I have 0 idea about crypto but wtf are memecoins?

[iblamechico]

Like there's a bunch of random words thrown around with $ in the front, wtf are they?
Example: $lilpump
Lol. Who tf are putting their money in this and why??? Literally how tf does this shit make money?? Buy $lilpump broooo jfl

 

[Alucard69]

Gambling basically, but you can influence the result yourself more i guess

 

[future slavic chad]

some people are dumb enough to buy when the price is high, until they realize buying high is dumb it will be profitable sometines

 

[HTNcutecel]

They pump the value of the meme coin up to attract investors (gamblers) then dump it to make a profit

 

[iblamechico]

some people are dumb enough to buy when the price is high, until they realize buying high is dumb it will be profitable sometines

They pump the value of the meme coin up to attract investors (gamblers) then dump it to make a profit

So it's nothing? Just a bunch of rugpulling by the early buyers?

I mean make sense that the only way this can make money is by doing shady shit with it since it's literally not a product and has ZERO practical value.

 

[future slavic chad]

So it's nothing? Just a bunch of rugpulling by the early buyers?

I mean make sense that the only way this can make money is by doing shady shit with it since it's literally not a product and has ZERO practical value.

yes its like the tulip craze hundred years ago. people selling tulips for more and more just because until they reached house prices

 

[OldRooster]

meme coins = buzz word for crypto which has very little chance of being successful but gets promoted a lot by online influencers = anything other than bitcoin.