Meme coin is a cryptocurrency known in 2013 with the first coin being Dogecoin. When it was created at the time, it was seen as nothing more than a joke. But with just one tweet from billionaire Elon Musk, the price of Dogecoin has increased from the lowest 0.00008547 USD to the highest 0.7376 USD (According to Coinmarket statistics), which is an increase of approximately 8629%. At the time of Elon Musk's Tweets, would you rather invest in a coin with no value, no direction? And such an absurd price increase is it because this currency has value, the real purpose of use, or is it because the people who hold a large number of this coin are rumored, pumping the price to make a profit for them.
To this day, the actual value of the Meme coin is just a shadow. And we are the creators of that shadow. Since the price increase of Dogecoin, there have continued to appear crazy price increases of other Meme coins such as Shiba Inu, Safemoon, Hoge coin…. All that increase is due to the crazy rush with the mind. management of FOMO (Fear of Missing Out) after the Dogecoin event of millions of people around the world. Of course it is the law of supply and demand, if the supply is small and the demand increases, it will be obvious, the value will increase accordingly. And that's the only thing I know about the price increase of Meme coin. But think about it, some people will get richer, others will be poor, fair of nature. Many people have lost everything after investing in this meme currency, they focus on investing in newly born meme currencies with the thought, "The new coin is not known by many people, if I enter early, I will have a chance get back a value hundreds of times higher, if now there are 10 zeros, then losing 1 zero will have a profit of x10, too easy!".
Investing in meme coins always carries huge risks. When you accidentally meet the trend-generated Meme coins, if you don't sell it in time, just after 1 night, you will get back to endless zeros. Not to mention today there is also a new form, which calls for capital at the stage of formation, when buying in this form, you will be considered a cheap buy, after raising enough, they will return the amount of tokens. respective coins. After that, there is a project that will pay you tokens, but with a value dozens of times, even hundreds of times lower; There are projects that suddenly evaporate, delete all communication channels and of course your money will also fly away. If you are really lucky, you will meet a good coin project and get a profit, but that is only a few.
The future of memecoin is really a mystery, but in my opinion, the mass birth of such meme coins will make us gradually lose faith in it. And the final corollary, the meme coin will be worthless.
I have a friend who is crazy about meme coin, just name any type of meme coin, he will be willing to spend a sum of money to invest in it without any research, I asked him: “have you made a profit yet”, he said: “lost”; I asked more: "If you have a loss, why are you still investing?", he smiled and said to me: "I am afraid of losing the opportunity". This story popped into my head an idea, if everyone has the same thought, I can get rich by creating that opportunity for you. (You know what I mean)
In short, depending on everyone's thoughts,Please choose and research carefully before participating in the unknown currency called Meme!
What do people think about Meme coin?
(These are my opinions about Meme coin, without any desire to manipulate or appeal to people)