The recent cryptocurrency market crash has shaken investors’ trust in several crypto projects. As a result, investors are prompted to rethink and reevaluate the fundamental aim of their digital currencies investments.
The crash has proved more severe for cryptocurrency enthusiasts who put their money in meme coins like Dogecoin (DOGE) and Shibu Inu (SHIB).
According to a CoinMarketCap estimate, 295 meme coins are circulating in the ever-expanding crypto verse.
Despite their goofy origins, these satirical coins have gathered a sizeable following of enthusiasts charmed by the low-stakes, high-gains game of meme coins. As the coins’ popularity has grown, so have their prices, going from a tiny fraction of a penny to a slightly more significant fraction. .
What is Fueling Meme coins
Meme coins has entered the mainstream due to celebrity shoutouts, social media frenzy, and millennial and Gen Z investors boosting their prices.
Many investors use memecoins—with their small buy-ins and low stakes—to dabble in crypto without taking on significant financial risk. The ability to turn a relatively small investment into a large windfall of wealth is undoubtedly appealing to the public.
All Bark, No Bite?
Unlike Bitcoin, Ethereum, USD coins, and other popular crypto tokens, meme coins don’t have any intrinsic utility, and their values are primarily driven by speculation and investor enthusiasm.
Specifically, for meme coins, a lot of what drives the price, apart from speculation, is the community’s enthusiasm. It can be exciting and fun, but you should not consider it a long-term investment, unlike other cryptocurrencies created with purpose and specific functionality.
While many investment advisors are warming up to cryptocurrencies in general, they remain wary of tokens that lack real-world utility or a role in decentralized finance (DeFi).
Investing in Utility Tokens
However, it is notable that while investors have become skeptical of some cryptocurrencies, they are more than willing to invest in tokens that have proved worthy in these challenging times.
Investors have been switching their sides from meme coins to real-world utility tokens like BudBlockz (BLUNT), which has not only stood firm but has also been growing quickly.
BudBlockz (BLUNT) has performed exceptionally well during its private sale and ongoing presale and is up by 90% since its inception. Besides, many experts have predicted that the BudBlockz (BLUNT) could rise by another 200% in the coming months.
BudBlockz (BLUNT) has emerged as a shining star in the cryptocurrency market during a time when most digital tokens find it hard to survive. BudBlockz is the world’s first blockchain-based marketplace where cannabis enthusiasts access the global cannabis markets privately and securely.
The platform will facilitate transactions related to cannabis assets in the real world and virtual landscapes while allowing NFT shares for farms, dispensaries, and more.
The ongoing BudBlockz presale is an excellent opportunity for investors to make a decent profit, as many experts predict a tenfold gain for BudBlockz in the coming year.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
