Should you invest in Memecoins ?

Memecoins were created to make fun of conventional cryptocurrencies. However, they have gained notoriety to the point of attracting the attention of investors.

Dogecoin, Monacoin, Shiba Inu... these memecoins are currently part of the crypto landscape. However, these currencies were originally created as a joke. Their notoriety is a result of their marketing abilities. Currently, their popularity far surpasses that of traditional crypto-currencies

An appealing investment

A gateway to the crypto market

Memecoins are deployed for speculative purposes. Curiously, the latter know how to exploit this weakness to gain popularity. Beginning investors prefer to venture into them before jumping into the very ambitious cryptos (Ethereum, Bitcoin...).

Obviously, their ability to promote themselves is not the only reason. Investors are interested in them because of their simplicity of operation. 

In short, you can invest in them, provided you take advantage of speculation quickly before their prices weaken. Let's take the example of Dogecoin where the right time to invest in it was when Elon Musk made his statement.

A wide choice

While Dogecoin is the most well-known, it is not the only memecoin on the market. There are others on the market, such as :

  • Shiba Inu 
  • Monacoin
  • CumRocket
  • HogeFinance 
  • PepeCash
  • ERC20
  • Etc

To invest, go to an online broker. You can then use it to trade, fundraise or tip online.

Cryptos that are not to be taken seriously!

Despite their notoriety, memecoins are too volatile to be taken seriously. Investors can get rich quickly, or lose a lot of money.

Unlike traditional cryptos, their prices can explode quickly, only to fall by several hundred or even thousands of percent.

Tips before buying memecoins

Keep up with the news

Instead of turning away from the volatility of memecoins, use them to make your investment profitable. You can do this by doing a thorough study of the market. For example, before you buy Shiba Inu, find out what the current trend is, or more accurately, what situations can cause the price to change.

Invest sensibly

Remember that investing in cryptos is always risky. So you need to prepare yourself by being sensible and only investing in currencies that you can afford to lose. Refrain from investing too much money or even your savings.

Diversify your portfolio

Would you like to optimize your investment ? The solution is to diversify your portfolio. In this case, instead of buying only Dogecoin, also invest in other memecoins with different prices. Indeed, sometimes Shiba Inu's price rebounds, while HogeFinance's price weakens rapidly.

In any case, don't forget to choose the right broker to invest with. Some have hacking issues and should be avoided.