Meme Coins: Quick Money or play people for suckers?

Watching Dogecoin transform from a joke into a $28B market capitalization has made some people envious. But here's a heartbreaking truth: over 5000 types of memes, 99% have died.

Let's let the data speak.

• Doge dominates half of the entire memes market, while the other 4999 coins combined are not as strong as it.
• Shiba Inu, Pepe, and Trump coins sound sexy, but essentially they rely on short-term speculation and FOMO emotions.
• After Doge reached its all-time high in May 2021, it dropped by over 50% by the end of the month.

To put it bluntly, memes are closer to gambling than investing. Choosing which coin will explode is not much different from buying a lottery ticket. There is no fundamental support, no technological moat, it all depends on who tells the best story and who can create the most buzz.

Want to get rich? Instead of betting on the one in ten thousand chance of meme coins, it's better to look for projects with real value. This wave is not to say that meme coins can't be played with, but you need to recognize what they are—purely speculative items, not long-term assets.

What do you think? Have you copied any memes?