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Quote from: Andrik Viate on June 02, 2022, 08:45:40 AM

I am confused that there are meme coins whose prices are sky rocketing but I dont see any real value these meme coins are providing

Most meme coins experience price spikes that only last a short time and usually this will happen after a FOMO by a celebrity or public figure so some people are afraid to miss the train if they don't buy the meme coin, but once people who enter early have managed to take advantage they will throw it away with a large amount it will cause the price to go down again basically because so far there are no fundamentals of the meme coin that can help maintain its price.

The meme coin that I know which evolved to be a useful one before this meme hype, is doge. Even before this hype, doge was already used by many gambling platforms and you can find it basically in most trading platforms. I used to use this before for transfer purposes because the fees were cheap but when this meme hype took over, the fees are quite expensive as compared to other alts like LTC. With respect to other meme coins, I don't see anything valuable that can provide them longevity on this market. Once people are done with meme, they can easily die down without being noticed. So if you want to invest long-term, consider first btc and other top alts with actual usage in this community.

Dogecoin is Elon Musk's coin. He is very cunning and did not want to create his own coin. He and his team spent several years buying this coin very cheaply in order to get most of the coins. And no one knows what will happen to this project when Elon Musk gets tired of his toy.

In fact, the future of doge is also bleak as we all know doge is an age-old meme but there wasn't any hype surrounding it until Elon mentioned doge. We don't know what Elon's real purpose is, whether he really loves Doge coin or he just takes advantage of it to enrich himself and then throws it away when it's no longer worth using. If that happens, I think it's a tragic end for the doge.