The Impact of Memecoins on Crypto Adoption

[bayu7adi]

Yes you are right, some projects even lose to memecoins which can surprise everyone. For example, the newest one is notcoin, which has become a hype some time ago.

I think that all this time meme coins have only relied on hype, because their goal is the highest possible gain to get big profits in a short time... we sometimes look at the CMC or on the exchange for the performance of certain coins which have experienced the most rapid increase in daily or tri-daily time frames, and those are usually filled by meme coins... but for annual or longer term time frames, coins with low volatility are superior.

[sampoerna]

Simply, the impact of meme coin on the development of the crypto industry: very high - hype projects - make crypto funnier and more popular in the world both its plus and minus sides.

what is certain is that many newcomers to the crypto world know about the crypto space of Doge coin. Like it or not, it's true. However, what is really annoying is the next part, it turns out that the effects of Doge's hype paved the way for scammers and shit projects to release various types of meme coins, and even now there is no end at all. And even because there are several new networks, there are more and more meme coins. Starting from memecoins on the Ethereum network, then to the BSC network, and now it is booming on the Solana network.

And I'm sure it will continue.

[KingsDen]

In the industry, different things contribute to the adoption of cryptocurrency and meme coins is among them. Right from the early days of meme coin, who h started with doge and Elon musk, meme coins has relied on hype, including media hype to scale itself in the industry and this wave in one way or the other blow the newbies into the cryptocurrency industry.

Another thing that has increased Crypto adoption is the Airdrops of this kind of tapping and gaming. Especially telegram kind of tapping and earning. It has brought many into the industry.

[bee]

Meme coins only invite more instant wealth seekers, this speeds up the shifting of the list of rich people because the unique way this type of coin works is that it "chooses" 1 to 100 people to be lucky among thousands of people who hope for the same thing.
Not bad either, at least they contribute to increasing the crypto market cap which does not rule out the possibility that one day it will flow to reasonable coins.

[bayu7adi]

Meme coins only invite more instant wealth seekers, this speeds up the shifting of the list of rich people because the unique way this type of coin works is that it "chooses" 1 to 100 people to be lucky among thousands of people who hope for the same thing.
Not bad either, at least they contribute to increasing the crypto market cap which does not rule out the possibility that one day it will flow to reasonable coins.

A little strange... because every person who is lucky, there must be someone who loses in the world of trading.... the inflow in the cryptocurrency space will probably increase... but in reality... someone who succeeds in selling memecoin at a high price, there are people who buy it ....for me trading is always balanced between sellers and buyers... so when someone increases the cryptocurrency market cap, there are also those who reduce it because the losses from buying meme coins are too high...

[bitterguy28]

Never put your trust in those coins no matter what their level of hype, also memecoin have not helped cryptocurrency adoption in any ways.

while it is memecoins that sometimes paint cryptocurrencies a bad image, memecoins are also the ones who attract a lot more people from different backgrounds

Many people have entered the cryptocurrency space because of memecoins. With their simple concept, they successfully attract many users to the crypto space.

since memecoins came from memes, the youngsters who use the meme in question may encounter memecoins and that will be their introduction to the world of crypto

personally ive seen many people find out crypto through p2e games which offer memecoins for profit

[ajiz138]

Yes you are right, some projects even lose to memecoins which can surprise everyone. For example, the newest one is notcoin, which has become a hype some time ago.

But it's not just about losing or not. The reason is that again the risk of investing in memecoin is greater, even though several other projects are also at great risk, especially if they are new projects. There is one choice, if we don't want to take risks then we should only invest in coins that we trust.

I admit that NOTcoin was very strong in holding the price from the sales that occurred after the airdrop but the price remained stable because it gained the trust of the community, and also there used to be a token with the ticker DEGEN which was almost 90% of the supply for the community but now it is not strong and the price has to go down.

Well, as I said before, even though at the beginning they can be very strong when facing massive dumping from the airdrop they run, in the end they will decline too because many are abandoned. One reason is that their hype has run out.

There are many coins like that, so on that basis we, especially I say that meme coins are very risky for us to hold in the long term. We should be able to see what happened to meme coins in the past.