Memecoins And Changing The Game

Remember when the first meme coin Dogecoin was created just to laugh at bitcoin. The coin was created with no utility, no road map and no fixed supply, the value was really low and really undervalued for a long time till 2020 when some group of people decided to trade it and it pumped really high. Since then, it’s been one meme coin or the other. The first meme coin or shit coin like it used to be called I ever bought was safe moon, made a pretty decent money from it before it tanked and became a disaster. Other meme coins have been coming up with the same goal of just being a pump and dump medium. The game has been quite nice, lots of people have been printing and making a lot of money from these meme coins, seeing them go to 800X or more. Few minutes I just saw someone’s tweet where they turned their $1,000 to $1 Million by trading a memecoin.

That’s a huge risk, holding for two weeks, imagine if the token had dumped after reaching $100k. Glad to see that the person took their $1 Million profit, because not taking profit on a meme coin is really an unwise decision. In 2022, Bonk was launched and BONK has made huge progress after that. This is because, they prioritized making their community happy, giving their community airdrops. Its utility is not there but the demand has been increasing. The perfect way to also put their community first was give BONK airdrop to Solana mobile phone users. More meme coins are coming and changing the game, making people pump a lot of liquidity into the coins. Imagine a meme coin having $100 Million market cap under 30 days of launch time.

More chains are seeing meme coins getting launched, this is helping the native coins pump more. We can see what’s doing for Solana, seeing what is doing for injective, see what is doing for Ethereum. Although after the meme coin madness is over, we are just going to see a lot of new people who got onboarded into these chains because they wanted to trade the meme coins on these chains. I am guilty, i got into injective because I wanted to trade meme coins on injective.

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