it's not worthy to invest in Memecoins

It's 2024, and crypto is one of the trending topics in the digital world. Most of the government was against crypto from the beginning, but later the government also realized that they couldn't restrict people from using cryptocurrency and that it's the future money of the future world. So now most governments are accepting cryptocurrency for their own benefit in a long-term perspective.

At the current time, cryptocurrency is a trending topic because the mother currency, Bitcoin, is trading above 60k, and still now people are bullish about the crypto market. When markets remain bullish, memecoin becomes a hot topic. Based on my little knowledge, I know that memecoins are made just for fun, but sometimes some memecoins pump so hard that it can make anyone's life. In the past, few memecoins pumped so hard that some people gained huge profit, and that is the reason people discuss memecoins.

So, from one perspective, investment in Memecoin can make one millionaire or billionaire based on investment. It's just a possibility, but is it worth taking the risk? Let's discuss about it.

Only a few Memecoin pumps hard. In maximum time, most of the memecoin makes us suffer losses. I can remember a few years ago I invested in one Memecoin, and it was more than 100+ dollars, and do you know what's the value of those? It's less than a dollar. Just imagine how much loss I suffered for it.

Most of the Memecoin don't have strong background support, and in a little market crash, the Memecoin starts to crash first, and it dumps more than other coins. Most of the Memecoin can't recover the price after a market crash. So suffer loss in Memecoin means loss for forever.

Let's assume the scenario. Suppose I am investing 10 dollars in 10 memecoins. Total 100 dollar investment. Just assume one of those pumped 10X and and suffered a loss in 9 Memecoin. So overall there is no profit. There is no guarantee that one of those will pump hard. So who knows if I lose all of my investment there.

Isn't it a wise decision to make an investment in a good altcoin? At least it will give me a good profit. If I suffer a loss, it will have a chance to recover as good altcoin recovers after the market crash.

So in my case, I never think to make an investment in any kind of Memecoin because I feel no Memecoin is worthy of taking a risk. For having the desire of making quick profit, I don't want to lose my seed money. I want to be rich slowly step by step with less risk. I don't need a ladder of Memecoin to be rich.

If anyone is interested in investing in Memecoin, I recommend them to make a little investment only, and this should not expect too much from it. If they are lucky, then they will get a good result from it; otherwise, everyone knows the result.