"Long term investment in a memecoin" is akin to "long term investment in tulips".
With memecoins you rely ENTIRELY on market sentiment, so price is always extremely volatile and subject to a massive trend alteration without prior warning.
A single tweet could enrich you or wreck you. It's basically gambling, though an extremely shrewd trader could make a profit by understanding market psychology and identifying good swing trades, market tops and cycle bottoms.
The only really longterm memecoin is DOGE - it's safer than others, but still definitely something I would never suggest holding longterm, only trading as a highly experienced trader.
And no, If you've been trading crypto for less than a decade, you're not "highly experienced ".
No. You're not the exceptionto this.
I would agree that the likes of PEPE, BONK, SHIBA etc are tier 2 memecoins - the "ETH" of memecoins if DOGE is seen as "the BTC".
This makes them abut as "safe" as a mosquito in a blowtorch flame, whereas other memecoins are about as safe as a gnat in a blowtorch flame.
My best advice would just be to never NEVER get emotionally attached to a memecoin and hold it as an investment. It isn't one, it's the dictionary definition of a volatile bubble asset.
And please, remember to read the bitcoin whitepape - THAT is why crypto exists. It's a serious game, it's not about fun and making (or far more frequently - losing) money by gambling.
With memecoins you rely ENTIRELY on market sentiment, so price is always extremely volatile and subject to a massive trend alteration without prior warning.
A single tweet could enrich you or wreck you. It's basically gambling, though an extremely shrewd trader could make a profit by understanding market psychology and identifying good swing trades, market tops and cycle bottoms.
The only really longterm memecoin is DOGE - it's safer than others, but still definitely something I would never suggest holding longterm, only trading as a highly experienced trader.
And no, If you've been trading crypto for less than a decade, you're not "highly experienced ".
No. You're not the exceptionto this.
I would agree that the likes of PEPE, BONK, SHIBA etc are tier 2 memecoins - the "ETH" of memecoins if DOGE is seen as "the BTC".
This makes them abut as "safe" as a mosquito in a blowtorch flame, whereas other memecoins are about as safe as a gnat in a blowtorch flame.
My best advice would just be to never NEVER get emotionally attached to a memecoin and hold it as an investment. It isn't one, it's the dictionary definition of a volatile bubble asset.
And please, remember to read the bitcoin whitepape - THAT is why crypto exists. It's a serious game, it's not about fun and making (or far more frequently - losing) money by gambling.