I’m seeing a lot of people on comments about bagworking in relation to token price. Bagworking doesn’t always mean price go up. Bagworking also doesn’t mean price go down. Bagworking is a mindset. A conviction you are showing on the timeline that you believe in something. Belief amongst meme coins prior to @blknoiz06 taking on solana:9cRCn9rGT8V2imeM2BaKs13yhMEais3ruM3rPvTGpump was probably at the lowest I’ve ever seen. However belief is what gets new people interested in onboarding. Shared Belief collectivized across many people creates inherent value. That inherent value is what actually impacts meme coins. At their core, memecoins have no “value”. The only value is the collective belief that price will go up. That is the essence of bagworking.
CliveShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.