Honestly, I think these memecoins that celebrities launch have one goal: to suck us dry.
"Politicians who know nothing about crypto launch memecoins and call it innovation" - found on X. It's ridiculous. If the zero-sum game theory is a reality in the crypto markets, this is the class of crypto that comes closest to it.
$Davido, $Trump, $Ronaldinho, $Libra from the Argentine President... the list is long.
The principle is simple: they launch, they hold a large majority (e.g., 70% of the total supply), they entice you to buy, then they liquidate their 70% on the market and run away with the money, which brings the value of the memecoin down to almost $0. To succeed, you need to buy right at the beginning of the launch (within the first 5 minutes, for example), which is very unlikely if you are not in the know, meaning you do not have access to privileged information: like being informed of the launch time and the contract before the launch or the time of the rug.
A simple way to avoid these traps is to use bubble charts to visualize on-chain activities before committing. On this note, I wrote an article that explains how to get started with bubble charts (@Bubblemaps.io ). I'll put the link here 👉🏾 Lien
