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The Truth About Meme Coins

Background

One major goal of $REDCUP is to build trust & transparency, so let's talk about meme coins. They never have any intrinsic value, and almost never have any utility. However, the same can be argued for Bitcoin, which now has a market cap of over one *trillion* dollars. 

 

There are also meme coins that now have a market cap of *billions* of dollars. So, if these projects have no intrinsic value, why is there so much money surrounding them? Community. Being apart of an internet community is not a new phenomenon. Youtubers and bloggers have been doing it for over a decade. However, assigning hard value (price) to these communities is new and still in its very early stages. 

 

Humanity is moving online forever. Let's look at a few examples of where we can already see this happening:

 

  • Most corporate jobs are now remote positions. The highest paid employees are able to do their job from home in pajamas. Trends show there is no sign of this slowing down despite the end of the COVID-19 pandemic.

  • There is no denying that artificial intelligence (AI) is the future. NVIDIA is a company that makes chips that power the process of most AI technologies. The company now has a market cap of over $3 *trillion* dollars and is up about 3,000% over the course of the last 5 years. 

  • Virtual reality (VR) is still in its early days, but experts believe that one day every person will walk about with a sleek pair of sunglasses that doubles as a virtual reality interface (like VR headsets do right now).

While the internet continues to take over, so will meme coins that are focused on long term growth. 

The Hard Truth

Modern technological advancements are all running into the same issue: legislation can not keep up. This is why celebrities can launch cryptocurrencies, hype them up for a couple days, and then make millions of dollars by selling after all their followers have bought in. Congress will pass laws to make this illegal, it just has not happened yet. This brings up an important discussion about meme coins: are they just Ponzi schemes? The honest answer is yes, nearly all of them are. 

The meme coin space is dominated by rug pulls, pumps & dumps, and Ponzi schemes because there is no regulation in place yet. So, how do you get exposure to this growing market without getting scammed? That is where $REDCUP comes in. The main intention of this coin is to bring honesty to Solana, cryptocurrency, and meme coins in general. The team wants people to be proud to put their money into this project. Other teams are focused on creating FOMO and hype so they can sell at a higher price in a couple hours, days, or weeks. $REDCUP plans to build for decades to come. 

The honest truth is 99.9% of meme coins are Ponzi schemes with no long term intentions. This is why communities do "raids" on twitter and spam comments sections with their ticker. That will not be the way we operate. To be honest, we are not the only ones. In a world of millions of meme coins, the 0.1% that are not scams ends up being many projects. The below chart will provide some alternative options we recommend if $REDCUP is just not your style. 

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