Forgive me for the degeneracy that you're about to read. I promise I'm only an ape on weekdays and weekends.
Token: MEMEAI.
https://coinmarketcap.com/currencies/meme-ai-token/
Date of purchase: 04/03/24.
Purchase price: $0.00091.
Current price: $0.0171 (time of writing).
So I think I got a little lucky. Whilst searching for a degen play to add to my portfolio I decided to search CMC for memes. Came across the undeniable gem that is MEMEAI; a random shitcoin which at the time had roughly $500k market cap. Bought in and quickly watched it rise some 35/40X but I haven't sold because of gas fees.
Decided I'm going to try and ride this towards $0.10 before selling and then move the $ into much safer top 20 plays. If it works I'll literally change my life, if it doesn't then I only lose a night outs worth of money.
A few tips for spotting purely degen meme coins:
1) Find a coin that's flatlined/crabbing sideways with little to no pumps to the upside.
2) Make sure it's available on an easily accessible DEX like Uniswap and not on any major CEX.
3) Preferably choose a coin that is relatively new and has no previous resistance levels. This doesn't mean a historic coin won't pump, but it worked for this one so that'll do.
4) Check Etherscan and the coins website for all of 10 minutes. Check the hodlers amount, wallet histories and transactions (you should aim to check for at least 5 minutes before your brain goes numb). Check the tokenomics, for what it's worth..
5) Invest money you could lose 100% of and not care about.
6) Move the coins to safe storage after you but it; external wallet.
7) Have a plan and stick to it. Don't try and day trade unless you can be bothered with the stress and fees.
8) Probably don't listen to me because all of my gains are currently unrealised.
I'll update if this actually comes through and I sell/move the money to safer plays. If this does occur I'll include a few more specific details on price and value that doesn't need discussing here just yet.
And yes, I know this I am being regarded but I don't care.
Grats on being so early on this one! Im also holding. Got in at 0.008! Great community and the chart is looking fantastic. Bullish!
Thank you for sharing your experience and congratulations on what you have achieved.
I have a question, I am a beginner in this and I would like you to explain to me point 6 on your list that I cannot understand. Thank you very much and continue the success!