What is a Memecoin?
A Memecoin is a cryptocurrency typically existing within a specific blockchain ecosystem, in this case, the TON Blockchain. Unlike utility tokens that serve a specific purpose or project, Memecoins are primarily driven by community sentiment, culture, and humor. Think of them as digital tokens born from inside jokes or viral trends that unite a community of believers.
While these coins may start off as jokes, they have the potential to grow significantly, as we’ve seen with DOGE, SHIB, and WIF. Memecoins are tradable on decentralized exchanges (DEXs) like DeDust and StonFi and have the same market elements as other cryptocurrencies, including total supply, market cap, and price movements.
Gas Pump: A Launchpad for Memecoins
Gas Pump is a unique launchpad for Memecoins on the TON blockchain, recently making headlines by introducing audio Memecoins—a creative twist that allows creators to mint not just visual memes but also audio files on the blockchain.
For creators looking to launch a Memecoin via Gas Pump, the process is straightforward. It costs about 0.2-0.3 $TON to mint a Memecoin. After launch, the Memecoin can be traded through the Gas Pump Telegram MiniApp, where the community can engage with and trade newly minted tokens. Once a Memecoin accumulates 1,000 $TON in value, the system automatically creates a liquidity pool, launching the token on DeDust for broader trading access.
Wallet to Use for TON Blockchain
To interact with the TON DeFi infrastructure, Tonkeeper is the recommended wallet. This wallet not only facilitates your Memecoin transactions but also allows you to store and manage your TON tokens. It's also important to ensure that the Memecoins you're trading are on the verified token list inside the Tonkeeper for added security.
Keep in mind that every transaction on the TON blockchain incurs a small gas fee of around 0.1-0.3 $TON. So, always ensure you have a bit of TON in your wallet for smooth transactions.
Essential Research Tools
When trading Memecoins, research is critical. Some tools to keep on hand include:
DexTools and DexScreener: These are excellent for keeping an eye on the price charts and trading volumes of your favorite Memecoins.
TonViewer: A tool to view token transactions, holders, and verification statuses.
These tools will help you stay informed about the performance of Memecoins and assist in making smart trading decisions.
How to Use DeDust for Trading
DeDust is one of the primary DEXs where Memecoins can be traded. Here's how to get started:
Connect your wallet via the DeDust Telegram MiniApp.
Navigate to "swaps" and search for the token you want to trade.
If the token is unverified, you'll need to search using its Contract Address (CA), which can usually be found in the token's bio.
After importing the token, input the amount of TON you'd like to swap and review the conversion rate.
Hit "Swap" and confirm the transaction. The process works similarly when swapping Memecoins back for $TON.
The Reality of Memecoins: High Risk, High Reward
Most Memecoins will lose their value and fade into obscurity. The real challenge and opportunity is identifying the next 100x Memecoin, though it may take multiple attempts to find success. Keep in mind that Memecoins are highly volatile, and it's crucial to never invest more than you're willing to lose.
Final Thoughts: Trade Responsibly
As you explore Memecoins, it’s essential to stay cautious. Always take profits when the opportunity arises, never go all-in, and maintain a reserve of $TON for transactions. Your goal should be to strike the balance between finding that next big Memecoin while managing the risks involved.
Disclaimer
This article is for educational purposes only and should not be considered financial advice. Memecoins are speculative and risky, so proceed with caution and make informed decisions based on your own research.