Are early memecoins always profitable?

[Stable090]

Memecoins always work like gambling with a rare chance of giving a return on investment because they have no use case, and devs work for their own interest;

I do see people that invest in meme coin as a gambler also, I don’t really see much difference in them. Meme coin investors are so crazy, I see no reason why someone will invest in a coin, and will be praying for luck to happen. Meme coin investment depends on luck, just pray you identify the right coin, and you buy at the right time, and sell at the right time also. When it comes to bitcoin investment, technical analysis doesn’t always work. I don’t even know how meme coins investors are making profits, because the loss is always much.

[kawetsriyanto]

If we look back in 2017, that was a year in which ICOs were in full hype and thousands of ICOs were launched in that single year with huge failure ratio. There are handful memecoins that have good market cap and survived few years (Like doge, Shiba Inu, Pepe) while majority were either scam or failed to take off after their initial launch. New memecoins are only wastage of your money and must be avoided at all costs. If you are investing in alts then better go for top 10 or 20 alts listed on CMC.    

- Doge was launched in 2013
- Shiba Inu was launched in 2020
- PEPE was launched in 2023

All the memecoins you mentioned above have nothing to do with the ICO in 2017.  

However, it is true that 2017 was the time that ICO projects was very popular. At that time, people were FOMO with ICO projects. Unfortunately, as far as I know majority of people got huge losses.

Agree. It is better to focus in accumulating the top 10 coins for investment, especially for the long term investment.

[o48o]

- Doge was launched in 2013
- Shiba Inu was launched in 2020
- PEPE was launched in 2023

All the memecoins you mentioned above have nothing to do with the ICO in 2017.  

However, it is true that 2017 was the time that ICO projects was very popular. At that time, people were FOMO with ICO projects. Unfortunately, as far as I know majority of people got huge losses.

Agree. It is better to focus in accumulating the top 10 coins for investment, especially for the long term investment.

Not to mention that successful memecoins represent 0.0000000001% of the memecoins ever launched and i am probably too generous with that statistic. They are even more rare.

But generally, when something is being overly hyped like icos in 2017, it's near ATH of that trend anyway and bad choice to pick any winners because everything is going down from there anyway. Most of them won't ever come back up, no matter if they are memecoin or not.

[Felicity_Tide]

I do see people that invest in meme coin as a gambler also, I don’t really see much difference in them. Meme coin investors are so crazy, I see no reason why someone will invest in a coin, and will be praying for luck to happen. Meme coin investment depends on luck, just pray you identify the right coin, and you buy at the right time, and sell at the right time also. When it comes to bitcoin investment, technical analysis doesn’t always work. I don’t even know how meme coins investors are making profits, because the loss is always much.

And just like a user said, buying memecoins is like buying a mystery box when you're unsure of what's going to be inside. I can't technically call them gamblers because what most of them do is a bit beyond gambler. Even in gambling, especially sport betting, there are some bets that gives you a certain level of certainty, even though luck is still involved, which is unlike memecoins where there is literally no certainty especially when buying random projects.

Mind you, it's difficult to identify what's a right project. I wouldn't eliminate the possibility, but it's nearly impossible to identify the right one because there are no 'right' memecoins on or before the day they're released/launched. What becomes of them few days/months/years after launch, is what determines whether you got your hands on the right one or not, which makes them a very risky investment option.