Post
Topic
Board Altcoin Discussion
Re: How can I understand meme coin good or bad position?
by
Gallar
on 01/09/2023, 02:43:37 UTC
How can I understand a meme coin's position in the current market? Is there any way to tell if it will be good or bad? I have seen MEXC exchange add many meme tokens daily. How to identify a good token from here?
To identify which meme coins have potential and which do not. This can be exemplified by the journey of the Doge coin and Shiba coin. Because currently these two coins can be said to be very popular memecoins.
For example, Doge became popular (hype) because behind it was Elon Musk's. Therefore, the figure behind the coin meme must be investigated and investigated. Because if you look at Doge's success, one of the main factors influencing it is the character behind it (Elon Musk).

Then what you have to pay attention to is Coinmeme's plans (project). Because although most coin memes do not have a clear direction or goal, there are also some coin memes that have a clear direction and goal.

Apart from that, always monitor influencers' social media which often has a big impact on coin memes which will experience an increase, and usually Twitter is a platform that is often used by crypto influencers or coin memes.

However, all the factors above do not guarantee that coinmeme will become hype or popular. Because the name is also coinmeme, most of the quality is quite bad. So if you decide to buy meme coins, my advice is just follow the above factors and after that you have to be ready with all the risks.