TL;DR

• Meme coins kind of feel like fad diets: there's the promise of huge returns in a shorter than normal timeframe, but eventually it all falls apart.

• Launched on April 14 (yep, less than a month ago!), PEPE grew to a market cap of over $1B, bringing it into the top 50 most valuable crypto projects.

• But over the past few days it's been tanking...Losing roughly half it's value (as of the time of writing) in the past three days.

Full Story

Meme coins kind of feel like fad diets: there's the promise of huge returns in a shorter than normal timeframe, but eventually it all falls apart.

Take the 'Carnivore Diet' for example, where people eat only animal-based products, including meat, meat, more meat - plus maybe butter and eggs.

Sure, on one hand, you've just eliminated almost all carbs and sugar which is a nice n' quick way to lose weight.

But you've also just removed all fruit and vegetables - and hey, we're not doctors, but they seem like a pretty important part of someone's diet.

Meme coins are great to begin with, the hype is growing and you're making money out of thin air (at least on paper)!

Until one day, the hype dies down, people start to sell, and you realize those fruits and veggies you've been missing? They're the crypto equivalent of project fundamentals.

That's exactly what's happened with everyone's newest favorite meme coin, PEPE.

Launched on April 14 (yep, less than a month ago!), PEPE grew to a market cap of over $1B, bringing it into the top 50 most valuable crypto projects.

But over the past few days it's been tanking...Losing roughly half it's value (as of the time of writing) in the past three days.

What's the takeaway?

Meme coins are like fad diets. It's fine to try them - heck, you might even see some results in the short term - but if you make them your long term strategy, chances are you'll be disappointed.