#Elon started this trend of meme coins mania when he endorsed the $DOGE first. Retail went euphoric over it without thinking just over pure speculation and a golden boy of tech's words. The dogecoin mania showed something by creating history when it went up in a straight line rising by over 100s x within a very few week.
Something similar happened with $SHIB pure speculation driven growth lead to the creation of a multi-billion market cap assest out of a meme due to fomo of the retail.
Later $FLOKI pulled similar moves just due to the fomo of the retail pver pure speculation of it being the next doge or shib.
Very recently the #PEPE did the same thing.
Why was the retail buying the useless meme coins in the first place? There two answers to this question:
Elon (there is no denying it he was the father of all this mania by using his influence)
There is a factor of mathematics which plays right into our imotions as humans being greedy. What is this? Let's say you one of a millions of retail with a budget of 1000 dollars or lower, you would want to buy which has very low price and in the meme coins there are zeros digits after decimal which makes them very attractive. As you can buy a shit load of coins using your small investment. Retail was sold the dream of seeing the price of their memes at 1 dollar one day which would mean a 1000x return at least. Retail do not put much thought into the supply and marketcap of an meme coin. The 1 dolar price would have meant trillions of dollar marketcap for these meme coins but for retail the dream is more important than the reality.
This dream is the reason, the next cycle we will see rise of another useless memecoin. Don't fade them if retail fomos it will rip.
Most important thing to consider here is that none of the old meme coins will ever comes back to life bacause of the millions of bag holders who are waiting to get the first chance to get rid of their tokens at the first chance they get. Like the recent selling of doge by the dogecoin millionaire who held it all the way back from the top.
These died due to lack of any useless utility so watch out for new narrative memcoins.
My prediction not financial advice:
Meme coins which are gaming projects will be great holds.
Follow and share đ
