In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?
Même coins can pump and most times dump, but when you talk about their challenges to bitcoin dominance, I really don't understand if the trust that people have in bitcoin is just because of the price or whatever. Bitcoin is not in competition with any comparable coin or altcoin; it's on its own; rather, the altcoins are there to tap into the glory of Bitcoin.
If you check very well, the day Bitcoin climbed from $69,000 down to $60,000, the same coins you are talking about were unable to withstand the fall; some of them dropped down by almost 30% just within the time Bitcoin dropped down, and when it started regaining its strength, meme coins posses a great risk in users investment, but if you want to be blinded by the high risk and chase profit, you are free to go.