Forget Bitcoin - Memecoins Like Pepe, FLOKI and Bonk Are the Big Gainers Now

[Abiky]

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?

[jaberwock]

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?

That is always the case, and yet people are not really smart about that or at least they do not have foresight at all. It is so obvious that memecoins will be gone eventually, maybe in a year, maybe in a decade, but they are not things to hold for long term and everyone should get rid of it one way or another. But they don't, people just don't do it and that's a very sad reality unfortunately.

I think we should just consider this as a bad move, and because of that we need to make sure that we know what we are doing. Just don't invest into them and you are going to be doing a lot better, we can't just make it work some other way. If you do that, then you are going to end up with a great result eventually, just keep working hard for it.

[JamesDaniel90]

Anyone into Crow with Knife?

I have just found it and looks promising, only $50m market cap and pretty much of all of its supply in circulation.

If it can just get to $1b market cap that would be a 20x return so will probably have a small gamble on it.

[Iamcrypticguy]

Anyone into Crow with Knife?

I have just found it and looks promising, only $50m market cap and pretty much of all of its supply in circulation.

If it can just get to $1b market cap that would be a 20x return so will probably have a small gamble on it.

Alot of memes are trending. I'll check this out. But have you come accorws JAIL? it's a funny narrative albeit bullish.. noticed volume increasing on Bitget memezone & twitter.

[evichi]

My observation shows that meme coins basically grow in value due to hype. In my opinion, such growth is, in most cases, not sustainable. Just as the value grew up rapidly, the tendency is to drop in value quickly as well. Just like pump and dump, the gain in value is deceitful and must not be relied upon. On this note, you cannot use such meme coin as a store of value. Except for Doge coin, Shiba Inu, and a few others, it is a very high risk to buy a crypto asset as a meme coin. However, if I am to choose among the meme coins for investment, I will pick Doge coin, because of its resilience over the years.

On the other hand, Bitcoin value grows because it is sought after as a store of value (including other factors)  and over the years it has consistently grown in value. Investing on a meme coin means you have to be on your toes, so that as soon as there is gain in value, you have to quickly sell your assets to a more sustainable asset, otherwise, your assets may become worthless  moments later.

As an investor, always buy what you can afford to lose. Investing in cryptocurrency is a high risk venture. Remember not to put all your eggs in one basket. Conduct thorough research before investing your hard earned money.

[DaMut]

One thing that has made the meme coin outstanding is the power of their community, the community never leaves them same with the same project itself. That's why some meme coins are outperforming some blue chips. Look at what is happening currently, many of the blue bluechip project don't really treat the community well. More meme coin will rise , for anyone who can DYOR it's a good for profits with bull coming.