# Are Meme Coins Safe?

By [CryptoAfridi](https://paragraph.com/@cryptoafridi) · 2022-08-21

---

While images are promoted as tomfoolery and carefree, there can be a clouded side to the digital money versions.

Not exclusively are costs very unpredictable, with numerous image coins falling almost 100% or even to focus in the ongoing bear market, however numerous allegations of treachery and awful aims against makers, who are frequently unknown.

there a few episodes where pioneers have been known to "make new coins, control 100 percent of the stock right out of the door, and afterward center only around making publicity so they can empty their stock."

"Purchasers of these tokens can be clueless retail members who may not completely fathom the hidden elements of the token being referred to yet sees paid big name supports via online entertainment or bot-driven action that causes it to seem like the resource is 'moving,'" he says.

That is not by any means the only concern. Numerous image coins are many times held by a little gathering who own enormous fixations. As per the information from IntotheBlock, 48% of DOGE is constrained by seven crypto wallets. That number is much more obvious for SHIB, where 69% of possession is concentrated among 15 wallets.

With such a high fixation, a huge financial backer could control the market with their situation or send the cost of the coin crashing down when they cash out their property.

While bringing in cash on image coins is in fact conceivable, it's anything but a slam dunk. These cryptos are dependent upon additional unpredictable elements than standard cryptos like Bitcoin and Ethereum, and the worth of an image coin can fall for the time being.

---

*Originally published on [CryptoAfridi](https://paragraph.com/@cryptoafridi/are-meme-coins-safe)*