How smart people invest in dumb memecoins: 3-point plan for success

Cointelegraph
Cointelegraph

28 Jun 2023 1:30 PM

Serious crypto investors think memecoins are stupid. But smart people are making serious money from dumb memecoins. Here's how....

  • Memecoins, such as Dogecoin and PEPE, have gained popularity and attracted both smart and not-so-smart investors.
  • Memecoins typically have no utility except for fun and making money.
  • Trading strategies for memecoins are considered unreliable by some experts.
  • Ethereum co-founder Vitalik Buterin made millions from his investment in Dogecoin.
  • Financial journalist Tom Mitchelhill finds memecoins fascinating and culturally significant.
  • Evgen Verzun, director of Kaizen.Finance, believes in finding the next memecoin with potential.
  • PEPE, a memecoin based on the Pepe The Frog meme, experienced a surge in market cap but also significant volatility.

The article discusses the appeal and potential profitability of memecoins, highlighting both positive and negative aspects. While some experts dismiss trading strategies for memecoins, others, including Ethereum co-founder Vitalik Buterin, have made significant profits from their investments. The sentiment is mixed, with a sense of caution regarding the volatility and lack of utility of memecoins.

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You May Ask

What are memecoins and why have they gained popularity?Can you make money by trading memecoins without any fundamental analysis?Who is Vitalik Buterin and how did he profit from memecoins?What is the market cap of PEPE and why did it experience significant volatility?What are the opinions of experts regarding trading strategies for memecoins?

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