Are memecoins really important for the crypto market?

[BRINIRHA]

I still think that the existence of memecoins is important in crypto. Because we can't deny that memecoin also brings more beginners into crypto investment. Although they may have come initially because of FOMO, they eventually learnt and started to become great traders in crypto.

I have traded in memecoin. I even invested a little bit in memecoin. But I have never had a big profit in memecoin. But if it's a small profit then I get it very often.

[Vincom]

It's just something we need to try if we haven't tried meme coin investment in the category of Altcoins. You're right because they should not make it like how they are investing in other Altcoin that has some solid developers who have great idea for their projects and have updated roadmaps which will make their project alive and have a high chance to increased their alrcoin price.

I think memecoins are not bad, but it would be a mistake if investors put too much hope and capital into memecoins. The risk of memecoins is too great, many times greater than the opportunity, so investors should be cautious.
It will be more appropriate if capital is spent on good projects: strong teams, effective solutions, and famous partners and investment funds.

I still think that the existence of memecoins is important in crypto. Because we can't deny that memecoin also brings more beginners into crypto investment. Although they may have come initially because of FOMO, they eventually learnt and started to become great traders in crypto.

I have traded in memecoin. I even invested a little bit in memecoin. But I have never had a big profit in memecoin. But if it's a small profit then I get it very often.

We can't stop them, they will buy memecoins because they like memes and hear people talking about memecoins. I hope they don't lose too much money on memecoins, so they will have more money to invest in better projects.

I believe that profits have a direct impact on our perspective. Memecoins are very interesting and have a very clear trend, it would be better if we approach them with a technical analysis approach because it is difficult for fundamental analysis to be useful with memecoins.

[yazher]

Any coins that are boosting the crypto market and make it more popular to others, is good and welcome as long as they are true to their investors and making effort to keep their promised and what they have told people in their roadmap. Because if they only make meme coin to confuse the investors and quietly stole their money, they are just like others who will gonna ruin the crypto market. That's everyone should be aware of this kind of fraud so that they can prevent themselves from investing not only in the meme coins but in the other altcoins as well.

[Sayeds56]

Dogecoin is not totally a nonsense meme coin as it also contributed some but the rest is just something we never see as it real use case in the crypto space.
Generally, I couldn't say they are important but yeah, developers have the right and freedom to make these stuff even though people are not needing this.
At the point that meme coins are in the hype, people are happy but now, they are rejected and ignored - they are just considered as the pastime and in the long run, it helps nothing but just another shitcoins.

In fact Doge initially started as a meme coin and gained popularity due to its humorous nature. Going forward, it is certainly contributed for numerous charitable causes and gained support from community. I am holding reasonable amount of Doge coins those I purchased during the bearish phase of market with the expectation that it might break its previous all time high (ATH) of $0.68 and reach $1 in the next bullish market.

[Luffygroove]

I think meme coins were indeed meant to be a joke and for fun projects back then, far before the Dogecoin price soaring high because of Elon Musk's hype. It was created without a single bit of serious business and only as a joke. But now, I think the goals are already far deviated. Meme coins become a pump-and-dump mechanism that is used as a commodity to sell the belief that "people can get rich in one night." So now, people who make and jump into meme coin projects have a clear goal, which is far from only having fun.

[peter0425]

I love dogs and I bought DOGE in 2018 at 1 DOGE = 0.0025 USD but sold them at the beginning of 2021 when 1 DOGE = 0.1 USD. It's a pity because I couldn't hold until 1 DOGE = 0.7 to get x280 profit. Maybe I'm not destined for DOGE and memecoins 

I want to hear your opinion about memecoin in the crypto market:

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

Not in the moment but like you I have also invested or better call Have dogecoin in my wallet for how many months and I even use this for gambling , but yeah I have sold them all in much lower price.

But what does Memecoins doing in market now, I think they are more on pump and dump coins .

[antonyyu3]

Personally, I don't see any fundamental value of Memecoins. But this market just started for like a decade? So who knows

[ultrloa]

Personally, I don't see any fundamental value of Memecoins. But this market just started for like a decade? So who knows

No fundamental value its because this is just for pump and dump then immediately turn into scam. That's why its no sense to give any importance for this coin since we know that its reputation is somehow bad and to many scammers just take advantage of its fame.

Maybe later on this meme coin hype subside and it will be change into other famous thing that can caught peoples attention so people need to be aware with that especially if they are participating to much on meme coin hype since for sure just like other technology which been hyped for past years it will just fade out since many people will just find new interesting thing that can caught their attention especially on invest matters.

[snowpega]

I do not think memecoin has strong use case in the crypto space because crypto space can exist or survive without memcoins. On the other hand, when someone is thinking of getting max profit from Memcoins so in my opinion it is nearly impossible or very rare chance that memecoin can return max profit to investors so they can be rich overnight haha! I personally do not invest in memcoin due to high risk becasue memecoins works on high pumping and dumping schemes that is why I avoid investing in memecoins

[Hispo]

Honestly,  I believe memecoins are the kind of asset which make more damage than good to this ecosystem, unfortunately.
When cryptocurrency was a new thing and people within this world did not have so many bad intentions, memecoins like dogecoin were made or conceived as an innocent joke or parody to Bitcoin. It was no intention to profit out it.
Today, the landscape is completely different: behind most of the memecoins which try to hype up the people in the market there is a good chance to find a scam or an attempt to scam people.

I believe there is some value and purpose behind the existence of Dogecoin and Shiba Inu, but if we talk in net terms of the market, then I am inclined to say memecoins are no important and most of them just hurt the reputation of serious projects which seek to solve problems.
I would not advice anyone to invest heavily in memecoins, specially in new ones which came out of nowhere. At least Dogecoin has a long track record and precedents of pumping its price very hard when the community is hyped in the alternative coin season.

[AnonBitCoiner]

Yes, it all started from Doge but it's better if it's the only one meme coin in the market.

I think it is better that there is more meme coins instead of one because more will provide more opportunities to invest and get wealth. If we wisely choose meme coins then risk will not be as much as everyone is feared about meme coins.

Dogecoin but I've missed the peak of it and sold too early.

I don't know why you sell early but I think long term investment can give you more profit instead of selling at lower price after short period of holding. I think not only meme coins buy all types of coins are risky but we have to cope up with this risk instead of leaving the profit due to fear of loss.

[cute nmp]

Not really that important at all but many people are into them which gives them value and a sense of present in the crypto-market . So I guess people have make them somewhat important .The interest in meme coins is increasing cause many have make a lot of profits from them for example pepe which makes many millionaires by just investing thousands into the project.

[milewilda]

Honestly,  I believe memecoins are the kind of asset which make more damage than good to this ecosystem, unfortunately.
When cryptocurrency was a new thing and people within this world did not have so many bad intentions, memecoins like dogecoin were made or conceived as an innocent joke or parody to Bitcoin. It was no intention to profit out it.
Today, the landscape is completely different: behind most of the memecoins which try to hype up the people in the market there is a good chance to find a scam or an attempt to scam people.

I believe there is some value and purpose behind the existence of Dogecoin and Shiba Inu, but if we talk in net terms of the market, then I am inclined to say memecoins are no important and most of them just hurt the reputation of serious projects which seek to solve problems.
I would not advice anyone to invest heavily in memecoins, specially in new ones which came out of nowhere. At least Dogecoin has a long track record and precedents of pumping its price very hard when the community is hyped in the alternative coin season.

Damage or not, it doesnt matter! They would really be existing no matter what and since this is a free market on which no one needs for some permission on creating a new coin and launching it to public.

If we do really try to look around on how many coins that are being created every second or every minute then we can really tell that the trend is always on and not something that could die  anytime soon.
This is why as an investor then it would really be just that normal that you should really be that careful on what are the things that you would really be gonna tend to do so. Make out some wise decisions
basing up with your own common sense on how you would gonna approach things ahead.

Honestly, i've been dealing up with meme coins on which ive been trying out to find the next SHIB actually. Yes, its dangerous and something that pertains about more losses
but if you are really that wary and careful on dealing with up, you could actually make money with those initial pumps even if it would die right away after that.
There's money into it and this is why people are really that fond on doing so.

[Vincom]

Honestly,  I believe memecoins are the kind of asset which make more damage than good to this ecosystem, unfortunately.
When cryptocurrency was a new thing and people within this world did not have so many bad intentions, memecoins like dogecoin were made or conceived as an innocent joke or parody to Bitcoin. It was no intention to profit out it.
Today, the landscape is completely different: behind most of the memecoins which try to hype up the people in the market there is a good chance to find a scam or an attempt to scam people.

I believe there is some value and purpose behind the existence of Dogecoin and Shiba Inu, but if we talk in net terms of the market, then I am inclined to say memecoins are no important and most of them just hurt the reputation of serious projects which seek to solve problems.
I would not advice anyone to invest heavily in memecoins, specially in new ones which came out of nowhere. At least Dogecoin has a long track record and precedents of pumping its price very hard when the community is hyped in the alternative coin season.

The market always has more losers than winners, no matter what token it is, even BTC and ETH, of course memecoins are no exception. We cannot expect that the majority of investors will make a profit, because profits do not suddenly appear out of thin air, that is the rule of this market. In addition, there are many fraudulent projects in each field: Layer-1, DeFi, GameFi... Memecoins is also a field with many fraudulent projects, it is no exception.

I see it positively that memecoins can have promotional value and attract investors to the market. Many people only know BTC and DOGE, they don't even know ETH or USDT. Even memecoins have created a whole meme culture in the crypto market 

[kamvreto]

Memecoins that have high volume will be very important for CEX because they will list and get a lot of fees from transactions made. like some memecoins that are currently hype and have many communities, even volumes reaching $1B will be a good source of income for CEX. but for the crypto market it will just be a temporary memecoin hype and the crypto ecosystem will not be disturbed either. there are more memecoins that keep appearing and only a few manage to fetch incredible prices.

[oktana]

Have you ever invested in memecoin? Which memecoin is that?

Dogecoin but I've missed the peak of it and sold too early.

You’re not alone on that one. It’s really difficult and almost impossible to see someone who didn’t sell off at some point. Maybe unless they lost access to their wallet. Even if it were to pump right now, eventually you will tune out at some point because meme coins are really volatile and you do not know if the pump will stay or it’ll go back down. I would be really surprised to see someone who had access to their wallet back then but hasn’t sold their DOGE till now.

[john1010]

I think that memecoins are important for the crypto market, but not in the way that some people might think. Memecoins are not important because they have intrinsic value or utility, but because they have entertainment value and community value. Memecoins are fun, humorous, and engaging. They attract new and young users to the crypto space, and they create a sense of belonging and identity among their fans. Memecoins also generate a lot of media attention and social buzz, which can raise awareness and interest in the broader crypto ecosystem.

However, I also think that memecoins are not important for the crypto market in the long term, and that they can be dangerous and distracting in some cases. Memecoins are not important because they are mostly based on hype, speculation, and manipulation. They have no real innovation or differentiation, and they are often vulnerable to scams, hacks, and crashes. Memecoins can also divert attention and resources from more serious and valuable crypto projects, and they can damage the reputation and credibility of the crypto industry.

[Vickysagar]

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

1. I don't support it, but I'm not against it, I'm just not interested in that market, I think that it's highly speculative.
2. I invested in Doge
3. I still have it, it did bring some joy, wow, a DOGE coin, how funny. But then I just wanted to sell it, but I didn't do that when it topped, and now I'm just waiting for the good moment to get at least some profit from it.

[Makus]

I think that memecoins are important for the crypto market, but not in the way that some people might think. Memecoins are not important because they have intrinsic value or utility, but because they have entertainment value and community value. Memecoins are fun, humorous, and engaging. They attract new and young users to the crypto space, and they create a sense of belonging and identity among their fans. Memecoins also generate a lot of media attention and social buzz, which can raise awareness and interest in the broader crypto ecosystem.

However, I also think that memecoins are not important for the crypto market in the long term, and that they can be dangerous and distracting in some cases. Memecoins are not important because they are mostly based on hype, speculation, and manipulation. They have no real innovation or differentiation, and they are often vulnerable to scams, hacks, and crashes. Memecoins can also divert attention and resources from more serious and valuable crypto projects, and they can damage the reputation and credibility of the crypto industry.

I support your point mate, meme coin where created for fun and the amount of coin in circulation are too much for the coin to be considered a coin for serious investment. those who invest in meme coin should be careful because there are several scam project out there coming from meme coins, and one thing that troubles me most is the ability of the coin to be easily manipulated. And the high volatility of the coin might bring loss to a newbie investor, however for you to be able to trade properly with such coins, then you must have your eyes fixed on the market to avoid losses.

[Y3shot]

It is only 3% meme coin that are good to invest,  the rest are shitcoins that is why people needs to be very careful when planning to invest memecoin. They are not reliable to invest,  most of them were created to just to scam people of getting money from them. Meme coins shouldn't be taking serious for investment, it shouldn't be consider to be an investment.  I also call Memecoin gambling coin because they are very much unreliable and unpredictable.