How are you friends! I hope you are well, I am also Alhamdulillah. Friends, I know all of you may be worried about the market situation. But as I have said several times in previous posts that even if the market is bullish right now it may give buyers an opportunity to buy and that's what the market has given. But don't worry, the market will go back to its previous position in a few days. Anyway, that is not the topic of my discussion today, but today I will talk to you about why it is not always convenient to trade meme coin.

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Friends we all know that cryptocurrencies are created for some reason and in some cases their functions are very important. But meme coin is a type of coin that is usually useless. They are made for fun. None of these works. And so we often notice that most meme coins turn into these shit coins. A meme mainly gains popularity when it has a large community and in most cases a large person or organization is behind it. As an example we can see doge coin, it has a big community as well as a big person like Elon Musk behind it. We've seen before how a tweet from him can have a huge impact on coins. But doge coin is a meme coin which means it doesn't work, it's just a coin made for fun.

Also we see many popular meme coins in the market, like pepe, bonk, shib etc. And one big reason behind their popularity is their huge community. But now speaking we often see many traders enjoying huge profits from meme coins. See, it is true that meme coins do not have any special function but when they become popular, many big investors notice them and invest in them, then it is seen that those coins perform very well in the market. But that's not for all coins.

Notice to give you an example, suppose you invested $1000 in doge coin today. And just after you invest Elon musk tweets that he will sell all his holdings of doge, you will see within 1 hour of his tweet doge will do a huge dump because then all retailers and investors doge. Coins will start selling. And if you can't get out in time then you must accept lose

See, this is always the case with meme coins, since they have no special function, when a big company or individual releases bad news, those coins get a dump and a pump when they release good news. In addition, coin companies also have some contributions. Because of this tumultuous situation after meme coins, many people prefer to avoid these coins because anything can happen at any time.

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If you want to trade meme coin yourself then you must know who is behind this coin. What is the max supply of this coin, how much is the total supply, how much is the circulating supply etc. Is it listed on any exchange etc. An interesting thing is that the founder of our community i.e. tron ​​fan club has a meme coin called pussfi. Although it is a meme coin, it has a huge community and is loved by everyone, so there is no doubt that it will perform better and position itself in the future.

So friends I am ending today here. Hope you like my post today. I am saying goodbye here today. Everyone will be fine.