Its a minefield but if you get lucky with 1 then its all you need. I got lucky with 1 and made over 10k. But since then my luck has not been so good. I think the trick is to check the whale wallets in the memecoins that have hit the jackpot. These are the people in the know. Monitor the new memecoins that they are buying and copy trade. I reckon this is the only way to do it. I'm pretty successful at trading the traditional crypto and even I thought these were on steroids. Memecoins are just mental. Anyone that can make money on these over a long period is moving markets imo. There are just too many rugpulls.
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The way I see it, the main hope is that at one point retail really comes in which will likely make everything pump similar to what altcoins did in 2017. Right now it feels like the number of people who are actually deep into memecoins is still quite limited.
One thing is sure in that it's a ton of fun and I'm looking forward to see how it all will play out. Unless you take big risks on one coin and get lucky it will be hard to really make life changing gains with limited investment.
There’s a memecoin in Japan gathering pace and people think it’s the mysterious Shiba Inu founder Mephisto . It’s on BSC . Called Osaka Protocol . Worth a punt .
I never heard of it but looked it up, seems like it's an ETH coin that is 1.5 years old and it was was bridged to BSC 10 months ago. On eth the market cap is 85M. Chart looks pretty good in that it's 'only up' with just a 66% correction from the previous high.
It really feels like if you think you've seen all coins with a relatively high marketcap that always more of them pop up. It really makes me wonder where the space will go as in previous cycle there were only a couple and all money went into those.