But if you want to really crank up the dial on high-risk, high-reward ventures, you should check out these meme coins.īefore we dive in, let’s get one thing clear if you didn’t get the message from the first paragraph: cryptos are terribly risky and meme coins are especially so. I’m not trying to take anything away from DOGE and SHIB - they have their place in crypto speculation. Naturally, this inspires even more FOMO for those who have yet to take the plunge in meme coins.īut you’ve got to remember that sometimes, as people keep betting on the same horse, the profitability potential of getting it right decreases. Thanks to the excitement and the fear of missing out - or FOMO to use crypto parlance - some of the wackiest, nonsensical coins and tokens have flourished. But meme coins have offered a way for regular folks to become unfathomably wealthy.Ĭurrently, speculative digital assets like Dogecoin (CCC: DOGE-USD) and Shiba Inu (CCC: SHIB-USD) generate their fair share of media coverage. True, BTC reached unbelievable heights in 2021 - and could possibly deliver a six-figure price point in 2022. But it’s the meme coins that speculators within the crypto complex are celebrating. To be sure, benchmark blockchain assets like Bitcoin (CCC: BTC-USD) have commanded the most attention from mainstream media sources. But everything else is largely the same, from the rabid buying pressure to the promotion of warlike narratives, such as holding the line against the bears. Well, meme coins follow the same concept except that the underlying medium happens to be virtual currencies. This is no more true than in the subsegment known as meme coins.īy now, you’re familiar with the concept of meme stocks, or publicly traded securities that have garnered intense interest on social media. Nevertheless, you want to keep your wits about you because you can easily lose your shirt.
True, cryptos have made many people millionaires during the crazy post-pandemic period. Despite the extraordinary rise of blockchain-derived assets, one fact stands above the others: cryptocurrencies are awfully dangerous investments if you want to call them that.
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