By contrast, other cryptocurrencies—including meme-coins—lack Bitcoin’s solid foundation. Many are clumsy attempts to mimic Bitcoin’s success, often introducing technological modifications that ultimately weaken their core principles. Meme-coins, in particular, are created as mere jokes, with no real utility or long-term vision. They rely on hype and speculation, attracting unsuspecting investors with fleeting promises. In most cases, a significant portion of the initial token supply is allocated to the promoters and developers, who control most of the liquidity. This often leads to abrupt crashes, as promoters sell off their holdings once speculative peaks are reached.
A striking example is the Hawk Tuah meme-coin, inspired by the viral sensation behind the infamous “Hawk Tuah” gesture. The token saw a sharp collapse after its promoters cashed out, leaving investors with virtually worthless tokens.
The cycle is always the same: an enthusiastic launch, a rapid value surge driven by speculation, followed by an equally swift collapse.