Getting into the right memecoin seems to be the way to find fast and easy money, but remember it only looks easy afterwards. During the bull run in 2020-2021 there were young memecoins making 100X.s almost every month. However there were just as money tokens that did nothing as well as tokens rugging their gullible victims. Read on to find out how to make your memecoins fortunes. Most meme coins are actually are meme tokens based on Ethereum or Binance SmartChain. However the fees are much lower on Pancakeswap than on Uniswap. Chances are that the next big memecoin will be based on BNB rather than Ethereum.
- Keep it simple
If you want to make money in memecoins the best strategy you ever find will be ”buy and hold”. You will have to get in early in promising projects. Always do your research on tokens and when you find a real gem then get into the coin and hold it through the cycle taking profits on the way up. Do not complicate things. All people making money in memecoins did the same thing – they bought, they held and they took profits.
- Follow your own vision
Research can be a snare. Most people publishing content on the internet know very little about memecoins and possibly there only interest is to promote their own site with the same rubbish information as everybody else. While their blue chip picks might have limited downside you will not find life-changing memecoins on Robin Hood or Coinbase. You will have to learn how to use a DEX like Pancakeswap or possibly join the a very low tier Exchange.
- Ignore bad advice
To attract wealth always follow your heart and people with faith and commitment to a cause. Not people that do not really care about your investment, but simply want you to use their swap or their exchange. So much information about memecoins is sponsored, based or simply wrong. Find dedicated teams – and if you find that pearl of great price ignore what people say and commit to your token of choice. Join their community on Telegram. Take part in their efforts on Crypto Twitter.
- Stay clear
Yes memecoins is a speculative market. The risks are many. The chance of profits should not blind you. If you want to stay safe look for projects with locked liquidity. For instance in $SHELON the liquidity is locked for 18 years. This guarantees that the developer will not drain the liquidity from the project. You have to use common sense when investing. You should not enter a coin or a token if there is a great risk of a rug pull.
- Find assets of inspiration
The most important choice you make should be based on you finding inspiration in a token. If the community lifts you up then there is a chance of a high return rate. You cannot go on analyzing tokens to death like a computer. Analyzing is not the only requirements. We humans are not computers. A meme coin that spread fasts do this out of feelings of joy, awe and optimism. Use all the intelligence and experience you have. Avoid negativity and false experts. Try and then try again. The more experience you have the higher your chances to find the next 100X memecoin.
- Stay focused on success
If you enter the wrong coin or the wrong mindset then fade out. Cut your losses. Change your style. Find new and better communities. Network with people that wants you to succeed. If your memecoin investments are going nowhere take a break. Attend to other ways finding passive income or extra money. Mix things up. Always make mental health and success your highest priority. Be willing to admit that you have made a mistake. Then bounce back to your path of becoming successful. Implement whatever you need to implement.