I don't trust new projects with inexperienced teams. I've been burned by several solid projects with new teams that couldn't deliver on their promises. Recently, I came across an airdrop for an upcoming meme project called DingDang. The interesting part is that the team successfully launched Kikswap in 2022, which performed well. The presale participants gained a 10x return at launch, and they raised 506 BNB in the initial seed sale. With many trending meme coins in the market, I'm considering investing in DingDang during its early stages. What are your thoughts on whether it's worth it or not?
Investing in meme coins is very risky, because there is nothing truly backing them except for the community spirit. And the market is oversaturated with memecoins by now. There is a memecoin about everything.
So from a long term perspective, they are not really worth investing in, although that being said, the meme coin / nft craze is going quite strong. I don't get it, but it is something that people like very much. Yes, you could make a lot of money with meme coin pumps, but that is basically gambling.
I would rather invest into something innovative.