Does any meme coin has the ability to challenge bitcoin dominance ?

[ryannw]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

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[Upgrade00]

What utility do meme coins offer?

For a project to challenge and usurp, it would need to offer more utilities than Bitcoin does or improve on the aspect of decentralization, security and immutability.

Meme coins like many other altcoins are purely for speculation, causing the changes in price.

[BitMaxz]

Why would you challenge Bitcoin? If Bitcoin didn't exist do you think these memecoin exist?

Like they said Bitcoin is the king no one will be able to replace its position.
Meme coins just suddenly rose due to the upcoming Bitcoin block halving event so how can memecoin dominate Bitcoin?

[ImThour]

Your biggest Altcoin with millions of smart contracts and Meme tokens on it, MR ETH isn't going to beat Bitcoin anytime soon so you gotta forget about the PEPE or DOGE challenging Bitcoin's Dominance. Seems like an impossible task for any altcoin let alone Meme coin to come over Bitcoin's Dominance. The store of value literally helps people to invest and get better returns than the usual stock market and boomer stuff.

[D ltr]

one big thing that goes wrong when exchanging btc to meme coins,
As long as in the crypto world, meme coins only provide momentary profits, unlike Bitcoin, even in bearish times, BTC can still provide profits for traders.
and it should be noted that BTC can never be compared with other cryptos

[Jawhead999]

Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit.

Who? I believe a lot of real Bitcoin users i.e. users in this forum not feel tempted to see shitcoins pump because it's just temporary, sooner or later it will crash.

Ethereum as the second biggest token and had a chance to overtake Bitcoin in 2017-2018, it's still not even able to overtake Bitcoin until now, so it's really a big joke if you think shitcoins has a capability to challenge Bitcoin.

[moneystery]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

comparing bitcoin with memecoin is not apples to apples, because the two coins have deep differences. bitcoin has economics and it has features that help people to be able to transact more securely globally, basically it has the potential to be adopted by more people globally. meanwhile, memecoin only relies on hype and speculation from the market. it has no real economics and its adoption cannot be carried out by the wider community, because its use is only for fun.

so clearly, memecoin does not have the ability to challenge bitcoin because it only relies on speculation and hype from people.

[mamesso]

For me, Meme coin remains a trash coin even though Pepe rises 400% or more, I still stick to basic principles when investing and Bitcoin is always the main choice even though other coins have increased by more than 400%. Bitcoin will always be the flagship coin for me and the best store of value in the crypto market, its rarity of only 21 million coins available makes it both a hedge against inflation and a long term investment opportunity.

Until now I have not been interested in investing in meme coins even though they can offer high returns, the low market capitalization and lack of regulation can make meme coins very vulnerable to price manipulation and fraudulent schemes. Market volatility can also make investing in Meme coin very risky as its value can fluctuate rapidly based on changes in demand and other market factors.

[thecodebear]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

Bitcoin is global money.


Meme coins are useless little things whose entire value is based on people buying it for its name or logo. Literally anyone can make a meme coin. It's an endless supply, with no utility backing it up. Meme coins are 100% get-rich-quick speculation with nothing backing them up. They are purely for trading, and very very risky.


It's like asking if a kid in a lemonade stand on a street corner can challenge McDonalds in the food business.


If you're seriously asking this question you should start learning a lot more about Bitcoin and Crypto, and also about investing, money, and what makes things valuable in the first place.

[Samlucky O]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

Anybody to that move his fund from bitcoin to meme coin does not do it because of meme coin challenging btc but to make profit because as btc is rising by %10 so are some altcoin rising by %50 or above. But that does not imply that those meme coin is challenging btc in any ways. If you check binance and any other exchange right now you will discover that those meme coin you claim is challenging bitcoin are declining and BTC is still rising. Btc rose to $69k while Shiba,doge and Pepe are dropping so btc is alway btc and can not be compared with any other. I have seen many alt/shit/meme coin that challenged btc but all are no where to be found today. Btc has more reliable features compeard to meme coins. One factor is the total number in supply, market capitalization, market dominance.

[yudi09]

I don't want to dream in the middle of the day because dreams at that time are too far from reality. Usually dreams that come before dawn are close to reality. That is if there is a realistic effort.

There is no evidence to be gained from coin mem to determine Bitcoin's dominance. To me the coin meme sounds like bullshit. There's no use at all.
Never mind challenging Bitcoin's dominance, even challenging potential altcoins they have never been able to. If there was a time when meme coins dominated the market, it was just a momentary hype with no clear end in sight.

Is it suitable to be maintained here?
You know how to move the topic?

[LogitechMouse]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast.

Well, they got hyped because of Bitcoin's sudden rise in the past few weeks. I mean in times when Bitcoin goes up in price, so do altcoins, but not instantly. Don't look at meme coins too high. You might lose your money investing in it.

Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

Eh? Where did you get this idea? Do you have numbers to back it up? I'm a Bitcoin holder, but I'm not even thinking of selling it just to buy those meme coins especially now that it went up in price already. Any meme coin can challenge Bitcoin's dominance? Are you kidding me? Are you a meme coin maximalist think about that. Ok, I'll just assume that you're a newbie in investing, and meme coins are the first thing that you saw in Coingecko or Coinmarketcap hence, you are posting threads like this. Not even Ethereum can challenge Bitcoin's dominance so why think about it with meme coins?

If I were you, I would not look at meme coins that high because TBH, they are very risky to invest in. Maybe those meme coins at the top 100 are considerable, but those below? You can invest still though, but be careful, and most meme coins don't have any use case at all so for me, they are considered useless.

[kryptqnick]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

That's a fairly simple question, and the answer is no. Some coins can have some lucky growth due to pumping, speculations or just catching the wave of overall market growth. But challenging Bitcoin is not just about the price increasing significantly and fast. It's mainly about market capitalization, as that's how we measure which coins are at the top. Bitcoin has a capitalization of over $1 trillion, while Pepe is at $2.6 billion. So, to challenge Bitcoin, it would have to grow not by 4x (400%) but by 500x (50000%). I hope that alone shows how unrealistic this is.

[DooMAD]

There's a phrase we need to introduce into your vocabulary:  'Pump'n'Dump'.  

Anyone who has been around for a while can spot these a mile away.  Most meme coins won't exist long enough to challenge anything.  And even if they didn't disappear, they'd still have no network effects, no security (compared to Bitcoin, anyway), no purpose (aside from making the scummy creators wealthy at the expense of gullible idiots who fall for the scam) and no real-world utility.  

[EarnOnVictor]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

To replace Bitcoin? This question is not just thoughtfully asked. Bitcoin and meme coins are not just in the same class, and as we all know meme coins are for the representation and fun of it, so why would something as unserious as that replace Bitcoin? Bitcoin is the number one cryptocurrency and has good relevance due to that, and whatever positive thing you are hearing in the cryptocurrency space, Bitcoin leads it and keeps moving the industry forward. A typical example is the ETF of late. Fine, Bitcoin is heavy, it may not move as hugely as meme coins when it comes to the multiple times it could count the income for the investors' return, but don't also forget that it had done that before when it was still very small in price, so let's give it to it.

Now, Bitcoin may not move in that multiples to deliver the income, but meme coins cannot also reach the huge importance and dominate of Bitcoin, not to mention the huge liquidity of its market capitalizations. Billions are being pumped to Bitcoin as if it were nothing while a few million are being pumped to meme coins. And when it comes to the relevance and what the big guys and institutional investors and traders want to deal with, it's all Bitcoin. So I do not know where the challenge from meme coins is coming from, they are even far from it, you could be talking about Ethereum to make a more valid point even as Ethereum is still far from Bitcoin in terms of dominance and relevance in the industry.

[MFahad]

Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit.

Do you have any data to back this statement of yours? If no, then you shouldn't make things up on your own because I'm pretty sure that a sane investor would never be tempted to move their funds from Bitcoin to a meme coin just because of the short-term profits they can provide because they are not as strong as Bitcoin both fundamentally and technically. If someone thinks this way, they simply have no idea about Bitcoin and the market because someone with enough knowledge would know that Bitcoin is a much better investment despite the fact that some other coins including meme coins might be providing higher profits in the short run.

[electronicash]

i never thought someone would ask this. i was thinking of at least an L1 project that could challenge BTC.
if were going to be talking about the number of users using the memecoin, there might be a memecoin that is held by 10x the number of BTC holder after all they are cheaper and those who are in social media are likely to prefer memecoin than BTC because they can afford it than BTC.

so it's not about security or the intrinsic value that is challenged by memecoins but probably the number of users which could be billions.

[m2017]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast.

"Easy come - easy go".

Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit.

Are there many bitcoin users? Are you sure there are many? I will say that there have always been plenty of idiots (ready to exchange bitcoin for shitcoins.).

At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

Remind us about these meme coins in a year or two. Let's see what happens to them.

Do you really think that short-term hype for this trash-coins will undermine the dominance of bitcoin?

[JayTrain]

In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

Recently, we've seen a surge in interest in meme coins like Pepe, Dogecoin, and Shiba Inu, leading to sharp increases in their value. However, I believe that Bitcoin will remain the leading cryptocurrency for the foreseeable future. While meme coins may attract attention and create short-term speculative waves, their long-term sustainability and value are questionable. In contrast, Bitcoin has an established history, widespread recognition, and proven reliability as an investment asset and store of value.

[uneng]

Of course not. Memecoins are speculative altcoins, so it's natural few of them deliver high positive volatility on short run, especially taking into consideration the moment of crypto market we are currently living. At same time, it doesn't mean they have potential to overcome Bitcoin dominance.

While Bitcoin keeps rising on long run, always achieving new ATHs each new cycle, these memecoins hypes tend to last only for a single cycle. Once it's over, it's over forever, so what speculators do is to find a new memecoin to boost on the next bull run. And they keep doing this in a continuous process similar to Ponzi schemes, where early investors make money, while late investors lose.

The fact many investors' eyes shine with greediness for such massive increasements in price like 400%, lead these people into believing random altcoins can overcome Bitcoin inside crypto market, although there isn't any solid bases for that happening.