What is the importance of meme coins?

[Taylor77]

Are meme coins something to consider or are they just scams?

[robelneo]

Are meme coins something to consider or are they just scams?

The original meme coin happens to be in the 12th spot and they have been in the market for 9 years already some meme coins are doing good, so we cannot generalize and call all of them scams, it is a project-to-project basis even though they all have the same features some meme coins are just here to take your money and leave, you can consider the meme coins that have proven their worth in the community and has a huge support from the community, and on new meme coins better dig deep on what they can offer. 

[yhiaali3]

The first meme currency was Doge Coin. This currency was just a joke at first, but it turned into a valuable coin and became very popular. It has a blockchain and its own mining algorithm. Doge flew high after Elon Musk tweeted about it.

In any case, meme coins basically have no real project. They are a commemorative symbol or icon for a famous animal or cartoon character. They have no project or real use for them, but some of them are very popular and achieve billions of dollars in sales.
Unfortunately, due to the ease of creating a meme currency, thousands of meme scams have appeared on the market.

[Crypto Library]

Are meme coins something to consider or are they just scams?

Actually, not all meme coins are scams. But I don't think it is that kind of things that should be more consideration. Because meme coins are always goes on the hype. And no one knows that what hype can be the next. I have seen lots of my friends to believe on rumors and hype and invest on meme coin on a large scale all of that circle of my friends are bearing loss.
So I think if anyone wanna try his luck on meme coin then it should be small scale because that fund can also be fully vanish at once. I have tried to invest some of my fund in the beginning time of mine , But now I have only traded on bitcoin for long-term.

[paid2]

Are meme coins something to consider or are they just scams?

It depends. Some use them as a form of cheap lottery, trying to buy them as early as possible.

If you're not pinning all your hopes on it, and you're only risking a small amount of money, it's not necessarily a bad idea.
But in my opinion it's just random, it's difficult to predict what hype or collective fad is going to happen,  a few simple things can have a big impact on them.. Sometimes a simple tweet from someone turns the price upside down, other times the #DevelopmentTeam s take off with the cash etc etc... It's up to you, but I think we must be moderate with memecoins.

[Primo1760]

Are meme coins something to consider or are they just scams?

Not all meme coins can be considered a scam because not all meme coins are scamming the market. Looking at the market, we can definitely see that there are many meme coins in the market with very good positions, in which case we cannot directly declare meme coin as a scam. But there are many lucky people who have made money from meme coin who have made a lot of money investing in meme coin I think they are very lucky because without maximum luck you can't make money investing in meme coin. However no one should try to change fortune by investing in meme coins if you try to change fortune with all meme coins you will lose a lot.

[Z-tight]

I do not recommend meme coins, i have not used nor bought any meme coins, but there is demand for it, so many of them are scam coins, but i don't think it is all of them. Meme coins are just like many other altcoins that lack use cases and people just buy them to see if they can make money through it, it is fine if that is what you want to do, but take note to invest only what you can afford to lose.

[bayu7adi]

Looking at some meme coin roadmaps, it seems like they're just aiming to gather more holders in hopes of building a stronger community base. There's no business backing it to make it more stable, it's purely reliant on community strength. Personally, I'm not a big fan of this kind of project model, as it's harder to predict for someone like me who can't assess something subjectively when it comes to money matters.

I prefer projects with real work and more focused programs (although those are hard to find in the cryptocurrency realm), but some top coins have already met the requirements for me to confidently choose the leading coins in the market. Meme coins are indeed hard to count on unless they have a strong community base.

[Cantsay]

Are meme coins something to consider or are they just scams?

Not something I`d recommend for someone who`s just getting started in crypto space and he's yet to experience any losses or does not know how to handle losses cause they are surely going to incur a lot of losses if they go into meme coin hunting.

Most of them that I`ve seen that haven`t dumped their prices were only enjoyed by those who invested in them early before they got listed and the price skyrocketed [same reason many people and delving into it], I have gotten involved in a few of them and none were successful luckily i only used a little amount to purchase them.

[Rubel007]

Are meme coins something to consider or are they just scams?

Despite the lack of use cases for meme coins, some investors have built confidence in meme coins. We know that we will always sing the praises of Doge Coin when it comes to meme coin because it is the only coin that has got reliability but we cannot ignore coins like Shib or Pepe because there are many investors and investments. Before investing in meme coin we must have a good idea about that coin. Since there has been a trend of investors investing in meme coins, some scammers may dare to cheat the investors by creating scam projects. but Projects that are already listed on Binance Exchange can be reliable. However, there are always risks in cryptocurrencies, so it is important to be careful before investing.

[Dr.Bitcoin_Strange]

I think it depends on your preference and also on how experienced you are with cryptocurrencies. Meme coins are not like Bitcoin, which has two seasons, such as the bull and bear seasons. During bull season, so many altcoins usually get pumped, but not all. If you are unlucky to invest in a meme coin that can pump during the Bitcoin bull market, then you will experience a loss on your investment. Apart from that, some meme coins usually generate huge profits for some investors, but the disadvantage is that no one can be very sure about the right coin to invest in. 

While investing in meme coins, it's wise to invest only the amount that you can afford to lose. 

[Gladitorcomeback]

Are meme coins something to consider or are they just scams?

some of the brand new memecoins popping up in the market are indeed scams, the older ones like Doge, Shib, Floki, Pepe, Bonk might not be scam. but one thing is common in all of them.
They are all worthless and not suitable for long term holding,  only use memecoin for short term trade, and earn profit then it is better to exit and leave them behind
but if you really want to gamble on a memecoin and want to try your luck holding one then buy as much as you can afford to loose. don't go all in memecoin, that is the stupidest thing someone can do in crypto.

[Aanuoluwatofunmi]

Are meme coins something to consider or are they just scams?

They are not all scam, but many are scam, you have to investigate well before making investment about them, deepens your research and know the conditions attached to having them for an investment, take the mind of bearing risk, it's one of the challenge you may face and know that it's either a win or loose game, but if you think you can't afford all these, then maintain your stay with bitcoin.

[Faisal2202]

Are meme coins something to consider or are they just scams?

To be honest, I also never thought about investing in meme coins before but until a few days ago, I also started to prefer meme coins, but only the ones which suit me best. The point is meme coins can be proved as a good investment but what I have learned is they are highly risky, you have to be very selective and have to be more accurate in your analysis.

And yeah, it is almost equals to gambling but you don't fully lose your money, as proper risk management can be used to make a profit and to minimize the loss also. I got more thoughts about investing in meme coins after knowing Avalanche foundation is investing $100 million in meme coins, and they set some rules to choose one.

And I thought I should participate and buy one meme coin at least (which I did not buy any till now) but we can use those rules for ourselves too.

[Litzki1990]

I didn't have much interest in meme coin before but seeing its extra market volume I took a small futures trade in this coin. This coin fell to the opposite high of my prediction, proving all my trading skills to be wrong, causing me to lose a substantial amount of money trading futures on this coin. It's not that I don't like this coin because I lost money in trading but like all other coins the behavior of the coin is not normal and if a trader trades in this coin he has to take high risk of money and then decide to trade.