75% of Influencers Promote Dead Memecoins

[Suba]

The latest research results from CoinWire conducted manually for three months by identifying 380 crypto influencers on account X, who have at least 10k followers and they often promote memecoins. Furthermore, the CoinWire research team compiled a list of 1570 memecoins that have been promoted by influencers, which turned out to be more than 75% of dead memecoins, meaning memecoins that are not profitable or even loss-making.

MemeCoin Phenomenon
Several famous memecoins such as Bonk, Doge, SHIB etc., do not have strong fundamentals, do not have technological innovation only based on hype on social media and community sentiment.

 

[Laurentta]

I am aware that many influencers promote dead meme coins and that is why i hardly involve myself with anything that has to do with meme coins.

 

[magnus2022]

Most memecoins have no value and most social media influencers don't know much about the technicalities of cryptocurrency. Therefore, what do you expect from such novice.

 

[Suba]

However, I still hold the Bonk meme coin that is being staked on their official site. The rewards are very tempting, but this is just speculation and I have to be prepared to lose if the price of Bonk continues to fall.

 

[Webster]

The latest research results from CoinWire conducted manually for three months by identifying 380 crypto influencers on account X, who have at least 10k followers and they often promote memecoins. Furthermore, the CoinWire research team compiled a list of 1570 memecoins that have been promoted by influencers, which turned out to be more than 75% of dead memecoins, meaning memecoins that are not profitable or even loss-making.

And that's one reason I'm no longer on X.
I got tired of seeing people peddling dead memecoins left and right and decided to leave.

 

[gwolf666]

In itself, the fact that it is a "memecoin" is a very bad idea. The only way to make money there is by trading according to the trend of what happens with a lot of leverage and withdrawing at the right time. Otherwise, if you buy near the last ones, you will clearly lose a lot of money.

 

[riberet19]

I never liked investing in memecoins, money for me is not a game, but there are many people who think it is, that's their business...

 

[Webster]

Several famous memecoins such as Bonk, Doge, SHIB etc., do not have strong fundamentals, do not have technological innovation only based on hype on social media and community sentiment.

Anytime I see an "influencer" tout a memecoin, I immediately put that coin on a "Do not touch" list.