The Risks of Investing in Meme Coins Like Dogecoin and Shiba Inu
Hi hivers, if you are looking for information regarding "A Deep Dive into Tokenomics: How Crypto Tokens Get Their Value," then you have landed in the right place. These coins are internet jokes, and no one knew that such coins would become that important. Let's be honest and don't just blame it on jokes, but there were viral trends and social media hype that pushed these coins so hard. Many people became rich investing in these coins. So in these coins, it is easy to invest, and actually, it is fun to invest there because such coins are cheap. However, let's put aside our fun and think carefully about whether it is a serious investment. You should not take it serious becuse these coins are higher risk coins.
But that is also not bad that you are adding your few bucks to such coins and trying your luck. There is an extreme level of volatility in such coins, and that is true. We can understand that there are use cases for some meme coins, but whales still manipulate them, and pump-and-dump schemes use them for their own benefit. You have seen what happens when Elon Musk tweets about Dogecoin. No doubt Dogecoin helped many to earn a lot, but you can see there is a higher reward with higher risk. So, keeping use cases aside and stable growth, these coins act like gambling. That's where the problem starts, and I know that you all agree with me on this.
No doubt meme coins are great, but the lacks real utility, and that's true. They are not like Bitcoin and Ethereum, and they can't be Bitcoin or Ethereum. You should fit this particular thing into your mind. Do not attach emotially with such coins and play smartly. If you have some extra fund then it is not bad to put small percentages here. Taking small risks is okay because if there is no risk, thenthere are no rewards, but you have to admit that investing in memecoins like pepe, doge or shiba are highly risky.
I invested in Shiba Inu 2 years ago, and I am still holding that, butthere has been no improvement in total value. Enjoy your day. Now I am signing off. Selling at this price is not worth it. BTW, all the crypto market is down, so I am not going to blame Shiba Inu. Now i am signing off. xD.
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