It's been a few months since my first dive into the solana eco-system and by eco-system i mean shitcoin markets since i've never seen anything else built on the chain.
I still can never figure why these chains get so popular over legitimate eco-systems like hive when they have nothing to offer.
But the money flowed from ethereum to solana so there are profits to be made.
I have a couple of long term holds on the chain one of them being GME or gamestop that i bought in the early days and never sold.
It had been dead for a long time before a sudden recovery just yesterday putting a bit of green back in the wallet after months of red in the meme markets.
Sold 3/4 of my stack, bought #usedcar with most of it and then picked up a few other shitcoins. I like to trade the margins on usedcar since it moves a lot and keeps a high trading volume.
The best site for this on solana is Jupiter where you can set limit orders.
One that i used to trade a lot is #DIP or in solana shitcoin terms, doginpool. But it has a 1M marketcap and 64K in trading volume after being on chain for months. Most are dead in a couple of days so it's not a bad one to buy/sell.
Bought 43K DIP at 0.008 yesterday.
Set a sell order at 0.015 which hit earlier today.
Set a new buy order for 100K DIP at 0.007 and will let it sit for a few days with the profits.
Will try to double and repeat a few more times over the next few weeks.
If i can hit this a few more times it will turn $30 in $300.
I might need to tighten the margins though to hit more often.
But solana has some weird trading patterns on memecoins.
The hardest part is finding tokens that wont rug and have a lot of volatility but if you can pick a few of them and have patience it's not too bad.
None of them have any real value at the end of the day so it's still a risk but you have to keep grinding.
Hopefully a few more of my old ones can come back to life now.
Posted Using InLeo Alpha
Most times I wish to buy and sell shit coins too but can be very risky
What if I lose😅
I have no idea why these meme coins are rising over the years. I think they are kind of like rug pull scam that just keep on growing and in the name of airdrops people just believe them.
You've said it all, most shit project are just about the money, and they use this to make up for the lack of innovation.
Nice profits you've made there, keep it growing