One thing about memecoins is they are hilariously always capitalizing on the ongoing situation in the world. I remember when Trump got shot at his rally and there was already a meme for it lol
Most memecoins are just created to scam people, scammers will create it, and they will pay influencers money to help them hype it, and sometimes influencers are always part of the scammers team, after promoting the coin and there is hype, they will end up dumping it on people that invest in it. That’s why I do encourage people not to follow all these influencers and celebrities blindly. If they post anything, always make sure you do your research before investing, and I will never encourage anyone to even invest in all these memecoins because I know the risk involved in it.
Yes, the fact that memecoins are mostly created to scam people cannot be denied. Many memecoins that were created just a few months back are nowhere to be found. When some of these memecoins were launched, they seemed promising, but where are those projects now? They have become dead projects.
I am not a fan of memecoins, and I don't think I ever will be because they are an easy way for some to lose money in the crypto industry. The truth about these memecoin scams is that even some influencers create their own memecoins and still advise people to buy them. However, within a few days, after pumping the project to attract more investors, they withdraw funds and dump the project.for this reason, I will not encourage anyone to invest in memecoins. However, if someone insists, my one piece of advice again is to invest only a very small amount of money that if will not make them think of the money when they lose it.