Avoiding Fake Memecoins Is Becoming More Difficult

[Joseph Lee]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

Lately I've been starting wonder if trading memecoins on these unregulated dexs is actually worth the risk. Yes I agree there are upsides to dex trading, but the potential negatives are also quite high. I tried a different strategy in the days building up to this latest dip and traded only cex-listed memecoins. I did this on different cex platforms and all seemed to go smoothly. Even the fees didn't give as much problem as I thought they would. I'm now wondering if this is the way to go frm here.
What do you think?

[MrSpasybo]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

What do you think?

Memecoins have brought significant profits to some, but I generally avoid investing in new memecoins. New memecoins are being created every hour, they are airdropped to user addresses, they are listed on DEXs, but that's not enough for me to feel safe. It would be better if they were listed on reputable CEXs like Binance or GateIO. People who rush to invest in new memecoins face extremely high risks as they may disappear forever and become a scam project. We've had thousands of projects like that!

Understand actions when participating in the memecoin trend: are we investing or are we looking for luck? How much money are we willing to lose if these memecoins fail and disappear? I strongly advise new investors to stay away from new memecoins, if we like memecoins, DOGE and SHIB are the best options.

[gunhell16]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

What do you think?

Memecoins have brought significant profits to some, but I generally avoid investing in new memecoins. New memecoins are being created every hour, they are airdropped to user addresses, they are listed on DEXs, but that's not enough for me to feel safe. It would be better if they were listed on reputable CEXs like Binance or GateIO. People who rush to invest in new memecoins face extremely high risks as they may disappear forever and become a scam project. We've had thousands of projects like that!

Understand actions when participating in the memecoin trend: are we investing or are we looking for luck? How much money are we willing to lose if these memecoins fail and disappear? I strongly advise new investors to stay away from new memecoins, if we like memecoins, DOGE and SHIB are the best options.

These past few months, a lot of people have really made huge profits in meme coins, just like what happened in Bome. In just 3 days, the price of the coin increased so much in the market that it was suddenly listed on the top exchanges.

Because it immediately raised a large volume of market capital, but still, as you mentioned, 99% is only 1% there in meme coins. It's quite a high-risk potential, to be honest. That's why we really need extra caution as investors or meme coin hunters.

[Fivestar4everMVP]

Well, to be honest, alot of lucky champs have made unimaginable profits from trading new meme coins on DEX exchanges, while we can not also deny the fact that alot of unlucky persons have also lost significant amount of money too.
As unfortunate as it may seem, I happen to be among those who have traded new meme coins on DEX and have lost quite a large sum of money, both my coinbase wallet for base tokens, phantom wallet for solana tokens are both filled with shit meme coins that have been rugged by their developers and no way to sell them.

Right now, I've resolved to not trade DEX only based meme coins anymore, as the risk to me seems like its no longer worth the potential to profit, it's almost like a gamble one can never win, so instead of wasting money there, I did rather find meme coins that are entering centralized exchanges and invest in them early.

With the bull run coming, there is alot of profit to be made from the crypto market, makes no sense to lose money to unserious developers who create tokens simply as a way to reap from others hard earned money.

[Macjaja24]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

What do you think?

Memecoins have brought significant profits to some, but I generally avoid investing in new memecoins. New memecoins are being created every hour, they are airdropped to user addresses, they are listed on DEXs, but that's not enough for me to feel safe. It would be better if they were listed on reputable CEXs like Binance or GateIO. People who rush to invest in new memecoins face extremely high risks as they may disappear forever and become a scam project. We've had thousands of projects like that!

Understand actions when participating in the memecoin trend: are we investing or are we looking for luck? How much money are we willing to lose if these memecoins fail and disappear? I strongly advise new investors to stay away from new memecoins, if we like memecoins, DOGE and SHIB are the best options.

I can’t invest in new meme coins tbh and you are right about that , Shib , Pepe or Doge are good options to those willing to risk it.. and aside gate and binance , personally I think bitget exchange is another reputable one too.. have most of my bags there.

[AvatarSiri]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

What do you think?

Memecoins have brought significant profits to some, but I generally avoid investing in new memecoins. New memecoins are being created every hour, they are airdropped to user addresses, they are listed on DEXs, but that's not enough for me to feel safe. It would be better if they were listed on reputable CEXs like Binance or GateIO. People who rush to invest in new memecoins face extremely high risks as they may disappear forever and become a scam project. We've had thousands of projects like that!

Understand actions when participating in the memecoin trend: are we investing or are we looking for luck? How much money are we willing to lose if these memecoins fail and disappear? I strongly advise new investors to stay away from new memecoins, if we like memecoins, DOGE and SHIB are the best options.

I can’t invest in new meme coins tbh and you are right about that , Shib , Pepe or Doge are good options to those willing to risk it.. and aside gate and binance , personally I think bitget exchange is another reputable one too.. have most of my bags there.

New memecoins are risky, but if you DYOR on the team etc, you' might get lucky. For the platform you mentioned, yeah I agree. They've got a knack of listing good meme/altcoins early before they hit mainstream...

[robelneo]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

I avoid meme coins in my portfolio because they are pump-and-dump coins and so many meme coins end up dead before they get into the market, I consider these meme coins as quicksands, the more you invest in meme coins the more you want to hold meme coins because they promised huge profit, but you ended up losing huge money.

Go for coins with contributions to the community, because these are the kinds of projects that will surely last and have a good potential in the market.

[$crypto$]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

I avoid meme coins in my portfolio because they are pump-and-dump coins and so many meme coins end up dead before they get into the market, I consider these meme coins as quicksands, the more you invest in meme coins the more you want to hold meme coins because they promised huge profit, but you ended up losing huge money.

Go for coins with contributions to the community, because these are the kinds of projects that will surely last and have a good potential in the market.

It is very difficult to find a meme coin that really can lead us to profit, the article there are so many meme coins, and if I compare maybe 1000/1 coins memes that will bring profits, even the ratio is greater than that.

If you want to invest in the meme coin then do not have to use all our money, we can use only a small portion of our money and also we must be prepared with the losses we will get, or in other words consider the money as money lost.

[LogitechMouse]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

Scammers are where the most of the attention are, and right now, it's the meme coins that are getting the most attention... or not anymore because I'm not hearing any new meme coin projects that are becoming popular anymore.

Fake meme coins created by these scammers will increase because: 1. It's where most of the attention of the investors are and 2. The bull run is incoming therefore, they will take the opportunity to scam newbie investors. You know what's the best thing that you can do to prevent these fake meme coins? Don't invest in meme coins at all. That's a very simple thing to do but unfortunately, some investors can't do it because of the mindset that they might lose the opportunity to make more money if they will not invest into meme coins. They aren't thinking about the risks that is involved in it.

Avoid fake meme coins by don't investing in meme coins at all. I mean there are many other coins out there that's better to invest your money with. Avoiding these fake meme coins isn't difficult. It's just our mindset towards it that makes us difficult.

[JISAN]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

What do you think?

Memecoins have brought significant profits to some, but I generally avoid investing in new memecoins. New memecoins are being created every hour, they are airdropped to user addresses, they are listed on DEXs, but that's not enough for me to feel safe. It would be better if they were listed on reputable CEXs like Binance or GateIO. People who rush to invest in new memecoins face extremely high risks as they may disappear forever and become a scam project. We've had thousands of projects like that!

Understand actions when participating in the memecoin trend: are we investing or are we looking for luck? How much money are we willing to lose if these memecoins fail and disappear? I strongly advise new investors to stay away from new memecoins, if we like memecoins, DOGE and SHIB are the best options.

I can’t invest in new meme coins tbh and you are right about that , Shib , Pepe or Doge are good options to those willing to risk it.. and aside gate and binance , personally I think bitget exchange is another reputable one too.. have most of my bags there.

Avoiding fake meme coins is possible only by not investing in new meme coins. apart from Doge and Shiba Inu, other meme coins should be invested in, although investing in them is too risky, so I personally don't invest in any meme coins. meme coin has no purpose it lives in the market by hype and people invest in it for fun so seriously don't invest high amount in meme coin

[Stompix]

How do you define a fake meme coin and what is a true meme coin?

All meme coins are based on memes, that's their whole reason for existence, so as long as they do that, they are real, you can't have a fake coin created on this, it goes against the logic. Meme coins are not some copyrighted material, they are actually doing the copy without permission, there is no way to separate them from real or not real, as I gets absurd.

Let's say I start a meme coin based on some funny picture I see on the net, does that automatically make my one "true" and anyone doing the same "fake"?

[kulkhan]

Yes avoid fake meme coin is so tuff. Which will good and which will fake this selection is very tuff. We saw many fake meme coin come in this cryptocurrency market and they gate lost within short time.

So i trade and hold Some meme xoin which already established in cryptocurrency market like, Doge coin, Shiba coin and Pepe coin. I invested this three meme coin. And i am huge profited form this meme coin. And i think this three meme coin is not fake. They already trusted in cryptocurrency market.

[UNIVERSE]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

That really is an extraordinary increase. In fact, it seems like we can find meme coins every day, meaning new meme coins. And they are meme coins which have definitely been hyped or are currently hyped. Just imagine, even now, there are many meme coins that are quite successful and are in the top 100. Many, so we really understand the dilemma of the existence of these meme coins. These are just a few meme coins that might be worth it, but most of them are pretty shit.
https://coinmarketcap.com/view/memes/

[bitterguy28]

Attention on memecoins has increased exponentially since the start of the bull market. We have also seen an increase in the number of fake memecoins and naturally, this means more people fall for scams.

Lately I've been starting wonder if trading memecoins on these unregulated dexs is actually worth the risk. Yes I agree there are upsides to dex trading, but the potential negatives are also quite high. I tried a different strategy in the days building up to this latest dip and traded only cex-listed memecoins. I did this on different cex platforms and all seemed to go smoothly. Even the fees didn't give as much problem as I thought they would. I'm now wondering if this is the way to go frm here.
What do you think?

Scammers are entering those areas where they can victimized investors and indeed that  like when ICO and IEO are booming ? there are tons of fake projects that goes with this .
and now that we are having Viral Memecoins then now scammers are here creating fake projects to fool and take investors money .
we have seen this many times so why do we need to be a victim when we already knew what is coming on us.

[Gladitorcomeback]

In general, meme coin investments are risky regardless of the platform being used for buying them, but you are right that coins and tokens listed in reputable centralized exchanges should be trusted more than the ones that are available on decentralized exchanges and the reason behind that is that centralized exchanges don't just add any token or coin but they have strict policies when it comes to listing a new cryptocurrency.

On the other side, in a decentralized exchange, a coin or a token doesn't need to have much significance to get listed, this is the reason why most meme coins are listed on decentralized exchanges first because it's easy to get listed there.