There have been many rugpulls from "meme" coins recently. From Barron Trump's fake "meme" coin, to President Javier Milei's "meme" coin meltdown, there's been a pattern of rugpulls and scams. People turn into such coins out of pure greed without realizing the consequences of doing so. Why won't they choose Bitcoin or Ethereum instead? I can't understand why people keep falling into these schemes.
Will people ever learn from "meme" coin scams? What will it take to put a stop to this madness?
Your input would be greatly appreciated. Thanks.
The reason people still invest in meme coins even though they realize meme coins are partly scams is because they want to get rich quick. Because for them this is a risk taker and an opportunity hunter. That's why they don't give up investing in memecoin even though there are other coins that have good fundamentals like BTC, ETH and other top coins because they like high adrenaline and hope to get double the profit and this is where risk and opportunity go hand in hand. But unfortunately there are some as beginners who also follow it so they experience losses because they don't have knowledge about memecoin.Will people ever learn from "meme" coin scams? What will it take to put a stop to this madness?
Your input would be greatly appreciated. Thanks.
Those who like to invest in memecoin are like gambling because the positive impact of meme coins can generate very high profits even beyond reason and the negative impact of meme coins, coins that are very liquid and volatile have very high volatility. If I myself have decided to only trade in coins that are already popular and have a large market volume value, I think it is safer than taking the risk of profit by speculating on memecoin.