Memecoins Vs legit Altcoins in 2023

[savetheFORUM]

Ever since Elon Musk promoted dogecoin, I have seen the unusual hype of memecoin, gaining popularity and new meme projects. But these projects are only shiny from the outside but hollow inside. They exist today but not tomorrow. But investing in legit altcoins is much safer than memecoin.

yes, people are making quite a fortune from memecoin, and people are also enthusiastic about short investing, so it's likely that many developers are racing to make meme coins to profit from the meme coins hype. While we know that investing in popular altcoins is much safer, people are willing to take risks with meme coins, even with enough cash to make a quick profit.

The reason that some people invest a lot of money in meme coins is that some of these meme coins have provided significant profits to some people in the past which makes everyone think that they might become one of those people and become millionaires and if not millionaires, they might earn at least a few hundred thousand dollars in profits, even a few thousand will do for most of the investors as they will have a few hundred invested in these coins.

However, people don't understand that they lose a lot of money on these meme coins even if they are investing small amounts in each one of them because out of thousands of meme coins, only a few manage to get substantial hype among investors and then manage to get some success and most of them will fail.

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[Ojima-ojo]

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?

Some time I can't stop but to ask the question.

Is meme coins actually an investment or a Ponzi scheme,  because there is no difference between memecoins and Ponzi schemes,  so I will say that I never consider meme coins as good investment rather than just gambling with your money.


And the worst thing is that when those meme coins get pumped and dumped,  it becomes almost impossible for them to rise again unless the few that make attempts to constantly pump their market from time to time and this is not even a guarantee you have the coin pumped to the initial price.


So I prefer to hold well known coin like Bitcoin Ethereum and the other well known coins that already have a track record of market success.

[yohananaomi]

Ever since Elon Musk promoted dogecoin, I have seen the unusual hype of memecoin, gaining popularity and new meme projects. But these projects are only shiny from the outside but hollow inside. They exist today but not tomorrow. But investing in legit altcoins is much safer than memecoin.

There are many coin memes who want to succeed just like Doge, so it's no wonder they try their luck too by making coin memes. But as you said, meme coin growth looks good, but no one can be expected to be profitable; more is fast growing and fast disappearing too. Don't sacrifice your funds for something as hard to hope for as meme coins; it's wiser to place them on potential and widely available altcoins.

[o48o]

Meme coin has no future.  Meme coin does not have a blockchain.

Blockchain isn't something that automatically makes something better. Before eth, all we had was pointless clone memecoins with different blockchains. In fact tokens on established blockchains are way more secure and resilent against any sort of attact.

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 There is no difference between total supply and circular supply.
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You can't just use random memetoken as an evidence. There literally is a difference. That's why marketcap and fully diluted marketcap are seperated in cmc. It's more about issuance rate to circulating supply that is worth looking closer.

[sarmrakib]

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?

Investing on memecoin is like you are doing gambling .You can loose all of your money or you could be a rich person within short term.We all know that most of the memecoin will be scammed nevertheless we are investing for our greediness That's why scammer take the chance of our greediness and out with the money .We need to invest on legit project which hast strong use case that's could be the right idea to put our money in .However it is always risky to invest on new project though it is legit and also more risky to go with memecoin .I always ignore memecoin project and try to invest on strong legit ptoject .

[JahriMeayer]

I always avoid memecoins cause Those kind of coin has weak basement and community. Those can easily manipulate and make those fall down or raise up anytime. Nowadays meme sector is growing cause of people demand! People always want to be Millionaire within a day, by the bless of memecoin! And so many people already enter Millionaire club too by investing memecoin. Recently pepe created buzz and people now investing on memecoin. So scammers launching memecoin more than others altcoins as they don't need to white paper or roadmap. This is easiest way to scam

[bittick]

I always avoid memecoins cause Those kind of coin has weak basement and community. Those can easily manipulate and make those fall down or raise up anytime. Nowadays meme sector is growing cause of people demand! People always want to be Millionaire within a day, by the bless of memecoin! And so many people already enter Millionaire club too by investing memecoin. Recently pepe created buzz and people now investing on memecoin. So scammers launching memecoin more than others altcoins as they don't need to white paper or roadmap. This is easiest way to scam

thats greed when people want to flip their money into million of dollars they don't have the logic to think whether they truly gonna make it instead of losing their money.
because see the promises offered by these scam coins as well as seeing those early birds in meme coin that flip their thousand dollar into million they thought they are lucky ones that gonna repeats the same history.

[AakZaki]

Seeing how memecoin will develop in 2023, it will grow very rapidly. There are many memecoins that were launched and ultimately ended up being scams and most of them were abandoned by their developers. they are only created for price speculation and to enrich the developer. Those who enter early will certainly get several benefits. If you have to say the newest memecoins and altcoins in 2023 are almost the same, you just need to choose which one has good development because every project is different, there are altcoins that are really good and can develop now with good potential in the future.

[bayu7adi]

I strongly dislike the concept of "meme coins" even though some people have made substantial profits from them. However, this isn't the core essence of investing. It's evident that the level of seriousness among new altcoin developers is on the decline, as evidenced by the emergence of coins capitalizing on hype to generate significant profits in a short period. They come and go quite easily.

Indeed, the adage "high risk, high return" holds true, but focusing on the top 10 coins is preferable to spending time on something highly risky and challenging to analyze. I still rely on fundamental analysis to make sound decisions.

[koang]

I strongly dislike the concept of "meme coins" even though some people have made substantial profits from them. However, this isn't the core essence of investing. It's evident that the level of seriousness among new altcoin developers is on the decline, as evidenced by the emergence of coins capitalizing on hype to generate significant profits in a short period. They come and go quite easily.

Indeed, the adage "high risk, high return" holds true, but focusing on the top 10 coins is preferable to spending time on something highly risky and challenging to analyze. I still rely on fundamental analysis to make sound decisions.

Yep. The concept of memecoin is just for fun, not for investment.
Unfortunately, many people take memecoin too seriously and dare to invest large amounts of money.
And when we talk about money, the greed factor will become dominant, and greed will make many people rekt.

Everyone has their strategy for investing their money.
Your Money, Your rules, and your risk

[justdimin]

I strongly dislike the concept of "meme coins" even though some people have made substantial profits from them. However, this isn't the core essence of investing. It's evident that the level of seriousness among new altcoin developers is on the decline, as evidenced by the emergence of coins capitalizing on hype to generate significant profits in a short period. They come and go quite easily.

Indeed, the adage "high risk, high return" holds true, but focusing on the top 10 coins is preferable to spending time on something highly risky and challenging to analyze. I still rely on fundamental analysis to make sound decisions.

Yep. The concept of memecoin is just for fun, not for investment.
Unfortunately, many people take memecoin too seriously and dare to invest large amounts of money.
And when we talk about money, the greed factor will become dominant, and greed will make many people rekt.

Everyone has their strategy for investing their money.
Your Money, Your rules, and your risk

Wish more people knew about that, as we can see the situation we are handling right now is that people think memecoins are good things to invest into and we all know that they are not, and we should be avoiding them.

If you want to have fun and do something that you will get some joy out of, that might be something you can take a look into and because it will be something simple you will probably have some fun, but that doesn't mean that you are not going to end up with something good with it, you are just going to end up with some wild moves. You should end up with something much better on the long term and because that is going to be tough to handle we are going to end up with something that should not be all that easy.

[purinZ14]

Think about memecoins as memes in social media. If one goes viral, everyone will see it and start to use it. Same as memecoins, lots of investors (new or not) will go and follow the hype without any real assurance that that memecoin will do well later on. I’d also say there’s more and more people knowing about cryptocurrency especially with the development of NFTs.

[mdzahed134]

Don’t compare with MEME coins and promising/legit projects, meme seems gamble, it’s high risk with high profits, but there are no guarantee. People’s rush to invest to gain 50x-100x in short terms when a new meme coin is going hype in the market. I also tried in the few projects with small amount, yeah i got decent profits from only a project. But i would like to recommend legit project for the long term.

[lienfaye]

I strongly dislike the concept of "meme coins" even though some people have made substantial profits from them. However, this isn't the core essence of investing. It's evident that the level of seriousness among new altcoin developers is on the decline, as evidenced by the emergence of coins capitalizing on hype to generate significant profits in a short period. They come and go quite easily.

Indeed, the adage "high risk, high return" holds true, but focusing on the top 10 coins is preferable to spending time on something highly risky and challenging to analyze. I still rely on fundamental analysis to make sound decisions.

What makes the investors chose the meme coins despite of being high risk investment? It's because of the potential profit in a short period. If you're an early investor (meaning the meme coin that you invest in didn't reach its peak yet) chances to gain from it is possible. However this is, if the particular meme coin became popular and indemand for investors who are looking for quick profit. As we know many investors are still looking for a quick profit rather than to wait longer even the coins are promising (the established coins) with real use case.

Therefore, meme coins (and other new trend) will continue to exist because of investors who are buying it. The dev will continue to create such project because since it's profitable on their side.

[bluebit25]

Don’t compare with MEME coins and promising/legit projects, meme seems gamble, it’s high risk with high profits, but there are no guarantee. People’s rush to invest to gain 50x-100x in short terms when a new meme coin is going hype in the market. I also tried in the few projects with small amount, yeah i got decent profits from only a project. But i would like to recommend legit project for the long term.

It's simply an unfair statement, where the speakers only talk about a small percentage of successful meme projects that bring in big profits, but they also talk about the risks of losing thousands of times, and the story for legal projects, the same situation also occurs. The matter of time as people perceive it, I think that no matter what, they have their own operating rules and those who understand it always have an advantage over us.

[Dr.Osh]

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?

well, we know that projects that really develop their products, and want to survive for a long time must have all the information investors need to invest in the projects they create. That's why quite a lot of things are needed, such as white papers and other calculations. I think that it is not easy to create a project to attract investors, especially now. However, on the other hand, there are many people who dare to take the risk of choosing meme coins to short. This may make them profit, however, meme coins are not created for a very long period of time, and are also very vulnerable to being a scam. maybe the risk is 2 or 3 times greater than investing in legit altcoins. That's why they choose to utilize meme coins in the short term. Because people tend to take advantage of this, there are more new meme coins appearing nowadays than new legit altcoins.

[fzkto]

Don’t compare with MEME coins and promising/legit projects, meme seems gamble, it’s high risk with high profits, but there are no guarantee. People’s rush to invest to gain 50x-100x in short terms when a new meme coin is going hype in the market. I also tried in the few projects with small amount, yeah i got decent profits from only a project. But i would like to recommend legit project for the long term.

It is probably right to invest at the right time, then you don't have to wait for a long period of time. For example, if you invested in LTC a few years ago, you would have to wait a long time to at least get your investment back. But if you invested in 2020, you would have made a good profit within a year. I guess it's easier with good projects than meme. The meme is just a casino.

[fapar]

What makes the investors chose the meme coins despite of being high risk investment? It's because of the potential profit in a short period. If you're an early investor (meaning the meme coin that you invest in didn't reach its peak yet) chances to gain from it is possible. However this is, if the particular meme coin became popular and indemand for investors who are looking for quick profit. As we know many investors are still looking for a quick profit rather than to wait longer even the coins are promising (the established coins) with real use case.

Therefore, meme coins (and other new trend) will continue to exist because of investors who are buying it. The dev will continue to create such project because since it's profitable on their side.

To the above we can add the rather low cost of meme coins/tokens in relation to “classic” altcoins. A very clear example of dishonest behavior by a meme coin developer is the example of PEPE. There is an opinion that the PEPE developer artificially influences the coin rate by buying or selling large volumes of tokens through dummies. Just yesterday, one of the users purchased PEPE in the amount of 390 ETH and several other users bought over a trillion PEPE.

[yazher]

To the above we can add the rather low cost of meme coins/tokens in relation to “classic” altcoins. A very clear example of dishonest behavior by a meme coin developer is the example of PEPE. There is an opinion that the PEPE developer artificially influences the coin rate by buying or selling large volumes of tokens through dummies. Just yesterday, one of the users purchased PEPE in the amount of 390 ETH and several other users bought over a trillion PEPE.

It's because there are no sane people who will buy such coins because they really have no value to the world, in have no contribution to anything just a mere meme coin. that's why they are the one who needs to move and make a quick plan in order to fool their investors. the only people you see buying such coins are risk takers who know when to quickly sell back their coins when something goes wrong, that's why when you are a newbie, you better buy such high-risk coins in order to save your capital.

[Cryptoababe]

Most memexoins are just ponzi that will die one day. Although, not all. I do buy some to make profit and take them. And at times, I buy on exchange I use which is Bitget because they hardly list rug pull coins. So with that, I feel safe a bit.