Memecoins: Not all that glitters is gold

[aioc]

The profitability of new memes is over Investors are easily deceived because the people behind these memes are so good at making their memes a must-invest project They want you to be on FOMO so you are forced to invest, Yes there are stories of investors who made a lot of money from investing on memes but they are few compared to the number of investors who losses money from investing on memes.

You have to go back to the basic of doing credible research, like what is the usability of the platform and who are the people behind the platform, and is the project unique that its not a copy of a dead project, developers keeps recycling their project because they know investors have  short memory .

[uchegod-21]

If we come to the realization that investing in meme coins is a kind of gambling, we would not have too much problems in this industry. It is only when we don't see it as gambling that we use huge amount of money to invest in meme coins. But if we are acknowledge investing in shit coins and meme coins as a kind of gambling, we will be very mindful of the amount of money to invest. There will the statement of investing what you are able to lose come to play.

Apart from the whales, any serious someone that is investing in meme coins should not invest with huge amount of money, especially when you don't meet it in the early stage. Meme coins investment is for higher risk takers and not for everyone.

[Nwada001]

Imagine if the investor had invested in Bitcoin, no matter how deep the chart gets it will surely bounce back and there's certainty that he'll get his money back as well as some profit, but in this case his investment is gone and gone forever.

You are giving advice but wrong yourself too.  Bitcoin does NOT ensure a positive end of the story 'no matter how deep the chart gets'.  Bitcoin is not a savior, nor is it a miracle.  It may seem like it if you look onto a historical Chart, but this does not mean it is a forever loop of turning everybody Rich.  Be realistic.  Bitcoin can drop any time too.  Only because it never happened yet does not mean it is impossible.

Only those looking for fast links will view bitcoin as something they perform magic. It's true that bitcoin doesn't perform magic, as it's never an option for those who want to get rich quick.
 
But in the case share as regard the meme coin investors, the case of Bitcoin is entirely different. Here, Bitcoin provides an opportunity for the investors to recover the value of their money as long as the volume from the purchase has been sold out.
 
It's just a matter of time, but the price will definitely get there some day. What's just required is patience and time, not like the failed investment that the market might never even see anything close to its ATH, and in most cases those meme coins become valueless and can't be exchanged for anything else ever again.

[Marykeller]

Few days ago, a memecoin investor invested a whooping $1,000,000 dollars in MBAPPE coin and within an hour, his investment was brought down to $9,200 dollars when the scammer removed liquidity causing the price to plummet. Now, this is just one of many sad stories of investing in memecoins.

So, there are people who have up to $1 million in their account, and they are still looking for more; the way that seems okay for them is by investing hugely in memecoins, not in Bitcoin. That sounds funny to behold because there are investors who are looking for ways to make little or more profits from their crypto investment with the little amount they can afford to lose, not the amount that is too big to lose. And this said investor that has A million dollars to his name is aiming for more, while many investors in this crypto space are not dreaming of having or making such money to risk in Bitcoin or altcoin. What a surprising life experience we get to see, that what you are unable to get from crypto investment, someone else has it to risk on memecoins

[khiholangkang]

Meme coins are getting saturated lately because bitcoin is also experiencing a downward trend, so it is very natural that we speculate meme coins are no longer profitable due to poor market conditions and also a lot of fraud that occurs on memecoins which makes mem coins in my own eyes no longer attractive.

Unfortunately meme coins are easy to make, just relying on news shocks and pom-pom schemes will invite Fomo many meme retailers, and that is very dangerous, someone investing in memes whose liquidity is not locked will be more vulnerable to their money being taken away by their own development, not a few about and worse there is the case of squid games in the last cycle.

[Rockstarguy]

Imagine if the investor had invested in Bitcoin, no matter how deep the chart gets it will surely bounce back and there's certainty that he'll get his money back as well as some profit, but in this case his investment is gone and gone forever. My advice to newbies is that you shouldn't be carried away by memecoins because of the price swings. They are dangerous, not worth it and the risks outweigh the gains.

There is a popular saying that any thing good takes time and it's worth waiting for. The bull is around the corner, invest in Bitcoin instead and HODL.

Lack of understanding and greed will always be the reason why beginners will prefer to invest in shitcoins.  Some people believe if they should invest in shitcoins they can quickly realise profit but not knowing that most of the new project may likely crash in the crypto market.  There is good profit investing bitcoin  expecially when you buy bitcoin in the bear market and hodl it for sometime it will surely give you a better profit. Investing bitcoin is not even just about profit but Investing in an asset that is very reliable for investment.

Their is no shitcoin that increases in value overnigh, the hodling process is still applied to it and i don't know why people still feel it takes a lot of time to still make profit from Bitcoin.

[Cookdata]

Few days ago, a memecoin investor invested a whooping $1,000,000 dollars in MBAPPE coin and within an hour, his investment was brought down to $9,200 dollars when the scammer removed liquidity causing the price to plummet. Now, this is just one of many sad stories of investing in memecoins.

I have seen many clown of celebrities launched their meme token just to make free money off their fans but Mbape didn't launch that token. What was published after investigation was that Mbape Twitter account was comprised and the token was posted by the hacker and the loyal fans went straight and bought it but immediately he got access to his account, the tweet was deleted to mitigate the further losses. It was never intentional.

Imagine if the investor had invested in Bitcoin, no matter how deep the chart gets it will surely bounce back and there's certainty that he'll get his money back as well as some profit, but in this case his investment is gone and gone forever. My advice to newbies is that you shouldn't be carried away by memecoins because of the price swings. They are dangerous, not worth it and the risks outweigh the gains.

There is a popular saying that any thing good takes time and it's worth waiting for. The bull is around the corner, invest in Bitcoin instead and HODL.

People have choices and you can't force them. How many times have I cried over in this forum for people to stop buying meme coins but it seems the morr you tell them, the more they trend on memes because the trading volume says a put about how active people are buying meme coins. You can't change what people want no matter what, that's why I said it's their choice of investment.

[stadus]

Quite sad
This is why DYOR is adviced.
A reputable personality saying something doesn't necessarily mean it's true.
Pump and dump schemes are the worse but most individuals especially newbies still involve in them cause of greed.


Unfortunately even with these evidence and experiences most would still continue
Believing they would be different.
Mind you people become millionaires from it
But how many and what happened to the funds at the end.

Yes, DYOR is very essential before you decide to invest or trade first. Although it won't guarantee you from those first mistakes and losses, but it will surely guide you on how to limit your losses and will help you not to fall on unreliable meme coins.

Gone are the days where meme coins are very precious and profitable then. Right now, they may still glitter but are not attractive at all. Invest in bitcoin instead, rather than risking your money and time with meme coins.

[Tmoonz]

This person must be rich when he invested in a random memecoin. I honestly didn't even know that shittoken he invested until today. This is why many people always tell that you to make your own research about what you are going to do especially when you want to invest. After all, doing research is for your own benefit and security because if someone didn't do it then what happened to this guy is going to happen to yourself even the person who made a research also experienced although he make some research.

I must say that  irrespective of the level of research and analysis, involving in those shitcoins has zero guarantee and very unrealistic. However, the guy must be very rich to have invested such amount since investing more than what he can't afford to lose can be very problematic, by inflicting emotional devastation and a huge regret and depression, people are much eager to make quick money and some point alot are being scammed, patient they said is a virtue, while Bitcoin stand to be the best, it is always advisable that anyone who can not overcome the temptation of getting involved in any other coins other than Bitcoin should not do more than 10 percent size of his Bitcoin in to other coins.

[AirtelBuzz]

Some of you might have come across mind blowing stories of how an investor turned few dollars into millions of dollars, simply by buying memecoins such as DOGECOIN, SHIBA or PEPE when they've not really gain popularity and later sold at a big marketcap. While this may seem very tempting to some persons, the bitter truth is that these investors fail to tell their audience how many times their hands were burnt and the losses they suffer.

It's amazing how a few dollars turned into millions of dollars. Yes I have had this kind of experience because I had a teacher friend who invested in DOGECOIN. He earned several thousands of dollars from there but did not share his investment amount with us.

My advice to newbies is that you shouldn't be carried away by memecoins because of the price swings. They are dangerous, not worth it and the risks outweigh the gains.

Newbies mainly fall into this lure and invest in meme coins or shitcoins. When a meme coin or shitcoins is listed in the market at the initial stage, their price changes at a massive rate. This change makes new investors interested in investing. They then invest emotionally and eventually lose everything and sit still. Before investing they do not understand that investing in these coins is the most risky because there is no guarantee of earning money from it unless luck helps.

[LogitechMouse]

Few days ago, a memecoin investor invested a whooping $1,000,000 dollars in MBAPPE coin and within an hour, his investment was brought down to $9,200 dollars when the scammer removed liquidity causing the price to plummet. Now, this is just one of many sad stories of investing in memecoins.

Well, one of the sad stories regarding meme coins indeed. I hope that the investor is find by now because losing nearly a million dollars in just an hour is just ridiculous.

I hope that this scenario will teach those newbies that investing into new meme coins will not make you rich overnight. There's a chance, but how much? Only a few investors are becoming rich by investing into these new meme coins and most of the time, many investors are losing money investing into them. This also shows that experience and knowledge is still the key, and having a lot of money doesn't mean anything if you don't have the knowledge that you need.

DYOR like what many are saying. Many of these kind of stories will still happen in the future because... there will always be investors out there who are willing to risk their money hoping to make a lot of money. Kind of dumb and stupid idea, but it happens.

[Felicity_Tide]

The thing with most investors is that they like new projects, and don't really consider the risk attached. They feel a particular project of their choice will turn out great within a short period of time, thereby allowing them to dump the market for other investors. Sadly, it's even the project founder that made the liquidation, and left the Investor with less than 10% of what was invested. Like I keep saying, no project has SCAM written on it, which means some might be genuine, while others are not. But like you've said, it would have been better to get some Bitcoin with that amount($1M), rather than going for a meme coin that turned out to be a scam project. I hope he doesn't go out condemning cryptocurrency in general, because other crypto projects(existing and incoming) are not to be blame for this.

[Princess Leah]

Imagine if the investor had invested in Bitcoin, no matter how deep the chart gets it will surely bounce back and there's certainty that he'll get his money back as well as some profit, but in this case his investment is gone and gone forever. My advice to newbies is that you shouldn't be carried away by memecoins because of the price swings. They are dangerous, not worth it and the risks outweigh the gains.

There is a popular saying that any thing good takes time and it's worth waiting for. The bull is around the corner, invest in Bitcoin instead and HODL.

Lack of understanding and greed will always be the reason why beginners will prefer to invest in shitcoins.  Some people believe if they should invest in shitcoins they can quickly realise profit but not knowing that most of the new project may likely crash in the crypto market.  There is good profit investing bitcoin  expecially when you buy bitcoin in the bear market and hodl it for sometime it will surely give you a better profit. Investing bitcoin is not even just about profit but Investing in an asset that is very reliable for investment.

Their is no shitcoin that increases in value overnigh, the hodling process is still applied to it and i don't know why people still feel it takes a lot of time to still make profit from Bitcoin.

I agree with your statements and left for me I'll rather start my portfolio with a Cryptocurrency that I'll still gain after a dip and I also think that instead of newbies to rush into investing in some shitcoins cause of greed they should rather focus on getting more knowledge about Bitcoin and invest on it before they would  think of diversifying at their own risk on the long run.

 No matter how promising some shitcoins may look, Bitcoin still remains the best Cryptocurrency for investment, that's why most institutions and whales invest more on it compared to others, some shitcoins sometimes looks so tempting and their owners even hire influencers to hype them but a good investor would always priotise Bitcoin more than other Cryptocurrencies when it comes to investment purpose.

[libert19]

Few days ago, a memecoin investor invested a whooping $1,000,000 dollars in MBAPPE coin and within an hour, his investment was brought down to $9,200 dollars when the scammer removed liquidity causing the price to plummet. Now, this is just one of many sad stories of investing in memecoins.

We would not know if there were any hidden agendas behind this investment. Anyway, taking it to be true, investing 1M dollars into a memecoins is unwise decision.

They are dangerous, not worth it and the risks outweigh the gains.

IMO that depends on investment amount, play with memecoins with little amounts and you'll be fine, some will shine and it'll make up for little losses occured.

[Hamza2424]

IMO that depends on investment amount, play with memecoins with little amounts and you'll be fine, some will shine and it'll make up for little losses occured.

Yup! agree while diving into the meme coins to learn about portfolio diversification, you'll find many videos about different strategies that are easy to understand and execute, TBH you should acknowledge before investment that you are throwing this amount into a blind/dark water well. It can be as successful an attempt as finding water in desert and as bad as a dead end.

The diversification can help you to cover losses in the worst case and maximize the returns with lowest risks.

[Jegileman]

Some of you might have come across mind blowing stories of how an investor turned few dollars into millions of dollars, simply by buying memecoins such as DOGECOIN, SHIBA or PEPE when they've not really gain popularity and later sold at a big marketcap. While this may seem very tempting to some persons, the bitter truth is that these investors fail to tell their audience how many times their hands were burnt and the losses they suffer.

When successful people come out to address the audience on how they became rich, if they don’t always add the struggle path of it or where the whole stuff got messy for them, there’s some untruthfulness in their claim. Nothing good comes that easy and if it happens, it’s based on luck and it doesn’t come over and over again after getting it the first time.

Few days ago, a memecoin investor invested a whooping $1,000,000 dollars in MBAPPE coin and within an hour, his investment was brought down to $9,200 dollars when the scammer removed liquidity causing the price to plummet. Now, this is just one of many sad stories of investing in memecoins.

Any coin that even has to do with any influencers name or portray anything looking to any popular influencer, that should immediately be a sign of red flag to you and should be avoided by all means. It’s either the influencer wants to profit from its fans since they can convince them to invest in the project or maybe someone is portraying them and trying to profit from their fans.

Imagine if the investor had invested in Bitcoin, no matter how deep the chart gets it will surely bounce back and there's certainty that he'll get his money back as well as some profit, but in this case his investment is gone and gone forever. My advice to newbies is that you shouldn't be carried away by memecoins because of the price swings. They are dangerous, not worth it and the risks outweigh the gains.

Some of this risks are done by people who are not saturated enough about the market, don’t know how the market operates and just want to get rich overnight. It’s very sad to see people losing money in crypto to scammers, it portrays a bad name to crypto. It doesn’t even matter if it was crypto investment or not, when investing, you should do your diligence research about the project before putting your money into it.

[DudeAtWork420]

There was a topic that was created about it on scam accusation board on this forum two days before this month begins. Millions lost as Mbappé’s hacked account promotes $460M crypto scam

I think I have Mbappe to be blamed for this. People's account hack on X is very common and this celebrities know that. They should use 2FA apps or security key to protect their account. Also I have people to be blamed as they are greedy. All those meme tokens have been seen to be scam. You will see them pump it and later dump it as usual.

Hackers majorly target celebrities account as a result of their influence and followership. They know using such account could aid their nefarious act because celebrities are always listened to and whatever they do their fans would want to do same with them. This is the more reasons why they should be very much careful with their social media handles and possibly upgrade their security functions to make it difficult for hackers to access.

However, I agree to your thoughts with people being greedy. They would want to join the train without doing a proper verification to know if what they are seeing or hearing is true. The case of Mbappe scam should be an eye opener to those who are easily carried away by celebrities post for investment without doing their own research.

[DiMarxist]

Not all coins are good for investing because you might not be able to identify the right coin including new and old coins.

It’s so unfortunate the victim never had the knowledge about the outcome of the coin but, it’s best people take caution and respect their investment, There’s nothing like quick profit in crypto especially when a person is asked to deposit huge amount first before receiving profit when there’s bitcoin investment. Researching about the coin first is important but, anything associated with memecoins or new tokens has to do with luck that’s why investing at your own risk is important.

[Abu-Naim]

Some of you might have come across mind blowing stories of how an investor turned few dollars into millions of dollars, simply by buying memecoins such as DOGECOIN, SHIBA or PEPE when they've not really gain popularity and later sold at a big marketcap. While this may seem very tempting to some persons, the bitter truth is that these investors fail to tell their audience how many times their hands were burnt and the losses they suffer.

Newbies need to be very careful with trend, they usually follow trend due to FOMO and it used to lead them to losses. These investors lost newbies are looking up to are also losing money heavily in crypto investment especially in meme coins or Altcoins generally, but due to their reputations, they will only show you guys the once they made profit from and hide the other ones which is why doing research is very important before you make any decision so as to be safe.

There is a popular saying that any thing good takes time and it's worth waiting for. The bull is around the corner, invest in Bitcoin instead and HODL.

How sure are you that the Bull is around the corner?

We just have to keep investing in Bitcoin because it is only Bitcoin investment that is guaranteed of good returns, although Altcoins investment is also good but the risk is higher compared to Bitcoin.

Just invest the amount you can afford to lose.

[DubemIfedigbo001]

The investor in question is a big player in the field seeking to get his quick gains in the pump of the coin, thereby trying to influence the coin to an increased value by his  voluminous purchase of the coin. The good thing is that he's a big boy and I'm not so sure he was much affected by his loss.

According to data from Lookonchain, an anonymous investor, nicknamed “whale” for the size of their transactions, purchased Solana tokens worth 1.03 million dollars, and then exchanged them in a single transaction for meme coin MBAPPE.
Despite the initial enthusiasm, the reality of the cryptocurrency market is ruthless. Just an hour after the investment, the value of the investor’s portfolio plummeted from 1.03 million dollars to just 9,200 dollars.

https://en.cryptonomist.ch/2024/08/30/the-risk-of-meme-coins-the-million-dollar-investment-in-mbappe-that-collapsed-in-an-hour/

It only took an hour for the investment to fall to $9200, it's obvious it was a scam project actually. Finally a scammer is a scammer, removing liquidity barely after an hour of the whale's investment.

The crypto field is a field of chances, you take the right one, you gain and the wrong one would see you lose terribly. BTC is cool and an investment opportunity for those who are ready for a long term profitable investment. Pump and dump coins are always a gamble without any guarantee. I was thinking that BTC was volatile enough, but meme coins are beasts of volatility and should be approached with sheer caution.