I think, humor also plays a crucial role in mitigating psychological stress in the crypto market's inherent volatility. When prices experience sharp swings, investors often express their emotions through memes, poking fun at themselves and others. This self-deprecating humor helps lighten the mood and diffuse tension. Memes, in turn, give birth to new memes, and from these, new memecoins emerge.
Suppose you put your money in a coin with the logo of a frog, a dog, or any of the funny drawings, and you find thousands of investors who cherish the currency's logo in humorous memes and funny clips. In that case, this humor can alleviate the major psychological factor that controls any investor in the financial markets. Therefore, I agree with what you mentioned. Also, greed makes investors not care about the risks these meme coins may pose during their sharp fluctuations. Frankly, although they are currencies created for fun and humor as one of the factors for their spread, if any holder of these meme coins is exposed to the loss of his capital, he will feel a bad sensation, and his fun will turn into misery.
- Do you support the existence of memecoin in the crypto market?
Whether I support it or not, these meme coins have become one of the attractive investment sectors now for investors. They have gained popularity and a huge market cap so that they will remain present, and each person has a personal decision whether to invest in them or completely avoid them.