The Crypto market is flooded with too much overprinting of memes tokens, which has heightened the risk of financial lost. The rate at which scam project is been introduce into the market is alarmingly high. Thousands of memes token are minted into the market on daily basis, since the introduction of memes tokens launchpad Defi protocols, namely:
Moonshot
Blum
Hyperpie
Sunpump
Memepad
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Memelaunch, ETC. We have seen Thousands of dollars made within a twinkle of an eye, We have also seen hundred of thousands of dollars get sunk in a flash. Isn't that crazy? Or at least concerning to know that out of 100% of tokens minted through this platforms 98% are rug? Yet these platforms generate thousands of dollars on daily basis operating the platform through tokens sell's revenue. Earnestly It is better to build a casino than to play in it.
When Dogecoin was launched on December 2013, we saw demands for the token and gradual increment and expansion in Market cap (MC), followed by many others ( But we will stick to the notable once) Before Shiba came in in 2021,and then We had bonk and pepe; these were memes tokens with real organic growth.
Since the rise of memes token generation protocols, investing in meme tokens has become highly speculative due to the oversaturation of new tokens, many of which rug pull within hours of launching.
Imagine throwing in 200 bucks into memes token, only to return back to your wallet and find nothing but $0.10 just in a couple of hours. Earnestly this is pain giving. I can't imagine how the trader must have felt. This guy invested $200 into $Fula only to return back to find $0.10, losing 99.95% of his capital within a blink of an eye. Gush!! It's like watching your dreams evaporate faster than a pump-and-dump scheme.
It's crazing how traders/investors' capital gets wiped out in seconds in attempt to triple their funds. I feel most people really lack the understanding of how these things work. You can't invest such amount of money into just any random project without thoroughly making research on the project and the team behind the project. Yes! we know that people are making hundreds of thousands from memes token trading in a split of time. But most of these successful project comes from a very strong community.
You most find a community of memes token traders to belong, where you will get valid information. Most of these communities plan on launching new tokens and gets their members/subscribers informed on time. So these subscribers record higher success rate, trading memes token than just an uninformed investor or none subscribers. However, You need to understand that trading memes token carries a very serious risk of losing most of your capital, if not all. Therefore to reduce the risk of losses, invest in tokens with real utility. Don't forget to always invest wisely! Thanks for stopping by.
This publication was first published on hiveblog.
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