Doge and others are not similar, just because Doge may do fine, doesn't mean that all meme projects will do fine. 99% of the memecoins are shitcoins, there is one single good one because it has been around for over ten years, and that is why it looks good, it has built a reputation and stayed top ranked for over ten years, but all the others are started to get created after Elon Musk hyped it a few years ago, you can't find any good memecoin before 2020, the only one is doge, if there were any other, it must have been down pretty low. This is why, even including shiba, I would never considering putting even one dollar in any other project aside from doge if I want to invest into a memecoin.
To be fair, I do not invest into doge since Elon situation neither, it is filled with people who have no idea what an "investment" means and they are just gambling with their money, I do not see the point of that and I think it would be a lot better to just avoid that. The reality is that we are talking about something that isn't really all that entertaining if that's the point, its literally just putting up money and hoping that it would go up in a hype when someone tweets about it, no dice for me.
Isn't that the case with every meme coin investor? Most of them have no idea about investments and they do it because they want to earn a lot of money and they think it is the shortcut for them to become rich, they don't know the actual reality of meme coins, and they don't understand the risks involved, they are greedy for money and they have heard that people are getting millions of dollars from very minimal investments in meme coins.
Such people need crypto education, they lack knowledge about the industry which is the reason why they have such a mindset, if they are schooled, told about the positives and negatives, and are informed about the risks involved, I'm pretty sure they would think twice before making investments in meme coins.
