The whole crypto market's been pretty volatile lately. Most people are jumping on the meme coin train, with celebrities hawking their own tokens left and right. It's all about that quick cash grab, but have you seen how many of these memes dump once launched? People get stuck holding the bag, hard. So, the question is, could there actually be a meme coin with staying power, like the Dogecoin or Shiba Inu? And what's your advice when considering joining one?
I was going to say that dogecoin and Shiba have already proven that memecoins can indeed have a staying power, but you already mentioned that in your post.
So, to go further, with all the hype and buzz around meme coins, it's important we all understand that not all meme coins will survive in the short and long term, I would say that more than 99 percent of them will drop, most especially the celebrity meme coins that seems to be reigning now, investors should avoid celebrity meme coins since such ones lack purpose, or direction, I understand that meme coins are simply for fun, but what exactly is funny about celerity meme coin? Many of them aren't even memantic.
So, in the nutshell, even though meme coins are simply for fun, it's important we be careful which and which we choose to put our money in, for like I said before, 99 percent of them will not last, even after climbing to the top 100 in market cap.