After making huge fortunes from the last explosion of Dogecoin, investors are seeing potential gains in meme coins once again. The recent success story was an investor who turned a $251 investment in PEPE coin into $1.14 million in just 4 days. Additionally, an MEV robot profited around $1.5 million from trading PEPE trading pairs.
Floki Inu and BONE have also shown promising results compared to other meme coins like Dogecoin, Shiba Inu, and BabyDoge Coin, with both fetching investors returns of over 8% each in the past week.
Despite the potential for high returns, meme coin investments always carry a significant level of risk. Exponential rallies in value are not common, making memes an unreliable long-term investment.
This was demonstrated when a Twitter user recently asked how to turn $1,000 into $100,000, asking if NFTs or meme coins were the better choices. While many responded, including Dogecoin founder Billy Markus, it’s important to note that neither option can guarantee a profit, and careful consideration of the risks should be taken before making any investment decisions.
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Wise Words from the Creator of Dogecoin
Despite creating Dogecoin, Markus has consistently emphasized that the project was intended to be a fun meme. Therefore, he responded to the question of whether NFTs or meme coins were the better investment option for turning $1,000 into $100,000 with a single-word answer: “neither.”
This suggests that Markus is not biased toward memes and does not believe either option will likely yield the desired results for investors seeking high returns.
While there have been some success stories with meme coins and NFTs, it’s important to note that investing in these assets comes with significant risk. Many investors have lost funds during bear markets, and there have been instances of rug-pulls and scams.
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As such, it may be safer for investors to avoid diverting funds towards these assets and instead take a more conservative approach. After all, as the saying goes, every penny saved is a penny earned.