Memecoins have the potential to drive rapid viral growth within the cryptocurrency market, as seen throughout 2024. They capture attention and quickly gain popularity among investors.
However, while they can boost market engagement, memecoins also pose significant risks. They are susceptible to pump-and-dump schemes, where prices are artificially inflated before a quick sell-off, leading to potential financial losses for investors.
This dual nature of memecoins presents both opportunities and challenges for those involved in cryptocurrency investments.
