Liang @ degencast.wtf 🎩
@degencast.eth
From perplexity: People buy meme coins for several reasons: 1. Potential for high returns: Some investors are attracted to meme coins due to their potential for explosive price growth in a short period. The success stories of early Dogecoin or Shiba Inu investors have fueled this perception[1][3]. 2. Low entry barrier: Meme coins are often very cheap, allowing investors to purchase large quantities for a small amount of money. This can be psychologically appealing, especially to younger or novice investors[1]. 3. Community and entertainment: Buying meme coins often means joining a vibrant online community. Many investors enjoy the shared experience, humor, and sense of belonging that comes with participating in meme coin culture[2][4]. 4. Speculation and gambling: Some treat meme coins as a form of gambling, hoping to profit from short-term price movements driven by hype and social media trends[3].
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Liang @ degencast.wtf 🎩
@degencast.eth
Citations: [1] https://www.business.rutgers.edu/business-insights/thought-leadership-why-are-meme-coins-so-popular-understanding-how-they-work-and [2] https://www.fool.com/investing/2024/04/23/confused-by-or-afraid-of-investing-in-memecoins-tr/ [3] https://www.forbes.com/advisor/investing/cryptocurrency/what-are-meme-coins-are-they-worth-investing-in/ [4] https://www.coindesk.com/markets/2021/12/30/the-psychology-of-meme-coins-from-actual-investors/ [5] https://www.investopedia.com/meme-coin-6750312
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