After my experience with SAFEMOON, I will never, ever try investing into meme coins again.. or maybe I will with DOGE, if I got bumped, and unfortunately my head got hit.
Trading isn't a get-rich quick scheme. I hope that traders know that, and I think the ones who has this kind of thinking when it comes to trading are the new traders who they think that they can get rich in trading that easy. If only trading is that easy then all of us would've been rich by now. Now that we have futures trading, most of the traders especially the newbie ones are jumping, and trading on it not knowing the risks that they can face while trading on futures.
Well, it's good that the perpetrator got arrested with what he did. There are some people out there who did the same, or got even higher amounts of money, but didn't get arrested unfortunately. Overall, I hope this serves as a lesson for those newbie traders out there that don't touch meme coins because anytime soon, they will just diminish alongside with your money if you invested into it.
I think you should not do it with doge neither, there is no reason to invest into meme projects no matter how big they look. Doge may look like it did alright, but it did it and now it's ended. You should not be buying anything that will make you lose money like that, it is not a good idea and you should try to avoid it as much as you can.
A lot of people end up considering doge had a big increase so it may have it again, but when you look at the market cap and the ranking of it, there is no room for doge to grow anymore, not a lot at least, it can grow with the market obviously, and maybe even gain a place or two, but the risk outweights the reward by tenfold easily. That is the best meme project, and even that one sucks, so imagine about how terrible the others must be.
You have valid points, memes coins generally don't have any solid project backing them, they are only enjoying the demands in the fun when they appreciate. The beauty of it is to make your short-term money from them and remove your money as fast as you can after some reasonable gains, they are not sustainable. However, for those that are good at analyzing the market, they will always get to outsmart Dogecoin if they will not mind the time it would be sluggish. There are sure times that it will be worth the risk and energy if one could be observant and persistent.
Meaning that I will not totally write it off because it's a meme coin or because of the high market capitalization.