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?
Meme coins are simply meme coins. It all depends on the hype. We can see meme coins that will do 20 times better than DOGE but it all depends on the hype backing it. It is possible that a meme coin that seems like nothing suddenly gains a lot of hype and noise and the next thing it becomes the talk of the town. With this format with which they blow up, you can't really tell if they are good or bad because their value falls back on the hype level. I generally like to advise strong research before getting involved in normal Altcoins let alone meme coins. If you must invest in them, only do it with an amount that you can comfortably risk without FUD.