What's your thought about memecoins?

[Wakanda]

Due to the lack of any real use cases and utility of memecoins, most investors tends to avoid investing their funds as this token are driven by social media hype. No doubt a lot of people have got rekt in the past by investing in them, however significant number of people have also become overnight millionaires by doing their research well before investing in some memecoin which eventually changed their lives.

Examples of such memecoins include; DOGE, FLOKI, SHIB, PEPE, **** and many others. As a Bitcoin investor, I had high hopes of making significant profit after the approval of the Bitcoin spot ETF but things didn't go as expected hence am considering investing some amount in memecoins. BABYDRAGON and WIF are two new memecoin I have spotted. While WIF has been listed on some exchanges like Bitget and already gaining traction, BABYDRAGON is yet to be listed. 

I would love to hear from the memecoin enthusiasts what they look out for before investing in a particular memecoin to enable me make the right decision. Do you think BABYDRAGON and WIF is worth investing in?

[Megamind]

It's good to see you're doing your homework asking the right kind of questions as touching what to look out for. I'll give some, while you make your final decision. 

What I usually look out for is the project's team, I ensure I read about them and their reputation, if they're unknown, then it's a red flag for me. I check their website, roadmaps and white paper to see their plans, if it's not a copy and paste of another project before I check their community to see if it's active or full of bots, real projects have good marketing plans and so will have humans there. CEX listings like on Bitget you mentioned or Binance too is good, because some only want to extort the community members. So if you check these parameters and it's all good, you should know what to do.

[XTRAVAGANZA]

I find it amusing when people dismiss investing in meme coins because they lack a use case. My response to them is a simple question: How many of the tokens in your portfolio actually serve a genuine purpose, and how many have yielded profits for you? The answer is often predictable.

Regardless of whether it's meme coins or not, my approach revolves around conducting thorough research, timing my entries and exits effectively, because, let's face it, most of us are ultimately in it for the profits.

Honestly, I don't hold on to meme coins for an extended period. Instead, I enter early or capitalize on price dips, selling when the prices surge. I've experienced decent gains from DOGE, SHIB, PEPE, ****, and a few others.

Taking a calculated move, I secured WIF on Bitget, patiently waiting for a price retracement before making my purchase. Although BABYDRAGON is now listed on the exchange, I'm biding my time for potential pullbacks before diving in.

[Incarts]

3 hours ago, XTRAVAGANZA said:

I find it amusing when people dismiss investing in meme coins because they lack a use case. My response to them is a simple question: How many of the tokens in your portfolio actually serve a genuine purpose, and how many have yielded profits for you? The answer is often predictable.

Regardless of whether it's meme coins or not, my approach revolves around conducting thorough research, timing my entries and exits effectively, because, let's face it, most of us are ultimately in it for the profits.

Honestly, I don't hold on to meme coins for an extended period. Instead, I enter early or capitalize on price dips, selling when the prices surge. I've experienced decent gains from DOGE, SHIB, PEPE, ****, and a few others.

Taking a calculated move, I secured WIF on Bitget, patiently waiting for a price retracement before making my purchase. Although BABYDRAGON is now listed on the exchange, I'm biding my time for potential pullbacks before diving in.

BABYDRAGON might be another hugely successful memecoin if it fulfils what it represents–Strength and Wealth. Having made a remarkable growth since launch, I expect it to continue its impressive ride particularly now that its credibility has been enhanced through top tier CEX listing 

[Sureforex]

The meme coin market is still relatively new and highly volatile and can offer investors the potential for quick profits, I love to invest in them because of their volatile nature, BABYDRAGON will also perform just like other ones in the market, I have also joined its trend.

[Maxicreed01]

17 hours ago, Wakanda said:

Due to the lack of any real use cases and utility of memecoins, most investors tends to avoid investing their funds as this token are driven by social media hype. No doubt a lot of people have got rekt in the past by investing in them, however significant number of people have also become overnight millionaires by doing their research well before investing in some memecoin which eventually changed their lives.

Examples of such memecoins include; DOGE, FLOKI, SHIB, PEPE, **** and many others. As a Bitcoin investor, I had high hopes of making significant profit after the approval of the Bitcoin spot ETF but things didn't go as expected hence am considering investing some amount in memecoins. BABYDRAGON and WIF are two new memecoin I have spotted. While WIF has been listed on some exchanges like Bitget and already gaining traction, BABYDRAGON is yet to be listed. 

I would love to hear from the memecoin enthusiasts what they look out for before investing in a particular memecoin to enable me make the right decision. Do you think BABYDRAGON and WIF is worth investing in?

Meme are worth investing but do it with what you can afford to lose. They can be be very profitable particularly if you join the trend early and I feel your choice of exchange has been recently attributed with an impressive listing speed which should put you in a good position. I will also look into the project

[BashJasper]

Well, memecoins are always there to distract us from the stress of the market; get them make you an easy 10 to 20x and watch most of them fade away by getting delisted by major exchanges after outliving their relevance. But we'll always stand to maximize their potential while they last including these new ones WIF and BABYDRAGON

[Wakanda]

7 hours ago, Maxicreed01 said:

Meme are worth investing but do it with what you can afford to lose. They can be be very profitable particularly if you join the trend early and I feel your choice of exchange has been recently attributed with an impressive listing speed which should put you in a good position. I will also look into the project

I have been skeptical about investing in memecoins since I lost significant amount investing in $UMMA, a memecoin listed on MEXC at one point but I think it's already delisted. I have seen many investors on social media especially on X shows how they made 50× to 100× of there investment but haven't been fortunate to get even 2× on any of my PF hence the reason for considering new projects. It's not quite easy to make decent gain in this space without thorough research. I have been following Bitget listing and it seems most token listed there always pump hence the reason am considering BABYDRAGON and WIF

[Abizee]

I think Memecoins are like the quick route to making some short term profits on your investment since they mostly thrive on hypes of the community. I recently adde BABYDRAGON to my portfolio. The price is good at the moment.

[Captainsaudi]

21 minutes ago, Abizee said:

I think Memecoins are like the quick route to making some short term profits on your investment since they mostly thrive on hypes of the community. I recently adde BABYDRAGON to my portfolio. The price is good at the moment.

Yeah Babydragon price trend has been good since Bitget listed yesterday. Since 2024 is dragon year, I except the price trend to continue as the team are planning to launch more product in Baby Dragon.  

[Imam]

17 hours ago, Abizee said:

I think Memecoins are like the quick route to making some short term profits on your investment since they mostly thrive on hypes of the community. I recently adde BABYDRAGON to my portfolio. The price is good at the moment.

Actually,every trend starts & ends with memecoin surge. This time it might be BabyDragon! & The listing of Bitget has just provided it a huge exposure...

[Imam]

17 hours ago, Captainsaudi said:

Yeah Babydragon price trend has been good since Bitget listed yesterday. Since 2024 is dragon year, I except the price trend to continue as the team are planning to launch more product in Baby Dragon.  

The price trend isn't bad either! Grabbed a little at this level & I'm happy with the gains !