Are memecoins really important for the crypto market?

[JeffBrad12]

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.

its really good for speculation to be honest the price swing was massive too in the early days, tonight it dumps tomorrow it reaches all time high just overall the scene that I remember when meme coin was still at early stage and there are many emergence of meme coin that follow exactly just that cycle, i've known many of my friends that are avid meme coin investors and they are all always trying to find some new meme coin to repeat that same history again in case they can become millionaire overnight.
frankly speaking though, it might not be a really good investment once it hits certain market cap and might not be ideal for trader when it hits billions of market cap since the price is usually stabilizing.
but overall i see no difference between altcoin and meme coin in term of price fluctuation.
overall its all the same fluctuation suited for speculation even more so for trader that trades short term, always remember though meme coin is high risk trades or investment.

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[Promocodeudo]

Am not against the continues existence of any coin in regards to crypto but am not a good fan of all this coins that are not bitcoin, despite how expensive Bitcoin is I will always advise a newbies to invest in bitcoin instead of going for altcoin because I believe altcoin is mainly for those people that already have a good knowledge of crypto that knows how to identify scam easily not a new person in the system that does not know much about crypto and bitcoin in generation that can be deceived with over speculation and hype, be it memecoin or any other coin, if you are a newbie be careful if you find interest in any of them.

[Denamen]

Memecoins can attract attention and new participants to the crypto market, contributing to increased liquidity and trading volumes.    some people just buy meme coin for fun then they make a lot of money from it and pump. their friend, their family know about crypto.

[mdzahed134]

Memecoins can attract attention and new participants to the crypto market, contributing to increased liquidity and trading volumes.   some people just buy meme coin for fun then they make a lot of money from it and pump. their friend, their family know about crypto.

Yeah, the existence of MEME coins on the market it’s seems a good vibes for the market because so many new investors entering in crypto that's market is going big. If you considering a few MEME coins total marketcap it’s absolutely unbelievable as like DOGE,SHIBA & PEPE those are billions dollar of project. So i don’t think it’s a bad for market, if you don’t want to invest that's fine, no one force to invest here.

[Vincom]

Am not against the continues existence of any coin in regards to crypto but am not a good fan of all this coins that are not bitcoin, despite how expensive Bitcoin is I will always advise a newbies to invest in bitcoin instead of going for altcoin because I believe altcoin is mainly for those people that already have a good knowledge of crypto that knows how to identify scam easily not a new person in the system that does not know much about crypto and bitcoin in generation that can be deceived with over speculation and hype, be it memecoin or any other coin, if you are a newbie be careful if you find interest in any of them.

I understand this and believe that investors should allocate at least 50% of their capital to BTC because BTC is the safest and most valuable asset in the crypto market. Alternatively, ETH and top cap altcoins would be the next option with slightly higher risk but higher profit potential. Memecoins created for fun purposes should only be invested with fun money, although many people have become rich by believing in memecoins. The opportunity to receive huge profits from memecoins can help investors balance their emotions in the investment journey, like a person suddenly receiving a prize from a lottery ticket.

[Claymore2]

I believe Dogecoin is the original meme coin, and others are just trying to ride its wave. People who missed out on Dogecoin's rise are now investing in similar coins, but they haven't seen the same success.

[tengui]

Memecoins can attract attention and new participants to the crypto market, contributing to increased liquidity and trading volumes.    some people just buy meme coin for fun then they make a lot of money from it and pump. their friend, their family know about crypto.

Yes, a small number of people buy meme coins with the aim of having fun and making a profit, and the majority of people want to buy meme coins with the aim of making big profits in a short time but they actually get losses. Meme coins are basically created just for fun, so invest a small amount of capital and forget about it.

[Vincom]

I believe Dogecoin is the original meme coin, and others are just trying to ride its wave. People who missed out on Dogecoin's rise are now investing in similar coins, but they haven't seen the same success.

I think DOGE is the leader of memecoins, and it has a unique position that deserves to be in the top 10 on Coinmarketcap. Other memecoins are also quite interesting, such as FLOKI or PEPE, but they have not yet reached a large community like Dogecoin.

A big competitor of DOGE is SHIB, it is also very popular and is currently developing for Ethereum Layer-2 solution and DeFi. If SHIB can do this, it will be an impressive development as it was originally just a memecoin created for fun. SHIB is also listed on Upbit, it has been pumped quite well in the past time.

I like the competition: competition is good for the development of both DOGE and SHIB.

[Rasa nanas]

I believe Dogecoin is the original meme coin, and others are just trying to ride its wave. People who missed out on Dogecoin's rise are now investing in similar coins, but they haven't seen the same success.

You don't see the same success? what about people who invested in SHIBA WIF and SAMO, and of course invested before these meme coins were popular. Doge may be a meme coin that is a pioneer for other meme coins, but success does not belong to Doge alone.

[Vincom]

I believe Dogecoin is the original meme coin, and others are just trying to ride its wave. People who missed out on Dogecoin's rise are now investing in similar coins, but they haven't seen the same success.

You don't see the same success? what about people who invested in SHIBA WIF and SAMO, and of course invested before these meme coins were popular. Doge may be a meme coin that is a pioneer for other meme coins, but success does not belong to Doge alone.

The crypto market offers opportunities for all tokens, meaning that DOGE is not the only memecoin with value or worth investing in. The strong growth of SHIB, FLOKI, AKITA in the 2021 uptrend and the recent rise of PEPE, BONK, and WIFI reaffirm the diversity of the memecoins trend and the entire crypto market.

However, I also think that each person has the right to have a special preference for a token, for example, I may be particularly fond of BTC, while you are particularly fond of DOGE, and someone else is particularly fond of SHIB. We have our own opinions and can invest in any token we want!

[Troytech]

I'm not a meme coin hater just hate the fact that they are so many of them and scammers often use them to scam the crypto community and such news affect bitcoin in a way or two. Meme coins might have in a way or two brought some persons into bitcoin since they spread quickly but often also leaves some in losses since they are far more volatile than other alts and have great tendencies to crash quickly.

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.

Seriously bro, the only optimism I see is that of getting quick profits from meme coins, they have no real utility and are just created for the purpose of giving huge returns and making quick profits, it's like a gamble. So yeah lots of young people woudl be highly inspired by it.

[Jonyshake71]

I don't know what should i answer! if i should support memecoin or not. Cause it has negative and positive both sides. Negative side is, people have lost their money for memecoin hype or for sake of become rich. Memecoin scammers make many people helpless and these innocent people have negative thoughts about crypto market. But the positive side is memecoin makes many people Millionaire as well rich enough. Besides memecoins can make themselves pumped in bear market that attract people to Crypto market. Yeah I already invested in memecoins. my feelings was neutral. Cause profit and poss are kind of same

[Muslimin mj]

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

I think that the presence of memecoins in the crypto market is very disturbing because so many memecoins do not live up to expectations, memecoins do not deserve to be in the crypto market, but not all memecoins are useless because there are still some that still survive and others are just shitcoins. and I never invested in memecoin because I'm not interested.

[Y3shot]

Despite their are so many memecoin in the market that are scam I won't say they are useless because their are some memecoin that can give profit but one needs to be careful when it has anything to do with memecoin coin. Memecoin are very risky and I think it shouldn't be what people needs to take very serious to invest. I mean memecoin shouldn't not be people need to invest all they have, but with the amount they can afford  to lose.

[Vincom]

I don't know what should i answer! if i should support memecoin or not. Cause it has negative and positive both sides. Negative side is, people have lost their money for memecoin hype or for sake of become rich. Memecoin scammers make many people helpless and these innocent people have negative thoughts about crypto market. But the positive side is memecoin makes many people Millionaire as well rich enough. Besides memecoins can make themselves pumped in bear market that attract people to Crypto market. Yeah I already invested in memecoins. my feelings was neutral. Cause profit and poss are kind of same

In reality, everything has both positive and negative effects on us. Every token, including BTC, creates losses and profits, it all depends on the experience and decisions of the investor. Memecoins are riskier than other tokens, and most of them have become worthless shitcoins.

We can focus on top memecoins like DOGE, SHIB, PEPE to see more clearly the positive effects: crypto is promoted and has more potential investors because their prices are very cheap and people can own a whole token instead of 0.001 BTC. Avalanche Foundation has also invested in memecoins to support the development of the ecosystem, I think memecoins have the right to be treated equally with other tokens, especially when they also bring positive values to the development of the crypto market.

[New Money]

I do support meme coins and I think meme plays an important role in the crypto world.

Some of the top meme coins I have purchased or I will purchase:

(please let me know if you other thoughts)

• ConstitutionDAO (PEOPLE): A DAO initiative that raised over $42 million to buy a 1787 U.S. Constitution copy, demonstrating DAOs' potential despite losing the bid.

• Shiba Inu ($SHIB): Known as the 'Doge killer,' Shiba Inu ranks 15th among cryptocurrencies, with its Shibarium network enhancing transaction speed and cost.

• Pepe Meme Coin ($PEPE): A token inspired by Pepe the Frog, popular for its vibrant community and presence in social media trends.

• Scotty the AI ($SCOTTY): An AI-enhanced meme coin focusing on crypto security and fraud detection.

• Dogecoin (DOGE): The iconic meme coin with substantial community support and widespread acceptance.

• Smog ($SMOG): A Solana-based token aiming to differentiate through significant airdrop strategies.

• Sponge V2 ($SPONGEV2): Combines high staking yields with a play-to-earn racing game for its holders.

• Frog Wif Hat ($FWIF): A new meme coin targeting investors with its whimsical theme and potential returns.

• Meme Kombat ($MK): Features a battle arena for iconic memes, offering entertainment and investment opportunities.

• Poodl Inu ($POODL): A dog-themed meme coin with high staking APY, targeting investors in the vibrant meme coin landscape.

• ApeCoin ($APE): Offers governance features and is associated with the prestigious Bored Ape Yacht Club NFT collection, marking a shift towards utility in meme coins.

[irhact]

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.

But does it matter if your coins is still in the top coins on coinmarketcap, what matters is whether you made profits from your investment or not therefore if you can make profits from memecoins and change your life story as some individuals are doing, why not follow them and try your luck but don't invest more than you can afford to lose as memecoins investment are more  as gambling than investing as you don't know what the outcome will be and you'll most likely lose your money.

Most Memecoin projects are pump and dump scans this is the reason you're more likely to lose your money when investing into them therefore if you don't have the ability to let go of your loses don't chase after memecoins and invest into fundamental altcoins as Ethereum that won't disappear with your money but will be active in the market in all conditions developing their Blockchain to make it more better..

[Vincom]

I do support meme coins and I think meme plays an important role in the crypto world.

Some of the top meme coins I have purchased or I will purchase:

(please let me know if you other thoughts)

ConstitutionDAO (PEOPLE): A DAO initiative that raised over $42 million to buy a 1787 U.S. Constitution copy, demonstrating DAOs' potential despite losing the bid.[/li][/list]
-cut-

I think PEOPLE is the token of a leading DAO project in the market, where holders can vote on proposals within the network. I think it is a serious experiment in DAO in the crypto market for other projects to refer to and learn from.

SHIB is also moving in its own direction towards DeFi and Ethereum Layer-2, perhaps we will soon mention SHIB as a potential project related to technology rather than just a memecoin.

But does it matter if your coins is still in the top coins on coinmarketcap, what matters is whether you made profits from your investment or not therefore if you can make profits from memecoins and change your life story as some individuals are doing, why not follow them and try your luck but don't invest more than you can afford to lose as memecoins investment are more  as gambling than investing as you don't know what the outcome will be and you'll most likely lose your money.

Most Memecoin projects are pump and dump scans this is the reason you're more likely to lose your money when investing into them therefore if you don't have the ability to let go of your loses don't chase after memecoins and invest into fundamental altcoins as Ethereum that won't disappear with your money but will be active in the market in all conditions developing their Blockchain to make it more better..

The goal of investors for each token is to generate profit, not just memecoins. I also think that DOGE has affirmed its value in this market when it is constantly in the top 10 and receives investment cash flow.

Even the Dogecoin chain can completely carry value like the way Bitcoin is being used because their technology is quite similar. Litecoin has failed and been forgotten by the community, but Dogecoin still has a very large community. DOGE can completely be the currency of the internet with a cheaper price and lower transaction costs than BTC.

[Kristiyana]

Despite their are so many memecoin in the market that are scam I won't say they are useless because their are some memecoin that can give profit but one needs to be careful when it has anything to do with memecoin coin. Memecoin are very risky and I think it shouldn't be what people needs to take very serious to invest. I mean memecoin shouldn't not be people need to invest all they have, but with the amount they can afford  to lose.

Well I don't know if I will support memecoin or not, reason been that their are a lot of people who invested heavily on most of this memecoin hoping to get profited from the investment they made, but they end up regretting, reason is because it didn't work out the Way they expected.we need to be extremely careful when investing on memecoin because this memecoin is unpredictable sometimes I know a lot of people benefited from investing on this memecoin, but that doesn't give any guarantee.however i will advice when making investment look for a profiting coin to invest so as to avoid losing of money.

[Makus]

Irrespective of the fact that we have more of shitcoins coming from memecoins, all coins category of coins have their lesson to teach. To my best of knowledge, for meme coins it teaches a discipline to make concrete research and get to the market early. It also teaches one to focus on the market  due to its high volatility.  Many investors venture into meme coins because of its high volatility but in as much as that could make you rich in a split seconds( sarcasm) it can also cause you losses in that same rapid dump.