Hey fellow Bitcoin Enthusiasts!
I'd like to discuss the concept of memecoins and their growing presence in the crypto space. These tokens, often created as jokes or memes, have gained significant attention and picking up pace.
What are the underlying factors driving their popularity? How do memecoins differ from traditional cryptocurrencies?
I'd appreciate your insights and thoughts on this phenomenon. Let's explore the technical and economic aspects of memecoins and their potential impact on the crypto ecosystem.
There's no concept behind memecoins, to be honest! Cryptocurrency market became popular with innovations. Memecoins stand exactly opposite to that. The main driving force behind memecoins is, get rich quick. Memecoins do not sell innovation, they sell dreams that are almost impossible to achieve.
These memecoins are mostly created by the ponzi scam owners. Earlier there were two forums - MMG and Talk gold which were later taken down by FBI. So the ponzi scam owners then moved to the crypto market and started selling ICOs. When that hype is gone, they started selling NFTs and now when NFTs have died, it has come to memecoins.
That's honestly my insight about these things. So stay as far as possible from such memecoins.