Man, oh man! These meme coins have been going crazy! So crazy that there was one particular coin Pepe that I reported about on April 20 last year and if I would’ve just put $200 on that one coin, I would probably be writing this from a beach in Tahiti, but I’m not a big fan of meme coins, and I am not a big gambler, lol! This market has totally changed my outlook on meme coins and I definitely put some respect and money on their names now.
Meme coins fall into the category of what crypto enthusiast like the call degens. These coins serve no purpose, have no utility and most of them will go to zero eventually. On the crazy side of things, there are some meme coins that came out and made over 1 billion and $2 billion within 24 hours of being launched. So that means we are officially in a bull market and people can literally get rich overnight if you do the research and if you’re willing to take the risk.
Some of it is skill. Some of it is luck, but most of it is being in the know. Getting alpha on Telegram, Discord or Twitter is the difference between you finding out about a coin early, with a low market cap and making a serious bag or finding out when the coin has reached its peak, and you end up buying the top and getting rekt’d.
Another good way of getting great information is actually networking at Web3 crypto and black chain related events in your cities and towns. If you don’t have one, create one. If you’re not up to that, find some people on social media who are tapped in to this space and follow them and their followers. These are a few strategies you can follow to get information on Meme coins but as a cautionary disclaimer, please do your research and only put in what you can afford to lose because most of these coins will eventually go to zero.
*not financial advice.
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