Quote from: bounceback on October 04, 2023, 05:58:24 AM

Quote from: Games.Bitcoin on July 17, 2023, 03:04:50 PM

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?

The growth of meme coins is only driven by hype and when the hype explodes then the meme coins will have no value in the market, meme coins are lucky coins so we cannot identify which coins are good to invest in because almost all of them do not offer us any real use and have no fundamentals so we often see these coins suffering in the market. My advice, if you don't want to experience losses, you should stay away from meme coins, especially now that the Crypto market is in a bearish condition.

I can say that hyped projects are meant good for the short-term only. In fact, it has been proven already that many people got into it and earned huge profits which drives courage in the community. As we can see, people are looking for other meme coins, quite they have been into such trust and confidence. Unfortunately, those who come late struggle with the consequences and lose their money. Definitely, we can never say if it was totally good or it was bad, that will depend on what we experience.

If I earned a profit from investing in these meme coins, I would certainly be saying it was a good investment but if not, I surely hate them.