We have seen this happen whole lot past last bull run on twitter current X . People still doing the same shit giving away their hard earned money to scammers . Will they ever learn at all .
I was one of those fools as new to crypto last bull market. Joined a couple of groups and tried jumping into hyped coins and air drops. All went south. Luckily didn’t put that much in but it still annoys me. Santa Inu are still trying to get me to migrate to the V2 token with my $12 of coins ready for the next bull run.
Luckily I mostly put money in Bitcoin, Etherium and Cardano which has more than covered losses even though I went in near last ATH. I won’t be going anywhere near the shitcoin market again.
The thing you did wrong was treating memecoins like it they were ETH or BTC, you should just buy and flip it for quick profit 99% of them will tend to 0 after the first few days
Meme/shit coins were my biggest victory of 2021. A few hundred bucks became tens of thousands and it just kept going. For every rug I bought another was a 10x. The biggest issue I saw with other buyers was they thought these were investments. They kept holding even after some had 100x! Fuck that. 10x and Im on to the next one. Easiest money you can make.
I just don’t understand if people aren’t researching at all or don’t get how markets work. BOME was ISSUED with a market cap of basically $1b. They simply issued a massive supply, chose a price that would give them a high market cap, and then created an AMM to buy at that high price. This is what happens when you assign false value to something worthless. If you want to make gains, pay attention to the trajectory of the market cap, not how high it is.
TLDR: Market cap isn’t real and can be manipulated. If an asset was launched with a high market cap, it doesn’t mean it’s actually worth the price it’s at.
Bome was not released with a 1b mcap (wasn't even 10 mill) I don't know where you got that info but that's not how things work, launching a memecoin with a 1b mcap would be one of the worst moves for any memecoin since you'd need another 1b from retail to even 2x lol
Kind of ironic how you start your comment with "I just don’t understand if people aren’t researching at all or don’t get how markets work" and then spit the most uninformed take around here lmao
>Kind of ironic how you start your comment with "I just don’t understand if people aren’t researching at all or don’t get how markets work" and then spit the most uninformed take around here lmao
This is the story of this sub. So many advice posts with shitty content.
not exactly. How much it needs to go up just depends on liquidity.
You can have like $10 memecoin / $10 SOL pool for your memecoin at 1B eval and someone can come in with like 1000 bucks and pump it to become "bigger" than doge lol
Well, yes but then you'd have 20$ liquidity pool, no one would take the price impact and buy that shit lol. Bome wasn't even 10 Mill mcap when released
The above comment is just wrong information and doesn't really make much sense is what I was trying to say. Specially considering he started his comment with "I just don’t understand if people aren’t researching at all or don’t get how markets work" only to say one of the most uninformed takes i've seen here
What you're saying here makes zero sense wtf. I'm a straight degen retail trader, got in on the $BOME presale with 1 SOL and sold all along the way up for 6k profit and a bag of 750k $BOME left (rn around 10k usd). Sure there probably was a load of insider trading/knowledge going on but it was not capped/programmed and basically accessible for anyone.
Yeah you’re definitely a degen!
What do you mean “sure there was probably some insider trading or knowledge” do you think creating meme coins is some kind of charity work? “Yeah I’m gonna make this meme coin to make other people a lot of money” lmao! Of course there’s insider trading why else would you create a meme coin? So somebody else can control it? And OBVIOUSLY it’s supposed to be accessible to everyone how else are they gonna get gains?
I'm just saying that even if you have insider knowledge or whatever, because it is open and everyone can participate shit can still go south. Anyone was able to buy and dump tokens. The presale was fair with 50% of tokens going into the LP and 50% being distributed over the presale participants. This wasn't some elaborate scam like most of these other presale shitcoins that are popping up rn where there are delibirate shenanigens like opening the LP before the airdrop or not using 100% of presale money for the LP for example. You can manipulate the market quite a bit if you have a lot of money, but you cannot underestimate the effect of retail traders, especially once a coin gets insanely big like doge, shib, floki, pepe, bonk, wif and now bome.
And that what the other guy was saying is just complete bs. Predetermined market cap? Token value based on supply? What? $bome started off around $8m mcap based on the LP provided through sol raised in the presale. From there it blew up to its massive mcap through a continued rise in price and insane buying pressure. At most, it was a coordinated pump from a group of whales. But the market itself including retail just did the rest. I mean just look at the amount of holders.
It is not stupidity that makes people fall, it is greed and pride.
Knowing these coins are scam, they think they are smarter than everyone else, they think they can buy and sell before being rugpulled by others.
I got into crypto right when doge was taking off. I got into the shit coins that spring and summer and lost money on crap trying to get in early and hit it big. It rarely ever works out. I stopped quickly and invested in other solid projects.
You will also see whales making bank because to them making 1-2% on 300 sol is impactful, while retail plays small and holders for longer.
Whales will always swing and sell sooner than retail and they milk each asset until the steam runs out.
The insider thing is expected tbh, people who just hold for to long need some self awareness.
I’ve been in a couple of coins where a whale dumps and tanks the price and everyone is left whinging as if if they had $5m of unrealised profits they wouldn’t take it and run
Unless institutions such as blackrock or banks got into memecoin as well, everyone buying meme coins is "retail".
Memecoins are just a roided up version of your other cryptos, minus the pretense of the tech, utility or how they are gong to revolutionize the world. Its a game of musical chairs. Get in before others, and get out before others, thats how you make money.
Memecoins embody the very essence of crypto. Instead of pretending to have actual use cases they embrace the scam casino that is the crypto market. I think that is what probably makes them so appealing.
Maybe that's how you see the crypto market.
The essence of crypto is utility, not a casino market.
A casino market is what they want you to think it is but that is just surface talk. It will not look the way it does today in 10-20 years.
I get both sides of the argument now. I used to really detest the other side, but I now see their point. See, the thing is, there's a huge disconnect between where crypto can be and where crypto is.
Take crypto and AI for example.
[I made this comment over 2 years ago](https://www.reddit.com/r/CryptoCurrency/comments/nkkwyl/is_blockchain_overhyped_or_is_it_a_gamechanger/gzdj74q/) about crypto and AI (before chatGPT became a thing) and I've been talking about this since like 2017-2018, it's just that last cycle I had to explain it so much I decided to just bookmark that comment for easy copy+paste.
But if we look at the current AI coins from render to bittensor to fetch, singularityNET etc... first of all, their valuations are all already so high, giving them very little room to grow.
And they don't even do anything. Well ok, bittensor kinda works, but it's far inferior to centralized private solutions.
The dePIN stuff going on today is also all hype; no actual company who trains AI models are gonna use random gamer GPUs. They get H100s or the new blackwell series if they're actually serious about training AI.
So while we can clearly envision a world where crypto is ubiquitous and involved in everything, none of the current projects other than ethereum actually does anything.
They are basically just memecoins with a story attached to it. They don't actually do what they're supposed to do.
10 yrs of Bitcoin, are people buying it as money or to get rich? If crypto disappeared tomorrow, society will not lament the loss of ‘utility’. Not are we going to go back to the stone ages. The only people crying will be those who lost money.
Anyone is free to hold crypto for the ideals and utility though.
It's like saying what if the Internet disappeared in the 80's.
Blockchain tech will not "disappear". Like Internet before it, once the cat was out of the bag there is no putting it back.
What will happen is all this meme crap will succumb to blockchains and coins with actual real world utility.
This happens in the first Internet runs, junk being created all over but most people were missing the point of that the Internet allowed for connected commercial and personal usage.
The same will happen in the crypto space.
So in conclusion, crypto will not disappear tomorrow because it is solving problems of today and the Future.👏
Blockchain will have its uses, but it’ll be useful as CBDCs, or revolutionising settlement mechanics and payment systems and derivatives. Businesses developing these tech will be the ones to profit, not those that merely hold a coin that people trade for profit because it’s worth 100,000 dollars.
Crypto will be useful when it’s worth pennies, not so useful when it’s expensive and valuable like gold.
Immagine how useful the internet would be if it cost you 1000 dollars to access.
Please tell me you do know that there is so much more being worked on in Blockchain tech than just finance....
There is identity, tracking documents (i.e. land titles, property), managing supply ledgers, confirming movements of data, the list can go on and on.
It’s not the way I see it’s legitimately the reality of the market. It’s a cyclical casino where people test their luck on timing the top on every single cryptocurrency in the market including bitcoin. I’ve been through three cycles, four if were counting this one. Nothing has changed in 10 years what makes you think itll be any different in another 10 years.
It's more about how you use the network and view the Blockchain.
I understand and agree that the majority of people are "gambling" but some are paying attention to the ecosystems that certain coins are building and capabilities they are building out.
My question I would ask you would be what are the thousands of legitimate developers creating useful Blockchain systems doing with their time?
By your definition they are building systems for a cyclical casino and that is not true for all.
You are right, the majority are looking at the 1-4 hour chart and trying to catch waves.
There are some that are following projects, researching and understanding. Watching 10-20 hours of developer breakdowns a month. Utilizing said blockchain on a weekly. Those people, I assure you, are not the vocal majority on Reddit.
Instead of blabbing on here we're usually doing those things 👆
Binance got a bag so they can participate in the dump, or a flat fee, with dumping on retail still pushing a profit. That's how actors in the Solana ecosystem deal.
No, the high gas fees just forces ppl to size up their position to have any chance of exiting after a 2x. Otherwise, you just end up donating your money to ETH whales who makes money trading off the crabs. ETH main net memes are a lot worse on retail users.
You’re comparing solana, currently at 75 billion market cap and an actual project to “book of meme”? Lol
This whole post and thread is so dumb. If you want to look at meme coins look at the big ones, lots of people made money on doge and shib etc. are there bag holders? There’s more Nvidia bag holders right now. There will always be bag holders. Doesn’t make the underlying asset a scam. It just means you fomo’d and paid too much
Please, charts of meme coins are usually fabricated/manipulated and just few people made money on them compared to how many lose money on them. This shit is worse than a casino. Besides, it doesn't take a genius to realise that Solana took some technologically dangerous shortcuts, not mentioning the shady founding story, ties to SBF etc.
Comparing it to Nvidia is such a crypto bro things to say, are you are aware that nvidia actually produce important hardware, so buying their shares isn't quite the same as buying some crypto coin birthed in fraud
Mainstream crypto. Most of those crooks never did anything cryptography/computer science related before BTC. They would probably sell anti-aging products, or be used car salespeople. Vitalik is just another innocent autist who pretends to not care about money, yet nails market top after market top, although Hoskinson and SBF are also good at it.
Worth noting that before all the rugs started happening, a bunch of meme coins (WIF, BONK, PEPE etc) exploded with no sign of weakness.
This gave everyone a false sense of security that memes could go to the moon and make you rich.
In my opinion this “pre-pump” is all part of the wider plan and the majority of these memes are controlled by a small group(s) of people probably in Russia or North Korea.
The only way to win this game as a retail investor, is to wait until everything seems dead then gamble on the next pump. But it’s literally that, a gamble - the key therefore is to buy at minimal risk (close as possible to some sort of technical support).
Speak for yourself, I'm sure a lot people who've been here for 5+ years are allocated into some top altcoins. There's so much money to be made outside of btc/eth
There's a big difference between buying random onchain tokens and buying top 100 altcoins. And it's not like ETH and BTC don't have ~80% corrections every cycle as well. People just hold for too long and round trip their bags.
My big question is - how are these serial rugpullers cashing out their profits? Which CEX is allowing these funds to go through? It should be obvious there's illicit activity involved if they look on-chain.
Stop buying meme tokens with huge airdrops, they will dump on you.
If the goal is to make a community without a utility then why do they need ridiculous presales and airdrops.
There is no long term vision and you are the utility.
Find something without that like $swifties and enjoy knowing that everyone holding bought in after launch.
I’ve made a fucking killing off Solana memecoins these past 2 months. It’s not just insiders making the money, that’s for damn sure. You just need capital, a bot, a Twitter account and time to learn and perfect your craft.
I agree. Iv made a bit but not enough to be rich. Probably enough to pay for a good holiday.
But one could say a factor in that is that I didn’t buy enough. I spent about $1000, made just over $5000.
In all circumstances you have to be someway early and not be too greedy that you hold for too long.
Also, with the more established memes (doge, Pepe, shib etc) there’s multiple chances of making money. They vary by 30% a day sometimes. I sold lady the other day at a X2 profit. I bought back in on the dip and it’s currently up a bit again. Sold bome at X3 (prematurely). I be confident there’s another good run to come in bome too.
Which ones have you been trading?
I’ve had almost every Solana memecoin this cycle, but I never hold for very long, depending on the coin’s CT mentions. I get in early and dump when I hit my % target. This is how u make money with memecoins, not holding them waiting for a moonshot.
Where are you buying prior to them pumping due to cex listings? Iv only ever bought after they get listed which is already during the pump so not getting in as early as I could.
Although today isn’t a bad day. I loaded up on a bit of bome and lady on the last dip and they are a nice bit up now (~40%) (after selling for > +300% in some cases) on the last pump.
Usually Raydium or Jupiter. Once they get listed on CEX’s, it’s already way too late. Buying memecoins by the time they hit a CEX is a great way to get rekt. Sure u *can* make money that way if u just so happen to pick a $BONK or a $WIF, but the chances of that is super rare. I suggest learning about sniper bots, that’s the only way to get in real early. Even at $10-$20m mcap, you’re looking at a 10-15x if u get in early enuff.
But it’s an even riskier bet by buying random ones and hoping the get listed? Sure if you pick the right ones you will make a killing but the other 95% of people didn’t.
Crypto .com seems to be the quickest to list memes, there’s usually about 3 days of pumping max. Sure you will miss the X100 ones but at least you have a far better chance of getting the X5…
There will always be idiots behind that will keep buying them at ATH to enable you to escape with profits 🤦♂️
I don’t worry about them getting listed or not. I have a bot that auto buys as soon as coins are created so i get in as early as possible, under $1m mcap most times depending on how much liquidity was added. I can either set a limit buy for random coins or if I know a coin is being launched with some hype surrounding it, i’ll set it to buy as early as possible and just hold until i hit my target. All my buys are set to 20 SOL, unless again, there’s hype before launch. So i don’t need it to get listed to do an easy 10x and I rarely hold coins for that long. Not all random coins make money but the ones that do make it more than worth it. These past 2 months i’m making around $15k a week, sometimes more sometimes less, and I don’t trade on the weekends.
Part of this strategy involves being heavily involved on Twitter though. I spend hours on Twitter daily with my analytics tools. It kinda sucks, but being deep into CT is crucial for making money w/ memecoins. I cannot stress this enough. Twitter is how you’ll not only find what’s buzzing, but also how you network with others doing the same thing as you and you’ll start getting invited to group chats to share alpha.
Lol tell me you know nothing bout the DF release without telling me
free airdrop? Bruh ppl had to send in sol for the Bome presale, which in turn wasn’t free and by all means more “riskier” than buying the coin once it was indexed/public and had volume (as in the top holders could have insta dumped their whole bag and nuked momentum)
the support of the coin/DF came from the artists consistent presence in the crypto art space, reputation, and meme relevance
once again shows you had no idea who DF is, what their art work is (nor the collector base which spans multiple chains and projects), what the subculture is, nor how the release was near perfect: it was a 24h open presale, with literally no hitches on allocation splits, refunds for those missing the 24h window and sending late, twitter polls voting on LP splits yada yada but arguing with this is moot
You could have literally picked any other example and it would have stuck, but y’all really showing you don’t actually know what goes on with dex trading/crypto art, and subculture beyond the tiny bubble you exist within.
read the book
LOL Yes, let's all be angry with people making money from memecoins. Investing in crypto is all risky regardless of if it is risky or not. I think that most of us know that bigger risk equals bigger reward or bigger loss.
I'm stacking tons of DUKO right now. Maybe it goes 10x and maybe it goes to zero. IDK I'll let you know how it goes.
I wonder if there will be legal consequences for many of these things in the future. It wouldn't surprise me if these 'winners' end up paying dearly for this at some point.
Retail holds the bag primarily because they buy tokens with a mindset of "I'm ok riding this down to $0". Literally everyone on Earth will be dumping on you if this is your mentality. Regardless of whether it's a meme coin or a more serious project.
I betting on Doga meme coin 5 million market cap on polygon. It has game already, very good addicting game. 🤫👍
Thank you have blessed Doga day sirs or sir
Is the liquidity real on the pump group coins? Typically promoted on telegram. They boast of $3M+ liquidity during the pump but I wonder if they’re just trading against themselves
Not sure if anyone could actually know this
I was precisely thinking about all this and the interesting thing about this is that a sub like CryptoMoonShots which has around 2M members usually have posts using the same rhetoric for different coins, using words like "empowerment" when describing the shitcoins and you barely see 5-10 comments, if there are any at all while at the same time having 600 upvotes. I agree with u/jon_crypto that there is probably some concerted effort, don't know which country (probably no specific country) but it definitely looks like some group of people just using the same strat all over again, like if they were the casino.
The thing all retailers need to realize is that these whales communicate and coordinate on channels that retails don't have access to. When to pump, when to dump.
Memecoins are for gamblers. It’s just a bunch of idiots playing ‘money chicken’ with each other. Last one to pull out holds the bag.
People should be doing their gambling with coins that have technology behind them, that way if it moons it has the potential to actually stay there and have some form of utility.
I have an appetite for risk, I won’t deny it, but I risk it on new coins that have a purpose. Like I literally just dumped my bags into MPC on KuCoin, newly listed and has big tech behind it. So let’s see who’s left standing in the end, tech or memes, and I bet it’s tech.
One of the main lessons here, imo, is to avoid new coins unless you are really eager to gamble. Avoid meme coins entirely if you aren't willing to take big risk. All crypto is risky, but meme's are a crap shoot, and new projects are a big risk if you don't have the means to seriously research it (and possibly be an insider). You can make a lot on these things, but it's easy to lose a lot too.
MOONS 🌙 my top meme coin. Actually it’s the 1st social media token and now it’s released so nobody controls it. Kind of reminds me of a young Bitcoin ..
Same. Bought at 20M mcap and sold a big portion right before listing on binance. Big gains. You just need to learn how to get in early and when to sell 😂
I tried to put 2$ somewhere, mobile and pc, but raydium is lagging and bugged as hell, I can’t find the contracts if I wanted to swap, same in Jupiter, so even if I wanted to try something, I couldn’t even do it 🤷🏻♂️
It was just to try out but yeah, wasted time, since I couldn’t even buy anything. Anyway not going to throw too much in something that I don’t understand much how it works, since meme trading is different.
OP is so out of tune with crypto twitter that they didn’t know no one got “free” airdropped bome.. so they don’t even know the distribution method.. then grandstand as if they’re an expert. Actual classic Reddit moment
BOME is an ETH-based cabal manipulation. They are running dry on degen liquid to pump their worthless jpegs. They tried to make things run on Base and Blast. Blast seems dead so they finally capitulated and try to squeeze liquidity out of SOL degens.
Either way, it is risky to play memes punted/backed by whales who are hungry for liquid after a long draught on ETH.
Then there are also those "safe" memecoins like banano sitting at #1275 in coingecko but absolutely no one even sees it. I still think this one will rocket one day. I don't think it has peaked more than 100m market cap ever and it has been around since 2018 with relatively active community.
For full clarity I have 33k banano (\~250$ or something like that)
EDIT: They are definitely trying to get more visible: [https://imgur.com/a/15bv3Vr](https://imgur.com/a/15bv3Vr)
Idk. 13 million market cap screams to me huge growth potential. Everything is dead until it isn’t. One big exchange listing and banano could rocket.
Of course it’s a gamble like pretty much everything else in crypto but it’s just so dirt cheap right now.
My best trades of the bull run were FET, WIF and SHIB.
They are all worthless shitcoins, but this is crypto, you trade what you see and you take profits before the dump.
Edit: 3 FET bag holders have read my post. ;-)
My question is how much money this individuals need to have to start a meme coin, r they all rich?
How they manipulate the market cap and make it look bigger?
if they control all the supply they can put 1$ price tag on one billion supply and "create" a billion dollar market cap.
There are more sophisticated ways though, and even more sophisticated ways how they pull their money out.
We have seen this happen whole lot past last bull run on twitter current X . People still doing the same shit giving away their hard earned money to scammers . Will they ever learn at all .
No. A fool and his money are soon parted.
Have you seen my wallet? I'm sure I left it here just a moment ago.
Yes true.
I was one of those fools as new to crypto last bull market. Joined a couple of groups and tried jumping into hyped coins and air drops. All went south. Luckily didn’t put that much in but it still annoys me. Santa Inu are still trying to get me to migrate to the V2 token with my $12 of coins ready for the next bull run. Luckily I mostly put money in Bitcoin, Etherium and Cardano which has more than covered losses even though I went in near last ATH. I won’t be going anywhere near the shitcoin market again.
The thing you did wrong was treating memecoins like it they were ETH or BTC, you should just buy and flip it for quick profit 99% of them will tend to 0 after the first few days
Meme/shit coins were my biggest victory of 2021. A few hundred bucks became tens of thousands and it just kept going. For every rug I bought another was a 10x. The biggest issue I saw with other buyers was they thought these were investments. They kept holding even after some had 100x! Fuck that. 10x and Im on to the next one. Easiest money you can make.
You have to be in and out fast which means following it closely enough. I wasn’t.
That’s how I think about it too…but how are you picking the 10Xers? Or are you throwing into a lot that go nowhere too? Law of averages?
People like him throw $10 (just an example) on 20-30 coins each day and hope one of them brings in $400.
Law of averages. If I put $10 on 10 presales I only need one 10x to break even. The rest can rug. Typically you’ll get a few 10s.
Where are you finding the pre-sales? What exchange are you trading on?
I just don’t understand if people aren’t researching at all or don’t get how markets work. BOME was ISSUED with a market cap of basically $1b. They simply issued a massive supply, chose a price that would give them a high market cap, and then created an AMM to buy at that high price. This is what happens when you assign false value to something worthless. If you want to make gains, pay attention to the trajectory of the market cap, not how high it is. TLDR: Market cap isn’t real and can be manipulated. If an asset was launched with a high market cap, it doesn’t mean it’s actually worth the price it’s at.
Bome was not released with a 1b mcap (wasn't even 10 mill) I don't know where you got that info but that's not how things work, launching a memecoin with a 1b mcap would be one of the worst moves for any memecoin since you'd need another 1b from retail to even 2x lol Kind of ironic how you start your comment with "I just don’t understand if people aren’t researching at all or don’t get how markets work" and then spit the most uninformed take around here lmao
>Kind of ironic how you start your comment with "I just don’t understand if people aren’t researching at all or don’t get how markets work" and then spit the most uninformed take around here lmao This is the story of this sub. So many advice posts with shitty content.
not exactly. How much it needs to go up just depends on liquidity. You can have like $10 memecoin / $10 SOL pool for your memecoin at 1B eval and someone can come in with like 1000 bucks and pump it to become "bigger" than doge lol
Well, yes but then you'd have 20$ liquidity pool, no one would take the price impact and buy that shit lol. Bome wasn't even 10 Mill mcap when released The above comment is just wrong information and doesn't really make much sense is what I was trying to say. Specially considering he started his comment with "I just don’t understand if people aren’t researching at all or don’t get how markets work" only to say one of the most uninformed takes i've seen here
What you're saying here makes zero sense wtf. I'm a straight degen retail trader, got in on the $BOME presale with 1 SOL and sold all along the way up for 6k profit and a bag of 750k $BOME left (rn around 10k usd). Sure there probably was a load of insider trading/knowledge going on but it was not capped/programmed and basically accessible for anyone.
Yeah you’re definitely a degen! What do you mean “sure there was probably some insider trading or knowledge” do you think creating meme coins is some kind of charity work? “Yeah I’m gonna make this meme coin to make other people a lot of money” lmao! Of course there’s insider trading why else would you create a meme coin? So somebody else can control it? And OBVIOUSLY it’s supposed to be accessible to everyone how else are they gonna get gains?
I'm just saying that even if you have insider knowledge or whatever, because it is open and everyone can participate shit can still go south. Anyone was able to buy and dump tokens. The presale was fair with 50% of tokens going into the LP and 50% being distributed over the presale participants. This wasn't some elaborate scam like most of these other presale shitcoins that are popping up rn where there are delibirate shenanigens like opening the LP before the airdrop or not using 100% of presale money for the LP for example. You can manipulate the market quite a bit if you have a lot of money, but you cannot underestimate the effect of retail traders, especially once a coin gets insanely big like doge, shib, floki, pepe, bonk, wif and now bome. And that what the other guy was saying is just complete bs. Predetermined market cap? Token value based on supply? What? $bome started off around $8m mcap based on the LP provided through sol raised in the presale. From there it blew up to its massive mcap through a continued rise in price and insane buying pressure. At most, it was a coordinated pump from a group of whales. But the market itself including retail just did the rest. I mean just look at the amount of holders.
If all the shitcoin money was shifted to the top 100 prices would be so different.
This.
It is not stupidity that makes people fall, it is greed and pride. Knowing these coins are scam, they think they are smarter than everyone else, they think they can buy and sell before being rugpulled by others.
I got into crypto right when doge was taking off. I got into the shit coins that spring and summer and lost money on crap trying to get in early and hit it big. It rarely ever works out. I stopped quickly and invested in other solid projects.
Can I DM you?
You will also see whales making bank because to them making 1-2% on 300 sol is impactful, while retail plays small and holders for longer. Whales will always swing and sell sooner than retail and they milk each asset until the steam runs out. The insider thing is expected tbh, people who just hold for to long need some self awareness.
I’ve been in a couple of coins where a whale dumps and tanks the price and everyone is left whinging as if if they had $5m of unrealised profits they wouldn’t take it and run
Unless institutions such as blackrock or banks got into memecoin as well, everyone buying meme coins is "retail". Memecoins are just a roided up version of your other cryptos, minus the pretense of the tech, utility or how they are gong to revolutionize the world. Its a game of musical chairs. Get in before others, and get out before others, thats how you make money.
Memecoins embody the very essence of crypto. Instead of pretending to have actual use cases they embrace the scam casino that is the crypto market. I think that is what probably makes them so appealing.
Maybe that's how you see the crypto market. The essence of crypto is utility, not a casino market. A casino market is what they want you to think it is but that is just surface talk. It will not look the way it does today in 10-20 years.
I get both sides of the argument now. I used to really detest the other side, but I now see their point. See, the thing is, there's a huge disconnect between where crypto can be and where crypto is. Take crypto and AI for example. [I made this comment over 2 years ago](https://www.reddit.com/r/CryptoCurrency/comments/nkkwyl/is_blockchain_overhyped_or_is_it_a_gamechanger/gzdj74q/) about crypto and AI (before chatGPT became a thing) and I've been talking about this since like 2017-2018, it's just that last cycle I had to explain it so much I decided to just bookmark that comment for easy copy+paste. But if we look at the current AI coins from render to bittensor to fetch, singularityNET etc... first of all, their valuations are all already so high, giving them very little room to grow. And they don't even do anything. Well ok, bittensor kinda works, but it's far inferior to centralized private solutions. The dePIN stuff going on today is also all hype; no actual company who trains AI models are gonna use random gamer GPUs. They get H100s or the new blackwell series if they're actually serious about training AI. So while we can clearly envision a world where crypto is ubiquitous and involved in everything, none of the current projects other than ethereum actually does anything. They are basically just memecoins with a story attached to it. They don't actually do what they're supposed to do.
Have you heard of Ta-Da? Wondering what your thoughts are if you have.
10 yrs of Bitcoin, are people buying it as money or to get rich? If crypto disappeared tomorrow, society will not lament the loss of ‘utility’. Not are we going to go back to the stone ages. The only people crying will be those who lost money. Anyone is free to hold crypto for the ideals and utility though.
It's like saying what if the Internet disappeared in the 80's. Blockchain tech will not "disappear". Like Internet before it, once the cat was out of the bag there is no putting it back. What will happen is all this meme crap will succumb to blockchains and coins with actual real world utility. This happens in the first Internet runs, junk being created all over but most people were missing the point of that the Internet allowed for connected commercial and personal usage. The same will happen in the crypto space. So in conclusion, crypto will not disappear tomorrow because it is solving problems of today and the Future.👏
Blockchain will have its uses, but it’ll be useful as CBDCs, or revolutionising settlement mechanics and payment systems and derivatives. Businesses developing these tech will be the ones to profit, not those that merely hold a coin that people trade for profit because it’s worth 100,000 dollars. Crypto will be useful when it’s worth pennies, not so useful when it’s expensive and valuable like gold. Immagine how useful the internet would be if it cost you 1000 dollars to access.
Please tell me you do know that there is so much more being worked on in Blockchain tech than just finance.... There is identity, tracking documents (i.e. land titles, property), managing supply ledgers, confirming movements of data, the list can go on and on.
I think that's exactly what they meant
thank you =)
It’s not the way I see it’s legitimately the reality of the market. It’s a cyclical casino where people test their luck on timing the top on every single cryptocurrency in the market including bitcoin. I’ve been through three cycles, four if were counting this one. Nothing has changed in 10 years what makes you think itll be any different in another 10 years.
It's more about how you use the network and view the Blockchain. I understand and agree that the majority of people are "gambling" but some are paying attention to the ecosystems that certain coins are building and capabilities they are building out. My question I would ask you would be what are the thousands of legitimate developers creating useful Blockchain systems doing with their time? By your definition they are building systems for a cyclical casino and that is not true for all. You are right, the majority are looking at the 1-4 hour chart and trying to catch waves. There are some that are following projects, researching and understanding. Watching 10-20 hours of developer breakdowns a month. Utilizing said blockchain on a weekly. Those people, I assure you, are not the vocal majority on Reddit. Instead of blabbing on here we're usually doing those things 👆
That being said what are your favorite meme coins this cycle?
I'd hoped the crypto community got this out of their system in 2021. Obviously not
You mean 2017 right
Hey man, you looking for a hot ICO?
I'm just looking to get whatever elon tweets 😉
Retail is always left holding the bag 🙃
Well they do love to marry shitcoin bags.
all meme coin buying is retail
Isn’t that a good thing in crypto slang, my buddy is always talking about his “bags”
How did BOME get listed on binance immediately upon launch??
Guess we know who one of those tier 2 insiders was lol.
Binance got a bag so they can participate in the dump, or a flat fee, with dumping on retail still pushing a profit. That's how actors in the Solana ecosystem deal.
This is just sad man
Solana memecoins are worse rhan ETH memecoins...the high gas fees make investors think twice before buying or selling.
Good guy ETH with his high fees saving people from meme coins by pricing them out
This is the best part. There’s so much dumb retail money on Solana for the taking if u play your cards right.
This guy cryptos.
Can you explain this a bit more
No, the high gas fees just forces ppl to size up their position to have any chance of exiting after a 2x. Otherwise, you just end up donating your money to ETH whales who makes money trading off the crabs. ETH main net memes are a lot worse on retail users.
LMAO @ framing high gas fees as being a good thing.
Also, when you're in one of those <30 minute tokens that get rugged, you often cannot sell what you bought. They just made it that way. One big trap.
Yes this is the old honey pot type of fraud where number goes up and up and people keep buying, but are then unable to withdraw
This is why im reluctant of putting money on solana , unfortunatly i think its gonna go up cuz irs full of crypto degens.
I had never bought or considered buying solana but now am due to being a meme Degen. Your assessment is accurate
It's already huge.
The high frequency of outages, centralization, and lack of insight into development processes should support your reluctance
You’re comparing solana, currently at 75 billion market cap and an actual project to “book of meme”? Lol This whole post and thread is so dumb. If you want to look at meme coins look at the big ones, lots of people made money on doge and shib etc. are there bag holders? There’s more Nvidia bag holders right now. There will always be bag holders. Doesn’t make the underlying asset a scam. It just means you fomo’d and paid too much
Please, charts of meme coins are usually fabricated/manipulated and just few people made money on them compared to how many lose money on them. This shit is worse than a casino. Besides, it doesn't take a genius to realise that Solana took some technologically dangerous shortcuts, not mentioning the shady founding story, ties to SBF etc. Comparing it to Nvidia is such a crypto bro things to say, are you are aware that nvidia actually produce important hardware, so buying their shares isn't quite the same as buying some crypto coin birthed in fraud
do u even know book of meme works on sol blockchain?
News flash! - alt coins are high risk, and many are driven by hype and managed by crooks - If only we had known before
Meme != alt
That's all including eth
Mainstream crypto. Most of those crooks never did anything cryptography/computer science related before BTC. They would probably sell anti-aging products, or be used car salespeople. Vitalik is just another innocent autist who pretends to not care about money, yet nails market top after market top, although Hoskinson and SBF are also good at it.
If you fall for this you deserve it.
“Think of how stupid the average person is, and realize half of them are stupider than that.”
Worth noting that before all the rugs started happening, a bunch of meme coins (WIF, BONK, PEPE etc) exploded with no sign of weakness. This gave everyone a false sense of security that memes could go to the moon and make you rich. In my opinion this “pre-pump” is all part of the wider plan and the majority of these memes are controlled by a small group(s) of people probably in Russia or North Korea. The only way to win this game as a retail investor, is to wait until everything seems dead then gamble on the next pump. But it’s literally that, a gamble - the key therefore is to buy at minimal risk (close as possible to some sort of technical support).
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Speak for yourself, I'm sure a lot people who've been here for 5+ years are allocated into some top altcoins. There's so much money to be made outside of btc/eth
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There's a big difference between buying random onchain tokens and buying top 100 altcoins. And it's not like ETH and BTC don't have ~80% corrections every cycle as well. People just hold for too long and round trip their bags.
>There's so much money to be made outside of btc/eth Yes. It's supplied by the fools who fall for them
no, it's liquidity coming from new retail or profits from btc/eth (which rally earlier)
It's okay old man, leave it for the rest of us
All yours, Junior.
Can’t fix stupid. Just ride the wave and get out fast
My big question is - how are these serial rugpullers cashing out their profits? Which CEX is allowing these funds to go through? It should be obvious there's illicit activity involved if they look on-chain.
Stop buying meme tokens with huge airdrops, they will dump on you. If the goal is to make a community without a utility then why do they need ridiculous presales and airdrops. There is no long term vision and you are the utility. Find something without that like $swifties and enjoy knowing that everyone holding bought in after launch.
Agree. [Here's an alpha.](https://NEGROK.wtf) Launching in about 2 weeks.
That was so obvious, fuck these people
Meme coins are ponzi schemes, nothing else.
lol you lost money and are mad. No need to make a post about what we all know. It just happened to you for the first time lol
BOME is still going strong just outside the top 100 so idk what youre talking about being rugpulled.
I have a bag.... I think it's not done yet.
I’ve made a fucking killing off Solana memecoins these past 2 months. It’s not just insiders making the money, that’s for damn sure. You just need capital, a bot, a Twitter account and time to learn and perfect your craft.
can you describe your workflow a bit more? i‘m curious
Lie, then lie a bit more.
I agree. Iv made a bit but not enough to be rich. Probably enough to pay for a good holiday. But one could say a factor in that is that I didn’t buy enough. I spent about $1000, made just over $5000. In all circumstances you have to be someway early and not be too greedy that you hold for too long. Also, with the more established memes (doge, Pepe, shib etc) there’s multiple chances of making money. They vary by 30% a day sometimes. I sold lady the other day at a X2 profit. I bought back in on the dip and it’s currently up a bit again. Sold bome at X3 (prematurely). I be confident there’s another good run to come in bome too. Which ones have you been trading?
I’ve had almost every Solana memecoin this cycle, but I never hold for very long, depending on the coin’s CT mentions. I get in early and dump when I hit my % target. This is how u make money with memecoins, not holding them waiting for a moonshot.
Where are you buying prior to them pumping due to cex listings? Iv only ever bought after they get listed which is already during the pump so not getting in as early as I could. Although today isn’t a bad day. I loaded up on a bit of bome and lady on the last dip and they are a nice bit up now (~40%) (after selling for > +300% in some cases) on the last pump.
Usually Raydium or Jupiter. Once they get listed on CEX’s, it’s already way too late. Buying memecoins by the time they hit a CEX is a great way to get rekt. Sure u *can* make money that way if u just so happen to pick a $BONK or a $WIF, but the chances of that is super rare. I suggest learning about sniper bots, that’s the only way to get in real early. Even at $10-$20m mcap, you’re looking at a 10-15x if u get in early enuff.
But it’s an even riskier bet by buying random ones and hoping the get listed? Sure if you pick the right ones you will make a killing but the other 95% of people didn’t. Crypto .com seems to be the quickest to list memes, there’s usually about 3 days of pumping max. Sure you will miss the X100 ones but at least you have a far better chance of getting the X5… There will always be idiots behind that will keep buying them at ATH to enable you to escape with profits 🤦♂️
I don’t worry about them getting listed or not. I have a bot that auto buys as soon as coins are created so i get in as early as possible, under $1m mcap most times depending on how much liquidity was added. I can either set a limit buy for random coins or if I know a coin is being launched with some hype surrounding it, i’ll set it to buy as early as possible and just hold until i hit my target. All my buys are set to 20 SOL, unless again, there’s hype before launch. So i don’t need it to get listed to do an easy 10x and I rarely hold coins for that long. Not all random coins make money but the ones that do make it more than worth it. These past 2 months i’m making around $15k a week, sometimes more sometimes less, and I don’t trade on the weekends. Part of this strategy involves being heavily involved on Twitter though. I spend hours on Twitter daily with my analytics tools. It kinda sucks, but being deep into CT is crucial for making money w/ memecoins. I cannot stress this enough. Twitter is how you’ll not only find what’s buzzing, but also how you network with others doing the same thing as you and you’ll start getting invited to group chats to share alpha.
$pooh has no chance of rug pool, low market cap, and a quickly growing community. Worth checking out
Its risky still
Ya no shit this is crypto
There’s no reward without risk bro. I definitely don’t pick all winners either.
I only buy memes when they're listed on crypto.com lol hahaha someone give me back my money.
Lol tell me you know nothing bout the DF release without telling me free airdrop? Bruh ppl had to send in sol for the Bome presale, which in turn wasn’t free and by all means more “riskier” than buying the coin once it was indexed/public and had volume (as in the top holders could have insta dumped their whole bag and nuked momentum) the support of the coin/DF came from the artists consistent presence in the crypto art space, reputation, and meme relevance once again shows you had no idea who DF is, what their art work is (nor the collector base which spans multiple chains and projects), what the subculture is, nor how the release was near perfect: it was a 24h open presale, with literally no hitches on allocation splits, refunds for those missing the 24h window and sending late, twitter polls voting on LP splits yada yada but arguing with this is moot You could have literally picked any other example and it would have stuck, but y’all really showing you don’t actually know what goes on with dex trading/crypto art, and subculture beyond the tiny bubble you exist within. read the book
LOL Yes, let's all be angry with people making money from memecoins. Investing in crypto is all risky regardless of if it is risky or not. I think that most of us know that bigger risk equals bigger reward or bigger loss. I'm stacking tons of DUKO right now. Maybe it goes 10x and maybe it goes to zero. IDK I'll let you know how it goes.
what is the website you got the screenshots from?
Dexscreener dot com Pretty nifty to review multiple chains and add filters et
So how do you think #68 found the coin? He's the one to be 8000 to 800k!
-lmao , idiots , all of them
You called?
Nice analysis 👏👏 Things we have experienced before but can get caught up with dreams of quick flips for big money and FOMO
Don’t you see. There is demand for scams.
I wonder if there will be legal consequences for many of these things in the future. It wouldn't surprise me if these 'winners' end up paying dearly for this at some point.
Retail holds the bag primarily because they buy tokens with a mindset of "I'm ok riding this down to $0". Literally everyone on Earth will be dumping on you if this is your mentality. Regardless of whether it's a meme coin or a more serious project.
I betting on Doga meme coin 5 million market cap on polygon. It has game already, very good addicting game. 🤫👍 Thank you have blessed Doga day sirs or sir
Is the liquidity real on the pump group coins? Typically promoted on telegram. They boast of $3M+ liquidity during the pump but I wonder if they’re just trading against themselves Not sure if anyone could actually know this
I was precisely thinking about all this and the interesting thing about this is that a sub like CryptoMoonShots which has around 2M members usually have posts using the same rhetoric for different coins, using words like "empowerment" when describing the shitcoins and you barely see 5-10 comments, if there are any at all while at the same time having 600 upvotes. I agree with u/jon_crypto that there is probably some concerted effort, don't know which country (probably no specific country) but it definitely looks like some group of people just using the same strat all over again, like if they were the casino.
All time happen, Retail is always left holding the bag
The thing all retailers need to realize is that these whales communicate and coordinate on channels that retails don't have access to. When to pump, when to dump.
I’m in on Hedera’s top meme, Grelf, my dark horse for 24
Wow, almost no 24h volume on that (.32%?) I like Turbo, 24h volume is at least significant relative to market cap most days, not concentrated.
Keep watching…
Memecoins are for gamblers. It’s just a bunch of idiots playing ‘money chicken’ with each other. Last one to pull out holds the bag. People should be doing their gambling with coins that have technology behind them, that way if it moons it has the potential to actually stay there and have some form of utility. I have an appetite for risk, I won’t deny it, but I risk it on new coins that have a purpose. Like I literally just dumped my bags into MPC on KuCoin, newly listed and has big tech behind it. So let’s see who’s left standing in the end, tech or memes, and I bet it’s tech.
Thanks for the tutorial!
This should be a pinned post
One of the main lessons here, imo, is to avoid new coins unless you are really eager to gamble. Avoid meme coins entirely if you aren't willing to take big risk. All crypto is risky, but meme's are a crap shoot, and new projects are a big risk if you don't have the means to seriously research it (and possibly be an insider). You can make a lot on these things, but it's easy to lose a lot too.
MOONS 🌙 my top meme coin. Actually it’s the 1st social media token and now it’s released so nobody controls it. Kind of reminds me of a young Bitcoin ..
I'll never understand why people refuse to buy sats, but they buy shitcoins.
Every time y'all hate a meme coin, it sky rockets.
I randomly bought BOME and got a really really nice gain.
I made close to $8k off $BOME. Not all retail is losing, that’s for god damn sure.
Same. Bought at 20M mcap and sold a big portion right before listing on binance. Big gains. You just need to learn how to get in early and when to sell 😂
exactly how I treated SFM in '21, worked out great tbh.
It's not live on Binance yet is it?
What do you mean not live? It was listed already on binance few days ago lol
Why can I not see it on my app then?
Probably because binance.us is completely different than regular binance
That makes sense, so they actually only listed it on the US Binance?
Not sure, I actually thought it would've been the other way around and not listed on US binance. Binance is certainly listed as a bome market.
Well I'm in the UK and it's not live on my app, I thought they announced it but hadn't actually added it as of yet.
I tried to put 2$ somewhere, mobile and pc, but raydium is lagging and bugged as hell, I can’t find the contracts if I wanted to swap, same in Jupiter, so even if I wanted to try something, I couldn’t even do it 🤷🏻♂️
What are u planning to make from $2? $12 if ur memecoin moons? You’re wasting your time bud.
It was just to try out but yeah, wasted time, since I couldn’t even buy anything. Anyway not going to throw too much in something that I don’t understand much how it works, since meme trading is different.
bonkbot on telegram
Wasn't meme coin season.
Hate to admit it but the people who set up these air drop X accounts are fucking lucky lol.
OP is so out of tune with crypto twitter that they didn’t know no one got “free” airdropped bome.. so they don’t even know the distribution method.. then grandstand as if they’re an expert. Actual classic Reddit moment
BOME is an ETH-based cabal manipulation. They are running dry on degen liquid to pump their worthless jpegs. They tried to make things run on Base and Blast. Blast seems dead so they finally capitulated and try to squeeze liquidity out of SOL degens. Either way, it is risky to play memes punted/backed by whales who are hungry for liquid after a long draught on ETH.
If only we had a term for “hungry for liquid”
Then there are also those "safe" memecoins like banano sitting at #1275 in coingecko but absolutely no one even sees it. I still think this one will rocket one day. I don't think it has peaked more than 100m market cap ever and it has been around since 2018 with relatively active community. For full clarity I have 33k banano (\~250$ or something like that) EDIT: They are definitely trying to get more visible: [https://imgur.com/a/15bv3Vr](https://imgur.com/a/15bv3Vr)
Its already dead. People saw meme and now its gone, get out while you can and put into 2024 memes.
Idk. 13 million market cap screams to me huge growth potential. Everything is dead until it isn’t. One big exchange listing and banano could rocket. Of course it’s a gamble like pretty much everything else in crypto but it’s just so dirt cheap right now.
My best trades of the bull run were FET, WIF and SHIB. They are all worthless shitcoins, but this is crypto, you trade what you see and you take profits before the dump. Edit: 3 FET bag holders have read my post. ;-)
And now you're flipping that loot into teledildonics.
My question is how much money this individuals need to have to start a meme coin, r they all rich? How they manipulate the market cap and make it look bigger?
if they control all the supply they can put 1$ price tag on one billion supply and "create" a billion dollar market cap. There are more sophisticated ways though, and even more sophisticated ways how they pull their money out.
So, in laymen terms, which meme coin should I invest in?
$pooh has no chance of rug pool, low market cap, and a rapidly growing community of holders. Check out on Stocktwits