Re: Why people keep "investing" money in shit/memecoins? Genuine question.
It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?
This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?
Well, everyone is in need for quick wealth, and from what dogecoin and Shiba inu has done, most people, which I believe majority of them are newbies, believe that memecoins are the only way they can get some really quick wealth.This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?
And again, this shit memecoins are always very cheap, with as little as $10 box, one can afford millions and sometimes even billions of the coin, newbies who don't know exactly how this things work yet count on those numbers, without realizing that the total supply of the coin itself is over inflated which is the reason why they could buy such number of coins at such a price.
So in my personal opinion and conclusions, I have two reasons why I think many people which I believe most of them are newbies, opted to invest in meme shitcoins instead of a worthy and quality project.
1. They are super in a hurry for some quick money.
2. The cheapness of this shit memecoins attacks many people mostly newbies because with very little amount of money, they can afford millions or even billions of the coin or token.