Do you Invest in Meme Coins ?
Hello friends,
I am doing good, and I hope that you are having a good time with your near and dear ones.
There are two types of coins in the crypto market. One is very strong in fundamentals and has got nice use case in the project and another one is the coin having no use case and even there are no fundamentals. If we are investing in a coin that is sound by the fundamental and have a pretty good development, then it is a good decision. Secondly, a coin that is not backed by a solid fundamental means it is a meme coin.
For example, some coins like Shiba Inu and doge, etc are meme coins. The value for these coins is determined by the market height and technically there is no use case and fundamentals for such coins. Despite all these facts people still make money through these coins which I think is a risky decision. We have recently seen that the Twitter logo was replaced with the Doge, and this was a hype situation where people got more interest in Dogecoin. I am not sure if this is good for us in terms of investment because I never feel like investing in such a coin. I am not too good at investment, to be honest, but a big no from my side in any project that does not bring any value in return.
While I share a different opinion, I know some people who are investing in such points as they think this can bring them more value as a return. I am not denying that it is not possible because it has happened in the past when people made a good amount of money.
I understand then that the crypto market is not the place for easy money because if you carry this mind said then properly you are here to lose. It is not a market where we can be rich over the night but if we follow a proper study and proper strategy then there is the possibility to earn. People who spend on both type of project is fine as long as they are okay to deal with loss-making situations. I believe that should be a good balance so that if you lose something in one project then the others can adjust the losses.
Thank you
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It's a big no for me too. Despite them having a place in the crypto space, I see them as a distraction especially in terms of development.
I can relate with your thought and I am also not in support of meme coins. Its a risky investment
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