If you think meme coins are a waste of money, a joke and that you should never mess around with them, then you should reconsider your approach towards them. This is what this guide is about… because we’re going to change your mindset and approach towards meme coins. They’re a goldmine when treated correctly, so let’s learn how you can do it.
Foreword about risk
It’s important to say that we are solely talking about spot/holding, regular trading so to speak. You should never – unless you’re a pretty experienced trader and you know exactly what you’re doing – trade derivatives based on meme coins using leverage. That’s a quick way to lose all of your capital, especially if you opt for using cross instead of isolated.
Platforms like Bitlevex and Binance Futures are good for put/call options based on solid coins such as BTC, ETH, DOT, SOL, etc. However, when it comes to meme coins, only stick to the spot. You will thank us later.
Why should you care about meme coins? – A few successful picks
Perhaps you’ve heard about $SHIB, the clon of $DOGE. Had you invested $1,000 in $SHIB back in February 2021, you would be a millionaire. Over x1,000, and it has done a lot more for people that invested when the project first appeared. For example, you have the secret $SHIB investor that turned $8,000 into $5B dollars…
This successful case is enough to show you the potential of meme coins. They are fueled by public euphoria, and hence, they are not to be underestimated. Now, we are going to share more successful picks.
Just like $SHIB, it helped a lot of people to become millionaires. For example, you have Glauber Contessoto who invested $250K in $DOGE on April 15th at a price of $0.045 each. His $DOGE holdings are now worth over $1M dollars, and if the price comes back to the ATH of $0.70, he will have nearly $7M – and that’s a pretty good profit.
$SHIB and $DOGE are not alone in the Millionaires Moon Club, because $SAFEMOON has also helped plenty of people to become pretty rich. If you had invested only $100 at the launch of this cryptocurrency, you’d have had $8M dollars in April 2021… you’d have multiplied your capital by x80,000 times – and that’s enough to change your life.
Finally, now you have $KITTY, another memecoin that has helped a lot of people to x20-x50 their investment depending on their entry price. Not some crazy growth as $SHIB or $SAFEMOON, but it’s a good example to see that there are valid memecoin plays out there, you only have to look for them.
Now that you have the top 3 examples of meme coins being successful, along with a more down-to-earth case, let’s talk about how you can actually make money out of meme coins.
How should you trade meme coins to make money?
It’s pretty easy, you only have to buy the meme coin on the right exchange or DEX, and simply hold it until you are happy with your profit. No rocket science here, but there are some critical tips you need to implement in order to be successful with these plays:
- Only invest a small percentage of your portfolio because these are highly-risky investments. Think of them as a gamble, the money you’d bet on the roulette or when playing online slots. They can make you rich, but they can also go to zero and leave your investment worthless
- Buy it and forget about it. You should monitor it every now and then, but for the most part, forget about it. These plays can take time, especially if you buy during the bear market. So, patience pays big time here
- Have a plan for cashing out, because everyone wants to be rich so they will be selling like crazy when the time comes. The best thing you can do is to take profits gradually. For example, when it hits x10, you retire the 20%, and when it hits x20, you retire another 20%. You can adjust the targets and allocations according to your risk level.
What to do with your memecoin profits?
The best thing you can do is to invest in solid projects that haven’t rallied yet. Of course, you should also hold some of your profits in stablecoins for future memecoins, as well as for having fun… because this is what your money should be about, to bring you freedom and access to the good things of life.
Let us know what you think about this guide. If you want our personal help, comment below and we will guide you, so you can make the most out of memecoins.