Here's a quick rundown of MEME coins economy. It is composed of pump and dumps cycle that leaves countless of late adopters in complete ruins, and hurt the entire industry.
The entire value system of a Meme coin is based on short term hype until the project promoters cash-in massive gains and move on to new Meme coin (the marketing budget will eventually run out at which point it's the end of the Meme coin growth). As far as I'm concerned, these people should all be in prison. I'm not sure why the SEC is going after legitimate projects instead of these blatant scams.
Meme coins are like movies, they have a short intense burst of value, and then slowly fade away in oblivion. Do you recall some of the movies you have watched 20 years ago? I remember a tiny fraction of them and most likely would never watch them again except for a tiny handful. This is what the lifecycle of a Meme coin, and I would argue that it divert financial value away from legitimate sustainable projects to a quick cash grab. It hurts the economy in the long run. I'm convinced 99% of Meme coins will not be performing better than they already have previously once the next bull run comes. Meanwhile, BTC, ETH, and real utility projects will consistently have higher and higher highs at every bull run.
You have to ask yourself, will join invest in Meme coin in the hope of stealing money from someone's grandmother for a get-rich-quick scam? Or you will invest in legitimate projects that will perform better on a longer time horizon?
You can enjoy the giggle of a Meme coin without investing in them, but as far as I'm concerned, if I want entertainment, I will just go to the cinema and watch a movie instead of contributing to stealing money from people who I would prefer would keep investing in the crypto industry instead of getting scammed once or twice and then never coming back. Show Less
