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MEMECOINS
Today we are going to be talking about memecoins. Memecoins are tokens built in a particular blockchain that are majorly for the community. This simply means that unlike DeFi protocols whereby founds has large amount of the coin, memecoins is said to have little or none of the token to founders which means that everything is said to be distributed equally.
Memecoins has both its ups and downs which I'm going to be discussing with you guys below;
Memecoin is said to be a community driven token but at the same time a place where the largest rug pulls can happen. Rug pulls in the sense that the one with the highest token can decide to pull out when he or she sees the market is favorable leaving everyone on the losing side.
Trading memcoins can make you rich overnight still the same time make you poor overnight, its like a high risk investment platform, so the advise given to me is not to put all your capital in memecoins, if you have a $1000 its advisable for you to risk only $200.
so its memecoin a good investment platform, yes if you have a good training and study on what it entails.
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