I think this is not a bad idea. Because some people will even use news like this as a narrative that it is time for meme coins from the AVAX network to rise to the surface.Thank you for your opinion!
Because Avax, however, will have greater growth, especially after they have big partners such as asset tokenization plans related to large companies like JP Morgan. Well, that is a signal that the increase in Avax will continue. And Meme coins on the network should also have their moment in this regard.
I completely agree with you. Well, that seems like the more appropriate thing to do. Namely saving the Meme moment for the end. Because after all, meme hype if created early or in the middle will only bring disappointment from some of the unlucky community who bought at the top and sold too late.I think this is not a bad idea. Because some people will even use news like this as a narrative that it is time for meme coins from the AVAX network to rise to the surface.Thank you for your opinion!
Because Avax, however, will have greater growth, especially after they have big partners such as asset tokenization plans related to large companies like JP Morgan. Well, that is a signal that the increase in Avax will continue. And Meme coins on the network should also have their moment in this regard.
I like market analysis and information about developments in technology, in dapps, in funding, new CEX listings or new Avalanche Foundation's partnerships will be valuable to me.
I don't understand meme FOMO and it's nearly impossible to predict its impact on ecosystems. I think memes should be injected at the end of uptrend to attract more investor attention, promote token buying behavior and create a market peak in that cycle. Currently, perhaps we are only at the starting point, pumping memes right now may negatively affect the development of the entire market or at least promote short-term speculative behavior of investors.
I completely agree with you. Well, that seems like the more appropriate thing to do. Namely saving the Meme moment for the end. Because after all, meme hype if created early or in the middle will only bring disappointment from some of the unlucky community who bought at the top and sold too late.Hope Avalanche Foundation members know what they are doing and what needs to be done to meet the expectations of AVAX community. I do not know the exact budget status and spending plans of Avalanche Foundation, I just hope that Avalanche will have strong developments and support AVAX token price increase in bullrun 2024-2025. Although a bit pragmatic, I am still an investor, my goal in this market is profit ^^
So even in the rising market cycle or Bullish market, we are used to the Memecoin hype when the bullish market is almost over or even at the beginning of the bearish market. Like what happened to Shiba in the ethereum ecosystem which occurred at the beginning of the bear market. And Avax doesn't seem to be rushing into this either.
Luckily Avax Foundation hasn't done that either and it's just a plan. So I and the community don't know for sure they will include it. And yeah I hope it does get saved for the end. Because currently I prefer growth that occurs slowly like now. And it looks fundamentally healthier and stronger. Meme coins only have to be used as ammunition at the end when the community starts to quiet down and the market is not enthusiastic. So pumping it up with the passion of Meme coin back then might have helped revive the community.
This Avalanche coin provides various unique features and is able to create also the Ethereum Virtual Machine (EVM) and now reading about COQ, husky (HUSKY) and shibx (SHIBX) which at the time the article was written rose up to 25%.Man oh man, I think you misunderstood this topic. We are discussing the Avax Foundation's use of funds to buy meme coins, not the future and role of memes on Avalanche or for AVAX token.
I am sure that COQ, husky (HUSKY) and shibx (SHIBX) coins will continue to be able to survive on the Avalanche network because usually these Meme coins have a big contribution to the community on the Avalnche network.
The simple thing is that when the COQ, husky (HUSKY) and shibx (SHIBX) coins continue to be traded, there are various kinds of arbitrage on CEX and DEX then the higher the transaction fees used from the Avalanche coins used, if it continues to be consistent like this then the COQ coin , husky (HUSKY) and shibx (SHIBX) could be pioneers for other Meme coins.
https://www.coindesk.com/markets/2023/12/29/avalanche-foundation-to-purchase-meme-coins-as-part-of-culture-drive/-Man oh man, I think you misunderstood this topic. We are discussing the Avax Foundation's use of funds to buy meme coins, not the future and role of memes on Avalanche or for AVAX token.
Anyway, meme trend is inevitable and important for every ecosystem from the perspective of transaction fees and FOMO wave.Yeps, this meme coin trend is very rapidly circulating everywhere, almost all coins that have a blockchain themselves must have a token meme.
Yeps, this meme coin trend is very rapidly circulating everywhere, almost all coins that have a blockchain themselves must have a token meme.
1 Ethereum with Shiba and Pepe token
2 Binance Smart Chian with Floki Token
3 Solana with Bonk Token
4 Avalanche with Husky (https://coinmarketcap.com/currencies/husky-avax/) and COQ Inu (https://coinmarketcap.com/currencies/coq-inu/) token
And many more for example, this might be created only for silliness but when viewed in terms of development if this token meme is made to increase the interest of investors entering the main coin network.
The main coin for Husky and COQ Inu is Avalanche, so that all investors who are interested in buying it must buy the main Avalanche coin so that when trading at the dex there is ready for transaction gas costs.
On the Avalanche network, all transaction fees are burned[1].Oh my God, is it true that you said?
You can refer to detailed information from AVAX about transaction fees:On the Avalanche network, all transaction fees are burned[1].Oh my God, is it true that you said?
I don't know this before, I thought I was a transaction fee from Avalanche not burned.
Can you give an example of proof that each of the transaction fees is burned?
Sent to Wallet which are any of the burning of this Avalanche coin?
If it continues to be burned, until the maximum how many coins are from Avalanche's supply?
If it arrives at the end, the possibility of Avalanche coins can be lost from the market.
It seems that this will be a long discussion about Avalanche technology, because this Avalanche system turns out to be a lot of other etehreum virtual machine (EVM) coins. Amazing!
Haha, Sounds like the AVAX community is sleeping after having a look at the Avalance Foundation's decision to buy the meme, sounds like they are now not certain about the reliability haha Just kidding. Anyway I was expecting the good rally in AVAx but it was kind of Disaopinting experience. I 'm still holding my position on AVAX but seems like I wont hold it by judging the performance in few months through out the entire Bull Run.What a greedy investor ^^
Haha, Sounds like the AVAX community is sleeping after having a look at the Avalance Foundation's decision to buy the meme, sounds like they are now not certain about the reliability haha Just kidding. Anyway I was expecting the good rally in AVAx but it was kind of Disaopinting experience. I 'm still holding my position on AVAX but seems like I wont hold it by judging the performance in few months through out the entire Bull Run.
They know what they are doing, trust me when I said so. Take a look at what has been happening around Solana for a minute. The chain has been full of meme coins and more are still coming and a these is to revive the lifeless skeleton that FTX has done on Solana and I feel is the same plans Avalanche is trying to do in other to give rise to Avax price but it will not work because Solana is Solana and Avalanche is another name.I also thought about this and it would make more sense for the Foundation to spend money on development activities, but we can see the Foundation is still focusing on development with the goal of reaching 100k tps[1] in Q2 this year. Investing in memecoins can create a positive marketing impact, which is important for all of projects and ecosystems.
They didn't even thought of what will happen after because most of these coins that are intentionally pump, they do go down after a while. The funds they want to use to buy back these meme coins should have been added to foundation money and give to builders that are working on Avalanche chain for improvement.
This is a decision as far as I can understand, we cannot do away with the fact that memecoins contribute greatly to the development, popularity and usability of any Blockchain, I can say for sure that in this season that we are in, memecoins brings in more users and investors to a Blockchain than dapps and other high technologically backed projects, in the end, I think we can all ask ourselves, what is the essence of having really good dapps running on a Blockchain where as there are no users to use them?Memecoins are an important part of the market and every ecosystem, including Avalanche. We have heard of many memecoins on Ethereum, BNB, and Solana, but no memecoin on Avalanche has really caught on in the crypto community yet. This decision by The Avalanche Foundation aims to attract investor attention through a serious investment in memecoins. I hope memecoins will help Avalanche have more users, more Dapps, and more subchains!
For example, I personally wouldn't have had nothing to do with avalanche if not for COQ INU, a meme coin that is built and running on avalanche.
I also would never had had anything to do with Ton Blockchain is not for FISH, a memecoin that is built and running on Ton Blockchain.
So for me, after the rise of ethereum and Binance smart chain, meme coins promote a Blockchain much more than any technologically backed project, so, if avalanche foundation is deciding to invest in meme coins on their ecosystem, it's a really good and a welcomed idea.
The Avalanche Foundation selected five meme coins for its initial investment: Coq Inu, ...
I'm starting to think shiba inu growth was the worst thing that happened to altcoins and crypto in general.I don't hate SHIB because there's nothing to hate about it. It appeared and competed with DOGE, it also has a large community, it is adding DeFi and Ethereum Layer-2 solutions. For me, Shiba Inu is an interesting project, it was just a memecoin at first but it has been constantly developing because it knows it can't compete with DOGE in the memecoins sector.
Doge managed to break out of this, it has become used, and accepted, it has low fees and a secure chain with a ton of miners, these ones, no, I can't see them other than pump and dumps where you either have to time your entry and exit correctly or like gambling when you buy 100 lotteries tickets but here you buy 100 coins hoping one will do x1000.
It appeared and competed with DOGE, it also has a large community, it is adding DeFi and Ethereum Layer-2 solutions.
DOGE is still the king of memecoins, I think DOGE can totally be used like BTC at the moment with lower cost and more fun concept. The only thing I don't like is that it has a founder with clear information: Billy Markus and Jackson Palmer, this makes DOGE not really "independent" like BTC.
I don't know what to feel when something like the Avalanche Foundation starts to meddle with memes. It's just complete craziness, you know. It's definitely something that you could build upon if you do the right way but holding the right meme could be appealing to other HODLers and could have exposure as well.We were once worried about this issue and wanted the fund to be used for more clear and useful purposes, but maybe the Foundation knows what they want and what they will do. Memecoins are becoming a driving force for Solana and Ton to develop, and Avalanche does not want to miss this wave either. Memecoins can attract investors to Avalanche, the transaction fees from memecoins will be burned to increase the scarcity of AVAX tokens, in terms of marketing or tokenomics, memecoins are not necessarily a bad choice for Avalanche.
I hope they know what they are doing.
We were once worried about this issue and wanted the fund to be used for more clear and useful purposes, but maybe the Foundation knows what they want and what they will do. Memecoins are becoming a driving force for Solana and Ton to develop, and Avalanche does not want to miss this wave either. Memecoins can attract investors to Avalanche, the transaction fees from memecoins will be burned to increase the scarcity of AVAX tokens,
One slight correction here, short-term investors looking for pump-and-dump schemes!The Avalanche Foundation knows what Avalanche investors and users want and are easily attracted to, and choosing Memecoins is a wise choice.
The same short-term investors that when a newer much wow, such meme, great token, wow coin appears will dump their own token to the ground to jump on the other bandwagon and they're left with the liquidity crisis of the century which will need again real money to plug in!
Plus, what I don't like in this whole "foundation" thing is that the foundation is playing with money on the market, it purposely uses funds to raise the price, avalbs is still an American company, they are playing with fire.
As far as I know, in every parent coin there is always a Meme coin, such as from the Ethereum chain, BSC, Solana has a Meme coin but I've only just heard about Avalanche.As presented by the Avalanche Foundation, the effort to support memecoins can bring many positive values to the Avalanche ecosystem in the future, such as attracting users, increasing trading volume and popularity of Avalanche, creating a meme-culture in the ecosystem... We can consider the investment in memecoins as the cost of advertising and helping Avalanche reach potential investors in this market.
If you read from OP post, it seems that Avalanche is also good for having the goal of buying Meme coins or creating Meme coins because the Avalanche coin ecosystem also definitely needs Meme coins for entertainment. This is only my opinion,thank you.