Quote from: LogitechMouse on June 12, 2023, 02:51:05 AM

Impact of meme coins? None obviously.
Well, there are some meme coins are being used as a payment option in some websites or the like, some are being used for transaction purposes like DOGE, but aside from that, I don't see any use case of these coins, and so is impact.

Why people invest in these memecoins despite them knowing that the risk is huge? Trust. I don't know exactly why people are trusting these memecoins thus, supporting them and investing into it, but I believe that they trust the project that's why they're investing into it. Of course there's the profit on it as well, but there are also people who loves risk, and knowing how much profit they can get, they will surely invest into it even though the risk is very high. Meme coins are just a cash grab, and we know that for a very long time already. There were many meme coins that have been created in the last meme coin hype a few years ago. Most of them became a scam coin, some have been abandoned, and some might still be in development until now.

TBH, I don't want to generalize all meme coins because we've seen DOGE, SHIB, and now PEPE who are now in the top 100 in terms of market cap. I believe that in the future, more meme coins will be in the top for various reasons, but as for me, I will not touch any of these meme coins... or maybe DOGE only.

At least, "meme" coins are a great way to get into the world of crypto "without breaking the bank". That's because their infinitely-expanding supply helps keep market prices low. What I don't like about these coins is that they're often used for scamming people. It's probably because most crypto users are inexperienced and are only into this to make a quick buck without taking the necessary security precautions.

The crypto market is flooded with a lot of junk these days, ever since Elon Musk "pumped" Dogecoin's price back in 2021. Unless regulators weigh in, don't expect this to end anytime soon. Just my thoughts Grin