2024: The Rise of MemeCoins
We all know by now that the cryptoverse is a crazy place where unexpected things can occur all the time. Literally, you can go to sleep and by the time you wake up your crypto wallet may be x4 times your original amount or even zero. High risk High rewards as some say.
So the year is 2024 and mostly everyone was waiting is waiting for the bull run season. Some say that we are currently riding the wave and others that we have seen nothing yet. All in all BTC in a year went from 22k to 68k, or in other words its price tripled. In simpler terms, if you invested 1000$ one year ago now you would have 3000$.
To say a few words about our beloved Hive, before i start talking about the memecoins, literally 1 year ago Hive was basically at 40 cents which is the same as now. Most of the time though it was closer to 30 cents. Thus, we see an increase of around 30% give or take and to provide a similar example as with BTC, if you invested 1000$ when let's say the price was 30 cents now would have around 1300-1400$. I still believe Hive is quite undervalued though.
Rise of MemeCoins
Something that caught me off guard and honestly i couldn't believe that something like this would happen is the pump the memecoins got. Especially, after the rise of dogecoin and Shiba i couldn't believe that this craze would continue. If you are aware of what a memecoin is let me tell you in a few words.
Most of the cryptos out there have something to offer let's say. Besides BTC and LTC are considered the gold and silver of crypto and you can primarily use them to store wealth and maybe for some transactions. If we exclude the scams we can coins that support let's say faster transactions, NFT marketplaces, Web3 Social networks and games etc etc.
A memecoin basically doesn't offer anything and it exists solely just for fun. Sometimes it can be used as a small extra way of earnings or cheaper transactions but nothing more. That's one of the reasons that when you see meme coin and check the number of total tokens, you will see crazy amounts which of course means that you most likely never gonna see any of them even reaching 1$-10$ and that's perfectly ok.
Now for some reason that i don't know yet, people like these coins and invest in them. During let's say this pump, the coins that pumped the most were all memecoins like Pepe, Shiba, Floki and Bonk. Let's talk numbers in a yearly term in order to understand the craziness.
Shiba Inu
You invested 1000$, now you would have 2654$.
Floki
You invested 1000$, now you would have 2730$. Basically close to BTC increase, a simple memecoin but wait there is more.
Bonk
You invested 1000$, now you would have 51.639.$. Can you comprehend this number? Besides that i think that nobody would believe a return like this, note that when most of these coins come out, it is quite hard to buy them as you can find them in popular exchanges like Binance, Coinbase and such and the same applies to the next one i will present.
PEPE
You invested 1000$, now you would have 101.621$. A super crazy amount as well which can even change a life. Honestly, i can't believe how a meme coin can can have such huge returns but what i can say, miracles happen!
Of course, as you can imagine i never invested in anything. I think i bought 20$ worth of Bonk just for fun a couple of days ago and now it is worth 40$, which i don't really care and possibly will sell in a couple of days. Also, as you can understand these memecoins have been proven to be more profitable than buying Hive, LTC or even BTC.
To tell you the truth i still don't plan on buying memecoins cause of the huge risk and i stick to Hive and maybe BTC as well. If you believe in a memecoin a lot though like i have seen some did with PEPE a couple of months ago, please let me know, i don't mind investing 20$ and someday earn 1000$
Have you invested in a MEME coin, which one and how much have you earned so far?
Posted Using InLeo Alpha