What could be the reasons for Memecoins?

[Gposas]

In the crypto market, we see various calibre of assets created for reasons best known to it's project team which may likely succeed to get to the moon, gain investors trust and wide range popularity.
Some end up being unsuccessful as a result of challenges faced by the project and it's team in different ways.

But in all, we see project teams create tokens for some reasons mostly displayed on their website. But talking about memecoins.... They tend to have a single reason. And new memecoins keep storming the Crypto market.
With my little research on these memecoins, they are created just for fun and these fun tokens tend to win high trust of investors having a high marketcap with large volume.

But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

[bitterguy28]

But in all, we see project teams create tokens for some reasons mostly displayed on their website. But talking about memecoins.... They tend to have a single reason. And new memecoins keep storming the Crypto market.

the single reason is memes.

it actually started as a joke where people will create a token out of a meme probably as something to just laugh at until it started getting profits and nowadays the main reason becomes profiting from it the purpose comes first which is: to profit before they will pick a meme to center their project around

But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

i already said it’s for profit but it can also be for a community to use and create a stronger bond and a system complete even with currencies

[Bobcrypto]

From the beginning memes are created for funs, jokes, and happiness, as time goes on, they are now being launched on the markets, and the aim of making profits has surfaced. Many people on the crypto economy has now found memecoins as the fastest means to earn profit because it has attracted huge interest from investors.
Dogecoin, the first memecoin became a big attraction to big name like Elon Musk which also attracted more investors, and today, memecoins has created a lot of hype and massive trading volumes on different exchanges which can't be ignore.

[target]

I read it somewhere that altcoins are ment to take the BTC out of your hands and through you using it to buy altcoins. And memecoins also exist to take those altcoins like ETH from your hands when you buy SHIB or PEPE. 

It may not be thru but you could do the other way also like when you profit from altcoins in the bull season then you can use them to buy BTC as well.

[salad daging]

From the beginning memes are created for funs, jokes, and happiness, as time goes on, they are now being launched on the markets, and the aim of making profits has surfaced. Many people on the crypto economy has now found memecoins as the fastest means to earn profit because it has attracted huge interest from investors.
Dogecoin, the first memecoin became a big attraction to big name like Elon Musk which also attracted more investors, and today, memecoins has created a lot of hype and massive trading volumes on different exchanges which can't be ignore.

Memecoins don't have a utility, it's just for fun and the growing number of meme enthusiasts has led to a lot of memes on the market.
With shortcuts to riches do exist but most of them fail to multiply in this memecoin, just like gambling.
Memecoin is strong because of the large community, the attraction is the same, therefore memecoin will not fade because it will continue to be in demand.

[debra]

Memecoins don't have a utility, it's just for fun and the growing number of meme enthusiasts has led to a lot of memes on the market.
With shortcuts to riches do exist but most of them fail to multiply in this memecoin, just like gambling.
Memecoin is strong because of the large community, the attraction is the same, therefore memecoin will not fade because it will continue to be in demand.

Yes, meme coins usually have no utility. As long as they can hype, they will succeed in making big profits. But for the long term, this is why it is usually very difficult to happen. Yes, because there is no quality, no utility. Usually for memes, it is only used for coins on the platform, it's just that for use in others, it has not been implemented

people rely on FOMO to reap more profits, from other victims who also just follow suit like that. that's why meme coins are always risky and even the risk is very high because when it's too late to TP, then what will happen next is losing the moment to TP and in the end will actually feel a certain loss on the coin.

[SmartGold01]

As the name implies meme is always meme and nothing can be changed from it, even though it's painted and sugarcoated we should always know that it's same meme, therefore when investing on memecoin we shouldn't be carried away because of what name they gave to the project. Meme coin is designed for fun purpose just like stickers.

[Zed0X]

Nah, memecoins are not just for fun anymore. Using some dogs, cats, or other animals they could think of in the future as branding doesn't hide the fact that it's already for profit making. I doubt anyone who buys these tokens still thinks otherwise.

[kai]

.....
But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

i already said it’s for profit but it can also be for a community to use and create a stronger bond and a system complete even with currencies

It seems that's what the creators of Meme coins want because their main goal is to make a profit. Although the result may be that the price of the Meme coin they created will become a Dead Coin, the good possibility is that the Meme coin will increase in price as many people buy it from various communities.
I also noticed lately that the creators of Meme coins are now more inclined to Privacy and their identities are unknown, if I'm not mistaken, DOGE's creator is known, while Pepe, Shiba, or current Meme coins like DOGS, HMSTR are all Anonymous.This proves that they are looking for profit because their profits from the Meme coins will not be traced or known.

[KryptoBull]

In the crypto market, we see various calibre of assets created for reasons best known to it's project team which may likely succeed to get to the moon, gain investors trust and wide range popularity.
Some end up being unsuccessful as a result of challenges faced by the project and it's team in different ways.

But in all, we see project teams create tokens for some reasons mostly displayed on their website. But talking about memecoins.... They tend to have a single reason. And new memecoins keep storming the Crypto market.
With my little research on these memecoins, they are created just for fun and these fun tokens tend to win high trust of investors having a high marketcap with large volume.

But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

I’m not a huge memecoin fan, but I’m not against them either. DOGE was created as a fun experiment, but it exceeded all expectations. Its success sparked the memecoin trend, which has grown into a powerful force in crypto today.

Memecoins have their fair share of haters, but they’ve also made the crypto market more appealing and accessible to new investors. They’ve kept the market lively, even during crypto winters. Shiba Inu started as a memecoin project, but they’re now expanding into DeFi to better serve their users.

DOGE, in particular, has gained the support of Elon Musk for the X-ecosystem. It's now a legitimate payment method and has the potential for significant growth in the future.

[alltalk]

With my little research on these memecoins, they are created just for fun and these fun tokens tend to win high trust of investors having a high marketcap with large volume. But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

Fundamentally, meme coins is surely for fun only. This coin has no strong reason to last a long time but the community makes them changed. Since there are people who want to buy those meme coins, they can be tradable in the markets. Some meme coins also can last for few years and they have big market caps. However, we must be aware of the basic matter about those meme coins. They are actually for fun and have weak reason to exist. So, whatever the meme coins, they have no clear future! Be careful if we want to invest money in meme coins, especially if we are holding for years.

DYOR/DWYOR

[libert19]

But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

I haven't found any memecoin having usecase rather I feel flabbergasted each time some of those memecoins having insane prices. For example, look at POPCAT, it has price of $1.29 dollars at the moment, for what?

One thing though, I do use dogecoin for it's cheap transfers, but meme tokens that are created on any chain (Solana, TON, ETH) are epitome of uselessness.

[Gposas]

But my question is "Apart from fun, does memecoins have any other reason for it's existence"?

One thing though, I do use dogecoin for it's cheap transfers, but meme tokens that are created on any chain (Solana, TON, ETH) are epitome of uselessness.

Quite funny phrase there, I guess since comments from others express the sole purpose is just for fun...
Other than that, to be traded upon seeing it's emergence in the market and comprehending it's ability to create profits for users.
So they may not be completely useless..

Since the likes of Doge, PEPE, FLOKI etc being the top memecoins with appreciative volume and marketcap persuading users to invest on them and also leading way for traders to scalp out profits.

So I can vividly say they ain't completely useless.

[Freemind]

I suppose that when memecoins were born the initial purpose was simply that, memes, just for fun. But I think over the years we have all witnessed how they have become pure pumps and dumps. Although there are users who have made a lot of money with memecoins, especially (at least that is my opinion) focused on capturing the funds of less experienced users who are approaching cryptocurrencies for the first time with the aim of becoming millionaires in a very short time. But I think memecoins completely lost their essence when the big heavyweights came into play.

[sampoerna]

I suppose that when memecoins were born the initial purpose was simply that, memes, just for fun. But I think over the years we have all witnessed how they have become pure pumps and dumps. Although there are users who have made a lot of money with memecoins, especially (at least that is my opinion) focused on capturing the funds of less experienced users who are approaching cryptocurrencies for the first time with the aim of becoming millionaires in a very short time. But I think memecoins completely lost their essence when the big heavyweights came into play.

It makes sense, for now, the presence or creation of meme coins is not for its main purpose, namely memes for fun. but this has become a very tempting business field for some parties, especially those who are developers, influencers who get endorsements or affiliates, and several other parties who are able to profit from the pump and dump meme coins system shortly after the meme coins are listed on certain exchanges. and this happens many times, even though many people already know this, meme coins are still targeted, especially for newcomers who are potential victims of the FOMO coins.