Meme Coins Lure New Crypto Users But Mostly Benefit Developers' Short-Term Profits
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Meme coins bring new users into crypto but often extract value from the ecosystem when developers "rug pull" and cash out profits.
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Most meme coins die quickly after launch because developers are focused on short-term profits rather than building enduring communities.
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There is limited on-chain liquidity and "rotator" traders rotate between new meme coins trying to catch pumps.
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Meme coin mania redirects developer talent away from building legitimate products to get-rich-quick schemes.
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While meme coins can produce big wins, odds of profit are very low overall so buyers should view purchases as pure gambling bets.