3 Signs That You're (Too) Deep in Meme Coin Bull Market Mania
With a meme coin bull market shaping up to start once again, and projects like Dogwifhat (CRYPTO: WIF) being anointed by cryptocurrency influencers as the next coming of Dogecoin (CRYPTO: DOGE) or another Shiba Inu, (CRYPTO: SHIB), the risk of investors succumbing to exuberance is high and rising. Between new memes stoking fresh engagement and climbing prices, it's easy to get caught up in the hype and make decisions that your portfolio will later regret.
Euphoria is a dangerous emotion for investors, especially when dealing in the most volatile and speculative cryptocurrencies like meme coins. But it's often hard to step back and tell with certainty when one is being overly bullish. Therefore, be on the lookout for these three signs that you're at risk of not abiding by your logical faculties while investing in memes.
A lot of the time, the catalyst that makes an investor buy a meme coin is that they find the meme to be funny. While it's not the optimal investment strategy, at a minimum such an approach validates that the meme can be entertaining to someone, which is key for its chances at grabbing more attention share and growing further. And as we all know, one core feature of the most effective memes, silly or not, is that once they're established in your brain, they can be hard to get out.
Source Fool.com
