Avoiding Fake Memecoins Is Becoming More Difficult

[Smcchamp]

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.

That's true. Memecoins are very volatile mate. So I'll suggest you use a percentage of your funds that won't hurt you if it goes sideways. What I do is I monitor bitget memezone for new memes( Reasons is I've found them to be quick in listing potentially good memes quickly. Like BOME, wif, slerf, Apu)then I use the profits gotten to DCA on utility projects like SAFE, BGB etc. That's my strategy and it's been working..

[Rubel007]

There are some investors who do not invest in those popular coins but to get more profit keep the investment in some scam projects. While some get something good from that project, most investors lose their money only after the hype ends. Those who do not invest in Doge, Shib or Pepe coins, but investing in another new meme coin to multiplies the assets, they may later regretted by their investment. I like meme coins, but I am interested in investing in all the coins listed on the binance exchange. Because I know that some other projects can lose their existence in the market, but there is there is no possibility of lose their existence because of the big volumes.