What's Your Take on Celebrities Backing Memecoins?

[ethereumhunter]

No, I don't follow that meme coin. That scheme can be a pump and dump scenario and if you are not be careful selecting the project, you will get the lost. Yea, people will think that is amazing to make a big profit in a short time but they don't realize that happen many times with many people lost their money. I don't think much about the meme coins backed by celebrities because I don't think those celebrities know about the project. So you need to be careful if you want to follow or join with the meme coin backed by celebrities and make sure to learn and research about the project before you decide to prevent the lost.

[dunfida]

I'm asking because I've witnessed a memecoin named MOTHER, which is backed by Iggy Azalea, go from a $100k market cap to over $100M in less than 7 days, with the potential to even hit $1B, in my opinion. That's amazing and electric if you ask me.

Did you follow this meme coin? What's your opinion on it, and do you think we'll see more memecoins backed by celebrities?

If they are paid for it and it's only marketing then they should be responsible for any loss that anyone makes just like the companies that make them lose, but if they are actually interested in it like how Elon Musk was to doge, without personal gain and just enjoying and actually liking it, then I find that to be a great thing.

You and I have the right to back a memecoin if we want to, because we are not famous there is nothing wrong with that, and there shouldn't be anything wrong with some celebrity having the same thing as well, if they are not really that much of a big deal, then we shouldn't really be worried. Only time it is not a good deal is when they are paid to promote it and then it becomes something terrible for everyone involved and should even be illegal.

Everything goes for money and these celebrities whether they are doing this for paid promotions or really that making their own coins that backed by them on which we know that one's it builds up some hype then value and recognition will increase and that's an advantage.If you are someone whose really that into meme coins then don't make yourself that easily get hyped on whatever coins you do saw in the market on which it is really just that having tons of variety on what's the current meta or trend.If there's some celebrity named tokens made out some 1000x then you would expect that there would really be tons of copy cats or follow ups on which it would really be flooding out on the market.This is why you should really be careful on where you should invest.

Somehow you can't really just that make yourself resist when it comes on investing specially if you do have some experience some moon, then it will really be moulding up that kind of approach that you will be needing to have some another shot to experience the same thing.When it comes to risks then this is something that high because majority of meme coins do turn out to be rugpull. This is why it's important that when you do deal up with meme coin then you should really know the risks involved and never have that all in kind of investment.

[Yucky]

There's no 100% guarantee that a coin will do well because a "celebrity" or someone with a large following on social media backs it up. Before you invest in any coin ensure to have done proper research, investigate the origin of the coin for yourself before giving it a try. Because if you don't and blindly buy into it, you'll be at a loss when it turns out soar.

Also, some projects can buy Twitter accounts with large followings just to hype their coins up, so don't be moved by the project's large following either.

Some of these celebrities that back a coin up are paid to advertise and when they are presented with good deals and told what to day, they go ahead and advertise. It's left for the coin owners to make it legit or scam people who trusted the project because a celebrity posted about it.

And we know most coins that invest money in ads to blow up their projects will probably want to recover their money through the community they build from their ads campaign. So let's all be careful with products we trust or invest in.

[MarbCoin]

It is just a form of very expensive advertising.

If a celeb promotes a certain shampoo, do you buy it? Or feel more confident about that brand?

[Mpamaegbu]

I've witnessed about three memetokens launched by celebrities in my country and all three of them dumped like mad. For those celebrities, scamming people that way is cruise and that's because they know (feel) they can get away with it without any serious punishment. I won't allow myself buy memes or whatsoever tokens that are supported or launched by celebrities who aren't experts in the cryptocurrency space. That's the best way for me to safeguard my little capital. I made that mistake in the past but I can't allow myself to exercise that ignorance now.

[ekotyo24]

O! Memecoins like MOTHER often attract attention because of their dramatic spike in value in a short time. This sudden success is often influenced by factors such as celebrity endorsements, social media trends, and investor speculation. However, keep in mind that investing in memecoins can be very risky and volatile. Rapid spikes in value are often followed by sharp drops, so it is important to be careful and do thorough research before getting involved. Will we see more memecoins in the future? Most likely, yes. The crypto industry is constantly evolving, and new trends emerge frequently. However, as always, it is important to evaluate risks and invest wisely.

[mdzahed134]

There's no 100% guarantee that a coin will do well because a "celebrity" or someone with a large following on social media backs it up. Before you invest in any coin ensure to have done proper research, investigate the origin of the coin for yourself before giving it a try. Because if you don't and blindly buy into it, you'll be at a loss when it turns out soar.

Right, in crypto nothing is guaranteed even we already know that about Cristiano Ronaldo NFT's, in Binance, what was happened, peoples bought CR7 NFT because of they blindly following their celebrity and end of the day they lost everything even CR7 & Binance paid penalties for this. We shouldn’t invest in any project by following our favorite celebrities advertisements.

[fullhdpixel]

I think what celebrities have done is very interesting because it reminds me of Elonmusk who made the price of Dogecoin increase extraordinarily and beyond ordinary human understanding. and I really support the actions carried out by celebrities and world-famous people. and making cryptocurrency increasingly global and increasingly known to the wider community so that more and more people join the cryptocurrency market.

What about those who lose money because of the influence of such celebrities? Sorry, but I don't support this thing. I believe celebrities shouldn't promote such things because there are people who follow these celebrities and anything they do, so if they are promoting projects that might not be good, I mean meme coins aren't real cryptocurrencies, they are tokens created on top of other blockchains based on some jokes that went viral over the internet sometime in the past or present.

Those who invest money in cryptocurrencies should make sure they don't blindly invest money in projects that are promoted by celebrities. It's true that Elon Musk had on a few occasions hyped DOGE and that caused a surge in its price, but that doesn't mean every meme coin promoted by every celebrity can have the same effect.

[mich]

Well there has been so many celebrities that did support the meme coins. In the beginning I did listen tow hat they had to say. BUt now we know they will say anything to make some money.
Some celebrities like Zack Morris, Davido, Katlyn Jenner, and Iggy Azalea. They do not know nothing about crypto. So if you listen to them and buy their tokens then it is your own fault if it is a 'rug pull'.

I totally agree.
You always should do your analysis before going in, even if the biggest boy on the market tells you to do otherwise and ball this coin.
It's essential to be responsible and stay like that.

Yes you are very correct on this. Because I do feel I was scammed and I did learn a lesson not to trust those famous celebrities that will market a project just so they can get more richer.

[Alpha Marine]

I'm glad everybody has now seen that the celebrity memecoins saga was just a way for celebrities to make money at the expense of others. Somebody came up with the brilliant idea of opening scamming others and so many celebrities used the format.

It has barely been three months and that mother token or memecoin market cap has gone from $100 million to $39 million. The daily trading column went from about $200m daily to about $7 million now.
A dip like this would have been okay for a trusted coin like bitcoin because we all know it will get back up and this would have been an opportunity for investors to buy at a lower price, but we all know this is not the case. The coin will just keep dipping and dipping till it will be technically worthless. That buzz that made it pump so much is no longer there and there is a 99% chance it's not coming again.

[DeathAngel]

My take on celebrities backing certain coins or tokens is to avoid them like the plague. These type of coins/tokens nearly always end up being rug pulls, especially ones like the Iggy Azalea or Andrew Tate recent ones. They are shilling their product to dump on you. Don’t fall for it.

[CK485]

Well there has been so many celebrities that did support the meme coins. In the beginning I did listen tow hat they had to say. BUt now we know they will say anything to make some money.
Some celebrities like Zack Morris, Davido, Katlyn Jenner, and Iggy Azalea. They do not know nothing about crypto. So if you listen to them and buy their tokens then it is your own fault if it is a 'rug pull'.

I totally agree.
You always should do your analysis before going in, even if the biggest boy on the market tells you to do otherwise and ball this coin.
It's essential to be responsible and stay like that.

Indeed, many celebritas are very influential among people who believe in them, and become a guide that they support, even though they support meme coins, but that is not to always be followed and studied, because everyone's luck is different and that is definitely what happens in the crypto market.

[fikrett]

Well there has been so many celebrities that did support the meme coins. In the beginning I did listen tow hat they had to say. BUt now we know they will say anything to make some money.
Some celebrities like Zack Morris, Davido, Katlyn Jenner, and Iggy Azalea. They do not know nothing about crypto. So if you listen to them and buy their tokens then it is your own fault if it is a 'rug pull'.

I totally agree.
You always should do your analysis before going in, even if the biggest boy on the market tells you to do otherwise and ball this coin.
It's essential to be responsible and stay like that.

Indeed, many celebritas are very influential among people who believe in them, and become a guide that they support, even though they support meme coins, but that is not to always be followed and studied, because everyone's luck is different and that is definitely what happens in the crypto market.

Or they can shill them just because they are paid to do so. Usually, that's the case, thus, their tips can't be taken without a grain of salt.

[doomloop]

Everything goes for money and these celebrities whether they are doing this for paid promotions or really that making their own coins that backed by them on which we know that one's it builds up some hype then value and recognition will increase and that's an advantage.If you are someone whose really that into meme coins then don't make yourself that easily get hyped on whatever coins you do saw in the market on which it is really just that having tons of variety on what's the current meta or trend.If there's some celebrity named tokens made out some 1000x then you would expect that there would really be tons of copy cats or follow ups on which it would really be flooding out on the market.This is why you should really be careful on where you should invest.

Somehow you can't really just that make yourself resist when it comes on investing specially if you do have some experience some moon, then it will really be moulding up that kind of approach that you will be needing to have some another shot to experience the same thing.When it comes to risks then this is something that high because majority of meme coins do turn out to be rugpull. This is why it's important that when you do deal up with meme coin then you should really know the risks involved and never have that all in kind of investment.

You could just end up long term holding stuff like bitcoin instead of trusting some celeb and investing into something silly. I know that risks with memecoins is high due to reward having a potential high return, but usually risk wins and reward is nothing, which is why I do not think that it worths it, even if a celeb supports it, I do not invest into anything meme, and I can prove that by saying I did not buy a single cent of doge or shiba or anything else when Elon kept tweeting about them.

It's clear that it is not a smart way to invest and we should avoid that as much as we can. I know that it's a tough thing to avoid when everyone keeps talking about it, but it gets easier with time to ignore them and get to do something much better.

[Hispo]

Hi everyone, I'm asking because I've witnessed a memecoin named MOTHER, which is backed by Iggy Azalea, go from a $100k market cap to over $100M in less than 7 days, with the potential to even hit $1B, in my opinion. That's amazing and electric if you ask me.

Did you follow this meme coin? What's your opinion on it, and do you think we'll see more memecoins backed by celebrities?

I did not follow this memecoin and to be honest, It is very unlikely I will follow it from now on because of this news.

My opinion on celebrities backing memecoins or cryptocurrencies in general is one needs to be very careful and skeptical when comes to getting money into an asset a celebrity is talking about, one never knows whether there are ulterior motives behind the backing of an asset, it comes to mind the classical pump and dump scheme which we all already know of.
The moment I see a celebrity talking of a coin (specially one which have a relatively low capitalization in the market) I only see from far away and do not speculate with it, it is easier to lose money than earning it when comes to those specific cases.

[Baki202]

No, I don't follow that meme coin. That scheme can be a pump and dump scenario and if you are not be careful selecting the project, you will get the lost. Yea, people will think that is amazing to make a big profit in a short time but they don't realize that happen many times with many people lost their money. I don't think much about the meme coins backed by celebrities because I don't think those celebrities know about the project. So you need to be careful if you want to follow or join with the meme coin backed by celebrities and make sure to learn and research about the project before you decide to prevent the lost.

Their are a lot of people that don't really follow memcoin because of the kind of risk associated with buying it, the moment you buy it and the project did. It succeed then your money is gone because any memcoin that is dead is dead they hardly make it alive, and that is why a lot of people are always avoiding investing in it because it is full of to much hype and the moment they have gotten people to invest the next the coin will start to dump and people will have faith that is when the coin will go silent their are a lot of them in people's wallet. The profit is part of the reasons that a lot of people want to invest in them and they will tell you that they are taking risk but risking to much in memcoin is not what I think I will do, I prefer to do futures than do memcoin, and no matter who the celebrity might be you will still fall victim of how the coin will become dust. I have seen a lot of them turn dust and they were promoted by celebrity I don't do things because of celebrity everyone is on their own.

[Issa56]

No, I don't follow that meme coin. That scheme can be a pump and dump scenario and if you are not be careful selecting the project, you will get the lost.

Most meme coins do end up being a pump and dump coin, if you invest in most of those meme coins, the teams do end up dumping it on people that invested late, only people that enter the market and leave the market at the right time do make money from meme coins and not even all coins, some of those meme coins won’t even perform well after investing in them, so the best thing is just to stay away from meme coins, there are other good coins in which we can invest our money, so I see no reason why we should be after meme coins, it’s very difficult to even get a meme coin that’s going to perform well currently.

[Churchillvv]

I see this celebrity memecoins coming up rapidly and it seems to me like it's a new trend amongst different celebrities and what I'm concerned about is the fact that they neglect what could be the consequences of their actions, because basically those coins are just a pump and dump scheme that has been ongoing for long now but the fact that they don't just promote this memes only but they now create one using their figures as the value of the coins is where has kept me wondering why would someone risk his career for some funds that will put you into trouble for life.

[alastantiger]

No, I don't follow that meme coin. That scheme can be a pump and dump scenario and if you are not be careful selecting the project, you will get the lost. Yea, people will think that is amazing to make a big profit in a short time but they don't realize that happen many times with many people lost their money. I don't think much about the meme coins backed by celebrities because I don't think those celebrities know about the project.

The celebrities don't know anything about cryptocurrency but they know that their name and brand is being used to promote a cryptocurrency that can scam the investors yet they don't do anything about it and allow the project to continue to exist. The celebrities that are part of the people scamming ignorant people with the celebrities memecoins should be charged to court and jailed because they're criminals. Celebrity shouldn't be getting involved in scams because alot of their followers will be affected by this as people follow them to do the things that has to do with them because of the love for the celebrity.

I can invest in a memecoin that's just a joke and I know it isn't being tied to some celebrity and not anyone that is claiming it has a good utility but they don't and are lying for us. Celebrity memecoins are usually pump and dump coins that don't last hence it isn't worth investing into.

[TastyChillySauce00]

celeb coin are absolutely shitty coin, they are here to cash out on people not to contribute to crypto, the reason they're here in the first place because crypto already such an interesting market with huge market cap that's maybe worth venturing into but absolutely their ultimate purpose has always been dumping their bags when liquidity suffice.

coin like $MOTHER is dumping so hard like -82% of its ATH and the other celeb coin are nowhere to be seen.
the entire celeb coin market is already cooked and we're already past that phase speaking as of now. even random meme coin is more worth it to invest than celeb coin .