Crypto Expert Warns That Memecoin Craze is Fizzling Out Heres the Reason Why
Renowned cryptocurrency expert Michaël van de Poppe recently expressed concern that the memecoin craze may be losing steam and that only a select few assets have the potential to perform well in the future, after making a significant investment in altcoins.
Van de Poppe explained his skepticism towards memecoins, despite some individuals making millions from them, due to the underlying issues and risks involved. He emphasized that the majority of memecoins are created solely to exploit investors, with creators walking away with the bulk of the funds. He also criticized social media influencers and celebrities for using their names to promote memecoins and profit from them.
The cryptocurrency expert noted that the memecoin hype is fading, with memecoin dominance in major altcoin markets declining. He warned that there may not be much upside left for meme coins, advising caution when investing in them.
Despite his reservations, van de Poppe highlighted three memecoins, including Dogecoin (DOGE), Dog (Runes) (DOG), and Pepe (PEPE), which he believes have the potential to deliver high returns in the future and should be considered for inclusion in a crypto portfolio. He particularly emphasized the undervalued position of Dogecoin and its potential integration into a major social media platform as a positive indicator for its future performance.
Overall, van de Poppe’s experience in the crypto market has led him to stress the importance of conducting thorough research before making any investment decisions. He cautioned that investing in cryptocurrencies is speculative and carries inherent risks.
