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Cryptocurrency Trading / Re: Do not neglect fundamental analysis.
« on: Today at 08:19:47 AM »No matter how good the existing fundamental analysis techniques are, when you trade on Meme coin and applying analysis like this of course it won't have any effect, techniques like this can sometimes only be implemented in Bitcoin even though they are not completely in accordance with what we have learned.
Meme coins don't work like normal cryptocurrencies, so neither fundamental nor technical analysis works if you are applying them on a meme coin because their movements aren't regular or they don't move based on the market but they depend on community hype and they gain or lose value when they are being hyped or being abandoned by their investors.
So when someone decides to invest in a meme coin, they need to understand that they can't know its future or see whether it has potential or not by doing an analysis but they can just make a bet on it with a small amount and see whether they win or lose after some time.