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

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.

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.

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.

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

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

Junior Account officer

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

Yes it does. Most of this meme coin won't stand the test of time, though pumping it attracts many investor's interest which leads to the increase of it's price but when whale (those that buys in large quantities) starts buying, if they decided to sell, the price will fall drastically and if the price starts going down for fear of it crashing, many more will sell.

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

To make money. Get rich quick analogy. Most projects have potential of doing x2 of their initial price and even more. People sees this as opportunity to get rich thereby going in as they see people cashing out from it

What is the future of meme coins?

The future is blurry. Not all will make it into the future. Some will not stand the test of time. Only few will make it but as it stands Shiba is making wave currently and it seems to be gaining ground.

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

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

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.

Junior stake

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

no. The collapse in the price of digital currencies, including bitcoin, and others still occurs because there is no positive sentiment that can push back and make crypto prices rebound. So it's not because of the existence of meme coins on the exchange.

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

I think people who invest in projects that are meaningless are usually deceived or lack knowledge about the investment that is being carried out.

What is the future of meme coins?

better take a look at the first meme coin, Dogecoin. DOGE was created in 2013 as a joke, mocking the many new, often poorly thought out digital currencies on the market. Its creator, Jackson Palmer, wanted to see if a cryptocurrency based purely on internet memes could also capture market enthusiasm. As such, the Dogecoin branding is borrowed from a popular meme that emerged in 2013. The meme featured a frightened-looking Shiba Inu dog with a phrase written in the wrong English that has now become an icon. Examples such as "how money" and "very currency". The popularity of Dogecoin inspired the creation of other projects — especially during 2021 — with many examples of the best meme coins using different types of Inu as mascots. The community is at the core of all the top meme cryptocurrencies we support at OKEx and, in many cases, their greatest fundamental asset. Elon Musk and Mark Cuban are among the millions of loyal fans of the meme coin. The meme coin community is also associated with charitable donations. In early 2014, Doge4Water organized a fundraiser to help provide clean drinking water in Kenya.

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