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

project: 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 avatarSean Larkin

Traditional, Blockchain and Crypto CFO - Member of MMBA

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

What might seem meaningless to one person could be the exact opposite to another. To me, the meme coin is not a store of value or a currency, and it has not 'real world' application. So, to me, there is not value in meme coins and I would be concerned about their effect on the market. To others, many others, meme coins provide entertainment, validation, camaraderie and proof of membership in an exclusive club. To those people, meme coins are very valuable. If influencers abuse their reach to inflate the price of a meme coin for their own gain, they should lose the respect of their followers (and lose the followers). They are human, too, so they are more likely just caught up in the same hype we are. The problem is more about the individual who is jumping into a coin that is up 500% in the hopes that it will go up another 500%. We are at the beginning of a huge technological shift which will have a profound impact on the world we live in. The opportunities are everywhere and anyone who gets ahead of this wave has a chance to better their lives. As for effect on market - I think the market will shake off most of the meme coin scams. Maybe a few larger notables will lead to sell offs and maybe even criminal charges. It may seem like a lot more than that if it happens in a bear market and ignites a 25% correction (which was going to happen anyway but no one will say that). I suppose it could look a lot like the ICO bust after the market turned in early 2018.

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

I think the main reason is hope. Hope for a big financial gain (going to the Moon!), or hope for an opportunity to grow within a project you believe in (whether on community side or moving onto team side). I also think it is much more than that. As mentioned, there are some very meaningful rewards from being a part of a meme project, or from being a part of any community. Many people have connected in the telegrams of meaningless chats and made some great friends. The project goes on to fail, but the relationships survive and grow, sometimes leading to new opportunities or participation in meaningful new projects. If you lose a little on the token, but received a lot in the form of entertainment, education, friendship and so on from it; you may not have lost as much as it first seems. People forget also that there are many places in the world where joining a meme community might be one of the best chances to improve their lives and the lives of their loved ones. The opportunity to show one's skills or character in a community (before it is meaningless) could be life changing.

What is the future of meme coins?

Bright. Less rug pulls and more decentralized communities with their own coins. I do not see why any group will NOT have a meme coin in the future. This coin will also contain the functions necessary for that group.

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 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 avatarZahid Hassan

I am a professional crypto trader

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

Yes. Meme coin is maximum scam and this is really bad for newbie. And for that also many treader lost their many fund. And meme coin have huge rug pull

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

In my opinion people invest meaningless project for extra big amaunt of profit. Because that project show big grow ,not all projects. But some projects really showed good results

What is the future of meme coins?

In my opinion meme coin haven't any future coz meme coin haven't any fundamental things. And usecarse . And maximum meme coin project come for scam community

article avatarSubhi Ash Shalih

freelancer

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

No! The crypto market will only be influenced by a few things that each coin has, such as network security, number of nodes, increasing demand, fiat currency inflation, production costs, and regulation.

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

Nothing can beat the fun. Meme coins are indeed just a fun thing that can give them the "holders" of unlimited happiness. Although not meaningful, of course every meme coin has its own advantages. If their project grows big, of course it will be very profitable for all the holders, besides the fun being channeled. Like SHIBA INU, the holders are happy to own it and get great profits.

What is the future of meme coins?

The meme coin has a bright future. This trend is due to the large number of meme coin fans around the world and the development of information technology which is something that everyone needs. In addition, the growing success of NFTs has made digital assets very valuable for everyone to own.

article avatarYogesh Ukhade

Process Worker

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

Yes. It does have negative effect on the market. Because these projects have no real values and they made as a joke and has no future value. Also there is no significance or real value for the project.

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

People follow and invest their money because they want to make money quickly and easily and these projects offers these benefits. It is meaningless.

What is the future of meme coins?

The future of meme coins are seems to be very bright. Though it offers no real values but because of many celebrities push their value to gain popularity and publicity by promoting these coins.

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 avatarShijin T

Investor

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

Yes, in my opinion. Bumping meme coins leads to improper coin ranking, this trend continues, it has even worse impact. People gets this question in mind whether to invest in a meme coin, which can be pumped well one day or to rely on long term projects. At least a portion of the investment goes out of coins with real use cases to these meme coins

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

People who believe in pump-dump scheme, thinks one day this meme coin which is of no use gets some pump based on celebrity tweets or other social media endorsements. People take part in such scheme only to make some quick bucks, they don't care about long term vision of the project.

What is the future of meme coins?

Meme coins are in trend now. Even though I don't really support this. Meme coins will continue to be part of crypto currency ecosystem and occasional pumps boosts meme coin adoption to large community.

article avatarm yahya

mahasiswa

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

no because just liitle liquidity and market crypto bigger effect if up and down bitcoin. many more alt is the bigger market cap. market very effect with bitcoin

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

really, i dnt know its happen, maybe peoples have different thinks with this token, should big think for experience with crypto bcause its very fluktuative

What is the future of meme coins?

i dont know, but i think this good project if dev have good and big money in the token for future, all's always dev have good idea and good experience with token

article avatarMoses Akomolafe

Software Architect

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

Somehow, it is a way of pushing the project. Scammers also use this approach through publicity and influencers. Best is focus on solid project

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

Simple bump and dump approach for quick money based on popularity. impatient to wait for a long time of viability. lack of good project in the blockchain space

What is the future of meme coins?

I cannot really predict but the ones with strong community support will stay strong. NFT may compete with its relevance from the other side. They are good for fun

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

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