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?
If you are new and very interested in meme coins, then it would be better to really learn about it. If the meme coins already have an ATH, it would be better to avoid them, because usually meme coins that have touched the ATH and have started to drop again will be very difficult to rise again. most of them will end up in shit coins. There are lots of memecoins that eventually become shit coins. Don't trust memecoins too much, especially those listed only on regular exchanges.
If you can't yet, it's better to avoid meme coins, unless you can really judge when they will go up.
this statement honestly is true, usually meme coins after reaching certain all time high they went downhill, why? because quite literally everyone is dumping their meme coin in to the market for the sake of liquidating their investment to make investment in yet another emerging meme coins, they are already preparing for it.
meanwhile the meme coin which has reached all time high will eventually getting abandoned i mean they might retain their market capitalization which was initially quite huge but it is undenied fact that from here on there will be no significant rally or even market movement coming from such meme coin, just see at shiba, so many innovation yet the price going nowhere.