#BinanceHODLerPLUME Joke coins Most meme coins are largely owned by a few wallets (Whales).
This makes them easy to manipulate (Pump & Dump).
Example: In 2021, one whale sold massive amounts of SHIB causing the price to collapse by more than 40% within days.
5. Introducing new users to crypto
Although it is a "joke", meme coins play an important role in attracting people for the first time to the crypto market.
Many who started investing in DOGE or SHIB later transitioned to Bitcoin, Ethereum, and more serious projects.
⚖️ Conclusion
Pros: Attract liquidity, expand the user base, spread crypto culture.
Cons: Huge volatility, high risk, encourages speculation over innovation.