Hello to Hive Fam!
In this cryptocurrency market, we can see multiple segments offering different use cases. I'm trying to talk about the various trends or segments in this market which also includes AI and meme coins etc. Earlier we have seen how the NFT thing worked thereafter decentralised financing was another one. Now people are running behind meme coins and they expect that if they get one coin that is lucky for them then they will be able to make a fortune.
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To be honest it is possible because people have done it however the probability is not too high. How many people in this market get this type of opportunity is still a question. It is hard to say what percentage of people have got such an opportunity in the crypto market in meme coin to make money overnight. But surely we know that the percentage is huge for the people who lost money because of these meme coins. As the name is self-explanatory these are meme coins, that are created for fun only. They do not have any fundamental value in the market and probably no use case or any type of utility.
When it comes to investing I prefer going through the fundamental values because my investing is for the long term. Charts are good for those who believe in investing for the short term because they can help them figure out how the market is going to perform in most scenarios. With fundamentals we can figure out the backbone of the project and how it is built. This is the reason why I believe going through the fundamental analysis of any project and meme coins does not fit that criteria.
Very little amount can be put into this category but to be honest, if you are putting that money I would say you consider it gone. I have never done it but looking at the craze that people show in the market this time sometimes I think I should put a small amount of money just for the experience. That small amount can be just 10 or $20 so if in case I lose then it does not make any difference.
Just in case if it does well then I can get some decent amount of money which obviously cannot be in thousands or maybe it is possible because of the kind of enthusiasm and price Spike we see it can be a reality.
Thoughts?
Have a Good day !