Are memecoins really important for the crypto market?

[KryptoBull]

In fact, it cannot be denied that every investment in crypto always contains risks. What is different is the level of risk and also the final result, which of course will depend on each individual in managing the risk.

Risk management is very important, one of which is choosing coins like this, coins that have high risks. Meme coins are always considered high risk coins, because their existence is always related to a hype process, and then falls very quickly. Yes, although not all meme coins are like that, because there are indeed some meme coins that have been able to survive and continue to grow in the crypto space, both in terms of development and also the market.

So, this will also depend on what meme coins we hold. If it's just a meme coin that only promotes hype without any significant progress and continues afterward, then that's it, it will end like that, but it's different from a team that wants to develop it and maintain it in the market. I think that would be much better.

Currently, of the hundreds of memecoins that have appeared in 2021, only a few stay with DOGE such as SHIB, FLOKI, DC, PEPE, they are all more trustworthy than the rest. I support the positive values of memecoins because they are also considered investments and bring opportunities to investors. There are no bad investments, only ineffective investment strategies.

At this time, many memecoins are increasing very strongly and helping many investors interested in the crypto market, I hope they are all ready for the crazy fluctuations of this market and especially memecoins.

[Aanuoluwatofunmi]

Memecoins also have their ow role played in the crypto markets, we cannot conclude that they were all as bad as what is unfit for our investments, we only have to be more extra careful in making research on which of them should we go for and how we can avoid shitcoins in them, once we have the understanding of how we can go about this, then its going to be more at convenience for us to choose the right one suitable for our investment.

[Aanuoluwatofunmi]

del

[Gurujebs]

Memecoins also have their ow role played in the crypto markets, we cannot conclude that they were all as bad as what is unfit for our investments, we only have to be more extra careful in making research on which of them should we go for and how we can avoid shitcoins in them, once we have the understanding of how we can go about this, then its going to be more at convenience for us to choose the right one suitable for our investment.

Meme coins are just like the ICO times, the reason why so many people are still staying here since there is not a reasonable trend yet. A lot of people has made big amount of money from trading  memes coins and the growth is still increasing with a lot of potential, this is to tell you that people love chasing the bags no matter what. They will always buy where is money.

I don't like them but Elon said something in about Doge yesterday in Tesla product they showcase yesterday and I was impressed when he said Doge is going to be accepted in the company in the nearest future, this is making me to believe that a company might do the same thing to Shiba and the price will skyrocketed, other meme coins will start having adoption and real case use.

[dekafee79]

Memecoins also have their ow role played in the crypto markets, we cannot conclude that they were all as bad as what is unfit for our investments, we only have to be more extra careful in making research on which of them should we go for and how we can avoid shitcoins in them, once we have the understanding of how we can go about this, then its going to be more at convenience for us to choose the right one suitable for our investment.

It's best to avoid shitcoins, because it's very dangerous, some friends also experience losses from being trapped in shitcoins. Shitcoin is going fast, hype. If we don't unite the market we will be left behind and lose money. choose to invest in safe coins.

[bayu7adi]

I want to hear your opinion about memecoin in the crypto market:

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

1 - Yes, but it doesn't support it fully. I still can't put 99% of my trust in a token with high volatility.
2 - DOGE... when the price was very cheap and that was before Elon Musk turned doge into the best meme coin at the moment
3 - The profit is small, but the thing that I most often use from the existence of meme coin is for transactions because the fees are very cheap.

[AvatarSiri]

I want to hear your opinion about memecoin in the crypto market:

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

1 - Yes, but it doesn't support it fully. I still can't put 99% of my trust in a token with high volatility.
2 - DOGE... when the price was very cheap and that was before Elon Musk turned doge into the best meme coin at the moment
3 - The profit is small, but the thing that I most often use from the existence of meme coin is for transactions because the fees are very cheap.

1. Yes memecoins makes the crypto space fun..
2. Yeah. Currently I hold wif, bome, myro etc
3. My recent purchase on Bitget, BOME did x8 from entry..

[akeemqaz]

I support the existence of memecoins in the market. I once bought some Pepe coin back then at $100. And sold at the first pump around $2 million marketcap. I made almost $900 profit.
Although, before this, I bought some Floki and I made like 100x profit before the dump.
I recently saw another one called BOME trending on CoinGecko but I felt like I've missed it already. But I'm participating in a listing event by Bitget which I saw on Twitter. Might get some free BOME with that without spending a dime. Hopefully, I'm going to see another memecoin to jump in early before the bull run comes in full force.

[AvatarSiri]

I support the existence of memecoins in the market. I once bought some Pepe coin back then at $100. And sold at the first pump around $2 million marketcap. I made almost $900 profit.
Although, before this, I bought some Floki and I made like 100x profit before the dump.
I recently saw another one called BOME trending on CoinGecko but I felt like I've missed it already. But I'm participating in a listing event by Bitget which I saw on Twitter. Might get some free BOME with that without spending a dime. Hopefully, I'm going to see another memecoin to jump in early before the bull run comes in full force.
[/quote

You may check their memezone.. lots of good memecoins are there with good liquidity and high potential

[Primo1760]

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

Yes I definitely support meme coins in the crypto market. This meme coin has given the most profit to people in the current pumping market. I haven't invested in Meme Coin pre-market yet and I haven't changed my fortune from Meme Coin. But after getting listed on the exchange I bought and invested from the exchange and from there I got success. The meme coins I have invested in are: Dogwifhat (WIF) Dogecoin, Shibainu. I may have been investing in meme coins for a long time and I did it with little success. I've definitely benefited and am glad I didn't suffer investing in meme coins.

[Aanuoluwatofunmi]

Memecoins also have their ow role played in the crypto markets, we cannot conclude that they were all as bad as what is unfit for our investments, we only have to be more extra careful in making research on which of them should we go for and how we can avoid shitcoins in them, once we have the understanding of how we can go about this, then its going to be more at convenience for us to choose the right one suitable for our investment.

It's best to avoid shitcoins, because it's very dangerous, some friends also experience losses from being trapped in shitcoins. Shitcoin is going fast, hype. If we don't unite the market we will be left behind and lose money. choose to invest in safe coins.

We must learn to know how we can filter between the good and bad altcoins in other for us not to invest our fun on shitcoins, we have various means to intensify our research in other not to fall under any of them, the funniest thing is that they don't really have to look like it before we can know they are one of such that we have to avoid, but when we know the means to how we can identify one, it will be more easier for us to know when one is coming out and we will not be a victim to such.

[debra]

It's best to avoid shitcoins, because it's very dangerous, some friends also experience losses from being trapped in shitcoins. Shitcoin is going fast, hype. If we don't unite the market we will be left behind and lose money. choose to invest in safe coins.

Shitcoins? Do you mean meme coins are shitcoins? Well, I can agree with this. If we want to avoid shitcoins, kindly avoid investing in meme coins. I think this is what you want to tell to the people. 

You're right, there are too many people who lost their money in shitcoins. The shitcoins can be from new crypto coins with weak fundamentals or with no fundamentals like meme coins. That is why we mustn't try to invest in the coins which only rely on the temporary hype like meme coins.

[therozaq]

It's best to avoid shitcoins, because it's very dangerous, some friends also experience losses from being trapped in shitcoins. Shitcoin is going fast, hype. If we don't unite the market we will be left behind and lose money. choose to invest in safe coins.

Shitcoins? Do you mean meme coins are shitcoins? Well, I can agree with this. If we want to avoid shitcoins, kindly avoid investing in meme coins. I think this is what you want to tell to the people. 

You're right, there are too many people who lost their money in shitcoins. The shitcoins can be from new crypto coins with weak fundamentals or with no fundamentals like meme coins. That is why we mustn't try to invest in the coins which only rely on the temporary hype like meme coins.

I agree with the two opinions above, meme coins are very risky, although I'm not saying they're shitcoins. but I experienced a lot of losses in meme coins, because I was trapped in high prices. This happens because of late buying and selling.

[Shezcute Abbie]

The crypto market is experiencing a resurgence, with Bitcoin reaching 49k USD and numerous altcoins breaking free from the crypto winter's grip. Memecoins, too, have joined the recovery trend, with many new ones emerging. The memecoin craze shows no signs of slowing down, fueled by the promise of life-changing opportunities. Stories of investors striking it rich with DOGE^[1], SHIB^[2], and PEPE^[3] abound, prompting me to delve into the world of memes and memecoins.

"A meme is a piece of content (an image, video, or text) that is humorous in nature, spreads quickly across the internet, and can be remixed and transformed over time. In a more general context, it’s an idea that spreads quickly from person to person within a culture^[4]."

"Meme coins are a cryptocurrency genre loosely defined as having an exuberant online community supporting the currency's growth^[5]."

In essence, memecoins are the crypto equivalent of memes, designed to inject humor and excitement into the crypto landscape. But unlike other asset classes – forex, stocks, bonds, and commodities – memecoins exist exclusively in the crypto realm.

This unique distinction reflects the freshness and optimism of the crypto market. Participants in this space are primarily young individuals who embrace innovation and financial exploration rather than sticking to traditional assets like gold, oil, and foreign currencies. Their optimism translates into humor, giving rise to the likes of Dogecoin and ShibaInu. The meme wave is unstoppable, fueled by the boundless creativity of human humor.

I think, humor also plays a crucial role in mitigating psychological stress in the crypto market's inherent volatility. When prices experience sharp swings, investors often express their emotions through memes, poking fun at themselves and others. This self-deprecating humor helps lighten the mood and diffuse tension. Memes, in turn, give birth to new memes, and from these, new memecoins emerge.

But memecoins aren't merely vehicles for humor or lottery tickets. They also hold significant value in the broader crypto ecosystem:

• Attracting attention: Memecoins' inherent intrigue captivates the community, bringing crypto closer to potential investors.
• Accessibility: Often priced very low, memecoins are easily accessible to newcomers, lowering the barrier to entry.
• Price appeal: Their volatile nature can lead to meteoric price increases, fueling investor optimism, breaking down fear, and generating FOMO.
• Burn mechanism: Memecoins with high transaction volumes burn significant transaction fees, reducing the supply of native tokens and supporting their price.

The Avalanche Foundation's recent decision to invest in memecoins further underscores their growing importance^[6], even among those who dismiss them as mere "trash" in the market.

I love dogs and I bought DOGE in 2018 at 1 DOGE = 0.0025 USD but sold them at the beginning of 2021 when 1 DOGE = 0.1 USD. It's a pity because I couldn't hold until 1 DOGE = 0.7 to get x280 profit. Maybe I'm not destined for DOGE and memecoins 

I want to hear your opinion about memecoin in the crypto market:

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

References:
[1] Truck Driver That Made $3 Million from Dogecoin (DOGE) is Now Selling His Bags to Invest in This New Memecoin
[2] From $1,000 to $1 Million, How Shiba Inu Made People Millionaires
[3] Becoming Millionaires in 2 Weeks: How 3 Addresses Got Rich with PEPE
[4] Buffer: Meme
[5] Investopedia: Meme Coin Explained
[6] Avalanche Foundation to Purchase Meme Coins as Part of Culture Drive
Note:

• My opinion was posted first in that topic, on Bitcointalk
• I leave the source link to avoid plagiarism accusation.
• I excluded/ included minor things from an original thread ^{if necessary}.

Personally, I think Memecoins are important in the crypto ecosytem and as you've rightly said, they're are showing no signs of slowing down. Matter of fact, new ones keep coming up daily.

Yes, I have invested in Memecoins and I still am.  Recently I invested in BOME, SLERF and I'm currently looking at DUKO.

[LogitechMouse]

Memecoins also have their ow role played in the crypto markets, we cannot conclude that they were all as bad as what is unfit for our investments, we only have to be more extra careful in making research on which of them should we go for and how we can avoid shitcoins in them, once we have the understanding of how we can go about this, then its going to be more at convenience for us to choose the right one suitable for our investment.

It's best to avoid shitcoins, because it's very dangerous, some friends also experience losses from being trapped in shitcoins. Shitcoin is going fast, hype. If we don't unite the market we will be left behind and lose money. choose to invest in safe coins.

Well, I don't see any reason as to why we need to invest into these shitcoins aside from the fact that many investors are hoping that they can get profit from it but in reality, their chances of losing money is higher than that of getting profit.

As much as I don't want meme coins, I still believe that there are some meme coins out there especially those at the top 100 in terms of market cap that can give profits to investors, and they are less risky than those lower market cap shitcoins out there. Those meme coins that have been there for a long time like DOGE, SHIB, FLOKI, PEPE and others are better to invest your money with if you really want to invest into meme coins.

I tried investing into a shitcoin years ago, and I don't want to do it again that's why whenever I want to invest into meme coins, I always pick the top ones, and just sell it immediately when I get profit on it. I hope that newbies will not invest into some shitcoins out there.