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TL;DR
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Meme coins feel a bit like fad diets: there’s the promise of huge returns in a shorter-than-usual time frame, but eventually it all falls apart.
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Launched on April 14 (yes, less than a month ago!), PEPE grew to a market cap of over $1 billion, placing it in the top 50 most valuable crypto projects.
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But over the past few days it’s been tanking…lost about half of its value (at the time of writing) in the past three days.
Full story
Meme coins feel a bit like fad diets: there’s the promise of huge returns in a shorter-than-usual time frame, but eventually it all falls apart.
Take the “Carnivore Diet,” for example, where people eat only animal products, including meat, meat, more meat – plus maybe butter and eggs.
Of course, on the one hand, you just eliminated almost all carbs and sugar, which is a fun and quick way to lose weight.
But you also just cut out all the fruits and vegetables — and hey, we’re not doctors, but they seem like a pretty important part of anyone’s diet.
Meme coins are great to start with, the hype grows and you make money out of thin air (at least on paper)!
Until one day the hype dies down, people start selling and you realize you missed those fruits and vegetables? They are the crypto equivalent of project fundamentals.
That’s exactly what happened with everyone’s latest favorite meme coin, PEPE.
Launched on April 14 (yes, less than a month ago!), PEPE grew to a market cap of over $1 billion, placing it in the top 50 most valuable crypto projects.
But over the past few days it’s been tanking…lost about half of its value (at the time of writing) in the past three days.
What is the takeaway?
Meme coins are like fad diets. It’s fine to try them — heck, you might even see some short-term results — but if you make them your long-term strategy, chances are you’ll be disappointed.
