doge: Bumping the meme coins price. Can it affect the crypto market?

doge: Bumping the meme coins price. Can it affect the crypto market?

< Show Wisdom Collection: Bumping the meme coins price. Can it affect the crypto market?article avatarAkeem Lekan

Community manager and marketer

Does bumping the meme coins price have any negative effect on the market? Why?

There is no point in eradicating memes coin, the fact that many people benefit from it. Meme coin have added to the wealth of many people, some people build house and bought a car with memes coin, such as, Safemoon,Shiba Inu and doge, meme coin has been helping the minority (poor) people who can not afford some coin at higher price, some people can not afford Bitcoin at $30k but with the help of memes coin they bought with $100 and it later give the a return of $3000 dey where able to buy some ETH and some Bitcoin (Satoshi). Inaddtion, take a good look at Bitcoin cash that was rebranded to ecash with a ratio of 1:1000 unit, that is, if you hold 1 Bitcoin cash, you will be given 1000 ecash, memes coin stand to be one of the redistribution of wealth, it bring unity and equality to human mankind. Source (https://cointelegraph.com/news/bitcoin-cash-abc-rebrands-to-ecash-embraces-proof-of-stake-and-2-decimal-places) In conclusion, with the above explanation I believe I'm able to convince you but not to confuse you that bumping of memes coin price does not have negative effect on the market. Thank you.

Why do people follow and invest their money in projects that are meaningless?

Anyway, the is a good question, to my own research I believe there are many poor people in this earth, many people believe in what they can eat, that's why they follow where there is money. Some even believe that if a project is lauch today and the price is $0.000000001, they believe if they can buy $10 worth of the that token, in the next 2 years the price might be around $1, by then they can sell lol, and they didn't do any FA and TA, they've forgetting doing some research, checking a project usecase, technology,team, marketcap,TVL, marketing team, partnership and the so on. 2. The reason why people invest in project without usecase is because of lack of how Blockhain works and the the crypto currency space as whole, many people don't understand how the Blockchain works, that's why I said some people are in for the money. 3.some believe in their Mentor, whatever their mentor told them to do, is exactly what they will do.

What is the future of meme coins?

As a financial analyst and a trader I believe that 90% of meme coin will fail, 5%will struggle to survive while 5% will survive the race. Just like 2011/2012 when different coin was created without usecase but only 3 of those coin are still intact till today(ETH, Ripples,Litecoin). Some are struggling now while many have fail.

article avatarIfedayo Gbenga

Blockchain enthusiast, interested in crypto projects that are solving real world problems.

Does bumping the meme coins price have any negative effect on the market? Why?

Honestly speaking, there are alot of folks in cryptocurrency space who think crypto is a get rich quick scheme and are always on the lookout for new projects that can give them 100x gain in few weeks or months. Fortunately meme coins are in this category due to the unusual craze around it. We all understand that whatever doesn't have usecase and depend on hype will ultimately fail at the end of the day. The recent surge in meme coins like shiba for instance is going to draw more crypto newbies in, because they feel they would double up their investment quicker than what other solid projects would. On whether meme coins would have negative effect on the market, the answer is YES. Alot of people especially ignorant newbies will get burnt and that greatly impacts the fear and greed index of cryptocurrencies, which ultimately impacts price

Why do people follow and invest their money in projects that are meaningless?

For quick gains absolutely. People who want to get rich overnight and who feel crypto is the right tool to bring them that quick wealth do so

What is the future of meme coins?

I really can't say, i feel they won't succeed, but if a meme coin such as doge is getting adopted as a means of payment for goods and services, then I never can tell

article avatarShmagi Tsertsvadze

Menejer

Does bumping the meme coins price have any negative effect on the market? Why?

do not think it will have any impact on the market because every coin is individual! The price of any coin depends on both advertising and investment. The more you invest the higher the price of the coin

Why do people follow and invest their money in projects that are meaningless?

Probably because they hope that their investment in the distant future will bring some benefits think it is better to invest in a popular but not so expensive coin in DOGE . think it is better to invest in a popular but not so expensive coin in DOGE

What is the future of meme coins?

Has a very bad future! I think all the investment in it will be lost! It is not enough to just do advertising, you also need to invest. It is better to invest in already recognized coins BTC or DOGE

article avatarMohammad Muhtar

Senior

Does bumping the meme coins price have any negative effect on the market? Why?

1. Any fudder.. example fud from China country.. so they sell they coins.. 2. The projects is scam people on the world so members is lose fund

Why do people follow and invest their money in projects that are meaningless?

Investing gives your money the potential to grow faster than it could in a savings account. If you have a long time until you need to meet your goal, your returns will compound. Basically, this means in addition to a higher rate of return on investments, your investment earnings will also earn money over time.

What is the future of meme coins?

Meme coins Price 24h 1 Dogecoin DOGE $ 0.2410 -2.97% 2 SHIBA INU SHIB $ 0.0000267 +1.79% 3 SafeMoon SAFEMOON $ 0.0000018 +0.20% 4 CumRocket CUMMIES $ 0.03240

article avatarCrypto Tygas

dev

Does bumping the meme coins price have any negative effect on the market? Why?

Actually it's better cause at the end dollars ends up in altcoins or btc anyways. Of course if markets starts tanking the meme coins goes down first and a lot of guys go under the water

Why do people follow and invest their money in projects that are meaningless?

If you make money it does not matter how you make it. BTC is boring and is performing worst in top 10. Everybody is looking for a bigger gains

What is the future of meme coins?

It will become more and more popular in short term, tik tok generation starts making money and putting theme in doge, shiba and safemoon. If they will become profesionals maybe they will put money in more stable projects

article avatarMike Akerele

Crypto Trader Instructor, Coder and Blockchain Developer

Does bumping the meme coins price have any negative effect on the market? Why?

Yes, bumping the meme coins price have negative effect on the market. Because... Good projects with use case sometimes are left alone while people focus and invest most of their money in a meme probably due to ignorance on the sides of newbies to Crypto.

Why do people follow and invest their money in projects that are meaningless?

People invest their money in projects that are meaningless mostly due to ignorance or due to FOMO(Fear of Missing Out). And sometimes done by expert traders because of greed of more profits especially when the coin is shilled by an influencer. i.e DOGE shilled by ELON MUSK.

What is the future of meme coins?

Meme coin has no future unless if given a use case. Because... Most traders we have today understand fundamentals and meme coin has no future on their side as everyone knows a coin without a solid use case is not good for long term Investment.

article avatarRony Hendra Prayoga

Freelance

Does bumping the meme coins price have any negative effect on the market? Why?

Yes, a lot of new crypto buyer after meme coin price rise high, the negative effect is, few from those people are in bad economical condition before buying, use their saving to buy and hope can tak profit from it, but what happened is beyond their imagination, when they following other to buying then the price suddenly drop before those poor fomo's selling, ironic, but that's happen.

Why do people follow and invest their money in projects that are meaningless?

In my opinion, they are fomo, they see btc price right now, and they hope those meaningless project token will be to the moon as btc price as soon as possible, but they forget something, which btc can reach those price right now not only from 1 night/week/month, but years.

What is the future of meme coins?

Im still optimist that doge will have bright future, as long as their competitor (sample: shiba/etc) dropping and keep dropping, ameen, go go doge to the moon

article avatarKrit Yoorit

Bussiness owner

Does bumping the meme coins price have any negative effect on the market? Why?

I think coins are meme is the color of the cryptocurrency market And it's a challenge for investors. Without the meme coins, the cryptocurrency market will lack challenge and color. Including meme coins also creates opportunities for new investors to learn and study before trading other leading coins.

Why do people follow and invest their money in projects that are meaningless?

It is possible that what people see from different perspectives. The social media trend of thought influencers is also part of the decision-making process. And add interest to the coin memes. By looking only at short-term profitability according to social media trends and the people he cares about

What is the future of meme coins?

Looking at the past Doge coin, it would be a colorful and short-term investment with high volatility. But there are also people who like to take risks in that challenge. and new meme coins It continues to hold up again and again.

article avatarShiraj Khan

learner

Does bumping the meme coins price have any negative effect on the market? Why?

Enjoy seamless experience on APP We're 10x faster on APP INSTALL APP ET TOP SEARCHESTOP STOCK RECOMMENDATIONSIPO ALLOTMENT PROCESSSENSEXNIFTYCURRENCY CONVERTERSBI SHARE PRICE CRYPTOCURRENCY Read on App Memecoins and memestocks: Same madness, but worlds apart fundamentally Reuters Cryptocurrencies are pretty trivial to create. Thousands are being created a day. The challenge is in getting them accepted. Synopsis When the price of a stock like GameStop goes to the moon, its effect on the actual underlying business of the company is not affected much by it. But, there’s no such tension with a memecoin. By BloombergLast Updated: May 11, 2021, 09:51 PM IST1 By Joe Weisenthal By now, everyone has become familiar with meme-assets. Memestocks like GameStop. Memecoins like Dogecoin. There are certainly a lot of similarities between them in terms of how the stories spread and how the prices move. ADVERTISEMENT But memestocks and memecoins differ in one pretty fundamental way. When the price of a stock like GameStop goes to the moon, its effect on the actual underlying business of the company (selling videogames at strip malls) is not affected much by it. So you can reasonably talk about the value of the stock being disconnected from the underlying fundamentals. my watchlist my news widget There’s no such tension with a memecoin. In fact, it’s arguably the opposite. As a memecoin grows in price, it’s actual fundamental value grows along with it. Or at least it theoretically can. See, cryptocurrencies are pretty trivial to create. Thousands are being created a day. The challenge is in getting them accepted, such that a person will, you know, actually accept a coin in exchange for some service. Thus, by bringing more people into the coin, a price rise actually has the effect of building out the network and — at least theoretically — making the coin more usable. Rising prices have other benefits as well. You theoretically could do a $1 million Dogecoin transaction right now with almost no impact on the price. According to Coinmarketcap, nearly $20 billion in Doge has been traded in just the last 24 hours. So in addition to expanding the universe of people who theoretically might accept it for a transaction, the rising price makes it more transactable without having an impact on price.

Why do people follow and invest their money in projects that are meaningless?

Many seasoned investors can tell the difference between an amateur investor and a professional one just by talking to them. It's the language that matters. The following are some common investing statements that you should try to avoid using, as well as some helpful alternatives that will not only make you sound more knowledgeable and wise when discussing the markets but should also help you think more like a professional investor.

What is the future of meme coins?

"With the rise of NFT’s and alternate cryptocurrencies, meme coins such as Dogecoin (DOGE), Shibu Inu coin (SHIB), and Mona coin (MONA) are becoming increasingly popular. Traders can find all the major meme coins here. But, what is the future of meme coins and what affects their market price? In short, the future price of any meme coin is strongly based on the community invested in it and the popularity of that coin at any given time. Meme coin communities can help spread news of the coin, get others to invest, and make a coin go viral in order to help drive up the price.

article avatarOnda Ijo

Optimistic

Does bumping the meme coins price have any negative effect on the market? Why?

Yes, because the growth of a meme coin is dependent on the momentum online. That means there's a possibility of dump in the market if the is no solid momentum to bump the price and sometimes some coin are been listed on the market with a little liquidity an at a long run you see them collapsing causing investors to lose their fund.

Why do people follow and invest their money in projects that are meaningless?

I'll say, people don't want to be left behind anymore because a lot of things is happening in the cryptosphere especially checking the history of dogecoin with no use case, creating one for itself today, an now the era of NFT yet people are still investing so no one wants to waste any opportunity again irrespective of the risk in it.

What is the future of meme coins?

I can't predict the future of meme coins, but I think the have a great future especially with the bumping of doge coin price since ending last year and now Shiba inu and the rest of them am just hoping to see them performing more than other Alt coin.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.

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