![]() ![]() Memecoins and memestocks: Same madness, but worlds apart fundamentally.Top Memes Tokens by Market Capitalization.: Dogecoin price surges after tweets from Elon Musk and Mark Cuban.In the meantime, do your research and remember that crypto is very volatile.īut hey, you can’t get to the top if you don’t jump on at ground level. There is an endless supply of altcoins out there, so what makes one better than the other? I don’t have the answer to that, and it will be interesting to see how these meme coins grow in the coming days, months, and years. He wrote in a recent post on r/CryptoCurrency that altcoins are “like the roster of a petting zoo out there… Is this just FOMO and greed running rampant or am I missing something here? □” Of course, you will have some who are opposed, like Reddit user u/TrueNorth49th. It will be interesting to see if Mark Cuban, Elon Musk or Vitalik Buterin are correct about the future. In general, cryptocurrency is still in its infancy. Cuban said that he backs it because people actually use it for transactions, and the more people spending it means more businesses using it ( source). Plus, you have the Dallas Mavericks owner Mark Cuban, who said that the Mavericks were on track to complete 6,000 dogecoin transactions in April. But that was made up quickly by the end of the week when Elon tweeted that he was working with doge devs to improve system transaction efficiency. For example, this past Saturday Elon Musk was on Saturday Night Live, where he said that Dogecoin was a “hustle”, plunging the coin almost 30%. Figures like Elon Musk and Mark Cuban not only influence visibility but also have a major influence on the price and value of these meme coins. The more people that buy it, the greater the price and the greater the value. However, theoretically, the value of meme coins grows with the price, especially since there is no business attached to it. When investors drive up the price of stock prices, the actual underlying business of the company isn’t affected much by it. But there is one major difference between meme stocks and meme coins. ![]() These Reddit investors drove up the price of the stock to make a profit. The first well-known meme stock stemmed from r/wallstreetbets: GameStop. What’s the difference between Meme Coins and Meme Stocks? ![]()
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