Does any meme coin has the ability to challenge bitcoin dominance ?

[Raflesia]

Yes, pepe and shiba are giving me quite a profit compared to the initial capital but in my opinion. We should still only invest small amounts of capital and limit investing too much in them, we should not be too greedy or blind when we see immediate profits and sell bitcoin to all in memecoins.
I still maintain the opinion that although memecoins have the potential to bring huge profits, but risks can strike at any time, so you should still only spend 1-3% of your capital on them, the rest let's focus again on bitcoin and altcoins that you see have potential. But don't forget to get rid of all the memes and altcoins when the bear market come because then only bitcoin is the most reliable and safe currency.

Because in the end for meme coins like Pepe or Shiba it's not even really worth it to be used as a long-term investment because it's just momentum utilization and even leads to gambling for me.

Indeed, in this case there will certainly be some who deny the existence of analytical techniques or whatever, but in the end we realize that when talking about memecoins like this we are just waiting and hoping that the pump will come soon so that the capital we give in the meme coin runs well and gets profit.

Back to whether they can be juxtaposed with bitcoin and can rival bitcoin, it is clear that the answer is definitely no and that cannot be refuted.

[skarais]

~~~

Because in the end for meme coins like Pepe or Shiba it's not even really worth it to be used as a long-term investment because it's just momentum utilization and even leads to gambling for me.

Indeed, in this case there will certainly be some who deny the existence of analytical techniques or whatever, but in the end we realize that when talking about memecoins like this we are just waiting and hoping that the pump will come soon so that the capital we give in the meme coin runs well and gets profit.

Back to whether they can be juxtaposed with bitcoin and can rival bitcoin, it is clear that the answer is definitely no and that cannot be refuted.

Bitcoin will still dominate the crypto market and no altcoin will really be able to break that dominance anytime soon. Bitcoin has advantages that allow it to continue to dominate the market in the long term, but it may not be a guaranteed thing forever without any hope for altcoins to break that dominance. There are all risks, including the success of altcoins breaking Bitcoin's dominance in the market, but this may never happen in the near future until something bad happens to bitcoin.

Did I expect it? Of course not, but that is a risk which in the end should make us think logically so as not to put all our eggs in one basket. Risks are still risks and should not be ignored and underestimated.

[TheVeteranAngel]

What utility do meme coins offer?

For a project to challenge and usurp, it would need to offer more utilities than Bitcoin does or improve on the aspect of decentralization, security and immutability.

Meme coins like many other altcoins are purely for speculation, causing the changes in price.

BTC mcap takes almost 57% of the entire crypto market so the whole altcoins and memcoin combined can't even challenge BTC talk more of a single memecoin. DOGE with the highest mcap among all the memecoin has a mcap of less than $21M. So i don't see any reason for comparison.

[Cookdata]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

The first question you need to ask is has Doge which is regarded as the king of memes surpassed Bitcoin? Since they are the first to start the rally and trend of memes, I think the other meme coins like Pepe, Bonk, Floki and many shit coins need to flip doge which is right now $23B by market cap and Bitcoin which is around $1.3T, the extra billions on Bitcoin are far many times bigger than the market cap of Doge, now do the maths and see if this is possible or you are just doing normal impossible assumptions.

The investors knows what they are doing, if you think any memes coin is going to ever replace Bitcoin by dominance, then you need to quick check history of Ethereum and how it was been push to replace Bitcoin but as they got tired of the hype, they stop because Bitcoin is Bitcoin and altcoins are altcoins.

[bayu7adi]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

Looking at how you treat cryptocurrency, it seems like it's only focused on profit and ROI. It's only natural that you consider the % increase in memes, because up to now the Bitcoin vs altcoin bullish moment has clearly favored altcoins. But how I look between Bitcoin vs Meme coin, I still suit Bitcoin in terms of the investment style I do and also my subjective reasons.

Bitcoin is a pioneer and I respect its existence as a trigger for the birth of other coins. So life feels less than perfect if you have cryptocurrency but don't have Bitcoin.

Additionally, with regards to ROI, I prefer investments with a safer model as a long-term store of value. There is no need to panic because Bitcoin is truly the most stable thing at the moment.

[dzungmobile]

Looking at how you treat cryptocurrency, it seems like it's only focused on profit and ROI. It's only natural that you consider the % increase in memes, because up to now the Bitcoin vs altcoin bullish moment has clearly favored altcoins. But how I look between Bitcoin vs Meme coin, I still suit Bitcoin in terms of the investment style I do and also my subjective reasons.

Bitcoin has gone through three bear markets and dominated the market. In bull run, a lot of noise from altcoins but they come and go, born and die, only Bitcoin stay here since 2009.

Additionally, with regards to ROI, I prefer investments with a safer model as a long-term store of value. There is no need to panic because Bitcoin is truly the most stable thing at the moment.

Easy comes, easy goes. Quick rich, quick poor. People usually love to hear rosy profitable successful stories but they don't wan to hear painful lost stories or even they get exposed to those stories, they will ignore.

In investment, safety first as if you lose your capital, you are done.

[worldofcoins]

I don't think a meme coin has the potential to outperform Bitcoin because Bitcoin has established its name, and meme coins come and go on a daily basis.

It's hard to keep track of all the meme coins that are created each day, and the creator of the meme coin either takes a percentage of the total supply of the meme token or pumps it up after its launch. Otherwise, they wouldn't benefit by creating this meme coin, and that's not why they created that meme coin in the first place.

[Mate2237]

Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

I don't think any bitcoin users will move their bitcoin investment funds to invest in those coins you just mentioned. It is good to invest in Altcoins if you know that you will make profit from them but don't leave your bitcoin investment to another projects. Many people have made this mistake of using their bitcoin investment funds to invest in another coins because the time to make profit in bitcoin is very long. And they needed a project that can give them short period of investment and they ended up with regret.

Op your question is a rhetorical question because you personally that that no coin is close to bitcoin and you are still asking such question. Well it is a free world so you can ask but it was unnecessary. No project or altcoins will or can challenges bitcoin in anything.

[CageMabok]

BTC mcap takes almost 57% of the entire crypto market so the whole altcoins and memcoin combined can't even challenge BTC talk more of a single memecoin. DOGE with the highest mcap among all the memecoin has a mcap of less than $21M. So i don't see any reason for comparison.

There is no need to compare this, especially in the current conditions where Bitcoin generally still has many advantages. Meanwhile, memecoin only moves because the market moment is quite right for them, so the current conditions are really like the next bullrun for memecoin. Apart from that, the effect of continuously increasing the price of Bitcoin also has an indirect effect on all altcoins, which also includes memecoins. Because something like this also happened when Bitcoin created ATH in 2021.

[Synchronice]

No memecoin has the power to challenge Bitcoin dominance because memecoins bring no real value to the world. Memecoins are just coins with meme image attached as a logo and people buy it because many fool things are getting hyped and increasing in value, just like meaningless NFTs. Such a fool thing can't attract attention of financial institutes and big companies, like BlackRock, so, short answer is no, memecoins can't challange bitcoin.

It's been 13 years since the original Bitcoin whitepaper, and Bitcoin is slower and more expensive to transact than ever. If that's the way it's "evolving" then I don't see it branching out of it's current primary use as a speculation instrument.

Bitcoin is not evolving and that's very sad. For some reason, Bitcoin Core developers remain very conservative while the coin is actually very anti-conservative invention. I hope it will evolve or it's not going to be a dominant currency.

[karpethitam]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

no, and never will be. bitcoins are bitcoins. whether there are other cryptos or not, bitcoin is still bitcoin.

[Woodie]

I think the most hyped meme coin I have ever experienced was Dogecoin when Elon Musk talked alot about cryptocurrencies, but unfortunately it lacks the numbers and popularity for it to challenge Bitcoin, and when we talk about challenging BTC this also means being number 2 and also means displacing Ethereum which hasn't happened for the longest time... And as far as I know, people don't take meme coins as a serious investment as they lack the liquidity to push it up... perhaps before trying to challenge BTc let it fight it out with Shiba inu another meme coin... For now all Altcoins remain second best.

[Litzki1990]

Meme coins have created a lot of hype in the market right now. These coins are growing and this growth is not normal growth at all because when these coins grow they grow more than 200 times or 400 times. If these coins are in a good condition and if they increase 400 times or more after being in a good condition, then the value of these coins can go into a good condition. But comparing all these coins to Bitcoin would be wrong because all these coins will never go around Bitcoin. These coins grow suddenly and the amount of growth is unusual but they cannot maintain their value for a long time and many times there is a huge fall in the price which causes all these coins to disappear from the market. All these coins can be invested with a small amount of money so that there is a possibility of huge profit if the value of these coins increases a lot in the future.

[bettercrypto]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

What do you think meme coins have that bitcoin doesn't, besides most of them being shit and only a few becoming successful in the end? So where do we think the popularity of the meme coin came from? It's impossible that bitcoin's dominance is due to the meme coin; doesn't that sound silly?

It seems to me that meme coins should not be compared to Bitcoin because they are very far from each other in reality. If I look at meme coins, there is almost no difference from altcoins; although there are some who have made a big profit here, it is still different from bitcoin.

[legiteum]

What utility do meme coins offer?

For a project to challenge and usurp, it would need to offer more utilities than Bitcoin does or improve on the aspect of decentralization, security and immutability.

Meme coins like many other altcoins are purely for speculation, causing the changes in price.

Any product succeeds because it offers something the market wants. Most investors in Bitcoin today probably don't care about "decentralization" and many probably don't even know what that is (and unless they physically hold their private key, they aren't technically exposed to the idea). That goes double for "immutability".

As for security, that is a big deal for consumers, but since most people aren't security experts, they need to rely on institutions they trust, e.g. their broker or the media. There have been lots and lots of blockchain-based currencies that have been either technically poor or outright scams. This has surely hit that market hard, and for good reason. Any new product would need to take security (stability, transparency, etc.) head on.

As for utility, I personally think that no blockchain-based currency will ever have mainstream utility since the blockchain architecture makes it impossible to scale to mainstream loads that can handle the world's everyday transactions. There are some coins out there that are a "lot" faster than Bitcoin (and correspondingly less decentralized), but these still don't come within orders of magnitude of handling the tens of billions of transactions per day you would need to seriously take on credit cards and physical cash.

What if there was a popular platform that actually could scale to mainstream transaction loads and was 200x faster than today's credit card transactions? That sounds to me like an altcoin platform that could have something consumers really want and could create a new market for digital currency investing by introducing new consumers to something faster and simpler to use .

Seriously though, although unseating Bitcoin as the market cap leader is a tall order for any new product, and although there have been setbacks for challengers, this is the technology realm and new products do come along every once in a while that are successful. One should always keep an open mind.

[AnonBitCoiner]

Memecoins are not capable of challenging BTC dominance. Bigger and better coins haven't done that yet, questioning that is a bit hilarious.

Agree with your point that even Ethereum is incapable of challenging bitcoin so the Meme coins which did not show any successful past and their future is full of risk cannot become successful like Ethereum so challenging bitcoin for them is impossible.

I think meme coins are becoming worthy but not for whole life and will eventually become less valuable as the time goes. May be some people trust them a lot due to current success but people are also aware of their risk so don't invest too much in meme coins.

[lizarder]

It was not just the capitalization itself but the utility of the project which meme coins don't have, even other altcoins. Meme coins are an example of a crypto project that exists with no real purpose or commendation. It was just built to hype the crypto market, and it gained attention really, but also, these projects ruined the market as well as we know that a lot of people suffered losses from investing in them.

Indeed, it was noticeable for its current pump but as usual, they will dump afterwards. If we think this will challenge Bitcoin to dominate the market, then the developers must prove that their projects are worthy. Otherwise, people are right that these meme coins are worthless. 

The absence of a large market capitalization keeps altcoins from growing because people see no potential in such coins. Meme coins were a form of indirect influence on the crypto journey although in the end they had to be abandoned because there were no takers. Some people see the potential only in the short term after they make a profit, then they leave and don't reinvest. Usually that's how people use meme coins because in the long term such coins don't have good prospects and if we force them we will actually experience losses.

There is no chance for meme coins to dominate the bitcoin market because they do not have a stable fundamental level. Even if they get a pump it is only temporary and that is the same as I said because people only take advantage of the short term to make profits. Meme coins are more temporary and rarely do we find ones that can survive in the long term.