By: Matthew Fiedler
In the ever-evolving world of cryptocurrency, meme coins—tokens inspired by internet culture—have exploded in popularity. Coins like Dogecoin and Shiba Inu have made headlines for their meteoric rises, sparking a gold rush mentality among new investors. However, sinister coins like Trump$ and Hawk$ have emerged as quick rich schemes for the makers. Beneath the hype lies a volatile and risky landscape that many aren’t prepared for.
I spoke to Mullings Geoffery, an economics Professor who has had his own crypto project, and asked him why people invest in meme coins.
“It’s a little bit more sophisticated than gambling,” Mullings said. “Meme coins have an established community, and ‘investors’ are aware of how highly volatile it is.”
Unlike Bitcoin or Ethereum, meme coins often lack real-world utility, development roadmaps, or serious financial backing. In order for a coin to have predictable value, it needs to have a real world use. Project managers like Mullings create utility by creating value in trading or games. Many are launched as pump-and-dump schemes, where early adopters cash out at the peak while unsuspecting newcomers are left holding worthless tokens. Rug pulls—where developers drain liquidity and disappear—are disturbingly common in this space.
What makes meme coins especially dangerous is the illusion of community-driven value. Social media influencers and anonymous developers can manipulate prices by generating artificial hype, leaving retail investors exposed to massive losses. The lack of regulation means there’s little to no recourse once money is lost.
Before investing in any meme coin, ask yourself: Is this project built to last, or just built to go viral? In the world of crypto, entertainment doesn’t always equal safety—and meme coins are often more gambling than investment.