Before this year 2023, people were launching projects with whitepaper, roadmap and promote those projects with Their team. Memecoins were few but this year, situation is changed. Everybody is busy launching memecoins, no whitepaper, no roadmap. 8 projects are memecoin out of 10 projects.
It seems, this year will be full of memecoins. What do you think? Why memecoin launching is increasing so much in this year?
I wonder why there's been such a significant increase in memecoin launches this year. Is it driven by the popularity of meme culture and the desire for quick gains?
Yeah, I think that is one reason, easy, fast money for this developers and with less capital as well. They don't need to shell out huge money to promote, just some social media hype and that's it, almost all speculators are ready to jump it with this meme coins.
But it is still a gamble though, perhaps before the hype on Pepe, there could be hundred of meme coins in the past that never made it that far and just die a natural dead. So it's a combination of pure luck and then hyping the next meme coins and then speculators finding it to pump & dump that make meme coins significantly increasing in the crypto space.