Yes, I can vouch for it as I tried experimenting with a very low capital on Solana meme coins through Phantom wallet and trust me I spend 3 consecutive hours with even a breather and guess what I ended up losing it all after winning initially as it's not different to future and here in memecoins majority of them are scams they get you rug pulled, you are just one wrong move away from losing it all. Better to stay away from it.
Many are still hoping for a quick rich scheme and they believe meme tokens are the best way to achieve it.
If you're lucky enough to get in and exit early then there's a big chance for you to make good profit but if not, then expect to lose it all. Investing with meme tokens are more risky than doing futures trading, because in meme token they will just surprise you by the rug pull and you have no more chance to recover your money.
I just laughed when I see people talking about how they had made huge amounts of money from Solana memecoins. The truth is bitter and many of these people would but actually tell us the truth about the loses. Many of these traders lose more than they claimed they are earning from the market.
Trading is not always rosy and when you lose trades, it would be understandable when you tell the public so that all these newbies would understand that trading is not fun at all. Some traders would always publicize their winnings but would never notice the public about their loses but some would not understand that these people also make lose in the market.
Actually there are those people who do become profitable with meme coin trading specially to those who had been that lurking themselves into those known decentralized exchangers. Yes, it laughable but there are actually those people who do make serious money with meme coin. Its good if they would be able to sustain out but most of the time people who do deal up with meme coin trading or investing will be having that incur those huge loses on which this is the main reason on why i had turned my back into this market just because i have lost too much money with meme coins trading, but somehow despite of these loses but still it isnt that enough for me having the reason on switching into futures on which its not some recommended or advisable also even if you are that good when it comes to spot trading but doesnt mean that you would be that also good when it comes to futures. There are tons of people who had been that blowing up their trading account or capital with futures on which considering that leverage is something that what makes it too risky. If you are someone who can be able to bare up with the risks then go ahead but as much as possible it would be better that we should be at least trying out to touch up spot trading first because this is where you can handle out at least.