Why are more people getting excited about memecoins?

[MiF]

People always seem drawn to meme coins. There are so many with quirky names like Pepe, Bonk, and Meme. In 2023, a bunch of these coins hit the market and made lots of folks rich. Then in 2024, it happened again with coins like WIF, BOME, and SLRF. Now, everyone's talking about Simsol. People love meme coins because they can make you rich quick. It's kind of wild how much excitement they bring to the market. But, it's important to remember they're risky too. What's your opinion about this?

Web: https://simsol.fun/

Almost all investor knows about meme coins and the possible risk if we invest on it. But many investors also earn a big money because of investing meme coins specially when it pump during hype, that is why many people are now looking for the meme coin that has a capability of rising in the next few months or years it is too risky but if you are lucky on this type of coin you can also earn millons of profit on it.

[1714994266]

1714994266

[Nheer]

Meme coins in general gives more profit on short term investments than Bitcoin itself, but the risk involved in their investment is very big.

Anything that gives high profits in a short term will definitely carry more risk and that’s the more reason why bitcoin is portrayed to be the best investment because it’s risk is minimal and you will certainly profit from  it when you are patient. Meme coins seem to be the new trend and it’s making profits for people that’s why people are drawn to it at the moment but we all know they won’t last long and a new trend will take over from them that’s why bitcoin is the best ever.

Generally, there is too much stress involved in altcoin or meme coins investment which include doing deep research about a project before investing in it, and you also need to take a big risk to invest early so that you can benefit from the project’s first pump; meanwhile, the early investment is very risky since the project might die and you will lose all your money.

Any investment other than bitcoin be it alt coins or  meme coins are very risky and difficult to get a legitimate project that why it is very important to carry out research on them to identify legit coins. When these coins are well established the profit that can be made from it becomes less so investing early is the most wise thing to do to be able to make profit early but investing early is very risky because when the project fails you lose your money.

[Mate2237]

Almost all investor knows about meme coins and the possible risk if we invest on it. But many investors also earn a big money because of investing meme coins specially when it pump during hype, that is why many people are now looking for the meme coin that has a capability of rising in the next few months or years it is too risky but if you are lucky on this type of coin you can also earn millons of profit on it.

New investors might not know them at the beginning time and that is why they are the investors fall for the scammers memecoins and also they might not know the risks involved. And why investors like to invest in memecoins because they make quick money from them. And those who are investing in memecoins always target the new ones. As they came out or launched at the first time, they would just invest on them and wait for like few weeks or months and once the coin increases in value small, they would withdraw and take their profits.

Memecoins or altcoins are very risky. I have done it before so I now the risky involved.

[SOKO-DEKE]

Meme coins in general gives more profit on short term investments than Bitcoin itself, but the risk involved in their investment is very big.

Despite that meme coins give more profit in short-term investments than Bitcoin, I will never advise people to invest in meme coins because almost all of them are aiming of  scamming investors, and that is why meme coins hardly stay long in the market. This risk in all these meme coins is much; it is just as if someone is gambling with their money. So, if someone wants to gamble with meme coins, they should just invest a very small amount of money.

Generally, there is too much stress involved in altcoin or meme coins investment which include doing deep research about a project before investing in it, and you also need to take a big risk to invest early so that you can benefit from the project’s first pump; meanwhile, the early investment is very risky since the project might die and you will lose all your money.

From my own observations making profits from memecoins, I just view it as part of luck. When someone is not lucky, even doing their own proper research on MemeCoins can lead to scam projects. There are many projects that look so promising, but in the short term, they become dead projects. So doing your own research on MemeCoins doesn't guarantee that you will definitely make a profit there. Let's just know that memecoins are all about risk.

[redsun114]

I don't think it was 2023 where the meme coin boomed but I think it's in 2021. this still isn't the first. I started in 2017 and I remember a lot of meme coins pump too. Despite of it, I doubt if there's truly lots of people who became rich here.

When I say rich, I mean filthy rich because rich is also a definition for those who earn a couple of dollars. The only good thing about meme coins compared to other crypto trends is that they can never get out of style but I don't mean that same mean coins can only pump. So for those who still hold on the same meme coin, they need to change that habit but they rather go for old coins. If not, then they need to stay updated about the latest memes and trend not only in crypto.

[CoinMin3r]

That's because memecoins are outperforming other coins in terms of price increments giving early investors massive profit. So people get so hyped soon after seeing new memecoin expecting the same. Also one don't have to invest big amount too but if it gets going one can yell "sky is limit" seeing their super profit. Obviously every trade have risk involved but one have to take risk if he wants to win too.

[Pithaxz]

when the bull run was around four years ago, memecoin was very hyped, the developers saw the same potential for it to be repeated during the current bull run, the developers saw how the oldest memecoin was always the one that gave big profits to its holders, so that was like a signal that many Cryptocurrency lovers will also enter meme coin to make big profits again during a bull run like this

[Wiwo]

when the bull run was around four years ago, memecoin was very hyped, the developers saw the same potential for it to be repeated during the current bull run, the developers saw how the oldest memecoin was always the one that gave big profits to its holders, so that was like a signal that many Cryptocurrency lovers will also enter meme coin to make big profits again during a bull run like this

You made a good point there that the older memecoins were able to pick up with the just ended bull run because of their already established market that help them to easily pick along with the wave at that moment,  but the big deal is that most of the newer memecoin were finding it hard to fine a place in the market and before their know it the short bull movement got stopped along the way making them to fail to pick along.

This is the reasoning why .any investors thought that memecoins are not doing well in the current market since their failed to make some progress in the bull run that just ended and being the first bull market since the memecoins got their hype And market appearance.

[Ngemmeng]

In my opinion, it's best to invest in meme coins that are not yet popular and not talked about by many people because they can provide big profits. It seems like this meme coin is starting to be talked about by a lot of people and I've even heard that it has quite a large TVL. Currently, meme coins are all the hype, but we also have to be careful in investing.

[LogitechMouse]

Re: Why are more people getting excited about memecoins?

Profits. That's all.
You only think those people who are getting excited about meme coins, but the reality is that there are many losers than winners in investing into meme coins. Profits is the main reason why many people are excited to invest into it, but that desire to get more profit is also the reason why many people also lose their money investing into it.

I didn't read your post because I knew it already that it will be an indirect promotion on a particular shitcoin. Meme coins became the hype already for months and it seems like there's no stopping it especially now that many are expecting for a bull market to happen. Nevertheless, I would advise investors especially those newbie investors to avoid investing into new projects especially meme coins like this one.

[lixer]

Well since there is so many meme coins many new investors think they can earn big profits fast. There is stories we read for people to make some millions of dollars in only a short time trading the meme coins.
But the thing we do have to remember about them is important. It is a token to have for fun and for hopes we can earn big gains from them.
There is not a real use case they do serve. I do not think it is a trend but if I want big profits do not invest it all in meme coins.

You must have heard that to gain something one has to lose something, only this thought makes a person take sustenance. I know that investment in altcoins is very risky but I would say it is a good choice to invest in altcoins because many good altcoins can give you a lot of profit in a short time.

Now it depends on our own knowledge of which coin we choose and when and how much to trade because without understanding the market one cannot profit from any coin whether it is Bitcoin or any alternative coin so the first thing is to gain complete knowledge.

Once the market is mastered, the chances of loss are very less be it Bitcoin or any other coin.

[bitgolden]

Because, people do not know how to pick something else. When you look at ADA vs SOL, how could you say that you see a difference and which one will be better? And considering they are already top names, you are trying to decide between two things that will not make you huge return neither, just good market level return when the bull comes, could be quite similar to what ETH or BNB could make you as well.

So, those all look the same and you do not know what to pick. This means, what could a person who wants to make a huge risk could do? I can tell you what they could do, they would just simply end up putting their money into meme projects and that way they could make some return and we are going to make good return, it would definitely be something to care about in the end.

[DeathAngel]

It’s because they are usually very cheap to buy & in bull runs they make exponential gains. Quite often, it’s people who don’t have a lot of money, are unable to buy good amounts of Ethereum or Bitcoin so they see a cheaper alternative as a good bet to make life changing money. Memecoins make a lot of people rich but there are lots of them so it’s difficult to pick the right ones to invest in.

[ultrloa]

They are not really excited about meme coin since if they know there's no money to possibly earn for trying to risk their money for sure they would provably not showing some interest since people are only going after for money. A lot of people excited with it especially for those new release since they think being early to invest on such project can give them higher chance to gain rather than being late to invest on those tokens since they know that most likely they would lose their money.

We can see that there's a lot of guys out there hunting for newly started meme coin project since they think they are worth to gamble and this is bad since they are feeding the idea to those scam devs that there are people will take a risk and this is good opportunity for those scammers to earn some huge money out from those people.

[sotelorene]

Honestly speaking memecoins are good and they are also bad reasons because they have made some many people millionaires and at same time they have also made some people poor. People who hype and praise it are people that is actually making money there though is very risky.

[Bushdark]

Honestly speaking memecoins are good and they are also bad reasons because they have made some many people millionaires and at same time they have also made some people poor. People who hype and praise it are people that is actually making money there though is very risky.

I think people will keep being excited about meme coins because the profits normally comes huge.
There are some meme coins that could hit like 100x when launched which we might not see with other projects like that.
People are making good profits from meme projects that is why we keep seeing people going for it because they wants to earn more from it. But it is just that many people do not know that they could earn massive profits from investing in meme projects.

[btc78]

Honestly speaking memecoins are good and they are also bad reasons because they have made some many people millionaires and at same time they have also made some people poor.

Those people who became poor due to memecoins should then think what those other people must be doing for them to be making money off of memecoins. Even if you invest in rthe same coin with a millionaire, it does not mean that you will become a millionaire automatically. Investing in memecoins have risks and those rich people are doing the right things to avoid those risks and even at times take advantage of.

[Volimack]

Investing in meme coins is high risk with potentially high rewards meme coins often lack intrinsic value and are primarily driven by community enthusiasm and social media hype. That is why it is good to be careful not to invest more than you can afford to lose. Diversification and risk management are crucial allocating a portion of your portfolio to meme coins and spreading the rest to safer investments excited to meme coins will cause damage.

[AnonBitCoiner]

You must have heard that to gain something one has to lose something, only this thought makes a person take sustenance. I know that investment in altcoins is very risky but I would say it is a good choice to invest in altcoins because many good altcoins can give you a lot of profit in a short time.

Now it depends on our own knowledge of which coin we choose and when and how much to trade because without understanding the market one cannot profit from any coin whether it is Bitcoin or any alternative coin so the first thing is to gain complete knowledge.

Once the market is mastered, the chances of loss are very less be it Bitcoin or any other coin.

Sacrifices are needed for success so if someone loses some money for getting more money then it's not a loss but it's a lesson which will help him in future. All altcoins are not scam but people choose some random coins due to which they lose money and share their negative thoughts that every altcoin is a scam but actually if they choose some good altcoins then neither they will lose nor they will share their negative thoughts about altcoins.

If you don't have knowledge then no matter if you choose altcoins, Bitcoin or Ethereum you will lose therefore we should not put blame on altcoins because it's our own mistake that we are choosing the wrong altcoins due to quick profit.

[Fiasem20]

Memecoins tends to attract traders due to it's hype in the market.Many memecoins that pump in the market are no where to be found again in the crypto space.An investor that is interested in investing on memecoins due to it's bull moment should make research before investing.Most memecoins that pump might only pump one time and after the pump it might fall and never recover it price so it would be best for a memecoin investor to invest on what he/she can afford to lose,infact it's risky to invest on memecoins they are made for trading and quick profit.