The crypto market is experiencing a resurgence, with Bitcoin reaching 49k USD and numerous altcoins breaking free from the crypto winter's grip. Memecoins, too, have joined the recovery trend, with many new ones emerging. The memecoin craze shows no signs of slowing down, fueled by the promise of life-changing opportunities. Stories of investors striking it rich with DOGE^[1], SHIB^[2], and PEPE^[3] abound, prompting me to delve into the world of memes and memecoins.

"A meme is a piece of content (an image, video, or text) that is humorous in nature, spreads quickly across the internet, and can be remixed and transformed over time. In a more general context, it’s an idea that spreads quickly from person to person within a culture^[4]."

"Meme coins are a cryptocurrency genre loosely defined as having an exuberant online community supporting the currency's growth^[5]."

In essence, memecoins are the crypto equivalent of memes, designed to inject humor and excitement into the crypto landscape. But unlike other asset classes – forex, stocks, bonds, and commodities – memecoins exist exclusively in the crypto realm.

This unique distinction reflects the freshness and optimism of the crypto market. Participants in this space are primarily young individuals who embrace innovation and financial exploration rather than sticking to traditional assets like gold, oil, and foreign currencies. Their optimism translates into humor, giving rise to the likes of Dogecoin and ShibaInu. The meme wave is unstoppable, fueled by the boundless creativity of human humor.

I think, humor also plays a crucial role in mitigating psychological stress in the crypto market's inherent volatility. When prices experience sharp swings, investors often express their emotions through memes, poking fun at themselves and others. This self-deprecating humor helps lighten the mood and diffuse tension. Memes, in turn, give birth to new memes, and from these, new memecoins emerge.

But memecoins aren't merely vehicles for humor or lottery tickets. They also hold significant value in the broader crypto ecosystem:

• Attracting attention: Memecoins' inherent intrigue captivates the community, bringing crypto closer to potential investors.
• Accessibility: Often priced very low, memecoins are easily accessible to newcomers, lowering the barrier to entry.
• Price appeal: Their volatile nature can lead to meteoric price increases, fueling investor optimism, breaking down fear, and generating FOMO.
• Burn mechanism: Memecoins with high transaction volumes burn significant transaction fees, reducing the supply of native tokens and supporting their price.

The Avalanche Foundation's recent decision to invest in memecoins further underscores their growing importance^[6], even among those who dismiss them as mere "trash" in the market.

I love dogs and I bought DOGE in 2018 at 1 DOGE = 0.0025 USD but sold them at the beginning of 2021 when 1 DOGE = 0.1 USD. It's a pity because I couldn't hold until 1 DOGE = 0.7 to get x280 profit. Maybe I'm not destined for DOGE and memecoins 

I want to hear your opinion about memecoin in the crypto market:

• Do you support the existence of memecoin in the crypto market?
• Have you ever invested in memecoin? Which memecoin is that?
• Has your investment in memecoin brought you joy, profit or loss?

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References:
[1] Truck Driver That Made $3 Million from Dogecoin (DOGE) is Now Selling His Bags to Invest in This New Memecoin
[2] From $1,000 to $1 Million, How Shiba Inu Made People Millionaires
[3] Becoming Millionaires in 2 Weeks: How 3 Addresses Got Rich with PEPE
[4] Buffer: Meme
[5] Investopedia: Meme Coin Explained
[6] Avalanche Foundation to Purchase Meme Coins as Part of Culture Drive

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Note:

• My opinion was posted first in that topic, on Bitcointalk
• I leave the source link to avoid plagiarism accusation.
• I excluded/ included minor things from an original thread ^{if necessary}.

Sometimes I quite applaud most of the people who work in the world of meme coins. Because they really can and are capable of doing it very well. able to learn it and follow the flow of these meme coins. So many of them are successful in making huge profits from meme coins.

but of course this will not suit all of us. because this is indeed high risk and there is no guarantee that we will continue to get profits from here. So, if we don't understand how to do it well, then just stop, lest we lose our money.

Like I said in a different thread - after reading replies to my last thread I came to realise that they “Binance delisting NGN” is just being over hyped, I know I used other exchanges before I finally moved to binance and even when they still had naira I was still using some other exchanges for my trades - so why the heck did I start bothering myself with binance and naira news when of a truth it won't affect me.

Quote from: Shezcute Abbie on March 14, 2024, 11:06:45 AM

   I'm not surprised at all to know that most investors out there think of Binance as the only reputable exchange whereas there are a host of others with equally good reputation and services, but many of us no like to try new things and eventually when we wan try new things we don't make proper research.

Only a newbie trader have this mindset - they are other exchanges that are of the same league with Binance in terms of security (even more secure than it) - while some offer more features than what binance gives take bybit as an example.

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-Easier authentication process:  Unlike Binance where you need
 to wait for codes, Bitget just need your funds code to process
 your transaction.

I never knew having authentication set up in your account was a headache for some people.

For the few times I used since I didn't have to wait for any code (unless when I signed in using a different device) to arrive, all I did was use my face ID to verify my account before the coin would be released to the other party, which means the waiting for code is optional and should not be on your list.

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-No sudden price change: Na this one dey me extremely important. You see that thing happening where a merchant suddenly changes price and if you're not watchful you go sell short? E no happen for Bitget.

I have only seen this in KUCOIN, all the other exchanges I have used always make sure they notify you of price change and ask if you would like to proceed with the trade or not.

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Whichever exchange you go sha use at the end of the day, make sure say e align with your needs but most importantly open your eyes wide make your water no go pass garri as we dey try survive this government.

Whatever exchange you're using just try to be vigilant - you can be using the most reputable exchange in the world and still lose your money if you're not careful enough.

Quote from: JeydderS on March 11, 2024, 11:48:01 AM

Who could have predicted we'd be at these price levels already before the halving even kicks in? Just buckle up, because we're in for one hell of a ride!

one hell of a ride. None of us could have ever imagined that we would be seeing a new ATH before halving. All of our thoughts(before the price increase) were to see an ATH of Bitcoin after halving(as history does have it).