I understand that in the short term, memecoins, which serve no real purpose, have been performing extremely well. However, it's important to keep in mind that these coins are speculative assets and carry substantial risk...
While Dogecoin holds a special place as the most well-known memecoin, I personally wouldn't consider it a long-term investment. Furthermore, Binance has been delisting projects nowadays that have made meaningful contributions to the cryptocurrency space in the past, indicating that memecoins may not remain listed on Binance for an extended period...
There is a lot of merit in your view, but we should not forget that the period we are in is a transient period...
Of course. The "meme" coins hype won't last forever. Eventually, major "meme" coins will disappear as people move on to the next big thing in crypto. The only "meme" coin that will survive is Dogecoin. Why forget about Bitcoin when it's the one cryptocurrency that started it all? You'll win more by holding BTC long term than holding worthless "meme" coins. They're highly-speculative and risky.
Just because Elon Musk endorsed Dogecoin, doesn't mean you should put all of your life savings into it. People truly don't understand how crypto works. Hopefully, the industry moves beyond speculative assets ("meme" coins, NFTs, etc) and focuses on utility. Who knows what the future will bring?
