One thing we can look back on in history of crypto is when the meme coins go crazy and all rational thought no longer exists it normally means the bull cycle is close to being over. That's pretty much the spot we see ourselves in at the moment. With $BTC dumping and $ETH dumping and meme coins on the rise could this be different this time around?

My Own Thoughts

Now for my own thoughts on the matter I believe meme coins have a place. However you do need to research them greatly before pulling the trigger on any of them. For example is it decentralized enough that it can carry on? Or does one or a few people hold a vast majority from launch and could dump it at any point.

There have been major successes with meme coins in the past. But these are mainly large meme coins that everyone knows, has a solid backstory and can still be used to this day. While others... Well not so much.

Take for example Dogecoin a meme coin which was worth nearly nothing and could be earned on faucets at 100+ a claim. That is now worth $0.12 and hit an all time high of around $0.65 when things got really crazy back in 2021 bull market.

Since then we have had a few more noteworthy meme coins. In particular I would say $PEPE mainly because it's a meme we all know and love that doesn't feel like it's going to fade any time soon. Meme coins like this with a solid backing in terms of a fair launch do have a very real chance of become worth something much like Doge has.

A New Trend

However right now we are seeing a new trend which I would say surpasses meme coins in terms of being bad investments. It's meme coins, cash grabs on an all new level and this to me would signal a deep crash is coming soon.

That new trend being celebrities' launching their own coins. One of the ones to catch the biggest headlines lately was DADDY which is the meme coin from Andrew Tate. Even with all the hype and him burning tokens we see that this token has only crashed since launch. In a 1 week period of time the tokens gone from $0.25 down to just $0.10 and it honestly is seeing no slowing down in terms of the crash.

We also see new people like Kim Kardashian asking and talking about maybe launcher her own and there's been plenty of others like the Trump coin. Whenever public figures and celebrities' start to cry and cash in on their own token you mid as well kiss the markets goodbye. As far as I'm concerned celebrities are the worst, the lowest of low of society that just pray on people for money and give them crap back (Just take a look at recent movies lol)

Extreme Cases From Before

I think it's important to go over some extreme cases we saw in the past so we can be aware of it as it continues into this cycle and what to look out for.

One of the biggest was from Akon and his push to have his own city where only Akon token could be used. No shock it was called Akoncity lol I mean it sounds good but for it to be a real thing is a whole other story.

When these meme coins get crazy like this is normally signals a crash in the market as 1) The celebrities' cash out screwing people over and 2) people having no common sense and simply investing on pure speculation and no reason behind it what so ever. It legit becomes a major cash grab and just weird things happening.

Do you feel we are at this point and ready for a major sell off before the rebound later this year? Or will it be harder hit than that?

Posted Using InLeo Alpha