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

[Jatiluhung]

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 ?

When talking about the high increase of up to hundreds of percent that occurred in memecoins, there are actually many shitcoins that also did the same thing even though they were only just listed on Dex. But if you talk about the flow of money in and out of crypto trading, for example, after BTC goes sideways, there is always a flow of money going into altcoin projects and for example memecoins. But none of that changes and affects the dominance that Bitcoin has. it's just money flowing in from traders who have finished trading in btc. And usually they start targeting several altcoins to be used as speculation toys for them. The pumps that have occurred recently are also just an increase that will fall again quickly at any time. so be careful. I'd rather avoid all that.

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[Solokan]

Recently, meme coins have experienced a high price increase and of course this increase has made many people become fomo and in the end people are busy buying meme coins and it cannot be denied that many people are lucky to invest in meme coins, but of course there are also many people who suffered huge losses as a result of investing in meme coins.

but in my opinion bitcoin is still a more valuable asset than meme coin because bitcoin certainly has good future potential because if bitcoin didn't exist altcoin wouldn't exist and actually investing in altcoins in my opinion is full of speculation. and I feel and experience investing in altcoins is full of uncertainty but bitcoin certainly has a bright future and the current increase in bitcoin prices proves that bitcoin is a good asset.

While Altcoins have great potential, they will not rise if Bitcoin does not rise, so it is clear that the key to crypto is in Bitcoin and of course no one will be able to beat Bitcoin because Bitcoin's supply is limited and there are many other advantages that Bitcoin has.

[Minor Miner]

Recently, meme coins have experienced a high price increase and of course this increase has made many people become fomo and in the end people are busy buying meme coins and it cannot be denied that many people are lucky to invest in meme coins, but of course there are also many people who suffered huge losses as a result of investing in meme coins.

but in my opinion bitcoin is still a more valuable asset than meme coin because bitcoin certainly has good future potential because if bitcoin didn't exist altcoin wouldn't exist and actually investing in altcoins in my opinion is full of speculation. and I feel and experience investing in altcoins is full of uncertainty but bitcoin certainly has a bright future and the current increase in bitcoin prices proves that bitcoin is a good asset.

While Altcoins have great potential, they will not rise if Bitcoin does not rise, so it is clear that the key to crypto is in Bitcoin and of course no one will be able to beat Bitcoin because Bitcoin's supply is limited and there are many other advantages that Bitcoin has.

If you say that bitcoin is the best asset, the safest investment on the market then I really couldn't agree more. But investing in memes depends not only on luck but also on each person's experience and knowledge. If you pay attention, every bull season has the presence of a certain memecoin name that makes a difference. And if someone is confident about their search abilities, they can spend some time and capital on them.

I don't invest too much in memes but last year I invested a small amount in Shib and Pepe. Currently, the value of those 2 meme codes has brought me a profit of 3 to 7 times the initial capital. If this were bear season, I would definitely sell them for bitcoin but we are in bull season, I believe they will be even crazier.

You are right, they are not valuable assets like bitcoin, they are used for speculation, but speculating in them for profit and long-term reinvestment in bitcoin is not a bad idea.

[BITDV]

I don't believe with any meme coin/meme token. I don't think meme coin have ability to compete with bitcoin and other major coin.

Actually there are many coin which have good ability and sometimes offer good business ecosystem rather than meme coin but their growth and marketcap so low than meme.

It's bit unfair but that's the reality. Why some developer abandon their project or seems like not care with their coin price? (In this case coin with good ability )

[tbct_mt2]

Please interpret it in a right way.

There is only one Bitcoin in cryptocurrency market and there are many altcoins, more with years. In quantity, altcoins dominate Bitcoin but do you see a fact that Bitcoin still dominates cryptocurrency market?

It shows Bitcoin power, strength and dominance in marketcap. Developers can create many altcoins and they are more actively with creating new altcoins in bull market. In a bear market, those altcoins will die, most of them will die and you can see this fact with Bitcoin dominance increases in past bear markets.

https://coinmarketcap.com/charts/

[Questat]

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 ?

Meme coins are built for hypes which is why in terms of price increases especially during bull season, we can see them such high. However, it was not how we measured the credibility of the project as it is all about the usability of the project. Meme coins just got wild short-term but Bitcoin continuously growing slowly and consistently.

Whether you like it or not OP, we can never change the stand of people as surely they will consider Bitcoin still dominating the market even though meme coins had pumped more than Bitcoin.

[icalical]

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

I would confidently say impossible, meme coin doesn't even reach the top of Altcoins, there are a lot of Altcoin that actually usefull and offer widely benefitting use-case while meme coin doesn't have anything to offer except their hype. Their price is just relying on supportive community, no one actually needs them, they just buy it for 'fun'. How long do you think those kind of scheme would last?

[Faisal2202]

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.

Why would the investors or traders care about the market of the meme coins, they are here for profits, and once they make some why would they not sell their funds in order to book the profit in a pegged stable currency. In crypto no one cares about the project, but a few people only, mainly the ones who appreciate the use case that the platform is proposing. But in terms of Memecoins, we are getting no usecase so it eliminates this option as well. Memecoins were already going down as not only them, but all other alts as well, due to the downtrend in BTC price.

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.

You are right I also did not sold but its not that I want to hold, its just I was a little lazy and did not set any limit orders to book the profit even I knew after making new ATH BTC price will take corrections. Well, Those who sold they were planning to buy again at lower price tag and those who holded are the ones, have plans to hold for the next 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.

Thanks for your valuable review as I don't trade in meme coins, due to there nature I consider them gambling/risky trade. I am glad you made profits in memecoins, but I assume you must have bought them in when the price of BTC were around $25k-$35k Am I right?

[AVE5]

Being tempted to invest in AltCoins or the Memecoin because of its current pump is not encouraging because the Possibilities of this pump in Meme Coins is by chance probably by the speculations influences and so, it's also flexible with a very high potential to drop having you the mockery of your life.
There's no way a Memecoin can dare challenge with bitcoin, what's the Coins volatility capacity to increments of not imitating bitcoin?
I don't know about the future but for now, there's no cryptocurrencies that's promised to dare bitcoin in the main time hence bitcoins is the King of Cryptocurrencies.
Again, whosoever bitcoin Investors that is attracted to pull out and Invest on the so meme Coins is either not a good analyst to understand the potentials of cryptocurrencies and must be a greedy Investors that is ready to gamble with his assets. Esle the reputability of bitcoin can never be overshadowed by any other cryptocurrencies.

[AnonBitCoiner]

One thing to remember is that all altcoins are increasing in price when bitcoin increase and bull run gets nearer so it does not mean that Meme coins will increase so higher than it will leave behind bitcoin. It is not possible for any altcoin to challenge bitcoin dominance because their own dominance is due to bitcoin.

The upward movement of meme coins are just because of Bull run and again it will reduces to its own lower value or will loss their value forever but the value of bitcoin remains higher even after Bull season. So I don't think that any meme coin can even challenge bitcoin as without bitcoin the success of meme coins are not possible.

[umbara ardian]

Look, I get it, seeing Pepe skyrocket 400% is tempting. Who wouldn't want that kind of return? But meme coins are super volatile, meaning their value can jump or drop faster than you can say FOMO. It's like riding a roller coaster blindfolded – exciting, but maybe not the best idea for everyone.

On the other hand, Bitcoin is the OG of crypto. It's like the established brand with a proven track record. While it might not experience those crazy highs of meme coins, it's generally considered a safer bet for the long run. Think of it as gold 2.0 – a safe haven for your crypto stash.

Ultimately, the choice is yours, my friend. Just remember to do your research, understand the risks involved, and only invest what you can afford to lose. You can even mix things up like having a little bit of both in your portfolio. It's like having a diversified investment strategy – you get a taste of the excitement without putting all your eggs in one basket.

[Alana Arden]

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

Why do you think so, and where did you get this idea, OP?
    Bitcoin is a decentralized basic currency that is immutable, highly secure, market-dominant, and technologically strong, leading the cryptocurrency industry forward.
    On the other hand, memecoins are short-term, volatile, speculative altcoins, as a result of which these coins offer some short-term high positive volatility. But that doesn't mean they have any chance of overcoming Bitcoin's dominance. No meme coin will ever challenge Bitcoin's supremacy.
  We should note that BTC can never be compared to other cryptos. Bitcoin has been dominant in the past and will continue to lead the popular and top local cryptocurrencies in the near future.

[avikz]

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! Never! Memecoins are called memecoins for a reason. They have zero utility and usually a kid sitting at their home computer running from the background. That kid is most likely to pull out when the price of that coin reaches a certain level.

Bitcoin is the king because of it's global community strength. Unless some other coin can build such network, there's no way it can challenge the dominance of Bitcoin.

[Yatsan]

I highly doubt. Memecoins are indeed creating a noise recently due to massive price increase and recovery but isn't all those instances are caused by Bitcoin's new all time high market price? Basically, they just follow Bitcoin's trend which makes it impossible for memecoins to at least have its dominance in this industry. Fiest of all, it has no specific usage or utility which could sustain its market value for a long period of just like with 'established' coins in the market. Memecoin has a more volatile market price than with Bitcoin, feel free to check the price chart for yourself. There is a reason for thaf volatility and it could only be manipulation or general market trend but will not be dominance caused by memetokens itself. These tokens are also more recent than with Bitcoin and it also makes sense to say that dominance will not be achieved in a short period of time. There are many altcoins which are more acknowledged by investors than with memecoins, but no single coin have matched Bitcoin's dominance.

[btc78]

I’m not in doubt that someday bitcoin could be surpassed by another coin but just looking  at our present market, I don’t think any coin has the capacity or the potential to fight against bitcoin.

Especially meme coins wherein they were mostly created as some sort of joke. Those coins do not really have any utility which makes it harder for these coins to catch up to what bitcoin has already done,

[Y3shot]

Reliable atcoins like Ethereum can't even be compared with bitcoin talk much of meme coin . If no bitcoin i don't think their will be other cryptocurrencies.  The idea of bitcoin is the reason for other cryptocurrencies, the reason why their are other cryptocurrencies is because they are are trying to be like Bitcoin. Bitcoin remains the king of cryptocurrencies and no other cryptocurrencies can be compared to bitcoin because it remains the best in all aspects.

[Faisal2202]

japanese gov(courts) had control of more coin than US, and from just one source (mtgox bankruptcy)

A great fact you have shared while it was so obvious to us (as it was in front of us). Well, to admin I must say, the US is trying to create the same type of influence over the BTC and crypto market as China once has built. But I don't think the US will manipulate the market the way China has manipulated it (I am talking about the bans they have imposed so many times). I think US is smarter then them (no Offense) but the US is already taking advantage of the situation and a plus point that will make them a hell lot of money is via BTC spot ETFs.

This not only allows them to make money but also increases the BTC price, and thus the seizure amounts also increase. As the frankly said Japanese hold more funds then US, but still they don't have the same level of influence over the BTC market as US have. The US is always a step ahead. Even though they own %1 BTC in seizure while they are not the one with most of the BTC in holding, still made steps that have made them the next China. The point is, its don't matter how much is in seizure, the thing that matter, is in whose ownership they are!

[milewilda]

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.

This is the main question that should be put up in mind on what these memecoins do bring when it comes to utility? We do know that these are just using those L1's chain.
There's nothing been offered but we cant be able to ignore if we do talk about community driven. It  could really shoot up into those 100-1000x easily and this is why i cant blame up OP
on why he would be having these kind of thoughts in mind that it would really be able to replaced Bitcoin when it comes to dominance. lol

It would really be just that good for temporary but not for long term. We've seen SHIB for example on who far it did able to reach out but when it comes to
ranking then it cant be possible that it would be able to beat up even into those altcoins L1's out there. There's no way on kicking BTC's ass on top 1 rank.

[livingfree]

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.

This section is for Bitcoin Discussion while you've mentioned meme coins, I'd believe that this thread belongs to the Altcoin Discussion.

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

How can you be sure with that? I am not even tempted to jump into the bandwagon of meme coins with my Bitcoin.

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

Nope.

It's unlikely to happen as these meme coins are more with the hype and that's why you can see that it's always Bitcoin consistently have the most dominance in the market.

[Natalim]

Don't get it wrong OP nor get confused about the dominating power of Bitcoin in the crypto market. We don't base on the price to determine which one is dominating or top in the market but we base it on their function and role. Have we seen meme coins helping the community and giving functions? It was just the hype, nothing else but guess what, it was just in a short period because, after that, they will drop.

 - it is too far to compare meme coins to Bitcoin especially when we are talking about dominance. Let us just accept the fact that meme coins are just good during bull season while Bitcoin is good all the time.