I have said it before and I will continue saying it: Memecoin/Airdrops is not for the chicken-hearted. Before investing in it, first think about the risk and the potential loss of assets. Don’t always think about the quick wealth because you’re just gambling and anything can happen.
Prepare yourself for the loss and if peradventure it turns to a profitable investment for you, you rejoice. Unprepared profit is always better than Unprepared loss. I’m just imagining what this fellow will be passing through now
Investing in solid project is the only guaranteed path to success
the truth is, you should bear in mind that, nothing is guaranteed in crypto. We have seen solid projects going to zero. You will do all your checks and balances but still loss. Learn to take profit. That’s it. Don’t be greedy whether shit coins or the so called solid projects
My own little advice on investing on meme coins and shit coins is that one should
1.research and due diligence before investing in andcryptocurrency, including memecoins or shit coins, it is crucial to conduct thorough research. Look into the project’s whitepaper (if available), team members, community engagement, and the technology behind the coin. Be wary of projects with limited information or anonymous teams, as they may be more prone to scams or pump-and-dump schemes.
Watch Out For Market Manipulation: Due to their speculative nature, these types of coins can be susceptible to market manipulation. Pump-and-dump schemes, where a group artificially inflates the price of a coin to attract buyers before selling off their holdings, are common. Stay vigilant and be cautious of sudden spikes in price and social media-driven hype.
Check for token Utility and Long-term Value: Consider the utility and long-term value proposition of the coin you’re considering. Does it solve a real-world problem? Does it have a strong use case or potential for adoption? Memecoins often lack these fundamental aspects, so it’s important to understand what you’re investing in and whether it has any lasting value.
Thank you for contributing in the discussion. Just as you’ve written in your point #3, the utility of any token matters and worth considering before making any investment in such token but the craze for quick wealth has reduced this to the barest minimum. People now gives little-to-none attention to the utility of tokens when putting their funds in lots of these shitcoins and the results, for the community, is devastating except few that do invest on time
Yes bro! Nothing is guaranteed in crypto but one enjoy a relative peace of mind in investing in tokens that have utilities and a well planned road map than gamblings on shitcoins that only serve to enrich the developers and few influencers
You are right bro, the have audience because people are now interested in what will give them quick money and that has been the reason for this craze in memecoin region. Imagine what an ordinary investor would’ve suffered if this dude dump a 21 ETH worth of $BEN in the market had it been he succeeded in this gamble
Yes, the facts is clear.
The are some school of crypto investors that are fully ready to gamble for fast money meme coin
So what ever the see, earn, lost that is totally on them
Thank you brother, for saying this … you are clear.
Yes, THE INFLUENCER OF THESE COIN, PROJECT OWNERS DO GAIN.
don’t get me wrong, maybe if I was to be one influencer I would be interested to gain.
Where they problem comes in is when THE INVESTORS
JUST GAMBLING INTO IT 100% WITH A QUICK GAIN MINDSET, which do end many in rugpull and tears
Because no solid project plans
No doubt that even the solid project, or solid Influencers
Might turn to be negative dip
for those who invest because of tech I recommend tokens with utilities for you but don’t complain when the prices are stagnant or reducing. Continue loving the tech.
Those who are in for money, I recommend shit coins but not all Shitcoins. If you see it early, fair launch period with big influencers, you are lucky you can make 2x to 50x but don’t be greedy take profit and wait to see what will happen. Immediately you see binance will open… please cash out
The truth is Shitcoins makes millionaires and makes people poor too. it is 100% gambling
Coins with utility may make you rich some years later provided you hold enough. Now the problem we are facing is, most tokens have same utility so at the end the one who is willing to pay more or invest more in marketing wins. So it is not any coin with utility that will make you money No…
One thing that helps Shitcoins is that, when they get some stands it becomes community driven. They start to shill their bag because deleting just a zero gives someone some millions so such people do their possible best to advertise it. Doge is one, it has come to stay and some of the so so called utility tokens are no near it. It has utility now given by the community. Shiba too same and I won’t be surprised if Pepe follows. But do well to avoid those copy paste like pepe inu, Doge elon, Pepe this and Pepe that. These memes coins kill.
Always the original memes coins stay but scammers try to use that same energy to steal.