- According to Rodney, meme coins are here for a good time, not a long time.
- DOGE is the gold standard of meme coins because Elon Musk is holding it.
- Besides DOGE, SHIB and PEPE, other meme coins won’t be around for long.
Meme coins are here for a good time, not a long time, according to Rodney, a renowned meme coins trader and YouTube crypto content creator. Rodney made the statement during a discussion with Kelly, the YouTube channel Discover Crypto’s host.
According to Rodney, DOGE is the gold standard of meme coins, and the reason for that is because Elon Musk is holding it. He also recognized Shiba Inu and the new PEPE token that has a little bit of life, but besides that, others are not going to be alive for too long.
Rodney used an expression, “If crypto is the red-haired child of finance, then meme coin is the red-haired child of crypto.” In his opinion, trading in meme coins is similar to gambling.
In the discussion, Rodney acknowledged Kelly’s position that most people invest in meme coins because they want to outpace the gains of Bitcoin. According to Kelly, such scenarios are common after the Bitcoin halving, when the market moves into intense volatility, with most cryptos registering new all-time highs. He noted that many users look towards meme coins because of their exponential movement patterns during such periods.
However, Rodney explained that he trades meme coins to make quick money during the good times. Having succeeded in making profits from meme coins trading, he then channels his gains into more sustainable projects like Bitcoin.
The meme coin investor further discussed his trading pattern with Kelly. According to Rodney, he is not a trading extraordinaire but adopts a Dollar Cost Average (DCA) investment pattern. He believes that everything crypto revolves around Bitcoin, and if Bitcoin dies, the rest of the cryptocurrencies will become extinct.
Rodney also thinks that Ethereum is the best network that developers build on right now. He acknowledged some of Ethereum’s weaknesses, such as relatively low scalability and speed. However, he believes it is the next safest option after Bitcoin until an actual ETH killer arrives.
General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.