How Do Memecoins Make It Despite Minimal Value?

[Mega Mind]

Not many big traders are so interested in memecoins and many would say that it is for low volume traders who keen on making it overnight, but despite all these, we see memecoins keep coming, each with its own specific focus.

While I wonder how they keep coming, a thought came to my mind when I saw the concept behind SCRAT token, which is a Half squirrel and rat themed meme coin on Solana Blockchain.

I came to the conclusion that new memecoins that are made these days leverage their creativity to attract more people. They look at trends and what resonates with users' childhood memories, family and friends and even social lifestyles and then make a token after it which I believe is a way to give them value in themselves. If not, what do you think makes them keep surfing if there is no real life use of them?

[libert19]

Memecoins are risky bet, each one of them is useless, but some have value because there is community backing that particular coin.

I invested in couple, got burned, definitely not my cup of tea. There are hundreds/thousands are being created daily, a rare one gets community backing and gives huge profit.

[pakhitheboss]

The upcoming trend is celebrity meme coins they also possess the same risk as other meme coins. It is hard to distinguish which meme coin is genuine and is backed by the community. Scammers are using meme coins to rug pull because of the hype and a lot of investors are getting burned because of such scams. The risk is high so is the profit if you want to gamble then invest in those which are already established rather trying to find a new one.

[AvatarSiri]

Memecoins are risky bet, each one of them is useless, but some have value because there is community backing that particular coin.

I invested in couple, got burned, definitely not my cup of tea. There are hundreds/thousands are being created daily, a rare one gets community backing and gives huge profit.

It's a crazy circle though.. but some memes are doing good. Scrat has good narrative. You can check out Bitget memezone for more of such. I use it instead of dex screener cos it's been vetted

[bee]

Meme tokens are basically pure bets for people who want luck. New meme tokens mean new rounds on the casino, people will place their new bets there, that's why memes will continue to exist with fans just like casinos.
After all, many people fail many times, not many call them scams, instead of bad luck.

[yhiaali3]

What you mentioned is an acceptable point of view. Yes, Memecoins benefit greatly from trends and what resonates with the childhood memories of users, their families and friends, especially those that appeared in cartoon programs for children and also from famous real-life or cartoon characters.

What makes these Memecoins continue to appear daily is the ease of creating them, the absence of any real project, and the possibility of earning a lot of money within a short period in a way that makes many greedy people who hope to get rich quick salivate.

[akeemqaz]

Memecoin community hype is often more significant than the actual usecase of the coins because I'm considering the hype surrounding SHIB, PEPE, WIF, MOTHER, and DADDY. There's also another one trending on Solana called BILLY. Memecoins can be seen as an opportunity for financial gain or loss. Success with memecoins largely depends on experience and luck in selecting a promising one. So, memecoins success is complicated and mostly depends on the hype around it.

[bitterguy28]

Not many big traders are so interested in memecoins and many would say that it is for low volume traders who keen on making it overnight, but despite all these, we see memecoins keep coming, each with its own specific focus.

as long as there is an audience to target, memecoins will continue to exist the reason why people keep on making memecoins is because they know that some people will always go and invest in it

what do you think makes them keep surfing if there is no real life use of them?

a lot of memecoins give a lot of airdrops which is what attracts investors the most the thought of basically getting free money is interesting to most and even if it does not have any actual use or guarantee of success people are still willing to try and see

[TomPluz]

Memecoins are risky bet, each one of them is useless, but some have value because there is community backing that particular coin. I invested in couple, got burned, definitely not my cup of tea. There are hundreds/thousands are being created daily, a rare one gets community backing and gives huge profit.

As for me, memecoins are supposed to be just jokes not meant to be taken seriously but because there are people who think that they can gain something out of them, some of them stayed due to the support of the community they created and seeing the success of them many are encouraged to create more and more memecoins. And so we are deluged with new memecoins almost everyday many of them just died naturally and only a very few soared into success. Here, we can see an interplay of rewards and risks and all investors should understand this scenario once investing in a memecoin. This is what we ae getting when human nature is getting into the picture: greediness! And mind you we should realize that jokes can be a big business too as we are witnessing with the billions-valued entertainment industry.

[Jating]

Regardless of what will be the trend, it is still meme coins. But yes, sometimes it will make money for early investors, but most of the time though, it's a hit or miss and you really need to be very luck as well to found the right one at the right time and then you take that big splunge and risk big money to earn big.

But you can't help it, there are early investors who are good at finding meme coins and they make good money. But it is not also for everyone, meme coins have their own community it could be underground though, so if you are not part of them, I don't think that you will find them easily and you can make a lot of money. That's why I will say that in our community here or in the other forum, they are frown upon.

[NikeFit_7777]

Memcoin creator earned $2.85 million with an investment of $552. The developer of the memcoin NEIRO in the Solana network earned $2.85 million with an investment of $552. He increased his deposit by a factor of 5169.

During the launch of the asset, he spent 3 SOLs to buy 97.5 million NEIRO. Later, he sold 68 million tokens for 15,511 SOL ($2.85) million.

P.S. People know how to make money. I am maximally surprised by this situation.

Link to post: https://x.com/lookonchain/status/1817416920351834593

[erus]

As long as many traders or investors buy the Meme coin, the Meme coin will continue to live and be marketed on various Exchanges. Its cheap value (minimal) proves that the supply of this Meme coin is very large so that it is also equated with its market cap. If the price of the Meme coin is expensive, then the Meme coin supply is certainly small, yes, the minimum supply is like Bitcoin around 21 million.

[Asiska02]

The trend now is what people are following. When they see how people introduced meme coin and make a lot from their community investment in them, they tend to follow same path but will bring a new narrative that is persuasive in order to attract new users to also find a reason to invest in them. Most of them don’t make it and are just after short term profit which if the creator of those coins have gained massively, they dump it for others and go away with the profit. Only few survive it and it’s all because of community backing and continuous engagement.

[rizqillah]

As long as many traders or investors buy the Meme coin, the Meme coin will continue to live and be marketed on various Exchanges. Its cheap value (minimal) proves that the supply of this Meme coin is very large so that it is also equated with its market cap. If the price of the Meme coin is expensive, then the Meme coin supply is certainly small, yes, the minimum supply is like Bitcoin around 21 million.

I see that there are still many people interested in meme coins, because they want big profits from their investments. But we must understand the risks in investing. Because in my opinion investing in meme coins is very risky, if one day the developer abandons it and experiences a rug pull. I prefer to invest in coins that have projects that are useful for users such as ETH, BNB, SOL, TON etc.

[TomPluz]

I see that there are still many people interested in meme coins, because they want big profits from their investments. But we must understand the risks in investing. Because in my opinion investing in meme coins is very risky, if one day the developer abandons it and experiences a rug pull. I prefer to invest in coins that have projects that are useful for users such as ETH, BNB, SOL, TON etc.

When and where money can be made and sometimes for big...you can expect people to be flocking in there as they are taking their chance to make it also to the top. Memecoins are always on the news as there are really people who got rich even with small capital...though of course many are losing their money just like gambling. With estimated 97% of the memecoins introduced to the market now dead, people are still hopeful that they can catch one that can change their financial lives. There are now saying that memecoin trend will eventually die off...but for now it is still so much alive so we might as well enjoy them as much as we can.