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

projects: 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 avatarElisée Yao

cryptopreneur

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

Bumping the meme coins price does not have negative effects on the cryptocurrency market. Because the market is not made to be tamed by parties. If New rules and crypto developments are daily added and each cryptopreneur is adapting his knowledge and earning methodes to it.The traditional is always touched by daily researches.

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

People invest their money in meaningless projects because they are tired of doibg the same things they are used to years back.They learn ,try and innovate.Discovery is a curious word we all get in.Meaningless projects exist just from the debut.we All saw bitcoin start

What is the future of meme coins?

Meme coins have a great future,Weekly people arz getting more attracted,the more audience the more projects ,The names given don not count for people it is the unique opportunity it offers.

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 avatarObi Anthony

Senior Full Stack Developer

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

Yes, I would say that bumping meme coins have negative effect on the market because investors surely will have much to loose on the long run when the market relaxes or the charts corrects the bumped price tends to dump back to it's inconsequential value which is next to nothing.

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

One reason would be "Pressure". The fear of missing out of what you think or see others profiting from will make you loose rational thinking and join the band. Another reason would be because of promotions from a loved public figure, you wake up one morning to find out your favourite celebrity is talking about one particular coin, surely you'll want to do all you can to acquire said coin.

What is the future of meme coins?

I see no future for meme coins if they continue the way they're are going currently, unless the people behind them start identifying their coins with projects that can help change this world.

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 avatarMarcin Szmyd

IT Administrator

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

The meme coins have a huge impact on the crypto market, which was clearly shown this year. How great a manipulative risk there is here is expansive. An influential person can take complete control of pricing here. A lot will happen here, but it is part of Cryptomarkt that there are no regulations here that regulate such situations. Some meme coins may prove useful one day, but so far it's just manipulation and moneymaking. The coins will not necessarily bring new users to the crypto market either, because many will lose their money in the process and will never do anything with crypto again.

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

People invest in these projects because they want to make a lot of money quickly, which has actually worked in some cases is now being repeated over and over again, but at some point the market will be saturated and collapse.

What is the future of meme coins?

I think only two or three projects will remain, everything else will be forgotten. There are far too many projects that have no background. The market doesn't actually need meme coins, they will destroy trust in crypto.

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 avatarRobert Gazvoda

Crypto and startup advisor | Project developer | listing agent

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

Of course he has it. A lot of people ask me for advice on whether to invest in some new MEME coin. My answer is no, unless they want to gamble. I know a lot of people who recklessly followed FOMO and got stuck on such projects, and lost a lot of money. Of course, some have earned a lot, but there are few of them.

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

The main problem is FOMO and of course blindly following influencers and “crypto experts” who have their own interests to make money on such naive people.

What is the future of meme coins?

Most of them will fail and their value will go towards zero. Some of them, however, will be kept alive by their community by finding them useful. Let’s say for use in games.

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

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

Experience Experty at its fullest

Join to unleash the power of crypto wisdom and never feel FOMO again.

Sign up