Hello, everyone. A small reminder for all of you.
Whenever you see a cryptocurrency that has given you about 70% or 80% or 90% 📈, be cautious with those coins or currencies, mainly I'm talking about Meme coins. Here are the reasons 👇:
Meme coins are often heavily influenced by Social Media, trends, Celebrities, YouTubers. Therefore, they can move quickly in the market due to being significantly affected by Social Media, Celebrities, or YouTubers. However, these rapid price increases may not be sustainable, sometimes the price will drop, occasionally causing many new investors to lose money.
Not only that, but because meme coins often start with a small market capitalization, it doesn't take much time to push the price up or down with a high percentage.