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

[Zlantann]

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 ?

Any other coins apart from Bitcoin is a copycats and cannot be trusted. Some altcoins have lasted for a very long time and also enjoyed some level of stability, but it doesn't make them Bitcoin competitors. Have you ever considered the risk involved in buying meme coins? Many unlucky people have lost money investing in these shitcoins. It is better to buy a coin that you are sure will stand the test of time and Bitcoin has shown to be that cryptocurrency. Many people who invest in Bitcoin are not just interested in profit making but other benefits that it offers. Therefore I don't think these altcoins will ever challenge Bitcoin's dominance. It is important to be cautious when investing in all these shitcoins because you stand a high chance of losing your money.

[AmoreJaz]

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.

In all honesty, I don't think any meme coin or token will surpass the popularity or dominance of bitcoin. Meme projects are mostly driven by hype. Think of their actual use case or foundation and you will understand why most of them are short-lived. Because let us admit the fact that most of them are created for the enrichment of their own devs, nothing more.

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.

I don't think anyone can get the statistics on this particular subject. Maybe, you can feel that a lot of people are into meme because they are loud in social media channels. But we can never be sure also about the figures of btc holders. So yeah, we can't conclude on this matter.

[philipma1957]

Scrypt due to the Bitmain L7 miner is legit.

and in the long run should do well.

just merge mine LTC and DOGE.

I wish I was born in 1997 not 1957 I would simply merge mine LTC + DOGE

I would hold for long term gains until I was 50 around the year 2047.

The true visionary can look at BTC with its 6 blocks per hour and scrypt with 12 LTC and 60 Doge blocks per hour and realize scrypt can carry more transactions.

This is a 20-30 year play but pretty much certain to make solid profit.

[Faisal2202]

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 ?

I prefer those BTC holders an idiot who will sell their BTC just to buy Memecoins, and you are talking about the dominance of Memecoin, I suggest you to check the value of each meme coins, you will see in the top 20 losers in the 24 hours there are more meme coins than other coins. Why is that? because the money is flowing from such useless tokens to more liquidity tokens and coins.

Therefore the value of these meme coins is decreasing but of course, that's not permanent and they will be corrected after some time, but specifically talking about BTC holders, they should not invest in meme coins by selling their BTC holdings, even if the returns in meme coins is higher then the BTC itself. I consider investing in meme coins almost equal to gambling because in most of cases, we don't know where it will go, as the price valuation of meme coins is so unpredictable.

In short, no memecoin has the ability to cross the BTC dominance, do you know what the BTC dominance is?

[Assface16678]

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 ?

I prefer those BTC holders an idiot who will sell their BTC just to buy Memecoins, and you are talking about the dominance of Memecoin, I suggest you to check the value of each meme coins, you will see in the top 20 losers in the 24 hours there are more meme coins than other coins. Why is that? because the money is flowing from such useless tokens to more liquidity tokens and coins.

Therefore the value of these meme coins is decreasing but of course, that's not permanent and they will be corrected after some time, but specifically talking about BTC holders, they should not invest in meme coins by selling their BTC holdings, even if the returns in meme coins is higher then the BTC itself. I consider investing in meme coins almost equal to gambling because in most of cases, we don't know where it will go, as the price valuation of meme coins is so unpredictable.

In short, no memecoin has the ability to cross the BTC dominance, do you know what the BTC dominance is?

I agree that the meme coin surge is just because of bitcoin pumping. It has been noticed that, after a while, the price of meme coins will drop dramatically. Holders or traders of those meme coins are just using them to earn; they don't care what will happen next to their market, unlike in bitcoin. As the preparation of bitcoin is in process for the most-awaited bull run, the price of it is pumping, and even though it's close to its ATH, you will notice that almost no one is selling as they believe that the price of bitcoin might double in the bull run. So unlike bitcoin, those meme coins are super risky to invest in. Truly, you could earn from them, but if you buy in the right position and sell first when they reach their peak price, I don't disregard meme coins as I also have holdings on them and am earning, but I will never sell my bitcoin holdings just to invest them in other meme coins.

[South Park]

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 ?

What do you mean by challenging bitcoin dominance? If by that you mean a meme coin gaining a market cap higher than bitcoin and becoming the new dominant coin on the market then this is not possible at all, look, we can take a look at the charts and see the movements of some of those meme coins, but those movements are fueled only by speculation, and as soon as the movement is over those coins will crash by 90% or even disappear completely, while bitcoin will remain as bitcoin has a legitimate use case.

[FinneysTrueVision]

Meme coins should not be seen as a serious investment. They have greater volatility which can lead people to believe they are more profitable than holding Bitcoin, when they see Shiba, Doge, and Pepe pumping hundreds of percentage points. These pumps are short term and quickly disappear, leaving many users with significant losses.

Memecoins were some of the biggest losers after today’s price correction, most of them going down 20% or more. This effect is even more pronounced during bear markets when memecoins have bigger losses and lesser gains.

Using Dogecoin as an example because it is the most known and established memecoin, despite going up 104% against the USD over the past year, it is still down -27% against BTC over the same period.

[Helena Yu]

Currently Bitcoin market cap is $1,2 Trillion, while the current all meme coins market cap is $54,3 Billion. Bitcoin, an one coin have 22 times higher than the whole meme coins in terms of market cap.

In order to challenge Bitcoin, meme coins needs:
1. To be accepted as legal tender.
2. To be accepted as ETFs.
3. Can survive in any situations e.g. bear market, crisis, recession etc.

Unfortunately I don't see meme coins even have one of them.

[adaseb]

The only coin or token that came marginally close to flipping bitcoins market cap was ETH. This was in 2017 during the Segwit debate and ETH was gaining while BTC was declining and if I recall it came maybe a few %s away from flipping but never did.

Can some meme coins top bitcoin? Sure it’s possible but it won’t hold that market cap for long. Only way I can see this happening is maybe if some entity owns 99.9% of the supply and artificially inflates the price while never actually selling a signal token.

So it’s possible but not likely.

[baileyrichards]

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.

Even without any utility, they are performing better than bitcoin. As an investor, will you not consider returns while making a choice between which crypto to invest ? The fact that they are rising so fast in comparison to bitcoin is an indication that there is more demand for mem coins in comparison to bitcoin.

Crypto world is very unpredictable. I would not be surprised if some new altcoin replaces bitcoin as the number one coin in terms of market cap in future.

[Warkop]

Before there were meme coins, Bitcoin was created first, because Bitcoin is the heart of all Altcoins which were created to make it easier for everyone to own crypto. So in my opinion no one wants to move their funds from Bitcoin to meme coin just to make a profit, this is the stupidest thing if anyone does something like this. Meme coins are cursed coins that will never be able to provide big profits in the future, the increase in meme coins this year is just a trend that has occurred in the last few years, after that they will definitely be thrown away like trash. So in essence there will be no coin that can dominate other than Bitcoin and only Bitcoin has a future that looks promising from year to year.

[davis196]

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 ?

It's easier for a memecoin with 100 million USD market cap to reach 10 billion USD market cap and increase it's price 100x.
Bitcoin has a big market cap and it's impossible increase it's price 10x. The only value of a memecoin/altcoin/shitcoin is the ability to pump & dump and make absurd price growths. Does that mean that memecoins could challenge Bitcoin's dominance? Absolutely not. Bitcoin will always remain the king of crypto, centralized shitcoins/memecoins just come and go, while Bitcoin will stay. Can you imagine a memecoin dominating the entire crypto industry? That would be a total nonsense.

[Asuspawer09]

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 ?

Probably not when it comes to dominating Bitcoin because they were just too far when compared to market cap so probably not going to happen even for some famous meme tokens in the market. But when it comes to making profit this meme tokens are for sure have a higher return even when compared to Bitcoin,Ethereum and other famous altcoins out there, because of its high volume supply and low market value, you could easily buy a huge volume of this token in the market which means you could easily multiple your investment on it easily, but for sure comes with a drawback as well because of the volatility it could easily pullback its market price.


Meme Tokens

Still, the return of these meme tokens is really high on a 7-day average up to 300% of return which is x3 of your investment, your not really going to get that on Bitcoin even though it reaches 100k$ probably if you're going on a leveraged trade you could.

I think meme tokens are really great when it comes to quick profit, its kinda risky but with the control amount of investment you could make a quick bucks of it, still it doesnt have some kind of utility so I would still avoid it on long term investments.

[ultrloa]

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 ?

Nope it can't challenge the dominance of bitcoin since people know especially those long stay on cryptocurrency scene that meme coins is just a pump and dump scheme.

Maybe for now Pepe and other meme coins got the spot light because they are been hype again but for sure once correction for the said coins and hype are done with it for sure the demands will subside then majority will go to bitcoin knowing that this is the top choice of people especially for their long term investment.

Bitcoin is strong currency and widely adopted so expect that meme coin will not surpass bitcoin since we know Bitcoin is at the top of the chain.

[alankasman]

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 ?

Pepe? Doge? Shiba?
Oh man. Almost all altcoins are just market players that rely on smart contracts from large altcoins. Big admired altcoins also cannot be competitors to Bitcoin.
I think minds like yours should not compare it with Bitcoin when looking at market dominance. When big altcoins can't compete with Bitcoin, then meme coins that rely on smart contracts have found the answer.

Coin memes are only fleeting and will become trash someday. People who keep coin memes will see coin memes as dirt in their wallets because they are no longer valuable.

[Gladitorcomeback]

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 ?

No and never, If any coins could be then It would be Ethereum but despite of so much demand Ethereum has still 18% dominance and Bitcoin have 52% so one can easily understand the difference. The problem with meme coins is that these coins last for very short time and only those crypto whales buying which already entered in crypto. These Investors sell their extra coins to buy meme coins and after short profit or loss again convert it to potential coins.

Another problem with meme coins is large number of meme coins available in the market while BTC is only coin.  Currently more than 10 meme coins are most famous including Pepe,Floki,Lunc(now acting as a meme coin) , Shiba and some more. Everyone who invested in these coins are expecting his coins to pump so the total amount of fund will be distributed among many coins while btc investor will look for only one coins. Adoption also play an important rule in gaining dominance.

[rodskee]

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 ?

I don't know if you are only Shilling for Memecoins or you are not browsing the whole market
but only meme coins because if you do I don't think that you will ever have the guts asking this here

https://coinmarketcap.com/

Look how bitcoin is dominating the whole capitalization with 52% of the totality , then tell us
even if you  combined all the memecoins that exist in the market , are they enough to challenge
Bitcoin dominance?

[benalexis12]

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 ?

If I'm not mistaken, the price value of Pepe coin increased by 800% in the market, in just 1 week Pepe coin did this. So it means that if it continues, it is possible that it will surpass the price value that SHIB currently has. And I won't be surprised by that.

Also, this is another Pepe coin, it's the first time it can keep up with the upcoming bull season and halving. And I don't deny that I have holdings in this Pepe and I also have a price target to sell the pepe coin I hold and once I reach my price target I will sell it immediately because I can buy a dream house that I want and small business.

[kro55]

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.

No one can replace bitcoin's dominance, but how many people participate in this market for convenience, technology or more than 90% just for money? That's why the cryptocurrency market has existed for 14 years but every time bull season comes, memecoins are still the most mentioned name. And over the past 14 years, memecoin or altcoin has always become the focus when the bull season comes even when many people predict memecoin is dead.

But there is no denying that in the long run bitcoin will be the best and safest choice. Therefore, when it comes to crypto investment, no one is right or wrong, it depends on each person's preferences. For those who are greedy and adventurous, memecoin is the choice. But for those who don't want to take risks and choose to go slow, bitcoin is the choice.

[Upgrade00]

Even without any utility, they are performing better than bitcoin. As an investor, will you not consider returns while making a choice between which crypto to invest ? The fact that they are rising so fast in comparison to bitcoin is an indication that there is more demand for mem coins in comparison to bitcoin.

Firstly, they are not performing better than Bitcoin.
Secondly, I consider returns as an investor, but top of my list is asset security, I wouldn't comfortably hold a coin a thojt utility for years. I would only trade them over a short period of time.

Crypto world is very unpredictable. I would not be surprised if some new altcoin replaces bitcoin as the number one coin in terms of market cap in future.

They would need to last long enough to attempt that.