MEME COINS DO NOT STAY STILLđ
Meme coins are generally a category of cryptocurrencies that can deliver big surprises due to their high volatility. Among the main meme coins we encounter, the ones with the most users are coins such as $DOGE $SHIB $PEPE BONK.
Still surprisingly in the market, for example, while BOME coin rose by 25% today, PEPE fell by 9%, despite the market being in such a positive mood. So why do meme coins have such a volatile market structure? Let's examine it;
đčSocial Media Impact: Meme coins are greatly influenced by the power of social media. Coins such as Dogecoin, which were initially created as a joke, have gained a large following on social media over time. Tweets about Dogecoin by famous personalities and investors, especially names such as Elon Musk, increased the popularity of these coins. This made memecoins widely known, which increased volatility.
đčSpeculation Effect: The value of meme coins is often based on speculation and community influence, as most have no concrete basis or use case. Therefore, rapid changes in the market can greatly affect the prices of these coins.
đčPower of Media: Meme coins are greatly influenced by the power of social media. Shares of influential people on platforms such as Twitter can lead to significant price fluctuations.
In general, it is very difficult for investors to have absolute trust in meme coins since they do not have a real usage area. In general, everyone holds these coins with the thought "if there is a big rise, I will sell them and make a profit".
