We all know crypto is a wild ride, but some coins are way crazier than others, especially memecoins. From what I’ve seen, memecoins are super risky but can also give you crazy returns, making them the most unstable in the crypto game.
These coins usually pop up as jokes and lack any real value or use case, but if you catch the right one at the right time, they can really pay off big. Take memecoins like Shiba Inu and Floki Inu for instance; they’ve shown some insane returns in a really short time.
It's different now. There are a lot of memecoins that have followed the path of Dogecoin and became successful. There were still some last year from the sol network that have made waves. You're right that it is memecoins that have made a lot of profits for the investors in a very short moment. But the risk that they've taken is so much and too many have became an exit liquidity for the hype that they've taken. I don't like to get into these memecoins anymore, I've tried but got into the wrong ones and I've lost money on it instead of making some.
"Short period of time." Do not forget that. It is the weakness of memecoins because they cannot survive the cryptocurrency market.
I once held some Shiba Inu, too, but it didn't take long before I decided to sell them all. It is true, it could make a buyer earn so much if he knows the right timing and he picks the perfect memecoin to buy, which will lead him to sell it double what he invested. That's what happened to me, but I didn't go as far as repeating that because I am scared it will fail next time.
IMO, once you buy them, you should never stop monitoring them. It will be exhausting, but if it's for profits, it can be done. What I worry about are those who invest in failed projects. Scammed or Rugpulled.
"if spotted out in time" is pretty much where the problem is. And it's way more harder then most people think.
There are probably over 5000 tokens launched each day, and i am not even trying to count how many of them will make you lose your investment. Because let's face it, i would bet on losing every time. So picking one winner gets harder and harder every year. And if you are trying to pick one, you are losing money. Even if we would use our time to weed out 100 of the likely winners per day, you can count how much money that's burning.
Your research results is not far from the truth, memecoins have been the most volatile assets lately and we need to accept that fact alot of them have pumped so high and dump again instantly, this is what have been the most crisis in their market lately, we need to come up with a few other altcoins that are outside the memecoins categories but have also exhibited such actions that make us ti categorised them among the memecoins although the belongs to the other side of cryptocurrency development aside memecoins.