How long do you think this hype around memecoins, especially Solana memecoins , will last ?
Since the beginning of the year, we've been getting so many projects from Solana and a lot of them have been doing so well, or at least benefitted a lot of people.
TRUMP, Fartcoin, WIF comes to mind, and there are already new ones like UFD (Unicorn Fart Dust for those that are not familiar) looking to do something similar. But do you think we've reached the end of the pump, or would this continue for a while?
For those who do have that experience then we've been through into a meme coin season on which BSC chain had become that the main trend on which tokens or meme on that particular time was really that popular and coming back on $SHIB on which we know on how popular it is. Now that we are on a new market cycle then this is the year for $SOL meme based tokens but somehow there are still on other chains that are having some considerable meme coin counts but of course when it comes to volume then we can say that solana based meme coins are really that have more.In speaking about investment options then its good for short term but for long term? Nah. It will really be that a huge problem if you do so because we do know that these meme coins will really be having that only have that one huge pump then die forever and create another new meme coin and this cycle continues. This is why you should really be careful on what you are dealing into.
You're spot on in highlighting the importance of catching the momentum and being prepared to exit quickly, as memecoins are notoriously volatile and prone to rapid price swings. Also guy your warning against holding onto memecoins for the long term is also well-taken, as their lack of fundamental value and reliance on hype make them unsustainable in the long run.
I also appreciate your nod to the Solana-based memecoins, which have indeed been gaining traction in recent times. Example is that of $UFD that was created after this YouTuber heard about $Fartcoin hitting a $500M and has been doing great since it was listed. The project was noticed early through Bitget Seed.
However, as you cautioned, it's essential to approach these investments with a clear-eyed understanding of the risks involved and a well-thought-out strategy for managing those risks.