Memecoins: fun, yet fiercely volatile!

[Mr. Magkaisa]

       -      There are so many meme coins that are currently circulating, so there are also many who are falling victim to meme coin scams because fake developers or devs who are scammers are also circulating. There are so many meme coin makers on moonshot and pumpfun.

Because this is the place they are most of the time, there are also many crypto communities that are participating in small capital that they will suddenly get rich
when they gamble and also rely on luck so it is not surprising that many of them are really falling victim to this mindset of the majority.

[vegasus]

It's fun how Memes works—any token can be created around a narrative, and with the right marketing, it can explode.though it also has downside rug pulls  but that's the game

speaking of meme narrative I just came across an interesting meme coin called JAILSTONE—it was actually made to mock Dave Portnoy for his pump-and-dump habits. After a joke about potential legal troubles related to alleged market manipulation, he ended up buying JAILSTONE and even promoting it. As a result, the project skyrocketed to around a $200M market cap at its peak.

What’s the most interesting meme coin narrative you’ve ever heard?

Yes, from the beginning, meme coins were developed just for fun, and finally became a very promising profit. And now, we often feel very funny and surprised by the development of meme coins. It's just that, what else can we do. There are many factors that make meme projects always appear. And in an instant, there are many meme coin projects that are very successful, have managed to get hype and finally succeed after being listed on a platform. And all of that brings a very significant increase in price. But, it's not finished yet, I'll tell you all about the very promising stage, it's just that it all carries a very high risk. Because often many newcomers are trapped in this new meme coin series, and this makes them lose a lot of money. Yes, because they only judge from the hype. In fact, developer projects can easily make it seem as if their projects are really successful, creating hype, and so on so that more and more investors can come in.

[robelneo]

It's fun how Memes works—any token can be created around a narrative, and with the right marketing, it can explode.though it also has downside rug pulls  but that's the game

Which is why people should understand the risks. People are attracted to profit but they do not consider that these memes are manipulated projects by whales and its developers so if you do not understand do not know how to play this game you are likely going to lose, so many memes are engaged in rug pull, so you have to do a deep research before participating.

[ajiz138]

It's fun how Memes works—any token can be created around a narrative, and with the right marketing, it can explode.though it also has downside rug pulls  but that's the game

Which is why people should understand the risks. People are attracted to profit but they do not consider that these memes are manipulated projects by whales and its developers so if you do not understand do not know how to play this game you are likely going to lose, so many memes are engaged in rug pull, so you have to do a deep research before participating.

For me memecoin is like gambling, why do I say that? because there is nothing that makes us analyze, because from the beginning memecoin was created based on a narrative like you said, without any purpose and so on.

But of course it's fun if we can find the right memecoin, because it can give us a very big profit. But the problem is that memecoin is rarely like that.

[Bobcrypto]

...they are fun but they are not exactly interesting like i have seen memecoins inspired from animals which may be cute but not really mind boggling or compelling.

Many memecoins are inspired by animals and indeed they can be fun, cute and even profitable if one is able to enter at the right time and parachute out before the spaceship is grounded. One thing for sure, animal-based memecoins are just taking advantage of trends and when the power of those trends are out they will mostly struggle to maintain their momentum hence will lose value when the realities of the market set in. In other words, one must be as fast as lightning here, otherwise one will end up with valueless assets. I am hoping that soon memecoins can be able to offer not just cuteness but also solid use-cases so they can last into the long-term.

Just like the name sound, meme coins will remain a meme coins in what ways we may want to paint it, they remain meme, created for fun. There is a different between meme coins and utility token. The user case that surround the utility tokens make it different from meme coins, in facts, meme coin are created for excitement and happiness.
As long as meme coins continues to be created, they will not migrate to utility token, however they have made great impact on the crypto community despite the various scammers activities on the space. Hopefully, meme coins will keep bringing fun to the crypto community especially the genuine memes.

[bitterguy28]

Just like the name sound, meme coins will remain a meme coins in what ways we may want to paint it, they remain meme, created for fun. There is a different between meme coins and utility token. The user case that surround the utility tokens make it different from meme coins, in facts, meme coin are created for excitement and happiness.

but if memecoins remain to be created just out of memes, they will not really progress and the community will be stagnant and over time maybe no one will be as interested anymore i feel like after some good years the process of pump and dump could be tedious for some and may make them lose interest over these memecoins

As long as meme coins continues to be created, they will not migrate to utility token, however they have made great impact on the crypto community despite the various scammers activities on the space. Hopefully, meme coins will keep bringing fun to the crypto community especially the genuine memes.

memecoins could integrate utility as well to stand out or at least build a purpose around the coin

[JoyMarsha]

Lastly, the Jailstool coin that had about $200 million as marketcap, is today having about $7 million as marketcap.

You don't praise a particular memecoins because its price skyrocketed over time, while it will later experience a dump. I always feel pity for those who invest in memecoins out of FOMO because of the short term profits they have seen

[taufik123]

-snip-
You don't praise a particular memecoins because its price skyrocketed over time, while it will later experience a dump. I always feel pity for those who invest in memecoins out of FOMO because of the short term profits they have seen

They will just lose everything and there will be no return, even worse the memecoins they buy have no price at all and the developers just disappear with a lot of profits, but those who buy will only make a loss.

Those who are too FOMO will only fall prey to fraudulent projects.

[Mr. Magkaisa]

-snip-
You don't praise a particular memecoins because its price skyrocketed over time, while it will later experience a dump. I always feel pity for those who invest in memecoins out of FOMO because of the short term profits they have seen

They will just lose everything and there will be no return, even worse the memecoins they buy have no price at all and the developers just disappear with a lot of profits, but those who buy will only make a loss.

Those who are too FOMO will only fall prey to fraudulent projects.

          -      You know, I've noticed that even though many of us here have been reminding our fellow forum members about Fomo and rug pull, there are still many who are still victims, I don't know why. Maybe because there are still many ignorant and innocent people when it comes to these issues in the crypto space.

So I hope that those who are entering this industry will first be vigilant or observant and first learn to really know the basic things about it because crypto investment is really high risk and they will value the capital they will use to buy crypto.

[albon]

They will just lose everything and there will be no return, even worse the memecoins they buy have no price at all and the developers just disappear with a lot of profits, but those who buy will only make a loss.

Those who are too FOMO will only fall prey to fraudulent projects.

Of course, meme coin has no intrinsic value so it is unlikely to have long term stability. Also, meme coin is a high risk game so it is important for everyone to be aware of this. Initially, the price of meme coin fluctuates suddenly and many investors fall into the trap of this notorious scam. Meme coin price fluctuations are often influenced by trends and social media discussions, so everyone should be careful about this. Small amounts of meme coin can make you profit but large amounts can also cause significant losses.

[bitterguy28]

Meme coin price fluctuations are often influenced by trends and social media discussions, so everyone should be careful about this.

it can also be a double edged sword because these trends can be what will cause the hype around the project and what will be able to give you profit but it can be so volatile because these trends are also very fluctuating one day it can be a good thing the next day the trend might have died down already

Small amounts of meme coin can make you profit but large amounts can also cause significant losses.

that depends where you got your memecoin allocation if you got it from airdrops alone then i think you are safe to go

[36B]

They will just lose everything and there will be no return, even worse the memecoins they buy have no price at all and the developers just disappear with a lot of profits, but those who buy will only make a loss.

Those who are too FOMO will only fall prey to fraudulent projects.

Of course, meme coin has no intrinsic value so it is unlikely to have long term stability. Also, meme coin is a high risk game so it is important for everyone to be aware of this. Initially, the price of meme coin fluctuates suddenly and many investors fall into the trap of this notorious scam. Meme coin price fluctuations are often influenced by trends and social media discussions, so everyone should be careful about this. Small amounts of meme coin can make you profit but large amounts can also cause significant losses.

Meme coins are unregulated and can be easily bought and sold in the market, and therefore they have very little backing which makes them highly volatile. Some investors develop the notion that they will become super rich and end up a bankrupt when the tide turns. Meme coins are mainly created through discussions on social media or in specific subreddits and it is not rare for its price to go up and down just from that. For anybody whom would want to venture in this form of investment, it is advisable to do so wisely by accepting that it is a very risky area of investment. Fast growth is possible, so is the decline. If you are aware of this then, it will help to manage your expectations in the right manner, to the greatest extent.

[Faisal2202]

speaking of meme narrative I just came across an interesting meme coin called JAILSTONE—it was actually made to mock Dave Portnoy for his pump-and-dump habits. After a joke about potential legal troubles related to alleged market manipulation, he ended up buying JAILSTONE and even promoting it. As a result, the project skyrocketed to around a $200M market cap at its peak.

What’s the most interesting meme coin narrative you’ve ever heard?

The token name is not jailstone it is jailstool, please correct the meme coin name. I just read the whole story behind this coin and really surprised to hear the pump and dump manipulations of this Dave as this is my first time hearing about him.

He really pumped and dumped many memecoins via his twitter but all the time if I am not wrong he shared a disclaimer that I will sell so don't spend with money you can't lose.

Point is, he gave disclaimer but he was manipulating everything via his followers and I am amazed to see how his followers made this jailstool meme coin trending on twitter on his demand within 20 minutes. He really have a very active community.

[taufik123]

You know, I've noticed that even though many of us here have been reminding our fellow forum members about Fomo and rug pull, there are still many who are still victims, I don't know why. Maybe because there are still many ignorant and innocent people when it comes to these issues in the crypto space.

Those who are still stuck with memecoin FOMO certainly always expect big profits with small capital, but if it continues to be done then the capital will also run out.

I also did it and didn't stop, at first I did get a big profit but then the profit ended up being lost on other memecoins and it kept happening until my capital disappeared.
It was a reminder to me that it takes a good mentality and a clear goal when it comes to trading memecoins.

-snip-
Initially, the price of meme coin fluctuates suddenly and many investors fall into the trap of this notorious scam. Meme coin price fluctuations are often influenced by trends and social media discussions, so everyone should be careful about this. Small amounts of meme coin can make you profit but large amounts can also cause significant losses.

A trend that happens to memecoins is sometimes just made up and devs only hire influencers to market their new memecoins.
this makes memecoins trending and more people buying, but in the end it will only end up with Rugpull.

I see a lot of memecoins that are indeed made for the purpose of deception and everything that is made for marketing is just crap.

And about the number of coins that are owned by a few or a lot, it is only limited to numbers, but when the hype is done it will generate the same profit and yes in the end it will only be abandoned and some that survive until now certainly have a strong development and commitment to continue building it.

[yohananaomi]

-snip-
You don't praise a particular memecoins because its price skyrocketed over time, while it will later experience a dump. I always feel pity for those who invest in memecoins out of FOMO because of the short term profits they have seen

They will just lose everything and there will be no return, even worse the memecoins they buy have no price at all and the developers just disappear with a lot of profits, but those who buy will only make a loss.

Those who are too FOMO will only fall prey to fraudulent projects.

I don't know why there are still many who speculate about being able to buy meme coins with the aim of having a surprise and getting a profit from the surprise that exists, but in fact, until now, meme coins have not given a surprise to increase but a surprise to lose, because their value is no longer there after that.
You are right that it always happens that many people fall prey to fraudulent projects because they are tempted by things that are impossible to happen.