Memecoins: Bad or Good for Crypto?
Are meme coins doing more harm or more good? That’s the question people are asking on the web.
Meme coins are in the trend. Despite Pepe coin losing over $1 billion in market share, they are still attracting plenty of attention on social media.
This time, a discussion on Twitter took place, with borovik.eth, who recently suggested that Elon Musk change Twitter’s logo to the Pepe the frog-inspired one, asking his followers to answer the question.
Borovik.eth’s tweet Source: Twitter
The replies turned out to differ a great deal. While one camp is rooting for meme coins, the other one feels less optimistic about them.
We handpicked some of the arguments that will help you understand the conversation’s gist.
The group who thinks that meme coins are good believes so since they bring in new users. @queencryptooo is among those who concur.
“Absolutely not. They are actually bringing people to crypto when they hear someone turned $27 into $400k ;),” she wrote.
Meanwhile, some believe that while meme coins are good, there should be a limited amount of them in the market. For example, @Xristos42087 argues that “There should be no more than 3 to 5 Meme coins. Any more than that and it starts to look bad. Everything in balance.”
Meanwhile, @xerocooleth writes, “They're an evolution, and there will be something after too.”
Those who believe it is a bad idea tend to underscore the pointlessness of memes.To that end, @leon_only1 writes, “Personally I think it's bad for crypto becoz people may think these coins are just a joke. Since we are in the bear market this storm makes the crypto enthusiasts and the spaces boosting up with energy. so, yes it's good for now but not for long runit tells the world crypto is just jokes and speculative investment.”
The discussion was followed up by the question of why others think that people buy meme coins, with many answering that this is due to the desire to make easy money. Even though some believe that there is also a tech component at play here.
What is your take on the matter? Let us know on Twitter by tagging @NewsGagarin.
Previously, Gagarin News reported that Justin Sun has joined the meme craze.
