Cryptos are a promising field due to which many people are getting involved all the time. Every now and then people are trying to make money by getting into crypto to make it dream seed. But at the end of the day how many are successful? The number of such people is very small. The opposite happens when a newbie tries to make money without experience. And crypto market is one of them which is a huge market nowadays and it is not very easy for anyone to master this market easily. However we constantly join the market to build our financial base and try to make money by trading various coins. Although we can profit from some coins but there are many coins in the market from which we lose a lot of money. MemeCoin is one of them.
[source](https://pixabay.com/photos/chart-stock-market-iphone-dollars-6716410/)
You will see a lot of coins like this in the crypto market. They can be wagered much like gambling. The reason I say like gambling is that just like gambling can make you suddenly rich, you can become suddenly rich by betting on these coins. So the question may be why so many people are joining the market but not everyone is getting rich? Actually the reality is quite different. If everyone were rich then who would really lose here? Think about it with a healthy mind. Do you have money sitting on it that will make you rich? One thing to keep in mind that just like in gambling the chances of winning are very low and also the chances of you making good money by investing in such coins are also very low. In most cases memecoins are just a scam, although some memecoins are very good.
Let me show you an example with a recent coin. For example, we heard a lot of talk about a coin a few days ago that the owner of the coin is Donald Trump, the new president of the United States, who issued two coins in his name and in the name of his wife. When these two coins entered the market there was a huge amount of volatility and their prices went up quite a bit. For example, I saw a news report this morning that Trump lost a hundred and twenty million dollars from coins alone. For example, it traded from $5 to $75 after it was listed on the popular exchange Binance, but currently it is around $25. Exactly the same is true of Melania Trump's coins. If you review the candlesticks of these two coins, you can understand a little and guess how people are being cheated on them.
Also, if you look at different memecoins on different exchanges like MEXC Global, you will see that there are a lot of such coins in these markets and these coins basically go up in price for 2-1 days, but then it is seen that they go down a lot. . Even if you buy a coin for $100, within a few days the value of those coins will drop below $1. But sometimes it is seen that if a coin decreases 100 to 200 times then from there it increases up to 10 times in some cases. But we forget that here the coins have a small rise after a huge fall. Even sometimes these points become unstable after entering the market and within a few days they get out of the market after grabbing the investors' money. So these coins are one of the traps of fraud. Although there are few good coins among those cheated coins. For example $doge, $shibainu, is one of them. However, you should invest in these coins in such amount that you will not lose much if the amount is gone.
