I agree with this.
Memecoins should not be paid attention to. Almost all of the new ones are only feeding insiders and concentrating wealth to people who simply don't care about other people losing money (and are indirectly taking from these people). When people who aren't insiders learn to avoid them, the fad will die.
Exactly, because in essence, meme coins are worthless tokens that merely capitalise on the current hype, with the sole purpose of enriching a select few. so, when the price rises in line with their initial targets, they will immediately sell their holdings of the token. This, of course, will trigger panic, leading to mass sell-offs, and ultimately causing the token's price to collapse. New buyers who have no understanding of the utility or fundamentals of the token will simply be throwing their money away on meme coins.
Thanks guys. A few projects were legitimate and they have a strong natural backing behind it. DOGE comes to mind and PEPE, but most memecoins were created to artificially create a narrative that didn't exist. Both DOGE and PEPE were very famous memes before their token was created, and they captured its own audience naturally.
It's obvious we are saying the same thing, memecoin is not for HODL. I know of the Trump coin that was so hyped and it pumped massively just for few days before it went downhill. Just imagine someone investing massively on that. He would probably be crying by now with little to no hope of recovering his capital. When Trump is out of office, that will even be the end of that coin.
Realistically your chances are probably better playing with your life savings in a casino than to HODL a memecoin.