A Memecoin No More?

[taufik123]

Yes, those type of meme coins appear mostly on Solana blockchain, most probably on platform like Pump.fun, those who want to lose their money should consider investing on those useless meme coins. They hold no real world value but are created by scammers who get so much money from innocent investors or in exact words from greedy investors.

Pump.fun really became a nest for memecoin scammers who only made memecoins and then sold them when many people started to enter.
There are many cases that were sensational in the pump.fun because it became a live streaming venue that was quite brutal, even showing violence and planning of murder and exploitation of children, etc.

It has received criticism from many parties so that many countries have begun to block pump.fun.

[Mr. Magkaisa]

Yes, those type of meme coins appear mostly on Solana blockchain, most probably on platform like Pump.fun, those who want to lose their money should consider investing on those useless meme coins. They hold no real world value but are created by scammers who get so much money from innocent investors or in exact words from greedy investors.

Pump.fun really became a nest for memecoin scammers who only made memecoins and then sold them when many people started to enter.
There are many cases that were sensational in the pump.fun because it became a live streaming venue that was quite brutal, even showing violence and planning of murder and exploitation of children, etc.

It has received criticism from many parties so that many countries have begun to block pump.fun.

      -       Not only pumpfun has become a nest of scammers but even moonshot has also become a nest of scammers, and there are other platforms that are cheap because their capital is so cheap that they can create meme coins tokens. It seems like they are just being patient.

Because when they have time to buy a lot, they will suddenly sell a lot and those who sold have already fallen victim to rigpull because of these exploitative scammers.

[Aanuoluwatofunmi]

These days, memecoins are taking the whole cryptocurrency industry by storm and many investors are looking into it as not anymore as a JOKE but a serious tool that they can make money from...imagine that it is only here with memecoin where one can experience x1000 and even more profits.

Memecoins are profitable, despite the risk involved in them, they can make anyone turned a fortune overnight a d all that is required is to invest on a single meme that will change ones entire life story for good, however, we should also remember that at the same time, it constitutes a huge amount of risk in which we are more likely to lose than to make profits from it, because of their high volatility and hype which the investors rendered to them in their categories.

[Gurujebs]

Memecoins are profitable, despite the risk involved in them, they can make anyone turned a fortune overnight a d all that is required is to invest on a single meme that will change ones entire life story for good, however, we should also remember that at the same time, it constitutes a huge amount of risk in which we are more likely to lose than to make profits from it, because of their high volatility and hype which the investors rendered to them in their categories.

Meme coins are not profitable, they are nothing but losses. In 100 meme coins that are listed on pump.fun everyday, only 2 of them get the profits and most are insider coins. The rest are just shitcoins that get rugged immediately upon listing, with that can we really say meme coins are profitable? They are not in my opinion.

Try and review some of the meme coins that Binance has listed in the last 1 year, none of them has made all time high and many of them are dead, some are looking like they are not having team but they are chilling with the profits made with another plans on mind to rugged another project.

[taufik123]

-Not only pumpfun has become a nest of scammers but even moonshot has also become a nest of scammers, and there are other platforms that are cheap because their capital is so cheap that they can create meme coins tokens. It seems like they are just being patient.

Pumpfun is the biggest right now and there are a lot of memecoin projects that appear just for scams, especially after the livestreaming done by some people who make pumpfun a quite dangerous platform, this is what makes the current memecoin era need to be watched out for because 99% of memecoins that appear will only end up being scams and in the end just become garbage.

[Axcel777]

-Not only pumpfun has become a nest of scammers but even moonshot has also become a nest of scammers, and there are other platforms that are cheap because their capital is so cheap that they can create meme coins tokens. It seems like they are just being patient.

Pumpfun is the biggest right now and there are a lot of memecoin projects that appear just for scams, especially after the livestreaming done by some people who make pumpfun a quite dangerous platform, this is what makes the current memecoin era need to be watched out for because 99% of memecoins that appear will only end up being scams and in the end just become garbage.

These are situations that seem pretty expected in the crypto world as the more something gets popular, the more people aim at exploiting it to enrich themselves. For Pumpfun it can be seen that such an approach may attract a lot of attentions to the platform, while at the same time, it can also invite projects that have no clear agendas. They explain that if you are to invest in memecoins it is always very wise to look at who is behind the project and whether something makes it unique. For that reason, I do not have much confidence in the projects that focus on the current hype while having no real clear vision for the future.

[Bobcrypto]

.....
Now, am just curious, if a memecoin will be introducing good and viable utility use-cases and that the market of users will appreciate, can it level up and not anymore be categorized as a memecoin?

Well, have you forgotten the DOGE coin which was originally a meme coin has now changed into one that has a lot of utility. Look at the Doge coin which is already widely used by all major companies for payments, look at Binance which almost every day millions of DOGE coins in-out to Binance-Coinbase-Bitfinex etc.

I think the DOGE coin is now not just a meme coin but the DOGE coin is a coin that is super widely used by the community in the cryptocurrency space.
My choice is the DOGE coin is a coin that is not a Meme coin, if I have cryptocurrency Mining skills then I will definitely mine DOGE coins for profit in my life.

Dogecoin has not changed into any utility token, Dogecoin remains a meme coin, and might be the first meme coins that has huge support from high profile persons. Dogecoin is  a joke token and will remain in this capacity, except otherwise, the team will published a news or memo for conversion from being a meme coin to a utility tokens. Nevertheless, Dogecoin became popular because of Elon Musk promotions and support for over three years counting.

[Axcel777]

Dogecoin has not changed into any utility token, Dogecoin remains a meme coin, and might be the first meme coins that has huge support from high profile persons. Dogecoin is  a joke token and will remain in this capacity, except otherwise, the team will published a news or memo for conversion from being a meme coin to a utility tokens. Nevertheless, Dogecoin became popular because of Elon Musk promotions and support for over three years counting.

This is exactly why I consider Dogecoin as a primary example that a coin does not necessarily have to alter a lot in order to stay alive. Other cryptocurrencies have been introduced into the market and after some time they fade away, but Dogecoin has been in existence due to its increased acceptance by the public. Certainly, if Dogecoin gains other utilities in the future, it will get a great boost, although even if it remains where it was, as long as the demand works, there will be value. The nature of its creation as a meme turned into a real currency is rather intriguing especially when compared to a number of other coins which started with much more extensive concepts.

[robelneo]

It has received criticism from many parties so that many countries have begun to block pump.fun.

This is the reason why I never support memes; there are a lot of bad things about memes, and this platform makes it possible to manipulate the meme market.
I consider memes as one of the bad sides of the cryptocurrency industry. So many people have been deceived and lost a lot of money, and so many entities have been exploited by its developers, so its better to stay away from investing in memes.

[LogitechMouse]

-Not only pumpfun has become a nest of scammers but even moonshot has also become a nest of scammers, and there are other platforms that are cheap because their capital is so cheap that they can create meme coins tokens. It seems like they are just being patient.

Pumpfun is the biggest right now and there are a lot of memecoin projects that appear just for scams, especially after the livestreaming done by some people who make pumpfun a quite dangerous platform, this is what makes the current memecoin era need to be watched out for because 99% of memecoins that appear will only end up being scams and in the end just become garbage.

The good thing though is that the trading volume around pump.fun is slowly declining already which shows that some investors already realized that investing into new meme coins is indeed very risky.

Still, there will be investors that are willing to risk their money hence, will continue to invest into these new meme coins, but it isn't worth it at least on my opinion. I mean what are the chances of you making money compared to the chances of you losing money. I agree with what you said that pump.fun is a dangerous website and a home to numerous scammers because anybody can just create a meme coin out there in just a few clicks. There will be a time where meme coins especially on this website will lose it's hype and investors will realize that it's not good investing on these new meme coins.

[Fivestar4everMVP]

Now, am just curious, if a memecoin will be introducing good and viable utility use-cases and that the market of users will appreciate, can it level up and not anymore be categorized as a memecoin?

The answer is yes, any Altcoin currently in the market or that will enter the market can be categorized as a meme coin or utility coin, what differentiate them is the usecase..

When a once memecoin begins to create usecases which give the coin some utilities, it's very possible for such coin to shift from being a meme coin to becoming a utility coin, this is just how it is for me.

Though it's very possible that even after the memecoin becomes a utility coin, most may still refer to it as a memecoin, but the fact remains that, such coin only started a a meme, but with the usecases and utilities it manages to have at that moment, it's no longer a memecoin but a utility coin.

[Mr. Magkaisa]

Meme coins do not have any utility, it is as simple as that. Investors do not look for utility in memecoins, they look for a way to simply multiply their money and it does not always come off for them. I will simply classify memecoins as pump and dump coins and really nothing more.

         -       You're right, there's really no utility and use case, but you'd be surprised how many people are so drunk on meme coins, they really see meme coins as a hope that can get them out of poverty. And this kind of mindset is usually only for beginners who have no idea here in the crypto space.

But if newbies only knew what a meme coin is and what they should consider before buying it, for sure there wouldn't be much to worry about if the meme coin they choose knew how to determine if it's just a scam or not.

[Aanuoluwatofunmi]

Memecoins could be interesting and at the same time be disappointing, these are the challenges that some of us faces with cryptocurrency because not all of them can give us the same expectations, if we have enough years of experience in dealing with them, then we might have more information about some of them and how to go about investing under a safety precautions that will protect us from making loss in them.

[Mr. Magkaisa]

-Not only pumpfun has become a nest of scammers but even moonshot has also become a nest of scammers, and there are other platforms that are cheap because their capital is so cheap that they can create meme coins tokens. It seems like they are just being patient.

Pumpfun is the biggest right now and there are a lot of memecoin projects that appear just for scams, especially after the livestreaming done by some people who make pumpfun a quite dangerous platform, this is what makes the current memecoin era need to be watched out for because 99% of memecoins that appear will only end up being scams and in the end just become garbage.

These are situations that seem pretty expected in the crypto world as the more something gets popular, the more people aim at exploiting it to enrich themselves. For Pumpfun it can be seen that such an approach may attract a lot of attentions to the platform, while at the same time, it can also invite projects that have no clear agendas. They explain that if you are to invest in memecoins it is always very wise to look at who is behind the project and whether something makes it unique. For that reason, I do not have much confidence in the projects that focus on the current hype while having no real clear vision for the future.

         -      But I've seen some content creators on YouTube giving tips on how to make a profit by sniffing profit on meme coins via pumpfun, and what they show is too good to be true, because we know that the market on pumpfun is quite volatile.

And rugpull often happens on pumpfun, and many who try it often end up burning or liquidating their funds that they gamble
on while conducting trading activities.

[yhiaali3]

I don't know what good, viable use cases meme coins could offer? They essentially have no project or purpose, so how can they be used to provide useful things?

In addition, for a coin to provide services, it must have a suitable infrastructure, such as a blockchain or the ability to be used for payments, etc., and meme coins don't have such an infrastructure that could make them viable.