Quote from: Coyster on December 21, 2024, 07:37:48 PM

You can't just buy any cheap coin and think it will definitely rise above $1 if you hodl it, that is not a strategy if you ask me; you are just gambling. I call it gambling because you might just get lucky or you could do it and never get lucky. Instead of wasting your money doing this, why not just buy better coins, like bitcoin, you can accumulate using DCA, you don't have to buy in one lump sum and before you know it you are building a portfolio.

More people are just gambling by buying new memecoins, and they don't even know who the developers are, what the community is like and what the goals of the memecoin project are. At first, it may go up and look good, but then it will just be thrown away and just become an abandoned memecoin, or it can be called a rugpull.

I also once stuck in a situation where I just bought without doing my research, and it was like gambling.
Wasting money on a memecoin project whose origin and purpose are unclear.

However, some well-built memecoins, with clear developers and useful and innovative utility, can be gems that provide great profits,
but it is very rare that such coins are available.

and the last option to avoid getting into that obscure memecoin is to buy Bitcoin and the top altcoins and do a DCA when the price drops or consolidates, the important thing of all of that is Research.