Hello, Guys ๐ค. A small reminder for you all.
Whenever you see a Cryto currencies that has being giving you like 70% or 80% or 90% ๐, be aware of such coins or currency, mostly I'm talking mostly about the Meme Coins. Below are the reasons ๐:
Meme Coins are heavenly influenced by Social Media , trends, Celebrity, YouTubers. So, they can move rapidly in market because of being greatly influenced by Social Media , Celebrity or YouTubers. However, these rapid increases of price may not be permanent sometimes , soon the prices will fall down sometimes loosing many new investors money.
Also, another factor for the rapid increases of Prices is the ๐ Pump and Dump Schemes. Sometimes, groups or individuals manipulate these coins in "pump-and-dump" schemes, artificially inflating the price to attract buyers, then selling off their holdings and leaving new investors with significant losses.
Not only that , Since meme coins usually start with small market caps, it doesnโt take much to push the price up or down by high percentages.
Last, but not the least ๐ Meme Coins have Low Liquidity, Many meme coins have low trading volumes, making it easier for large holders (or "whales") to move the price significantly. When these whales buy or sell, it can cause exaggerated price shifts.
๐Since, Meme coins has low Liquidity, so, like you see that a certain meme coin raised up to 90% but after sometime it falls down immediately and because of low Liquidity You will have problems to Sell the Meme coins once it's starts moving Bearish or downwards.