

Instead, the broad appeal to the public, which is more influenced by memes and trends than by competent financial advice, is the cause. Memecoins aren't serious enterprises with a clear future or realistic success chance. Compared to projects with whitepapers, roadmaps, and skilled teams, memecoins are created in an eye blink or faster.

I think its a trend that will slip away quickly. What grows it? Unexcited people may exist. A new toy is their desire. That may be all it is.

[Mehedi72]

There may have various reason behind incident. Bear run is continue in crypto market since 2021 but i saw most of project dumped, and dumped more in 2022. Maybe seeing token sale failure due to dump market or seeing full of greedy people, project team decided to bring  memecoin as well as useless coin. Thus they don't need to invest much to create a meme token, Don't need to arrange a programme or Don't need to have a speech about their project among people in counties. No need to think about whitepaper or no hassle. See, how easy it is to launch  memecoin? But legit project also came like bounty combo listed on binance!

[wxa7115]

There may have various reason behind incident. Bear run is continue in crypto market since 2021 but i saw most of project dumped, and dumped more in 2022. Maybe seeing token sale failure due to dump market or seeing full of greedy people, project team decided to bring  memecoin as well as useless coin. Thus they don't need to invest much to create a meme token, Don't need to arrange a programme or Don't need to have a speech about their project among people in counties. No need to think about whitepaper or no hassle. See, how easy it is to launch  memecoin? But legit project also came like bounty combo listed on binance!

Meme coins are probably the laziest projects a developer can create as they do not even need any technical expertise to do it, they can just copy the source code of one of the hundreds of meme coins which have been created, change the name of the coin, its logo and they have their meme coin already.

The difficult part is to try to get that community to support that coin, however even if not many people do as long as they can get some people to buy their coin that is more than enough to make some money out of them, abandon that coin and then create another hoping to strike rich this time around.

[GreatArkansas]

(....)
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Memecoins will continue especially bull run is near, look at the hype will come again just like what most memecoins did in the past, but be aware that you should exit early as possible.
Memecoins are risky, and new altcoins too. Meme coins are much more risky especially since they don't have any real use case.
So if ever you will find an altcoin, find altcoin that there is already a product and they are already solving real problems.

[raidarksword]

It means bull market is nearly coming back that's why memecoins are left and right and it created a great hype towards the crypto market and of course it is a positive for the market. But always remember that memecoins are not for long, it is a hype coin that degens short term goal to make money quickly. As always go to solid projects for a long term run.

[wallet4bitcoin]

Irrespective of the wave of memecoins in the space, I still hold legit altcoins projects in high regards. You see loads of memecoins being launched but go closer and see how many are actually rugs, honeypot and farm, if you properly analyse it, you'll stick with legit altcoins projects.

[welshhana]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Memecoins are just a trend that will pass in a few seasons, that's why it doesn't have a strong background. So, I simply don't dive into it but make profit when it's possible

[lienfaye]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Many investors are investing in meme coins to get rich quick, so due to the demand, it's not surprising why meme coins are increasing. They're all similar, the price can skyrocket depending on its hype and the people buying the particular memecoin.

Moreover, some investors are still never learned from their past mistakes. They tend to join the ride whatever the trend is hence even investing in meme is risky, they just ignore it hoping meme is the answer for them to have a huge profit even for a short period. Thus don't be surprise for the current happening, every opportunity to profit the devs and investors will take advantage it.

As mush as we do not like the developers behind those coins, if there was not a huge demand for meme coins now then they will not bother on creating more of them at all, even scammers value their time and if they thought that creating a meme coin was a waste of time then they will not do so.

However as we can see they are flooding the market with useless coins and they keep doing it as the demand for those coins remains high, despite the lack of fundamentals of those coins and the significant losses they cause to the majority of those which choose to invest in them.

Certainly they will not waste their time creating such coins to gain nothing. It is profitable for the dev since many investors (especially newbies) prefer to invest in meme rather than to wait longer if they invest in established coins. What matter to them is to profit as fast as possible while ignoring the risk of losing their money.

Whatever the trend, expect the flood projects joining the ride (and in this case meme coins) so brace yourself because it's not going to end soon. One of the reason why we need to be careful when we invest since not all projects are worthy to invest in.

[LogitechMouse]

~
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Maybe it's because they see that meme coins are the easiest way to earn profit?

I mean I don't know the exact reason as well because I don't invest into meme coins anymore, so I guess its' the profits that cause these investors invest into it, and since investors wanted to invest into projects that can give them huge profits in a short amount of time, developers are taking this opportunity, creating a meme coin even though it doesn't have any use case at all, launching it to the public, and hoping that their memecoin/sh*tcoin project become successful like PEPE.

With the hype of meme coins slowly going down, I will not be surprised if there will be few, and few meme coin projects that will be launched until the end of the year. Overall, ever since it's been  hyped a few years ago, I already said to myself that I will never, ever invest into meme coins with the exception of DOGE. To those newbie investors, just beware because these scammers are taking it as an opportunity to scam you. Don't be an ignorant investor, and learn to research first before investing.

[bettercrypto]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I personally think it's because the era of meme coins hasn't really arrived yet. So if we look back in 2017, ico projects became trending because many people made big profits from ico's, followed by IEO, IDO, then play to earn games using cryptocurrency also trended.

After this, NFT followed, then AI trended this year, and recently it was the Pepe coin, so probably when the bull run comes, it is possible that the time for meme coins will come.

[fzkto]

(....)
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

Memecoins will continue especially bull run is near, look at the hype will come again just like what most memecoins did in the past, but be aware that you should exit early as possible.
Memecoins are risky, and new altcoins too. Meme coins are much more risky especially since they don't have any real use case.
So if ever you will find an altcoin, find altcoin that there is already a product and they are already solving real problems.

If we consider meme coins globally, it is just a type of altcoin. Altcoins are risky investments anyway, so meme coins also have a high risk. But I would not say that only meme coins have no practical usage. In fact almost all altcoins don't have that. Most coins are created just for profit. There are thousands of different coins now and only a few have value. Even ripple in my opinion has no use.

[abel1337]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I personally think it's because the era of meme coins hasn't really arrived yet. So if we look back in 2017, ico projects became trending because many people made big profits from ico's, followed by IEO, IDO, then play to earn games using cryptocurrency also trended.

After this, NFT followed, then AI trended this year, and recently it was the Pepe coin, so probably when the bull run comes, it is possible that the time for meme coins will come.

I don't think so. We've seen several hype trend on meme coins before and I don't think that the effectiveness will be the same as the past upward price. I think that there will be a new trend upcomming that will rise in the next bull market. I'm trying to get a gist of the possible trend, I'm thinking about the airdrop projects now as they have a solid community right now but yeah we can't tell the future.

[lepbagong]

Irrespective of the wave of memecoins in the space, I still hold legit altcoins projects in high regards. You see loads of memecoins being launched but go closer and see how many are actually rugs, honeypot and farm, if you properly analyse it, you'll stick with legit altcoins projects.

Many really want to speculate and hope that there will be surprises from the meme coin invested, although sometimes they are not sure that it will give something that is really expected. Of the many new coins that are present, it can be said that only a few meme coins are still able to survive; this indicates that it is too risky to hold meme coins. But it all depends on what he wants to do because he has the funds but misplaces them. I think what you said is very true. Do the analysis correctly and make sure you don't think about holding meme coins because there are still many other alternatives.

[danherbias07]

Because it's easier.
Also, add the fuel given by the pump of Dogecoin and Shiba Inu. Even without an item or project that backs it up, investors are still buying it which I think is stupid.
But now, even if you debate with them, they won't listen, their minds are closed and they say it will pump later in the future. I disagree. These meme coins are manipulated by those with money and they can easily dump it all whenever they feel so.
That's the disadvantage of retail buyers. They don't know when it will be dumped and all they can do is be lucky enough to sell when there's a buying spree. Unlike other coins which can only effect a little when a whale sells because of the higher amount of retail buyers than them.

[wxa7115]

If we consider meme coins globally, it is just a type of altcoin. Altcoins are risky investments anyway, so meme coins also have a high risk. But I would not say that only meme coins have no practical usage. In fact almost all altcoins don't have that. Most coins are created just for profit. There are thousands of different coins now and only a few have value. Even ripple in my opinion has no use.

True, however together with NFTs meme coins are the only coins which can openly claim to be completely useless and still attract millions of dollars on investment, the rest of the shitcoins we see on this market at least have to make it seem as if they could serve some kind of function to get access to that money.

It is because of this meme coins are becoming more and more widespread as scammers need even less time to release that kind of coin as they do not need to create a white paper with incredible claims or anything like that, they can simply copy another meme coin, change its image, promise that a lot of money will be made by those that invest in it and then earn a fortune.

[aseprebel]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

  Many memecoins have active and engaged communities on social media platforms and forums. These communities can generate a sense of camaraderie and shared identity among holders of the coin, which can lead to increased interest and investment.

[Godday]

Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
 It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?

I thought since it's full of meme coins it would be a boon for legit altcoins. Because if there are too many meme coin projects, of course it will diversify and I'm sure there will be many failed meme coin projects later which will cause people's trust in legit altcoins to increase.