Quote from: jerry0 on March 17, 2022, 05:44:59 AM

And I am especially talking about those memecoins like dogecoin, shiba inu and those other coins that pump and dump in those shiba doge and those make up coin names? There is zero purpose of these coins. They had that squid game token I believe. What is the purpose of these coins? It literally sounds like someone creating a video game and making up coins. The worst part is you have people buying these coins to most likely try to make a profit and then sell since rarely are these coins meant for holding.

Not only that, these coins have no usage. When there are coins called bluecoin and greencoin, what exactly is the purpose of these? The only coins that make sense is btc and litecoin. I don't even know why ETH is a coin since its not like currency. Ripple for example does seem like a coin since it seems like a penny or nickle so to speak. I know there are tons of those memecoins are pancakeswap and uniswap and many of these coins are top earners for the day before they later all go down. Are there many that even stay up?

Anyone can make up coins but why is anyone even buying any of these? If dogecoin has no real use... then none of those other coins have any use. So why do these new coins keep showing up?

Most of the memecoins are made to scam people. Quick pump and dump scheme. People invest in those coins with the hope of getting rich. But only few lucky ones that act quick make some profit, while rest of them loses everything. None of those meme coins survives long enough. They all eventually die. Dogecoin has no real use case, but it was the first meme coin and so it has a huge advantage along with a strong community support. Shiba is also another meme coin, but they also have a huge community and actively wants to develop it and bring actual use cases.
Those coin keep on showing up because it is a decentralized market and no one can stop them from making a new coin.