Attracted by the wealth effect, a large number of new people have recently poured into Meme currency trading, but it seems that only one out of ten can truly make a profit. Crypto researcher Rekt Fencer compiled 8 Meme coin trading experiences. Maybe it can help newcomers avoid some detours.

PANews Note: This article is intended to provide market information and does not constitute investment advice, DYOR.

Don’t rotate projects too frequently. In this fast-paced market, it’s wise to move funds from one coin to another. In order to make a profit, you have to play musical chairs with your funds from time to time.

However, newbies can go to extremes.

For example, after the $BODEN coin suddenly appeared and skyrocketed, so did the craze for celebrity coins. Some Degens are abandoning $BODEN and instead focusing on newer celebrity coins that may rise in value within a day.

But at the same time, the $BODEN market cap grew from $20 million to $500 million in a month.

Use sniper robots

In current meme coins, you need to be better than 99% of the population to get a piece of the pie.

In gaming, speed is the key to victory. Every second can determine success or failure. This is where sniper robots come into play.

Of course, most public sniper robots may not be the fastest, but they are still fast enough to put ordinary Degens in the dust.

Follow Insiders

As we all know, insiders are quick to buy some 100x meme coins such as $BOME and $MEW as soon as they go online.

Once you find their wallet, you can copy the trade and potentially buy 10-100x the token.

Although finding their wallets can be tricky, and they tend to change wallets from time to time, it’s worth the effort, especially for newbies.

DYOR, DYOR, or DYOR

If your goal is to make huge gains, be sure to delve into the project by:

  • social media influence

  • Telegram activity

  • project team

  • Current and potential $CEX listings

  • Tokenomics

  • Marketing activities

  • narrative

  • Trading volume

Discover new narratives early

In order to maximize profits. Narratives need to be discovered early.

Cat coins like $MEW have become popular recently. By paying close attention to trends, you can buy cat coins early and easily buy a certain 100x coin. For example:

  • SC: $400,000 market cap ➜ $387 million market cap | 1,204 times growth in 4 days

  • nub: $6.6 million market cap ➜ $196 million market cap | 28 times growth in 6 days

How to discover new narratives early?

Keep an eye on the top coins by trading volume on DEX Screener and track the moves of experienced Degens.

small investment

Only allocate a small portion of your portfolio, or what you can afford to lose, to the meme coin circuit.

This approach simplifies the decision-making process. Meme coin trading can be considered a gamble, almost no one would put all their bets on one project,

stick to your strategy

Don't be affected by market fluctuations. Always stick to your original plan to avoid profits turning into losses.

There are many strategies to lock in profits:

  • Cash out 50% at 2x earnings.

  • If you've done your homework, hang on and wait for 10x - 100x returns. Statistically speaking, if your research is reliable, it will pay off over time.

Develop a strategy that suits your style. Draft it, test it, and then execute it to the letter.

Stick to profitable coins and abandon losing coins

It's easy to fall into the trap of abandoning winning coins and doubling down on losing coins.

If your tokens have doubled, don’t rush to cash them all out. Give it a chance to rise further.

When a token continues to underperform, it may be wiser to let it go, even at a loss. And shift attention to the leading coins.

The following is a list of Meme coins that the author focuses on

  • $BODEN: $479 million market capitalization | SOL Ecosystem

  • $BALLZ: $30.1 million market capitalization | SOL Ecosystem

  • $tremp: $86.5 million market capitalization | SOL Ecosystem

  • $SC: $128.8 million market capitalization | SOL Ecosystem

  • $nub: Market value of US$44.7 million | SOL Ecology

  • $mfer: market value of US$79.1 million | BASE Ecosystem

  • $MOG: $201 million market capitalization | Ethereum ecosystem

  • $ANDY: $78 million market capitalization | Ethereum ecosystem

NOTE: The listing of these tokens does not mean that all of them should be invested immediately. Take the time to research each project first, develop a strategy, and then make investment choices based on that.

Related Reading: The Solana meme circuit explodes! How to discover the gems that make you rich? You need to understand 3 major characteristics first

  • This article is reproduced with permission from: "PA News"

  • Original author: Rekt Fencer, encryption researcher

  • Compiled by: Felix, PANews