Memecoins are sparking a fresh crypto hype, luring in first-time traders hunting for that next big token that could deliver huge profits.
According to insights from IntoTheBlock, the count of wallet addresses holding meme coins for less than a month hit an all-time high back in March.
On average, memecoins brought returns of 1,312.6%, making them the top performers among leading tokens by market cap. Coins like Book of Meme (BOME) and Dogwifhat (WIF) really pushed those numbers up during this memecoin craze.
There are also stories floating around about life-changing gains, like that one trader who turned $62 into a staggering $2 million in December by investing in a Solana memecoin. This person got into a memecoin called Silly Dragon (SILLY), which had a playful jab at Solana's co-founder Anatoly Yakovenko's Halloween outfit.
Just recently, another trader managed to flip $13,000 into $2 million in just one hour after diving into a meme-based token.
Record surge in new memecoin traders
Honestly, I’ve never seen memecoins as long-term investments, but these days it feels like everyone’s jumping on every memecoin they can find, hoping for that life-changing moment like we read about online. The reality is that only a handful of people hit those outrageous profits, while a lot are bound to face losses, just like with any investment. So I’m curious, what do you all think about this current memecoin frenzy?
With the recent and dramatic increase in users holding meme coins, it is already passing a big message on how cryptopreneurs are ready to sacrifice some bucks in this coins and hope to get a big cash out from them in the short possible time. We have witnessed and seen how meme coins have been performing in the market with few only making it to the next bitcoin cycle. They are mostly pump and dump projects that can make you rich overnight or make you poor overnight. The interest of people in it shows how a lot of people are ready to risk their monies to get big gains in the end. I wouldn't say it is not worth trying but it is only possible if you have the zeal to do it. Nothing comes easy and most life changing opportunities always come with you taking a lot of risks in it. I still believe there are a lot of meme coins that will change a lot of people's life this bull run but while looking to invest in one and the one you are convinced about, make sure you invest what you can afford to lose.
Pathetic and at the same time sad that people keep feeding this scam team behind this garbage project. This is the reason why meme coin is already saturated because theres still a lot of dumb investors that still chasing for that huge profit from this scam coin.
Memecoin is like investing on ponzi. You will benefit if you purchase early becomes other people money keeps increasing your holdings just like ponzi fixed income whenever new members joined.
Meme coin will be devastated once the market corrects again.
they see the success of Doge and Shib still is on top of its game even in the bear market and this i guess made them think it's a good investment if it goes up again. but for long term i think this is for the gullible mind to think holding it for long term is a good strategy.
it is still fun to see your money grow by holding memecoins for now. i have bought some new ones just recently, it's quite doubling already and because i'm still early i guess selling for is not yet worth it.
we won't really know how memecoins managed to survive so long in the market. the most important thing is that they have a community that enables trade to continue to improve.
Doge has been building the market for quite some time. It is not easy for those who have an unlimited number of coins to gain the trust of the community to grow and surprise many people.
More people will indeed be afraid to hold memecoin long term. that's because the risk is too big. but not all memecoins will rise and then fall worthless.
We don't expect that these meme tokens are in demand pretty bad I don't invest on these meme tokens but I trade on dogecoin.
Look at Pepe it suddenly surged first month of March and now it is one of the top 3 memes on the market. I'm sure if there's an airdrop on Pepe they already made a huge profit today according to Coingecko it hit 12809.1% price surge this year.
It's risky to trade with Meme unless you know how to play on the market if you can monitor it 24/7 around march you should make some profit in swings. I heard some people who make huge money from the WIF airdrop.
I disagree with you completely, not every memecoin is a scam project and it's proven that people can invest just only for profits not for usecase from that perspective memecoin is good choice but the risk associated with it high but atleast there is good chance that we can make decent money if we invest in a legitimate project but the only question is whether it's last long or just one time hype.
I too distrusted meme coins and avoided but all I got was the desperation for missing out on such lucrative profit. There are no coins as comparable to memecoins that are giving good returns in short time. Now I'm full on on memecoins specially on Solana chain. I currently own a good amount of BOME, which is outperforming every coin since I bought it and I'm also invested in MEW meme token on Solana, it hasn't yielded me a profit yet but would be a good boost when it gets listed at the top tier exchanges.
I have seen some meme coins explode and die quickly, like pump and bust games. Although they can make you a millionaire overnight, they can also leave you broke in an instant. This shows that many people are willing to risk money in exchange for huge profits. I do not completely deny that investing in meme coins is a bad idea, but it is only for veterans when they have too much experience in this market. Nothing comes easy, and life-changing opportunities often come with high risks. There are certainly some meme coins that will increase in value during the bull run, but remember that you should not invest anything that you are not prepared to lose and it is better to do your due diligence before deciding.
The money is flowing into the meme project and all the projects are flying like crazy, one after another. This is the hot cake in the town, and everybody wants to bite into it, even if it burns their faces. This craze will slow down but will not fade away as i saw many top crypto influencers keeping a portion of their portfolio in the meme coin. So we must admit that meme coin will evolve in this cycle as the old model won't be enough to keep the hype. So investor will be more attracted to any new form of meme project that has some addition which is anything more than just meme.
The person who went from $13,000 to $2 million was either lucky or an insider who knew that the meme would pump hard.
So indeed memecoin when it is in the initial bullish phase will be sustainable hype this will also continue to be fomo by some influencers to continue to increase the volume of transactions on meme, no wonder many people will be exposed to fomo because they think trading on memecoin can be profitable in a fast way, but if we don't know how to let alone not buy at the beginning it will still lose.
Trading with meme coins must be prepared with the risk of all losses when the meme has no value, but there are still many people trying to enter even though they have lost a lot of money.
Sometimes I just laughed when I see people trying to say different negative things about mene projects.
It is true that there are so many bag eggs but that does not mean that we are going to sum all of them as a bad choice. We can make massive profits from holding meme tokens and now we can see that there are so manyemw projects in the market right now because the rewards are very impressive compared to the regular projects in the market.
I am meme coin trader too and maximalist.
If You are looking for some new one -> check this $SURFER <- -> https://surfer.lol -> I hope You will like it.
https://bitcointalk.org/index.php?topic=5491621
Really depends on the investors, but I will be with you saying that we never consider memecoins. It's a bigger reward but the risk is also higher, and some of us are that conservative as far as our money goes and would rather invested on some solid coins.
Ans for the new record high, I'm not surprised, we are about to hit the bull run and so the market is going crazy about this whole memecoins again. And you have to look at it both sides, if there is someone making millions with it, for sure there are investors as well who are losing millions.
I can't really imagine that thing happening now but that seems to be expected because many people are into the look of gems and we know that meme coins hyped gain huge market attention making newcomers interested in it not knowing the high risks await them. Well, we can't deny that many people earned a lot of money from these meme coins and this will influence the minds of others and join the party. It could be a mistake or not but it doesn't matter for others because what they are after now is to earn by any means and even they are investing shitcoins.
If they can afford to lose their money, then I don't think we need to stop them. Perhaps, that is their choice and all of us are welcome to do that.
It does seem as if memecoins are having one hell of a run and it has been enjoyable to see. But the risk remains. They are still pretty much hype-based and the hype might die down eventually so I wouldn't recommend putting all your money in memecoins which new investors might be prompted to do given these cases. However, research is paramount and so is diversification and rebalancing. It has helped me enjoy maximum profits which stand at 162% as I am typing this message.
I mean you saw it already, it wasn't for the long term. Meme coin investors managed to profit only after a couple of hours and honestly? That's probably the longest you should hold most of them since they'd probably crash down to oblivion afterward. And some of these success stories are just one of the god knows how many thousands of traders out there that fail. Not to mention the thousands of meme coins to choose/find. It's kind of a lottery ticket really with a time limit at some point.
Can't even fathom buying a meme coin for $13k really. Unless if you're an insider ofc, worthwhile investment right there.
It attracts many new comers and encourage the old ones to become more active, and this is the effect of the hype and as expected as many are into quick profit scheme. If you are going to deal with the meme tokens, you have to make sure you are ready for the risk and know the possibility of losing your money, know that the hype for meme tokens cant last longer so try to enter as early as possible.
To be honest, I'm not surprised by this considering the craze for meme coins among new investors after they have heard the stories about people who managed to earn millions of dollars with investments as low as $50 or maybe $100 which is an amount that most of the new investors can afford to lose, so they keep trying their luck with each newly launched meme coin thinking one of them might change their life for good.
It's just like a gamble, but most investors are completely okay with it because they want to be among those who managed to become millionaires through some of these meme coins. The craze is unstoppable among newbies, and you can see it all around social media. You will find hundreds of thousands of people sending certain meme coins to the moon, lol.
I have talked about BOME in this platform, how I bought it and the profit I made from it. As of last month, it rained Memecoins and I just kept accumulating them mostly from Bitget as they actually kinda list them early. It was interesting but I never fail to take profit as we all know how memecoins behave. Will be trying another one, KOKO this month and see how it goes