I recently bought my first meme coin, $ANUS on Solana. I wrote about that here: Was I Wrong About Meme Coins? I got in around $0.000014774 per coin and rode the wave up and down. As usual, I never know when to sell something I like as I'm not much of a trader. What are the chances this meme could go to a billion dollar marketcap from it's current ~$6M marketcap?
Maybe I should have sold. Maybe it will eventually go to zero. There are thousands of meme coins out there. Why would this one be noticed instead of all the others?
Well, for me, it's about community. It's about a group of friends deciding to believe something out of nothing. All financial value is shared story telling and any group of people can tell whatever stories they want. Community currencies should be encouraged, and it's fun playing in these waters with friends of mine in Puerto Rico and elsewhere who are telling $ANUS jokes and thinking "What if...?"
If I had "sold" bitcoin for a "profit" early on when I first starting buying in 2013 (as many people did), I'd be sad about not having that BTC today. Instead, I used it as money while holding what I could.
I gave a talk recently which explains everything you need to know about bitcoin in less than an hour. I think I'll eventually do another one that focuses on community currencies and the phenomenon of meme coins. We have power to create the world we all want to live in. Money is, at its core, just a meme.
He who controls the memes, controls the universe.
I created this meme 3 years ago (I'm a big fan of Dune), and it's still one of my favorites.
Meme power > desert power.
So why this meme coin? Why $ANUS? Well, sometimes things just happen and when you're there at the right place at the right time, you roll with it.
From the Uranus "Brown Paper":
The age of Aquarius is ruled by Uranus, the planet that governs innovation, technology, and surprising events.
What could be more surprising than a community resurrecting an abandoned meme coin project with a bunch of jokes that never end? At its core, money is just a meme. If we strip everything away and just keep it fun, it doesn't need to be anything more.
Also, all this talk of butt memes got me to buy and install bidets for the whole house. They are excellent. I also think about this project every time I use them. :)
So what's my strategy with this? Acquire. If it goes to zero, I had fun, learned a lot about the Solana ecosystem, and lost money I was willing to put at risk. If it goes big... well what would it be like to own a significant chunk of a token like Doge ($22B marketcap) or Shiba Inu ($15B marketcap)? Even a half a percent of the total supply would be $110M and $75M, respectively. Wow! Could you have held Doge as it went from nearly nothing to what it is today? Could you have accumulated and then given it away to get more people interested in the fun?
I got in early enough to have more value in than I started with. This is when most sane people suggest you take your original investment off the table. Since I started with money I'm okay with losing, I took a different strategy. As the price went up, I used Jupiter to slowly DCA out my original investment in SOL. I then took that SOL and some ANUS and added to the liquidity pool on Raydium which earns me swap fees. As the price goes up and down, I'm essentially selling and buying, respectively. When the price went down far enough ($0.0005 range), I removed my liquidity and DCA'ed back into holding just ANUS, selling my SOL. Then, as the price recovered, I slowly DCA'ed out my original SOL investment again and once again added liquidity. Rinse, repeat. I now have more ANUS than I started with. And by "slowly", I mean buy or sell over a day or two using the Jupiter dollar cost averaging tools (which are pretty cool).
If you think a project like this has long term potential, the current price isn't relevant at all other than how you might acquire more from those with weak hands who are just hunting "the next thing" instead of building something over a long, steady process. If you think this has a chance of going big, your plan should be to accumulate and help provide liquidity for those who want out. Described above is a strategy you can use. Be aware of impermanent loss as well.
Some helpful links:
Discord: https://discord.gg/uranustoken
Coin Market Cap: https://coinmarketcap.com/currencies/uranus-sol/
Website: https://anusexplorer.com/
Solana Wallets: https://phantom.app/ or https://solflare.com/
Contract Address on Solana: 9hjZ8UTNrNWt3YUTHVpvzdQjNbp64NbKSDsbLqKR6BZc
Holders: https://solscan.io/token/9hjZ8UTNrNWt3YUTHVpvzdQjNbp64NbKSDsbLqKR6BZc#holders
DexScreener: https://dexscreener.com/solana/cu4pxu7vh7cfgjmsfzfehpp9aj6fa7ciqdsbvs5hekzk
You can buy SOL on any major exchange such as Coinbase of use a swap like https://simpleswap.io/ and then you can send it to your Phantom wallet to swap it for Uranus on Jupiter. :) Have fun, and make sure you confirm the token contract address so you know you're getting the real thing. Don't play around with meme coins (IMO) unless you already have a solid base (both financially and intellectually) with Bitcoin and maybe some Ethereum. That said, this can be a great way to learn about DeFi, market orders, swaps, dollar cost averaging, liquidity pools, and more.
See you on Uranus!
Always shill the Anus
Hi Luke. I wish you luck with your first memecoin purchase!
Memecoins have volatility so it's fun to try and trade them. You can practice things you mentioned here, Strategy, Buying, Selling. It's a risk of course, but if one starts with a small amount, and they consider it a lottery ticket of which they may never get back their original cost, then again, it can be fun.
I'll take a minute to shill our own HIVE memecoin,
interestingly called #PEPE which is one of the most well known memes in general and memecoins specifically. The well known PEPE is on Ethereum but we've had PEPE on hive-engine for a while now. The community is good, small but strong. It is getting a trading card game which is similar to Splinterlands soon. I know this because it's my game which people have been playing for 2 years. Now I'm making a version of it for the PEPE people.
So my shill to anyone reading this: take $10 worth of swap.hive and buy some PEPE. If you're a person who sees that memecoins are doing well out there on other chains, why not take a small position on Our Own Memecoin?
If you want to implement and test strategies for volatile tokens, and/or you want to be part of a community, PEPE, right HERE on HIVE, is here for you.
Not Financial Advice. Do Your Own Research. Never invest more than you can afford to lose. Can you afford to lose $10? No one knows but you.
Any questions from anyone reading this, please ask.
Buy/sell PEPE:
https://hive-engine.com/trade/PEPE