Are memecoins really important for the crypto market?

[EarnOnVictor]

Do you support the existence of memecoin in the crypto market?

Of course, I do. They've made the cryptocurrency market more exciting, though without them, the cryptocurrency market would still be as it is no, no difference envisaged in my opinion. But nevertheless, they are welcome developments.

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

Yes, I've invested in a few of them like, MEME, SHIB, DOGE, PEPE, FLOKI and more.

Has your investment in memecoin brought you joy, profit or loss?[/li][/list]

Well, in some, yes, but in SHIB, no. I've invested and gained in virtually all of the meme coins I invested in, to the point that my last investment in $MEME earned me more than double of my investment.

But with what I've lost in SHIB, it will take time before I recover it. I invested in SHIB in 2021 at that time when it was just getting ready to fall long-term. I suffered a huge loss which will take at least a year of good bullishness to recover and SHIB would have moved at least x4 of the present price before that will be possible.

[Romeotom]

Essentially speaking everything is worth it for this crypto market because here the investors invest and get profit which can be from any position. You can never avoid a good memecoin because there are profits too. If you are an investor then you should invest and reap the profits in any way you can. Many people have become rich from these memecoins that you should know.

[Sophokles]

Meme coins are important for whales and scammers because they help both of them wash their wealth. I have heard that black money has been injected into crypto by using meme coins; later, those funds have been reallocated to different projects, and you will never know the origin of the money. A lot of meme projects have been created for these purposes, and scammers are just using the hype to scam some greedy and new retail investors by launching new meme projects into the market.

[IvugeoEvolutionCoin]

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

If anyone is thinking of investing in Memcoins for high profit I would like to tell them that you can look for some good altcoins without investing in Memcoins and you will have a chance to get some good profit. Investing in Memcoins can't expect good profits so Memcoins now  I think it's better not to invest. If someone wants to invest in Memcoins and wait for a long time, I don't know if there will be any benefit.

[fullhdpixel]

GigaChadGPT is an example of how meme coins can be used for innovative and creative purposes, beyond just fun and speculation. GigaChadGPT aims to democratize access to AI and provide a platform for users to interact with various GPTs (Generative Pre-trained Transformers) that are customized for different tasks and domains. GigaChadGPT also rewards its users with GigaCoins for using the chatbot and creating new GPTs.

Interesting! This is the first time I've seen a meme coin having some good project to back it up, if people find this interesting, the token will surely get some hype and have great growth soon.

However, there are a few things that I've noticed. The first thing was that the responses in the chat casually contain promotional lines for Giga which is understandable but it would be better if it weren't included in most of the responses. Another thing is that it doesn't have a web interface for the chat and one requires to chat with it on Telegram after a few messages. I believe it would have been better if it had a web interface for the AI for easier access for the users. Still, it's pretty good and these things can always be added and improved in the future.

[Mehedi72]

1. I don't have any problem about the existence memecoin in of crypto market. Cause Memecoin won't force anyone to invest.  I read your references which are given in last part of thread. I feel that, its okey to have some opportunity for people who wanna take risk and become millionaire lol
2. Yeah. But not new shitcoin with lower marketcap. I would give preference to doge, shiba, bonk, pepe in this care.
3. Years ago, i have some dogecoin and made little profit. Memecoins actually makes you in tension due to its volatility

[wxa7115]

Meme coins are important for whales and scammers because they help both of them wash their wealth. I have heard that black money has been injected into crypto by using meme coins; later, those funds have been reallocated to different projects, and you will never know the origin of the money. A lot of meme projects have been created for these purposes, and scammers are just using the hype to scam some greedy and new retail investors by launching new meme projects into the market.

It would not surprise me at all if that was the case as well, after all even if the demand for meme coins are high among all the people that want to become rich with them, I would think there is a limited amount of times those people could get deceived by those projects and their funds must be limited as well.

But if those coins were used in this way this could explain why those coins have a high demand even when the bear market appears, but if that is the case then there is not much that can be done to stop those coins from proliferating and becoming even more numerous on the future.

[JeffBrad12]

1. I don't have any problem about the existence memecoin in of crypto market. Cause Memecoin won't force anyone to invest.  I read your references which are given in last part of thread. I feel that, its okey to have some opportunity for people who wanna take risk and become millionaire lol
2. Yeah. But not new shitcoin with lower marketcap. I would give preference to doge, shiba, bonk, pepe in this care.
3. Years ago, i have some dogecoin and made little profit. Memecoins actually makes you in tension due to its volatility

its available for people to speculate about and it serves its purposes i guess, sometime the trend just come out of a sudden, making some random meme coin become popular enough and then it dipped for some moment.
i remember the time where doge coin as a meme coin that wasn't really considered to be a thing back in the early days having spotlight after elon mentioning it from several occasion and then people went crazy over it and then it reached billions of market capitalization.
thats the thing with doge coin in general, you just can randomly stumble upon some good opportunities and make grands out of nothing it is good for speculation but definitely not good for people with conscious risk management.

[Vincom]

Meme coins are important for whales and scammers because they help both of them wash their wealth. I have heard that black money has been injected into crypto by using meme coins; later, those funds have been reallocated to different projects, and you will never know the origin of the money. A lot of meme projects have been created for these purposes, and scammers are just using the hype to scam some greedy and new retail investors by launching new meme projects into the market.

I do not deny that it is possible that many memecoins in the market are controlled by whales and scammers. However, even other tokens are similarly manipulated and financial markets operate in such a way that the majority suffer losses, in order to generate large profits for the minority. Memecoins are no exception to this necessity.

I have pointed out the positive impacts of memecoins such as media value, increased transaction volume and native coin burn, building a strong crypto community. I think we should have a complete view of memecoins: neither too positive nor too negative 

[Dailyscript]

Do you support the existence of memecoin in the crypto market?

Why not, i played around with the  100x coin a meme coin owned by Ken D crypto a crypto influence. That was when i fell in love with the idea of owning a meme coin as a crypto enthusiast.

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

I did invested in Doge, Shiba Inu and the 100xcoin indeed it did 50x for me because i did not hold it  more longer

Has your investment in memecoin brought you joy, profit or loss?

My experience in the meme coin i had invested in then was nice. I made profit and no loss. Currently i am not holding any meme coin in my portfolio so i do not know how it feels to make loss.

[MFahad]

Essentially speaking everything is worth it for this crypto market because here the investors invest and get profit which can be from any position. You can never avoid a good memecoin because there are profits too. If you are an investor then you should invest and reap the profits in any way you can. Many people have become rich from these memecoins that you should know.

How exactly do you expect someone to know which meme coin is good and which is bad? Meme coins are all the same when they are created, they don't have projects, they don't serve any purpose, they don't provide any utility to their investors, and they don't have an organic growth mechanism which every cryptocurrency has which is why they are always dependent on community hype to gain value.
Those who have managed to become rich from their investments in meme coins, however, this doesn't have to happen to everyone because it's just like gambling where you make a bet and pray that you win it so that you get some money on top of your bet if you lose it, your money is gone.

[Rasa nanas]

1. I support because meme coins are part of crypto and have their own investor base.
2. I don't know if I should say yes or not because I got it from an airdrop. what I remember most is bonk.
3. yes I got big profit because I got it free from airdrop.

[Y3shot]

1. I support because meme coins are part of crypto and have their own investor base.
2. I don't know if I should say yes or not because I got it from an airdrop. what I remember most is bonk.
3. yes I got big profit because I got it free from airdrop.

I know memecoins are very risky and many people have lost in this project because of planing to make quick money from it and it have also benefited from memecoin. The problem people do have with investing memecoin is just that they go into it without understanding how much they need to invest and without making research on what they doing. They just have so much believe in memecoin that it can always pay them. If people should invest with caution it will really help.

[avp2306]

1. I support because meme coins are part of crypto and have their own investor base.
2. I don't know if I should say yes or not because I got it from an airdrop. what I remember most is bonk.
3. yes I got big profit because I got it free from airdrop.

I know memecoins are very risky and many people have lost in this project because of planing to make quick money from it and it have also benefited from memecoin. The problem people do have with investing memecoin is just that they go into it without understanding how much they need to invest and without making research on what they doing. They just have so much believe in memecoin that it can always pay them. If people should invest with caution it will really help.

The problem with those people is they are trying to get more larger gains and they expect a x1000 profit for each meme coins they select to invest.

But they fail to realized that its risky for them to hold any of it since as usual this type of tokens will just play them and make them believe that there would be more and suddenly the price dump then they are left behind helpless for another scam made by those crazy devs.

Meme coin is somehow a good option for investment but people need to know that this is only for short term and they should never think about getting to the point that they became so greedy since for sure all will end up not in favor on their side.

[MiauKitchen]

I can't say meme coins are important in the crypto market.
because I think criptocurency members already know and understand better, which is good and which is not.
I also can't suggest the best memecoin of my choice.

[lepbagong]

If anyone is thinking of investing in Memcoins for high profit I would like to tell them that you can look for some good altcoins without investing in Memcoins and you will have a chance to get some good profit. Investing in Memcoins can't expect good profits so Memcoins now  I think it's better not to invest. If someone wants to invest in Memcoins and wait for a long time, I don't know if there will be any benefit.

The era of meme coins is no longer shining, and I agree with you, friend, that instead of continuing to rely on meme coins for investment and getting high profits, it would be wiser to do so on potential altcoins which will clearly provide high profits. If I think that investing in meme coins for a long time will actually mean that the funds we invest will be lost without value because the meme coins may no longer be on the stock exchange.
If you want to speculate only for the short term, I think that's fine, like currently when Bitcoin is increasing, which will also provide encouragement to others.

[Oxbro]

The crypto market is experiencing a resurgence, with Bitcoin reaching 49k USD and numerous altcoins breaking free from the crypto winter's grip. Memecoins, too, have joined the recovery trend, with many new ones emerging. The memecoin craze shows no signs of slowing down, fueled by the promise of life-changing opportunities. Stories of investors striking it rich with DOGE^[1], SHIB^[2], and PEPE^[3] abound, prompting me to delve into the world of memes and memecoins.

"A meme is a piece of content (an image, video, or text) that is humorous in nature, spreads quickly across the internet, and can be remixed and transformed over time. In a more general context, it’s an idea that spreads quickly from person to person within a culture^[4]."

"Meme coins are a cryptocurrency genre loosely defined as having an exuberant online community supporting the currency's growth^[5]."

In essence, memecoins are the crypto equivalent of memes, designed to inject humor and excitement into the crypto landscape. But unlike other asset classes – forex, stocks, bonds, and commodities – memecoins exist exclusively in the crypto realm.

This unique distinction reflects the freshness and optimism of the crypto market. Participants in this space are primarily young individuals who embrace innovation and financial exploration rather than sticking to traditional assets like gold, oil, and foreign currencies. Their optimism translates into humor, giving rise to the likes of Dogecoin and ShibaInu. The meme wave is unstoppable, fueled by the boundless creativity of human humor.

I think, humor also plays a crucial role in mitigating psychological stress in the crypto market's inherent volatility. When prices experience sharp swings, investors often express their emotions through memes, poking fun at themselves and others. This self-deprecating humor helps lighten the mood and diffuse tension. Memes, in turn, give birth to new memes, and from these, new memecoins emerge.

But memecoins aren't merely vehicles for humor or lottery tickets. They also hold significant value in the broader crypto ecosystem:

• Attracting attention: Memecoins' inherent intrigue captivates the community, bringing crypto closer to potential investors.
• Accessibility: Often priced very low, memecoins are easily accessible to newcomers, lowering the barrier to entry.
• Price appeal: Their volatile nature can lead to meteoric price increases, fueling investor optimism, breaking down fear, and generating FOMO.
• Burn mechanism: Memecoins with high transaction volumes burn significant transaction fees, reducing the supply of native tokens and supporting their price.

The Avalanche Foundation's recent decision to invest in memecoins further underscores their growing importance^[6], even among those who dismiss them as mere "trash" in the market.

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?

References:
[1] Truck Driver That Made $3 Million from Dogecoin (DOGE) is Now Selling His Bags to Invest in This New Memecoin
[2] From $1,000 to $1 Million, How Shiba Inu Made People Millionaires
[3] Becoming Millionaires in 2 Weeks: How 3 Addresses Got Rich with PEPE
[4] Buffer: Meme
[5] Investopedia: Meme Coin Explained
[6] Avalanche Foundation to Purchase Meme Coins as Part of Culture Drive

Yo, are memecoins legit crucial for the crypto game?

The crypto scene's heating up again, with Bitcoin flexing at 49k USD and tons of altcoins busting out of the crypto winter. Memecoins ain't sitting on the sidelines either; they're riding that recovery wave hard, popping up left and right like nobody's business. And let me tell ya, the memecoin frenzy ain't slowing down, man. Folks are chasing those life-changing gains, hearing tales of peeps striking it rich with DOGE, SHIB, and PEPE, got me itching to dive deep into the meme world.

So, what's the deal with memecoins? Well, they're like the crypto version of memes, injecting some humor and excitement into the whole crypto scene. But unlike your usual financial stuff like stocks or bonds, memecoins are strictly crypto-exclusive, adding that extra spice to the game.

And let's not forget about the power of humor in handling the crazy rollercoaster ride of crypto volatility. When prices start going bananas, people turn to memes to lighten the mood and ease the tension. It's all about poking fun at ourselves and finding some comic relief in the chaos. And from those memes, new memecoins are born, baby!

But memecoins ain't just about laughs and lottery tickets; they're packing some serious value too:

They grab eyeballs: Memecoins pull in the crowd's attention, bringing more peeps into the crypto world.
Super easy to get in: With low prices, memecoins welcome newcomers with open arms, breaking down barriers to entry.
Price hype: Their wild price swings can send 'em to the moon, fueling that investor optimism and stirring up some serious FOMO.
Burn, baby, burn: High transaction volumes mean burning those fees, shrinking the token supply and keeping those prices up.
Even the Avalanche Foundation's throwing down in the memecoin game, showing they ain't just some trash floating around the market.

Man, I feel ya on missing out on those DOGE gains. Bought in back in 2018, sold too early in 2021, and now kicking yourself for not holding onto that sweet x280 profit. Sometimes, the universe just ain't feeling the DOGE vibe, ya know? 

[dlightag]

That's absolutely correct on the conclusion of your post reference of truck driver become a millionaire over night, for investing Doge Coin and is Meme, like wise Shiba Inu and other meme Coin, actually investing meme Coin is a good one and more profitable and very high risk business to invest on, while holding.

[Vincom]

That's absolutely correct on the conclusion of your post reference of truck driver become a millionaire over night, for investing Doge Coin and is Meme, like wise Shiba Inu and other meme Coin, actually investing meme Coin is a good one and more profitable and very high risk business to invest on, while holding.

Although they were extremely special cases, I believe these events contributed to memecoins becoming popular in the community. Many people come to crypto because they heard friends and relatives talk about memecoins, many people have also invested in memecoins and other cryptocurrencies.

However, we must not forget that every investment has risks, so do memecoins even though they are created for fun purposes. I hope that investors can manage risks well to continue to survive and earn profits in the crypto market.

[dogemoon]

top 20 in 2014:

Bitcoin, Litecoin, XRP, Peercoin, Nxt, Omni, Dogecoin, Namecoin, Quark, Bitshares, Primecoin, Worldcoin, Megacoin, Infinitecoin, Feathercoin, Novacoin, Tickets, Devcoin, Ybcoin, Mooncoin

You can look at the top 100.

https://coinmarketcap.com/historical/20140126/

It doesn't matter what good, serious, and promising projects they all were. After 10 years there are only those that have the support of a community, Bitcoin, XRP, Dogecoin, and Litecoin.