Meme Coin mayhem: How Indian influencers are cashing out while you’re buying in
While global institutions quietly accumulate Bitcoin and other cryptocurrencies—signalling long-term confidence and pushing for ETF approvals that legitimize the asset class—Indian retail investors are being misled. Lured by the promise of “the next 1000x gem,” they’re chasing overnight riches, only to end up burned.
Behind the curtain? A network of so-called Key Opinion Leaders (KOLs) is more interested in pumping their bags than protecting yours.
Let’s be real: crypto was never meant to be a get-rich-quick scheme. It was built to shift power from centralised institutions to individual sovereignty. But in today’s Indian crypto scene, that original mission is being hijacked. Meme coins have replaced meaningful innovation. The hype has taken over education. And many influencers have turned their followers into one thing: exit liquidity.
How this scam works: A play-by-play
The pump is already over by the time you hear about it
Ever notice how a meme coin gets crowned “the next big thing” after its pumped?
Ask yourself: Where were those influencers before the rally?
The truth is that by the time you see a token trending, the real money has already been made. Early investors—including those same influencers—bought in during pre-launch or private rounds. Once the coin gains traction, social media hype draws in unsuspecting retail investors, price spikes. Volume explodes. Then… crash.
That’s not bad luck. It’s a deliberate strategy.
“It’s Cheap!” — The Oldest Trick in the Book
You’ll hear lines like, “This coin is just ₹0.00001—imagine when it hits ₹1!”
But let’s be clear: price isn’t value. Market cap and supply are what matter.
Take Shiba Inu, with a circulating supply of 589 trillion tokens. Compare that to Ethereum’s 120 million. Shiba might look cheap, but to 10x from its current level would require trillions in capital inflow—highly unlikely. Meanwhile, Ethereum, priced higher, has real fundamentals: utility, security, dev activity, and institutional trust.
They sell you the dream: “If you buy this token for ₹1000, you’ll make crores.” Let’s sell you the reality: the chances of this happening are as slim as breaking the speed of light.
Low price ≠ opportunity. It just makes the illusion easier to sell.
This is basic tokenomics—but greed clouds logic.
KOL rounds, insider bags & silent deals
Here’s what they don’t tell you: Most influencers aren’t just “sharing” projects—they’re profiting off them.
They’re getting tokens early through “KOL rounds” at heavily discounted prices or getting paid to promote. Then, they pump it on social media. You buy. They dump. Game over.
It’s not education. It’s not empowerment. It’s a calculated exit strategy disguised as a recommendation.
The Volume Problem: Millions of Meme Coins, No Staying Power
Thousands of meme coins are launched every day across blockchains. Most have:
- No utility
- No roadmap
- No long-term vision
Even the ones that go viral usually collapse just as fast. Once the hype fades, liquidity disappears, and you’re left holding bags no one wants.
Data shows that over 99% of meme coins eventually crash to near zero.
Why? Because they’re not built to last. They’re built to speculate, spike, and die.
The Group Play: How they manipulate signals for profit
Many groups are full of “paid calls,” “VIP signals,” and “insider info.” Sounds tempting—but think for a moment:
If these influencers were truly skilled traders, would they need your ₹2,000 subscription?
No. The real business model is you. They don’t make money from winning trades—they make money from your fees, your engagement, and your losses. Many of them even buy tokens or get paid before recommending them, then dump them into the pump you help create.
They don’t win with you. They win because of you.
Meme Coins vs. Real Crypto: A distraction from decentralization
Remember, meme coins aren’t what crypto is truly about. It’s about the massive shift toward decentralization—the core of the Web3 revolution. Global institutions like BlackRock are accumulating Bitcoin, not pumping memes. They understand crypto’s real value.
So ask yourself: Do you want to follow the hype, or do you want to be part of something that will shape the future?
India’s crypto scene is expanding—but so are the traps.
With millions entering the space, influencers now carry real power—and real responsibility. But if they won’t act in your best interest, you need to act on your own.
Don’t buy hype. Buy knowledge.
In a market built on speculation, knowledge remains your greatest asset.
[Disclaimer: This is an authored article by Zoina Shaikh, a Web3 entrepreneur and the founder of HODLPR, dedicated to educating investors on the true potential of crypto beyond the hype. With a deep understanding of blockchain and cryptocurrency, she challenges the status quo and empowers her audience to make informed decisions while avoiding scams. Views expressed in this article are author’s own.]
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