Quote from: TelolettOm on November 22, 2023, 11:57:22 PM

Quote from: oktana on November 22, 2023, 11:04:38 PM

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.

Since the price of Doge skyrocketed, so many meme coins, there are many risks that we have to face. So far, meme coins have always taken advantage of their hype period to become famous and ultimately skyrocketed in a short time. And herein lies the trap. because usually the price will immediately plunge and will not be able to come back again. And at that moment, many beginners end up trapped in a high buying position and cannot sell again at that price. So, large losses are often experienced here too. It would be better if you avoid meme coins if you don't know how to utilize them

The risk faced is no way proportional to the number of meme coins that has emerged since Doge. Every meme coin is a risk. Even Doge at that time was a risk. In fact, I could see replies of people under Elon’s tweet saying that he ruined their life (they definitely got in late). Also, there’s no way to utilize meme coins, instead you can say that it is better to avoid them if you can’t handle their volatility. But I’ll simply change that to saying that one should invest only amounts that they can bear the loss for.

Quote from: lienfaye on Today at 04:56:13 AM

Quote from: TelolettOm on November 22, 2023, 11:57:22 PM

Quote from: oktana on November 22, 2023, 11:04:38 PM

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FUD is the reason why many beginners are joining the ride to buy a meme coins even the price is already high. But due to the popularity, they are blinded by the profit since they don't want to miss the chance. Well, even before, whatever the current trend is (ICO, IEO, NFTs etc.) many of us tend to follow the hype because we want to profit. However it's a must for us to know what we are getting into before buying. Like these meme coins, they're risky to invest in compared to established coins. Therefore, always DYOR, so regardless of the result (if ever you invest) it happened because that's your decision and no one coerce you.

FUD means Fear Uncertainty Doubt. That can’t be the reason why beginners will join instead it should be a reason to leave. So you must have meant FOMO.