Craze for Meme coins never ends?

[jrrsparkles]

Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.

This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.

To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat

[batang_bitcoin]

DR; That can be a made-up story to get more attention to that meme coin. But I also know stories like that are the same in the past that are genuine. I have no guts unlike this guy to invest $1k in meme coins. He probably has this money as spare and willing to lose. Who's going to invest in unknown meme coins? Well, anyway this season is like whatever you buy seems goin' to make you money even with random meme coins. Still, I'd play safe and won't do this.

[wheelz1200]

Meme coin stories like this is like the lottery.  You will hear about these often but what you don't hear about is the loses.  Mlre often than not people lose money in these things.  Meme coins were a trend in 2020/21, you can bet it will fade at some point.  There is no purpose for these projects or tokens so it's all empty air driven by greed.  Be weary

[oktana]

Maybe it’ll eventually die, maybe it won’t. But I think people like it anyways. I’ll be honest though, I think that some people only deal with it because based on historical events with “Memecoins”, people have turned millionaires overnight. So they are trying their luck to know if their story will change too. Just like you mentioned, someone made 100x from a meme coin I’ve never even heard the name before. What do you think people will do? They’ll want to invest and be like not just the other guys, but like this guy too.

[OgNasty]

As long as there is somebody telling a story of how they got rich easily, there will be people willing to try it for themselves.  The entire meme coin industry seems built upon the back of the greater fool theory, so I've never jumped into that pool personally, but I do know quite a few people who got involved with crypto after wading into the pool with dogecoin.  Elon Musk seems to have generated quite a few crypto people with his involvement and promotion of dogecoin.  Hopefully we can see him promote Bitcoin by getting Tesla to start accepting it again soon.

[JeffBrad12]

only 1 out of thousands that invested gonna be turning their money into that massive amount after all meme coin is just a zero sum game, you expect other to lose as your exit liqudiity and definitely everyone can't get profit at the same time.
recently its BONK that have increased massively, you can say that meme coin never ends with its trend, every bullrun there appear some random meme coin that somehow increase in price so high everyone that randomly holds it get massive profit but thats it. also, altcoins that are not meme coin honestly are also doing the same thing, like ORDI it was valueless back then now it priced so high.
so basically its not just meme coin that can make you earn much more profit, every altcoin have the possibility and whether or not you gonna make profit depends on your action whether to accumulate, the only thing that you need to watch out for with meme coin is the possibility of it being manipulated.

[Bureau]

This is how investors fall into this trap by mainstream media, people will now read this article and think that meme coins can make their dream of financial independence come true. They will now start investing in meme coins not realizing that only a few can make such gains, after losing their investment they will go out and talk negatively about cryptocurrencies. It is a never-ending cycle of deceit and scammers are the first to utilize this opportunity. They would create fake smart contracts of the trending meme coin to which a few intellectuals would invest and lose their money.

[ryzaadit]

Not only meme, but the user (gambler is never end)

Most of user who are invested / trading, almost similiar like (gambler) just a degenerated people who are trying profit and getting greed. Especially people who are brave enough to put their money on (MEME).

They want gamble the money, and hoping some luck for profit.

[FinneysTrueVision]

Meme coins are perfect for pumping and dumping. They get lots of initial hype due to being named after popular trends and memes. They always have a massive circulating supply which makes them very cheap for speculators to acquire. It will be possible to make a good profit early on when they are really volatile but very few will have lasting power. The majority die off quickly but you will never see Coindesk write about the countless people who lose money investing in these risky tokens.

[jrrsparkles]

but you will never see Coindesk write about the countless people who lose money investing in these risky tokens.

They will do if someone pays for them to write their story cause more of the articles are sponsored contents so they are not going to give a damn unless it is beneficial for them.

About all other points you mentioned which are true, it is the perfect commodity for bump and dump and fortunately, if the coin has media attention then early investors are going to make a hell lot of money.

[wxa7115]

Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.

This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.

To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat

To answer your question, the interest in meme coins will never disappear and this is because that is just how people are, people will always have an interest in improving their current economic circumstances, to do so as fast as possible and to employ as little time and effort as they can.

And as you can probably guess investing in meme coins could in theory fulfill all of those conditions, so meme coins as much as some of us may dislike them will remain with us probably as long as this market exists.

[bluebit25]

Yep, this is not the first time, but we all understand the risk of participating in memecoin, someone can gain x100, and conversely someone can lose their money completely.

The way many people only like to talk about profits in an unbalanced way is part of the reason it can be easy to attract, because we can't avoid greed and are easily swayed by FOMO about things we like. It obscures our sanity. I also went through many different levels of emotions with memecoin, what I concluded was that I was only willing to spend money that I was willing to lose completely like gambling. It doesn't need complicated analysis. Colorful doesn't mean much, because it's a memecoin itself and doesn't have much applicability, so don't get too complicated about your expertise in the field.

[Hypnosis00]

Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.

This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.

To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat

Is that person selling his coin already? Because if not, he can never expect such a trend to come back, not anymore. Hype project just rises in no specific time but they drop forever. If we miss selling them during its peak, we can no longer expect to rally back anymore, it was a normal condition on altcoins.

Meme coin price manipulation remains but the question is if people are still buying them. Or they ignored it because of the risk and huge possible losses. Now, we can see the investors are getting smarter, they've learned already, and no matter how these meme coin creators do, that won't change their market insights, still they are shitcoins.

[Obim34]

This can be unarguably possible as I have seen something like this but never had the guts to pertake as per the greater risk involved.

Memecoins are mainly built to give this kind of huge returns within a very short time, just that many people are consciously backsliding from investing their money into it because of the risk of loosing the money. I'm sincerely happy for him, he removed fear and took the risk and it did pay off. I'm sure he had enough before investing that amount because it was a 50/50 chance. So, it is advisable to watch what you have and make investment on what you can bear the pain of loosing

After this kind of wave this memecoin has made, you see more people going to invest in it and it becomes where the project team will decide to rug the project very hard for this memecoin to last in the market.

[rodskee]

DR; That can be a made-up story to get more attention to that meme coin. But I also know stories like that are the same in the past that are genuine. I have no guts unlike this guy to invest $1k in meme coins. He probably has this money as spare and willing to lose. Who's going to invest in unknown meme coins? Well, anyway this season is like whatever you buy seems goin' to make you money even with random meme coins. Still, I'd play safe and won't do this.

Exactly what I see here mate, because random people claim to be earning this and that but
ended nothing but a made up stories, how many of this have we seen over the years even in ICO/IEO times
this is happening , this is also the reason why I never trust any Memecoins now aside from Dogecoin and
Shiba-Inu that i have vested recently but take out my coins now.

[Husires]

I do not like clickbait titles, as they give attractive titles, but we cannot verify whether the story is true, whether it is an indirect advertisement, or their desire to get more views. People love stories about a person buying a lottery ticket and winning, or that a person without effort landed a million. dollars, but the reality is not like that. You must work to get money, but you do not need to work hard to earn it, but rather work smart.
If it is possible to raise money quickly, calculated investments in high-risk assets may be the solution, but memecoins are closer to gambling than investment.

[DeathAngel]

People like the OP describes in his post are really lucky & I am happy for him. The problem is, people read the story in the media or whatever & think it’s easy for them to do the same. The fact remains that the guy described is in the minority. It’s like playing pin a tail on the donkey blindfolded sometimes trying to find a memecoin that does well. There are so many & sadly more people lose money than make big money.

[MFahad]

I wish I also write success story here. I am not lucky with meme coins. I made 25x-20x from meme coins only one or two time. I heard this token name first time and risk takers already made a history. I mostly busy with trading in centralized exchange and Meme tokens initially list in dex. The next meme coin maybe on Avax network which is also getting hype.

[ice18]

Much better to take risk buying memes on bullmarket than making perp trades without knowing the risk of being liquidated, I remember some shib stories from millionaires like one investor bought shib cost $8000 and later turned into million dollar in value after some months.  It might happen again in new memes like Pepe  and Bonk so you cant ignore that many of us hoping to make huge profits from this meme craze.  

[Xal0lex]

I envision two possibilities in this case. Either the person was really very lucky and he guessed the growth of the value of this coin, or he had insider information about the rate of this coin. I also do not exclude that this person was from the development team of this coin.