People Are Looking For The Next ...

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Today I came across this tweet by @CoinMarketCap, showing what people based in the USA are searching for. This is the list of the TOP 10 tokens, based on traffic, change in traffic and search volume.

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The Famous Top 10 List

At first glance it looks like a pet store list but we all know it's not.

Shame on me, but I've only heard of 3 tokens on that list, one of which is obviously BTC. The rest I have no clue what they are, I suppose these are the new meme coins of the future. Yes, I admit my ignorance here, bravely.

If you look at how people reacted to the list under the Tweet, you see comments like "This is an absolute embarrassment to crypto" or "Wtf am I even looking at" or "SHIBA TO THE MOON" etc.

Now I'm pretty sure of those reading the post, some of you may hold one of more tokens from the list, while others don't. It's ok, this is how it should be, each to their own, no one can tell you what to invest your funds into, it's your responsibility, you make the decision and suffer the consequences, good or bad.

The Trend

Ever since Doge coin started to make waves, I started to follow the evolution of it to be able to understand what's going on. Doge coin has been the subject of Elon Musk's game, therefore it had high ups, deep downs, one after another, depending on what mood Elon was in at the moment of tweeting. Some have become millionaires on paper, others have become millionaires in real life as they knew when to buy, how to buy and when to cash out.

This is the reason why so many are hoping they can catch the next gem early and make millions. This is why these coins are appearing like mushroom after the rain.

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If you look at the total marketcap, these coins are not in the top ten, actually only Doge is on the list and there's a high chance these coins will never reach any considerable marketcap.

What's The Plan

Before you jump to conclusion, I'm not part of any team developing these coins, nor have I any inside information. This is my own opinion and my theory about how I see this situation.

So as I said, people are divided are into these coins, while others, some don't even what to hear about them. Some hardcore BTC maximalists are voicing their negative opinion about these coins, while they are trading them short term, to make a profit. These are definitely not assets you want to hold long term as the risk for their value to go to zero is extremely high.

People Are Looking For The Next ...

So what's going on here? There may be a high level of manipulation in creating these coins. As long as there's demand, there will always be supply. Attracting newbies through these coins, who are looking for the next gem, with the hope of becoming millionaires, by investing as little as $100 for 1M coin, that could 100x in a short term will always be appealing. Knowing when to short a large amount of coin when you know it's going to crash is also appearing to those who are not new to this game and looking for the next scalping opportunity.

The problem is, when there's a market crash, small cap alts get crashed. Those who are scalp trading these coins are taking the funds invested by those who are new to crypto. Doge has had a huge impact and has been attracting many people that have no crypto knowledge at all. Once they lose their money, the chance to invest more is little to none. Those funds most likely go into BTC or the major alts.

Only time will tell what future these coins will have, but I would be very careful with investing large amounts in these. People are looking for the next gem, hoping to catch it early, but just as fast they can lose all the investment.

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Look at SHIB now. At the time of writing, you can buy 14,000,000 SHIB with as little as $103.6 and there's a high chance there will become more cheaper in the upcoming days. Would you invest (or gamble) with $103.6? You can become a SHIB millionaire.

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Doge is at a support level, but if this level is lost ... quite many people will get hurt.

I'm still not eager to lose money with these coins, so my position hasn't changed. I'm going to stay away from them. There are other good projects to invest in.


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I'm not a trader, but I was sitting here drinking a cup of elderflowers tea when I saw your post and wanted to tell you thanks. I like it and I'm drying some blossoms to have for tea this winter.

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You're welcome! Now you know you can trust my suggestions :)

I'm glad you like it, it's very good. We have dried a good amount for this winter.

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Trust you? Always. I have a friend who will be off in the woods this week and I have asked her to bring me some to dry. It will be good this winter!

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Don't feel bad, I haven't heard of most of them either. That does not mean there arent some good ones in there, there might be. However, to jump on projects is tough and there are already enough (for me) that are progressing.

Certainly people looking to trade and catch a 4x or 5x in a short period of time might be able to do it. Trading is a tough game as many who torched trading accounts will attest.

To those who can do it, my hats off to you. For the rest of us, still with what works long term.

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Wise words my fiend. Time will tell which of these projects are solid enough to resist the pressure. Choosing safe projects is my no. 1 priority as well. Scalp traders can have fun with quick trades.

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I also just recognize a couple of those tokens. When I look at the whole big picture, it just looks far more like "playing the lottery" to me than it does actual investing. And so, I would not put any more money into that whole circus than I would lottery tickets... which is pretty much zero!

I'm just going to keep it closer to home and focus on our own Hive-based tribes... and even that is starting to look a little rocky around the edges... at least in places.

=^..^=

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When I look at the whole big picture, it just looks far more like "playing the lottery" to me than it does actual investing.

That is exactly what it is.

Hive tribe tokens are good but some of them starting to not have a future anymore.

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What you noticed about the top 10 coins listed in the market cap is reasonable, however is not something to draw conclusion because there is no valid info concerning what's going to happen next.

Talking about your chart concerning Dogecoin the coin is at risk right now because if it falls below that support line it will be disastrous where it will fall down to.

Thanks for the update.

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however is not something to draw conclusion because there is no valid info concerning what's going to happen next

This goes for every coin in general, so ....

And the other part of your comment as well. Losing one support level and going to the next one is disastrous for everyone with every coin.

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My god, that list is embarrassing.

So many n00bs are going to get REKT this cycle on memecoins.

I've been trying to encourage the LeoFinance community to write about serious projects on the @crypto-guides account, but maybe I should instead be focusing on these.

Thanks for sharing :)

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So many n00bs are going to get REKT this cycle on memecoins.

Unfortunately that is a highly possible and I suppose that's the reason these are created one after another.

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I bought 100 million tata for only 3 dollars, if it goes up even $0.005 I will retire...

The funniest part of all this is the cheap DOGE copies that keep popping up.

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(Edited)

if it goes up even $0.005 I will retire...

Lol, probably that's what everyone who is investigating in these coins is saying 🙂

However, good luck, I truly wish you make a good profit though.

These Doge copies are popping up for a good reason and that is what you said above. People are investigating in them, no matter how rich or poor are, because they can buy millions hoping to become millionaires, while with BTC or ETH you can't achieve that anymore. I wish we know which one is the one right?

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LOL If you knew which one was the right one, it would soon become the same as BTC or ETH hahaha.

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Congratulations @erikah! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You have been a buzzy bee and published a post every day of the week

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

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I don't understand this reality, honestly.

I've been looking into a few these coins. Not just SHIB either. It seems other people have as well.

I used to say "DOGE is just a meme dammit!" but the lesson i learned was "memes are powerful"

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These meme coins are high risk,
that's why I'm not eager to invest in them but that's my opinion.

Only time will tell which one is going to survive over the years.

As the data says, there's a demand for these or at least people are looking into them.

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It's a bit disappointing that these honestly trash coins are getting the market caps away from legitimate projects just to chase after a quick buck. People about to get rekted!

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That's what some people say on social media platforms but you can't tell people what to do. Some are into legitimate projects as you say, others prefer these.

As long as there's demand, there will be supply. Look at how fast these appear in our lives.

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I agree with you, I think Doge will continue its slow downtrend and then come back to the "pre-hype" level.

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I want to rename that list to top degen and normie coins searched. I don't mess with any of those either. I like keeping my money.

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That's an opportunity to some easy money for some. Newbies get rekt all the time.

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Solid trading and hodling advice @erikah. I own some of these coins but it's mostly for fun. I am going to HODL them for long enough to make profits and take an exit with my initial investment. The rest will be profit or zero. 😂

Play what you can afford to lose!

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