In traditional investment rules, we must do fundamental analysis and then must have the skills to do long-term holding when investing in coins or stocks with strong fundamentals... these rules are starting to be forgotten by the meme coin community, where what I see is that meme coins can grow due to high hype and also the strength of the community can actually change the movement of the memecoin market price...
With this phenomenon, do you think the existence of memecoin will last long and will new hype always emerge that will give speculators the opportunity to survive in the meme coin space?
In all narratives that have come in crypto, I can say that meme coins is one that have lasted long the most so far, and I think that even going into the farther future, memecoins will still be very relevant, on like nfts that are fast becoming obselete.
I think the rise is memecoins is as a result of the several failed utility projects, alot of people got tired of buying into wonderful ideas that never see the light of the day, whereas meme coins comes, builds a great community and pumps crazy, while those who choose to invest in utility coins are still holding for several year hoping and waiting for just one more pump so they can, atleast, cut down some of their loss and get out, this is possibly the reason why many investors shifted their attention to memecoins, I inclusive.
And like I did have said before, meme coins will remain relevant for a very long time, as long as crypto continue to exist.