Memecoins Vs legit Altcoins in 2023

[avp2306]

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.

It maybe increase the interest of investment since many will get attracted to the profit showed by other investors who came first while meme coin hype is starting up but once all is nearly done for sure many will cry about their financial loss on this type of investment since we all know that scamming will be the end point on all of this.

So better be careful on dealing with meme coins and only decide to hold those legit since they are more trusted or even more tested by many traders.

[justdimin]

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.

I do believe that if you spend enough time on researching coins, you will realize that memecoins are not there to make you profit, because that was never their intention and should not be considered a good thing at all. This is why you should be investing into altcoins.

However, there is an important distinction on this as well. We need to remember that this isn't going to be that easy, and we need to make sure that we are doing a good job of it as well. If we end up with a deal that doesn't really benefit us that much, like some shitty altcoin, then we will be making a mistake as well. So if you really want to make a profit, you should know what you are getting into and pick something that will profit you a lot more.

[Rabata]

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?

There are several reasons for investors to invest in Memecoins. One of the reason is that meme coins have skyrocketing returns on small investments. That is, an investor can often dream of winning $10,000 or more with a small investment of $10. And this dream is not possible in the short term in any project other than Memecoins. We recently looked at some of the meme coins that exchange huge amounts of money every day. A while back we saw how bullish Pepe Coin. As the lure of investing in these coins works among investors, some scammers also take advantage of that opportunity to pursue their interests. Investors must be careful in investing otherwise they are more likely to lose.

[Japinat]

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.

That is expected because what can do they other than that anyway? As a memecoin, you surely don't want the same approach as a legitimate altcoins because it doesn't have any utility compared to the outstanding altcoins that has been on the top boards in the last couple of years. What you want is to copy these successful memecoins and have the same approach so that it can look that it does have purpose even if they don't have any.

Anyway, memecoins are riskier than these known altcoins and yet people/investors are still clinging on it with the hopes that they can ride the wave someday and generate big profits in just a short amount of time. I mean, who wouldn't want that? But it's sure is risky because nobody even these so-called experts can predict its movements.

[Yamifoud]

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?

There are several reasons for investors to invest in Memecoins. One of the reason is that meme coins have skyrocketing returns on small investments. That is, an investor can often dream of winning $10,000 or more with a small investment of $10. And this dream is not possible in the short term in any project other than Memecoins. We recently looked at some of the meme coins that exchange huge amounts of money every day. A while back we saw how bullish Pepe Coin. As the lure of investing in these coins works among investors, some scammers also take advantage of that opportunity to pursue their interests. Investors must be careful in investing otherwise they are more likely to lose.

We can say - there is easy money out of these meme coins which gains more interest for most especially for those who believe about instant rich. Yes, we can't deny that there are a lot of people had made it good and earned more compared to investing in Bitcoin and altcoins, indeed meme coins beat them. But if we talk about the long-term, these meme coins are out of that competition, they'll just go after hypes and their popularity will be over.

Well, if we are really smart, we can take meme coins as an option but if we are focused on investing long-term, legit/potential coins offers something different and of course, at least have some assurance that it will never die.

[Beparanf]

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?

There are several reasons for investors to invest in Memecoins. One of the reason is that meme coins have skyrocketing returns on small investments. That is, an investor can often dream of winning $10,000 or more with a small investment of $10. And this dream is not possible in the short term in any project other than Memecoins. We recently looked at some of the meme coins that exchange huge amounts of money every day. A while back we saw how bullish Pepe Coin. As the lure of investing in these coins works among investors, some scammers also take advantage of that opportunity to pursue their interests. Investors must be careful in investing otherwise they are more likely to lose.

The only catch on investing on Meme coin despite the attractive potential return that you mention is there’s a bunch of meme coin exists and most of them turn into scam. You will lose many times before you can find a meme coins that will give you profit, worst is you will never find the perfect meme coin before you lose all your investment on this typemof coin.

There’s still a lot pf altcoin projects that prints huge gain too especially on blockchain and defi projects when there’s still few of them available in the market.

[Xal0lex]

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.

Retailers in any coin don't know exactly when the dump will happen, but does that put memcoins on par with the rest of the projects? The whole point is that memcoins can drop indefinitely because they have no utilitarian value. If a project has some utility, it will attract liquidity to the cryptocurrency and the coin will recover and continue to grow. Memcoins in 99% of cases have a irreversible cycle, once they collapse, they will never return to the price peaks they had before. It is easier to launch a new project than to try to maintain an old one.

[lixer]

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.

What you are expecting to happen in the future is actually happening right now, there are thousands of meme coins that are launched by god knows who because no one really checks who is the developer of a certain meme coin nor do the creators come in front saying that they are behind those meme coins knowing it can cause trouble if people make investments and lose their money and if they know who is behind that project, the creator can get in real trouble.

However, those who invest in these meme and shit coins are generally not disciplined and sincere crypto traders or investors, because a sincere and wise person wouldn't waste their money on a project where they know they can't get much unless it magically gains a lot of hype in the community.

[o48o]

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 don't consider this unusual. There has always been a flow of memetokens, and since they are easy to make, there will be as many of them as you care to count.

Your feeds might be just be filled by them right now. As every time there's a succesfull coin or a token, there will be ton of copycats after it, trying to ride that wave as they can say that we are the new pepe or what ever. This is not just with memecoins. There used to be a country coins citycoins named after cities, politician coins named after politicians, just becuse it was hot.

Before Dash was called dash, it was called darkcoin, and after that mooned everyone wanted dark in their name, or a shadow or similar. It's just a trend. It will blow over, and then it will rise again after some other memetoken rises.

There are still ton of projects that have white papers and that are least pretending to solve real issues. Those are just now not as trendy so you have to look for them.

[kawetsriyanto]

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?

Since few years ago, we already saw many meme coins projects. You shouldn't be so surprised because there are many meme coins launched every year. Why there are many meme coins? You already know the answers, it is because they are easy to create and launch. Meme coins don't need WP, products, roadmap, or other fundamental factors. So, we can understand if it is easy to multiply meme coins projects. However, there are still some real projects that have good fundamentals. If you don't like meme coins projects, you only need to ignore them!

[Newwifi]

Meme coin has no future.  Meme coin does not have a blockchain.  There is no difference between total supply and circular supply.  I would like to give an example that in 2022 I invested 2500 dollars in Goma shiba Inu.  But by 2023, that has become 0.  So what I think is that memo coin cannot be bought.  Current status of memo coin.  TOTAL SUPPLY
 1,000,000,000,000,000
 GOMA
 HOLDERS
 46,371
 Market
 FULLY DILUTED MARKET CAP
 $0.00
 CIRCULATING SUPPLY MARKET CAP

[Xal0lex]

Meme coin does not have a blockchain.

For now, yes, but that will change in the future, as Shiba Inu has been preparing its L2 blockchain for a long time, called Shibarium. Even though this will be the first memcoin to have its own network, I don't believe that this is the reason why all memcoins are scams and useless investments. It's all about the very nature of memcoin being a short-term strategy. Of course, there are exceptions to the rule, such as DOGE, which has been on the market for 10 years, but all other memcoins are designed to be short-lived. Why would coins with short investment activity need their own blockchains. It is expensive and time-consuming.

[worle1bm]

When everyone are seeing quick money making paths through these memecoins why would they put efforts in making some projects that solve a problem providing utility to the users so no need to go that way.But this is temporary phase and only the creators will make money only not anyone investing money in them.

[dunfida]

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?

Since few years ago, we already saw many meme coins projects. You shouldn't be so surprised because there are many meme coins launched every year. Why there are many meme coins? You already know the answers, it is because they are easy to create and launch. Meme coins don't need WP, products, roadmap, or other fundamental factors. So, we can understand if it is easy to multiply meme coins projects. However, there are still some real projects that have good fundamentals. If you don't like meme coins projects, you only need to ignore them!

Depends on the certain trend, whether it would be those shit altcoins or would really be those shit meme coins. The cycle continuous as long there would be those investors who do keep on throwing their money with these

things then it would really be continuing to exist because fake devs would really be always have that insight and believe that crypto people do really have that interest on investing into these type of coins even if it doesnt really have that actual utility and this is something that really needs to be that be careful on investors point of view. If you do have some extra funds that you could play with then its your choice but it would be much worth if you are do just simply throw off those money and invest in Bitcoin or some top altcoins in the market which it would really be that worth rather than on spending and wasting your money on shit coins.

Trend could changed up basing up on the interest and the current hype in the market and people would just normally be diving in into those things which arent really that even sure or doesnt have
actual utility or simply being garbage.

[poodle63]

meme coin is honestly nowadays getting beaten up by legit altcoins in terms of short term return, currently the tides have changed and it seems many legit altcoins like optimism, arbitrum and many similar are just giving better profit in general than meme coins, so I guess the trend is fading in 2023

When everyone are seeing quick money making paths through these memecoins why would they put efforts in making some projects that solve a problem providing utility to the users so no need to go that way.But this is temporary phase and only the creators will make money only not anyone investing money in them.

as you've already said its quick money making which means its highly speculative, many that invested in these coins are actually knowing fully well that they are speculating though in regard of financial responsibility that is not mine to judge.
so I guess they already know that its quick money making which risks them of losing money which is fine for many that invested in these coins honestly. but one thing needs to know is that meme coin is highly manipulated, there are definitely some schemes there that could give benefits towards the early birds, and the question is how you can be the early birds? it might be through inside information, after all not all meme coins are having the flow of investment going in.

[Natalim]

maybe many developers are aware that many people are only concerned with chart movements without the need for clarity on the purpose of making these coins. people are just taking advantage of highly volatile price movements to make profits. In fact, coins that have become a scam and are still on the market are still one of the choices for people to buy and take advantage of price movements. So, I think a lot of random developers create meme coins to attract short term investors.

Perhaps, they already know about it and these developers see already their advantage as they have done the survey. But if they are good developers and want to help the crypto space grow, they will not do it and take advantage of the situation instead, they will create a project that would give benefits to the people/community as well, not a useless project. Unfortunately, these developers are too greedy and what is on their minds is the benefits of themselves, not for everyone. So being responsible investors, we also take our decisions and choose the right coins only.

[nurilham]

meme coin is honestly nowadays getting beaten up by legit altcoins in terms of short term return, currently the tides have changed and it seems many legit altcoins like optimism, arbitrum and many similar are just giving better profit in general than meme coins, so I guess the trend is fading in 2023

Not sure if the trend of meme coins is over, but people must understand enough if meme coins riskier. We already experienced more than 2 years with meme coins, it won't be easy to attract people with the hype anymore. Previously, I guessed the tokens of AI projects will be trending this year. But I think it is not really trending as expected. Regarding Arbitrum, it becomes popular because many people can earn money from its airdrops and invest in this project early. However, I'm not really sure that Arbitrum will be popular for a long time.

one thing needs to know is that meme coin is highly manipulated, there are definitely some schemes there that could give benefits towards the early birds, and the question is how you can be the early birds?

It is difficult to be the early birds and exit with profits at the right time. Since most meme coins are manipulated, the developers can disappear at any time. Only experienced people who knows the tricks to be the early birds. It is absolutely not recommended for beginners or average investors.

[FahriZah]

Hello guys i think It's not good to never compared to meme coins to altcoins because meme coin is high risky coin and high profitable coin when moving but altcoins is very thankful coin from my side and It's totally my personal opinion keep remember always altcoins better.

[darewaller]

Meme coin does not have a blockchain.

For now, yes, but that will change in the future, as Shiba Inu has been preparing its L2 blockchain for a long time, called Shibarium. Even though this will be the first memcoin to have its own network, I don't believe that this is the reason why all memcoins are scams and useless investments. It's all about the very nature of memcoin being a short-term strategy. Of course, there are exceptions to the rule, such as DOGE, which has been on the market for 10 years, but all other memcoins are designed to be short-lived. Why would coins with short investment activity need their own blockchains. It is expensive and time-consuming.

That will not really change anything for me, even if shiba had its own chain one day, that doesn't mean that it will be a legit project for me. They could be a token they could be a coin, they could be anything they want and the result will be the same for me in the end, they are just useless and should not be considered as a possible profit maker.

I think it is quite important to realize that if we can't make a profit right now, then it is not going to end up very well for us in the end neither, and thinking shiba will be the one that profits us, is a wrong thinking. It is just a meme, it is just fun, it is not a serious investment and it is only looking to make profit based on hype and nothing more, hell Elon is the only reason it even exists.

[Xal0lex]

Meme coin does not have a blockchain.

For now, yes, but that will change in the future, as Shiba Inu has been preparing its L2 blockchain for a long time, called Shibarium. Even though this will be the first memcoin to have its own network, I don't believe that this is the reason why all memcoins are scams and useless investments. It's all about the very nature of memcoin being a short-term strategy. Of course, there are exceptions to the rule, such as DOGE, which has been on the market for 10 years, but all other memcoins are designed to be short-lived. Why would coins with short investment activity need their own blockchains. It is expensive and time-consuming.

That will not really change anything for me, even if shiba had its own chain one day, that doesn't mean that it will be a legit project for me. They could be a token they could be a coin, they could be anything they want and the result will be the same for me in the end, they are just useless and should not be considered as a possible profit maker.

I think it is quite important to realize that if we can't make a profit right now, then it is not going to end up very well for us in the end neither, and thinking shiba will be the one that profits us, is a wrong thinking. It is just a meme, it is just fun, it is not a serious investment and it is only looking to make profit based on hype and nothing more, hell Elon is the only reason it even exists.

Memcoins have never been seen as a source of profit. You don't see going to a casino as a way to make money. Rather, such investments can be considered as gambling, a game of roulette, where you can count on luck and a good addition to your deposit. You should not seriously consider memcoins as an investment asset in the long term. These are just ordinary shitcoins, which depend entirely on the hype.