Post
Topic
Board Altcoin Discussion
Re: Are memecoins really important for the crypto market?
by
JeffBrad12
on 08/03/2024, 02:58:45 UTC
That's absolutely correct on the conclusion of your post reference of truck driver become a millionaire over night, for investing Doge Coin and is Meme, like wise Shiba Inu and other meme Coin, actually investing meme Coin is a good one and more profitable and very high risk business to invest on, while holding.
its really good for speculation to be honest the price swing was massive too in the early days, tonight it dumps tomorrow it reaches all time high just overall the scene that I remember when meme coin was still at early stage and there are many emergence of meme coin that follow exactly just that cycle, i've known many of my friends that are avid meme coin investors and they are all always trying to find some new meme coin to repeat that same history again in case they can become millionaire overnight.
frankly speaking though, it might not be a really good investment once it hits certain market cap and might not be ideal for trader when it hits billions of market cap since the price is usually stabilizing.
but overall i see no difference between altcoin and meme coin in term of price fluctuation.
overall its all the same fluctuation suited for speculation even more so for trader that trades short term, always remember though meme coin is high risk trades or investment.