What's Your Take on Celebrities Backing Memecoins?

[milewilda]

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 .

Just like most coins which are actually shit and just simply driven with hype and it's not shocking or new anymore and this is why it's really ideal that you should really be careful when it comes to investing and never make yourself that be driven with the hype or making yourself that too optimistic on which on the moment or time that you do invest then you are already thinking that you are already rich which is that kind absurd.Invest on what you can afford to lose and this is really like similar to gambling which it could neither a hit or miss kind of investment and this is why you should be wary when it comes to this aspect because too much expectations will lead into huge disappointment on the moment that your expectations haven't met.We do know that there would be having that different trend and meta.

I have some bad experiences when it comes to  meme coins on which I have been losing tons of money on investing into it because I do make myself that delusional on getting rich and this what makes me that desperate on which this would commonly where investors specially newbies will really be that experiencing it which typicàl  but on the moment that they gain experience then they would be able to handle as they go aheàd

[NewRanger]

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.

Maybe apart from the coin OP wrote above, what I noticed is the obsession of the owner after they launched the coin on the exchange is to always add their 0's whether it was initially 0.0(5)25 to 0.0(6) or even in 5 days it can be dumped to 0.0(10). Yes. They happily dump it without thinking about its users. This is some of the facts that I have seen for the past few days on some exchanges their performance specifically for meme coins.

[SOKO-DEKE]

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.

Even I, hardly follow memecoins because, to my own understanding, I view all of them as pump-and-dump projects that are in the crypto industry to scam people. There may be a few of those memecoins that have a good purpose, but the truth is that it is very difficult to find those projects. So, the better option is to just avoid memecoins because distinguishing them from gambling is all a matter of luck. Therefore, I would even suggest that if someone wants to invest in memecoins, they should invest only a very small amount of money. Don’t be too eager to make a huge profit in a short period, as it could result in losing everything we have.

All the celebrities we see advertising these projects are doing it for their own gain. They do their work and collect their money, so it is a very bad idea for anyone to follow a project blindly. Let’s always try to do our own research before investing in any project, whether it is advertised by a top celebrity or the most popular celebrity. The truth is that everyone is looking for money. In fact, I have seen memecoins created with the name of a celebrity, and even tweets about it, but the token doesn’t even stay long in the market.

[TastyChillySauce00]

I have some bad experiences when it comes to  meme coins on which I have been losing tons of money on investing into it because I do make myself that delusional on getting rich and this what makes me that desperate on which this would commonly where investors specially newbies will really be that experiencing it which typicàl  but on the moment that they gain experience then they would be able to handle as they go aheàd

most of meme coin always selling that delusion of investing few bucks and turning it into millions to the average people so that they can make profit off vulnerable people.
pretty much any newbie that are adventuring into crypto in this bullrun always touch meme coin at some point, but they will surely grow out of this phase.

now the celeb coin are just meme coin 2.0 but with shitter tokenomic where the celeb got big chunk of total supply, speaks a lot about the intention of the celeb owning such large total supply from the start.
I'd say, had the nebwie just keep sticking on BTC and do DCA instead of investing in celeb token, they'd make some money.

[bitgolden]

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.

Having some celebrities make these type of decisions do not make sense, they are not worthy enough to make our decisions when it comes to this, we should realize that its not going to be that easy and we can't make it work any other way. I feel like its going to be fine, and we can make it work somehow.

We should consider this to be something that's growing more in popularity because tokens spend a lot of money. So instead of spending money, thousands, into making some call owner richer, they just pay celebs, could be small time celeb, and give them some token with some USD as well, and can get them to shoot a video supporting it at least. That is why I think it's better that we could avoid this if we know what we are dealing with.

The coins or tokens or meme coins or whatever you call it are only created by the celebrities to make money and nothing more than that. The celebrities do not care about people to make money. If they (the celebrities) are making money while the people that bought the coin are losing money, the celebrities do not care.

Yes, there are all acting like the brand ambassadors and nothing more. But, when someone adapt a coin with the reason of that coin's quality in terms of new algorithm or any solution which provides for an existing problem then we cannot complain. Theymos's support to Grin must be a classy example for this but unfortunately Grin was not sustainable one in terms of its price due to unlimited supply.

[CoinFoxs]

Don’t trust memecoins that are backed by influencers because they all get paid just for promotion of that coin and get attention of new investors. They hired celebrities just to get investments as they have a fanbase club so don’t be fooled by such memecoins only invest in coins which are backed by a company who has physical existence in any country and have a proper plan to launch a coin.

[Orpichukwu]

Don’t trust memecoins that are backed by influencers because they all get paid just for promotion of that coin and get attention of new investors. They hired celebrities just to get investments as they have a fanbase club so don’t be fooled by such memecoins only invest in coins which are backed by a company who has physical existence in any country and have a proper plan to launch a coin.

And some of these celebrities go as far as creating their own coins, marketing or creating the hype, and after a bulk buy, market volume increase, and a possible price hike, you will see a great dump on such coins, leaving those late investors to suffer the faith of losing as the coins might never see it back to the top where they bought it.
 
Some of those memecoins that are being promoted by celebrities have nothing good that can be shown as what they are going to be doing, like the real purpose of that coin. It's wise if the investors should just focus on either letting the project be or if you must invest, take advantage of that hype, invest, and pull off when necessary, as such coins are not meant to be held for long.

[nelson4lov]

Someone shared this on CT. I simply want to reshare here for information purposes.



I didn't participate in the celebrity memecoins craze not because I think all memecoins are bullshit but those celebrity memecoins were extremely predatory and very pvp. At least 99% of them all were simply cash grabs. I wonder why people expected from buying this especially as there were no vision for the projects — no mission, just vibes and using retail as exit liquidity because every pump was followed by an even bigger dump.

[shinratensei_]

I didn't participate in the celebrity memecoins craze not because I think all memecoins are bullshit but those celebrity memecoins were extremely predatory and very pvp. At least 99% of them all were simply cash grabs. I wonder why people expected from buying this especially as there were no vision for the projects — no mission, just vibes and using retail as exit liquidity because every pump was followed by an even bigger dump.

as I've observed from twitter, there are narrative surrounding these celebs token that talks about how these celebs gonna bring adoption to crypto and build some crypto platform which I think mostly are just plain BS.
people practically just buying empty dream and lost their money big time. People need to understand that celebs aren't saint and the reason they're here in the first place because they want to make money.

if solana continue to have this useless celeb token trend, I'm sure the platform gonna get drained of money and solana will lose its place among top altcoin.

[btc78]

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?

never that I follow nor believe Shitcoins and that is why I never come to Buy any  of those .

memecoin is nothing but a Pump and Dump currency so better be careful on that .

[mdzahed134]

Don’t trust memecoins that are backed by influencers because they all get paid just for promotion of that coin and get attention of new investors. They hired celebrities just to get investments as they have a fanbase club so don’t be fooled by such memecoins only invest in coins which are backed by a company who has physical existence in any country and have a proper plan to launch a coin.

Even some celebrity officially launched their own coins and NFT's, i mentioned about it in my another post. As like Cristiano Ronaldo launched NFT's on Binance even his NFT's dead in a few months, but now who is more popular celebrity than him? Although his NFT's was not survive in long run. So it’s a big lesson who blindly following some celebrities or influencers, and they invest in their favorite celebrities projects, it’s absolutely wrong decision.