Profitable Memecoin Strategies for Success in a Sensitive Space
Hint | Capital | Investment | Road of MEME | Bubble | Fundamental
Nowadays, everyone is happy and some people are upset when they see the meme coin. Memecoin has risen rapidly over the past 30 days, with a 700% surge. Looking at this hype, should we think about participating in Memecoin or not?
You might have noticed one thing here the coins of fundamentally strong projects are not performing as well as memecoins. In this FOMO, we keep asking ourselves the question of whether we’ve made a mistake by not buying in Memecoin.
BTC
Bitcoin is currently trading above $70,000. Being able to trade over 70000 indicates a very strong positive trade, but if we also want to see a push in Altcoins then Bitcoin will need to stay in the $60000 to $70000 area for a few weeks. After the halving, Bitcoin is expected to rise above $100,000, therefore this is a highly promising period. The most essential thing to remember throughout this bull market is correction. Up to 30% of the correction seems possible so even by accident, it shouldn’t be overlooked. Stick with the trend rather than going against it.
Many cryptocurrency values have increased during the past 30 days. Altcoins are on the rise, but this is not an Altseason. The Altseason is insane enough to be like witnessing a volcano erupt in front of your eyes. In short, it’s like a dream. The real Altseason will be somewhat different. Based on my many years of crypto knowledge, this might potentially happen by the end of 2024.
Tracking cryptocurrency performance over the previous 30 days reveals that several currencies have given returns of up to 800%.
- PEPE [ Pepe ] — 890%
- Dogwifhat — [ Wif ]— 840%
- FLOKI [ floki ] — 790%
For Example
If you had invested $100 in these coins a few weeks ago, they would now be worth around $1000. The major debate now is whether we should invest in Memecoins because they are performing so well nowadays. If you are thinking about it, I will try my best to explain it to everyone in detail on how to do so.
Meme Hint
Participate in Memecoins, but keep in mind that as fast as they go up, they also fall just as fast. It’s risky to trust memecoins because they might perform well over time and can also be scams or frauds.
Many people profit handsomely from the bull market. After making a 4x profit on their investment, they compare it to other coins that have returned 10x. Because of their greed, they invest their whole portfolio in bad coins, resulting in the loss of both the portfolio and the funds.
Investment
Never invest based on greed. Create a plan and stick to your calculations. When assessing any cryptocurrency, avoid FOMO while researching; your research could not be based on FOMO. Because FOMO shouldn’t be the only reason why the coin is rising.
It is important to make a strategy. The strategy will protect you from falling prey to greed and will constantly look over whether your every move is correct or wrong.
As of today, any fundamental coin, such as Pokadot, Cosmos, or Polygon, has only increased by 2x or 3x, but memecoins have increased by 7x-8x. Despite this, why should we invest in fundamentally robust currencies when we could invest in memecoins like dog, cat, and poop?
See, these dog and cat type tokens can give us high returns and their chances of going up are also very high but the risk of falling in them is also high. They are creating new things by working on coin projects with strong fundamentals and Such projects have more chances to survive in the bear market. Many times we have seen that even fundamentally strong coins like Luna have been ruined.
Instead of managing risk, putting all of the capital solely in meme coins can be extremely risky.
Road of MEME
Investing your entire capital in Mem Coin is like crossing the road blindly. If we cross the road carefully, everything is fine; otherwise, we all know what happens next. The founders of some meme tokens actually work to influence others, but some meme tokens come into the market only to carry out scam activities. We must take extra caution on this point.
If you want to try anything new, you should attempt everything in life. You may spend no more than 4%-5% of your portfolio or investment amount on exploring meme coins. You must believe that the investments made in these tokens have burned.
You might consider putting the 4%-5% funds in 2–3 meme tokens. The advantage of participating in 2–3 meme tokens is that if one is a scam, the other does not perform well, and the third skyrockets, your money will remain the same. One thing to remember is that in the future, it might be zero or ten times. So be extra cautious of Meme coins.
When your meme token starts performing well, you can withdraw your principal amount and try it in other coins to explore them.
Best Way: Create a separate portfolio of meme tokens.
Mistake
People make the mistake of keeping all sorts of tokens in the same portfolio, which leads to a constant need to acquire more risky tokens, worsening the portfolio’s state. Make sure you don’t repeat similar mistakes.
Many years ago, when the DOT-Com bubble broke, DOT-com stocks rose like meme tokens, yet 90% of those equities vanished. Fundamentals DOT-com stock underperformed at the moment, but after a few years of doing things properly, it began to rise.
Big drops in cryptocurrency have become common. Just think about it, some meme tokens will start crashing during the crypto fall, but if the team behind meme tokens develops the technology and starts bringing use cases to market, they can also perform well.
This is a sensitive space where anything can happen so be careful.
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Disclaimer
The information in this article is meant only for educational purposes. I am not a Financial Advisor and this article is not financial or investment advice. I am not affiliated with any of the websites, coins, or projects mentioned in this article.
