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

dogecoin: 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 avatarMarvelous Adebowale

Financial analyst, blockchain engineer and a frontend developer.

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

Well for me, the meme coin itself is necessary for cryptocurrency general market capital to boost up. This is because, meme coin gives every dick and Harry an opportunity to bring into the crypto space his or her immediate community thereby expanding awareness and increasing scale of investment as well as understanding and adoption of cryptocurrency. I therefore strongly believe that, when considering positive or negative impact of meme coin to cryptocurrency as a whole, one needs to put in mind the scale of the cryptocurrency general market capital, the number of awareness it's contributing to the crypto space and as well it's highly volatile nature which further express what an actual market connotes. One such perfect example of a meme coin that's doing so great is Shiba Inu, among others like fegtoken, pig and some few others. Ofcourse we can not overlook the downside of meme tokens in terms of the many rugpull and scam project that have come and go or those still in existence. But if we are to condemn meme coin because of the wrong use of cryptocurrency technology by some who lacks the understanding of the purpose of crytocurrency to the world, then we are simply cutting off the lubricating oil from a running engine simply because it looks dirty. Infact, one should consider putting an end to all currency of the world if we are to judge by that standard because all Fiat currencies have in one way or another experience misuse either from government, its agency, citizen or worth a view. Thus as a more resolute way of judging after considering the up and down side to meme coin is that, bumping the meme coin price does not imply a negative impact on the market

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

This is because they wanted a quick return on investment which most established coin can't promise in a matter of hours or at most case few days less than a week of investment. As the old saying goes; "people would believe a lie because they wanted it to be true or because they're afraid it might be true" People so desperately wanted meme coin to fulfill all that was promised in its roadmaps and whitepaper and to reap it effect on price changes as quick and as soon as possible. Often times, few have been lucky to buy early into such meme coin and made a massive return, while others were just victim of such investment. People most times seldom look at a good project with prospect because it doesn't tend to their immediate needs. In a capsule way of sending the message across, I'd say; "The World is hungry, so hungry from the faming caused by the old system of currency flow in so a great a way that even a robust bag (whale) could nolonger contain their hunger this in turn leads to greed for some and for others a further starvation as they're yet to even make a break from whatever their national fiat has made of them"

What is the future of meme coins?

Meme coins to an extent may survive as an entity of NFT market. However, instead of seeing any clear future for meme coin I rather see them as an harbinger to the future of cryptocurrency as a whole in terms of their contribution to Adoption and awareness of the crypto - age. Until cryptocurrency is generally accepted and adopted by nations and citizens of the world, meme coin may continue to thrive in the absence of regulations and would in fact help in the development of many Altcoin as well as the general market capital of cryptocurrency as a whole. Most widely sought after token now adays were once regarded as just a meme coin from ethereum, to dogecoin, among others. Thus, meme coin truly would serve as harbinger to the future of Altcoins but would remain likely useful in the NFT market place, but on it's own, it would slowly but surely fade off in the presence of strict rules and regulations.

article avataradnan oktay

ACCOUNTANT

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

Meme cryptocurrencies are the focus of attention for 2021. Meme coins have received solid support from popular businesses in various industries.

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

hope is the bread of the poor. crypto has become a gateway for people who hope to make easy money. Also need to keep up with the future.There is an unstoppable growth day by day

What is the future of meme coins?

Where there is smart money there can be protocols and exchanges, while sometimes dumb money wins in meme tokens. As we reported in May, a crypto trader named 'The Kennel Master' successfully converted $1,800 to $3.5M in just a few months by just trading dogecoin. It wasn't all upward travel. The Dogecoin market then stalled and some tokens were withdrawn, wiping out a significant portion of Kennel Master's earnings. To underline the danger, these tokens are data provided by Kennel Master showing that some of these dogecoin investments are rugpull or scam.

article avatarEmma Edo

Student

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

I would say the rise in the meme coins price will not have a negative effect on the market but rather will have a positive impact on the market. Because the bump in meme coins price show that these coins are not totally worthless and can have some worth. Those that invested in it will not totally lose but have something to show for. Due to the rise in its price, the confidence of those that invested in meme coins will not be shattered and they will be glad to invest more in crypto market.

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

Some People think of it has a way of having fun. Despite knowing how meaningless the project is, they still invest in it in order to have fun. On the other hand, some didn't know that those projects are meaningless. They think they are investing in real project which in turn will yield profits for them at the end. This the are the novice, they are less informed about the project.

What is the future of meme coins?

Meme coins have a future if it continues the way it's going. There is a future for meme coin; like dogecoin which last year was not even worth 1 cents present have its price 12000% and show good sign of growth. So if meme coins continue to show it worthfulness many will continue to trade and invest in it.

article avatarDelia Retno Gajatri

Trader

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

In my personal opinion, meme coins don't always have a negative impact on the market, because for investors this is an option, it can even be an alternative investment that can bring profits when the price of Bitcoin drops. Example : Dogecoin and Shibainu

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

They try their luck at the same time look at market trends, where this is an opportunity when the market is down, sometimes there are actually some altcoins including types of memes that can gain profits

What is the future of meme coins?

Although meme tokens are fundamentally not good, but this depends on the community itself, especially if a meme token has good fundamentals and utility, it will certainly have good value in the long run.

article avatarAdam Witkowski

developer

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

I think that it has no effect, it's just a temporary boom, looking for the easiest line of resistance to success, which has no chance of being anyway, because all these meme coins are worth on their funny place no bank or financial institution will recognize it as an entity for further cooperation :)

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

because most of these people do not have a green idea about the cryptocurrency market and count on profits from space, which the market will later verify and show that, however, shitcoins are one big cabaret and they do not exist at a longer stage of operation :)

What is the future of meme coins?

only Dogecoin :) the rest are loud barking mongrels, which may once have amused but now they are already starting to irritate by littering social media and various types of cryptocurrency portals

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 avatarOkeoghene Udokroh

Engineer

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

It doesn't have any negative effect rather it's a medium of introducing people into the world of crypto. The large numbers of meme coin brought about the knowledge of crypto to alot of users who never knew the potential of crypto. Thanks to dogecoin which sparked the plug

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

No project is meaningless and people have their choice. For example, look at the nft market, it is pointless but it's moving waves. Every coin has an hidden potential

What is the future of meme coins?

I see meme coin doing extremely great in the future. The meme industry is expanding and more investors are bumping into it. It may probably take over the crypto market

article avatarDustin Bogart

Technician

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

Yes Bu.ping the meme coins can definitely have a large negative effect on the market. I.E. Dogecoin huge rise due to a certain famous persons tweets only to fall yes a few people got quite lucrative rewards from dumping before the same person caused a massive drop in the market as he dumped and added to his already massive accounts profit. So definitely be very careful if you are a trend hopper because there is no real stability in the meme coins vs the stable coins. I do not believe this will be the case in the near future if these meme coins somehow add a use case in there projects.

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

Simple answer people are on followers a few rise up to lead a percentage of these leader look at the easy money leading sheep to the wolves this is the reason so many projects start with the best energy and within 6 months are abandoned causing people to lose all invested money and even worse time promoting. This is a main reason it has taken this long to get crypto mainstream in valued currencies across the globe.

What is the future of meme coins?

The future is non existent if they do not find an actual use case for these meme coin projects a trend will only be good for "15 minutes of fame without the solidity of use case.

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?

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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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