Whether it’s the Dogecoin, SafeMoon, or Shiba Inu, the meme coins trend is gaining rapid momentum in an already tumultuous market. People are curious as this complicates cryptocurrency a bit further and generates wild swings. Are the meme coins worth the hype? Investors who are in it for the long haul think so and cite the deregulatory nature of crypto to support their claim. However, the meme coins certainly don’t come without their fair share of risks. Karishhma Mago, a branding and digital media expert and the CEO of Facilius Inc., shares her insights on the meme coins trend and what it means for the future.
Cryptocurrency was created just over a decade ago and has captured a large chunk of the world’s attention today as ordinary people get into day-trading. “Meme coins are an internet phenomenon embracing the technological and digital future,” explains Karishhma Mago. “Investments built on hype can be volatile, and that requires knowledge and strategy.” Understanding the market volatility is key, but embracing the digital trends and making them work for your investments is the cornerstone of the meme coins trend.
Developed as an altcoin to rival Bitcoin, Dogecoin is arguably the most well-known of the meme coins, prompting a frenzy similar to that of the infamous GameStop Reddit investor surge. “If you are going to get into meme coins, you have to follow it 24/7, 365 days a year,” stresses Karishhma. “The most successful investors are the ones who are in it for the long-haul, laser-focused on the potential and future of crypto.” Because cryptocurrency is uniquely set up as an alternative to traditional markets, investments, and economies, it goes through significant swings, representing incredible booms and devastating busts.
“With the meme coins, you also run into the threat of scams and the pump-and-dump schemes,” explains Karishhma Mago. “How long can the trend last? That is where its inherent value lies. So, if you feel the frenzy will come down fast, be careful where you invest.” In analyzing trends, Karishhma has also turned her own focus towards coins for a cause. “Charity bitcoin has long-term goals,” says Karishhma. “That gives it some longevity because people are buying into a future they believe in, whether it’s fighting breast cancer or helping those in need. I’m certainly not advising against investing in meme coins, but look at what’s behind it. Investing in a coin because it’s funny and in trend might not be the best strategy.”
The truth is everyone has advice on crypto, but it’s crucial to heed the experts. Analyzing how these coins are set up, who is endorsing them, the mining situation, etc., to get a clearer picture of the entire scenario should be your first step before investing. And doing it successfully requires a lot of commitment.
“Getting rich quickly is the exception and not the rule when it comes to meme coins,” states Karishhma Mago. Meme coin investors are unafraid to push the envelope on what’s possible, but success relies on strategically staying the course.