🅾️ #Memecoin, Speculation on its Climax
They are the worst category of cryptos and the most manipulated, also polluting the Cryptosphere at many different levels. No doubt that everything would be better if these 💩 had never existed.
🚩They dilute the price to the detriment of real & reliable projects. Along with $Doge $Shiba $Pepe in the Top25, they monopolize a total of around 40 billion dollars from their MC, and having absurd supply until 580 trillion of tokens just for the “Pepe the Frog” ridiculous design.
🚩 They have no value, or utility, and completely useless to develop any product or service for the future. All these projects are just completely empty.
🚩Almost all these fraudulent #memecoins (except #Dogecoin) are conducted by sophisticated cybercriminal groups (not lone actors). They has formed their own teams for managing all aspects for launching #memecoins with specific website design, marketing campaign, social media, sniping bots, and so on.
🚩They also create communities as showcases, but mainly for one reason: to find and recuit gullible people to fleece.
🚩 Technically, these are just "Pump & Dump" schemes but with completely cynical token price manipulation. Before launching their #memecoins, they held heavy bags like Whales, which means that smaller investors can only be the Losers. We called it gambling, or casino, but certainly not as investments.
🚩 Lack of professional support from local authorities, financial advisors, crypto experts, and it's also very unfortunate to see everyday new article on Crypto media promoting #memecoins, but without really warning newbies of the huge risks investment risks.
👉 Last but not least, here are some recent words from Billy Markus, the co-founder and creator of #Dogecoin
“DOGE was made 10 years ago to make fun of how stupid the scene was back then. It’s even stupider now, and people are just playing poker against each other and trying to dump their bags on each other".
😅 So true!
👉 This is bad for the Crypto space. #memecoins give a negative image to Crypto investors, and it will not contribute to the mass adoption of Crypto.
All views and opinions shared here are my own.
@AlainBKK 16/5/2024
They are the worst category of cryptos and the most manipulated, also polluting the Cryptosphere at many different levels. No doubt that everything would be better if these 💩 had never existed.
🚩They dilute the price to the detriment of real & reliable projects. Along with $Doge $Shiba $Pepe in the Top25, they monopolize a total of around 40 billion dollars from their MC, and having absurd supply until 580 trillion of tokens just for the “Pepe the Frog” ridiculous design.
🚩 They have no value, or utility, and completely useless to develop any product or service for the future. All these projects are just completely empty.
🚩Almost all these fraudulent #memecoins (except #Dogecoin) are conducted by sophisticated cybercriminal groups (not lone actors). They has formed their own teams for managing all aspects for launching #memecoins with specific website design, marketing campaign, social media, sniping bots, and so on.
🚩They also create communities as showcases, but mainly for one reason: to find and recuit gullible people to fleece.
🚩 Technically, these are just "Pump & Dump" schemes but with completely cynical token price manipulation. Before launching their #memecoins, they held heavy bags like Whales, which means that smaller investors can only be the Losers. We called it gambling, or casino, but certainly not as investments.
🚩 Lack of professional support from local authorities, financial advisors, crypto experts, and it's also very unfortunate to see everyday new article on Crypto media promoting #memecoins, but without really warning newbies of the huge risks investment risks.
👉 Last but not least, here are some recent words from Billy Markus, the co-founder and creator of #Dogecoin
“DOGE was made 10 years ago to make fun of how stupid the scene was back then. It’s even stupider now, and people are just playing poker against each other and trying to dump their bags on each other".
😅 So true!
👉 This is bad for the Crypto space. #memecoins give a negative image to Crypto investors, and it will not contribute to the mass adoption of Crypto.
All views and opinions shared here are my own.
@AlainBKK 16/5/2024
🚫 ‘Mutant Ape Planet’ NFT Creator Arrested, Charged with Fraud for $3 Million Dollar "Rug Pull"
The 2022/23 hype of these #NFT collections is very similar to the current #Memecoin hype:
🚩Complete price market manipulation
🚩Pollution of the Cryptosphere
🚩Newbies under bad influence of communities
🚩Bad image of NFTs and Crypto
🚩98% of investors will lose, Never be millionaire
🚩Most projects under control by "digital criminal groups"
👉 It attracts new investors in Crypto, mass adoption, smart money injection, blablabla...
... Except that after only experiencing losses, the smartest understand that they will never be millionaires and leave just as quickly, but with negative image of the Cryptosphere 😔
... And the most gullible under the influence of these well-organized communities will try to recover their investment. How? Always the same, find another newbie to get rid of their tokens bag (like in poker)
🌐 Source: https://www.dailymail.co.uk/news/article-11606903/Mutant-Ape-Planet
The 2022/23 hype of these #NFT collections is very similar to the current #Memecoin hype:
🚩Complete price market manipulation
🚩Pollution of the Cryptosphere
🚩Newbies under bad influence of communities
🚩Bad image of NFTs and Crypto
🚩98% of investors will lose, Never be millionaire
🚩Most projects under control by "digital criminal groups"
👉 It attracts new investors in Crypto, mass adoption, smart money injection, blablabla...
... Except that after only experiencing losses, the smartest understand that they will never be millionaires and leave just as quickly, but with negative image of the Cryptosphere 😔
... And the most gullible under the influence of these well-organized communities will try to recover their investment. How? Always the same, find another newbie to get rid of their tokens bag (like in poker)
🌐 Source: https://www.dailymail.co.uk/news/article-11606903/Mutant-Ape-Planet