What’s your best DYOR strategy as a memecoin trader ?

[CryptoBun]

Though, I’m not into memecoins but lately i’ve come to notice the big players are interested in them it’s either they randomly post about their interest in a project or they launch a coin out of the blue. There’s been speculations about them trying to divert the crypto community ‘s attention to memecoins.

From Elon to Trump and CZ, earlier this week CZ mentioned a coin , which went over the roof few hours after it was launched. After the hype around it died down another coin, FULLSEND skyrocketed again this week, meme traders have been raking in profits lately. I might consider investing in some memes later in the year. As a meme trader what are your best DYOR strategies in spotting a potential coin ?

[bettercrypto]

According to this link https://www.coingecko.com/en/coins/fullsend-community-coin it's still pretty fresh right now, so I'm pretty sure it'll still fall, plus its marketcap is still a bit lower than my criteria for it to be considered potential.

In short, it's still quite volatile when investing here, so invest at your own risk here, if anyone invests it should still be the amount they can afford to lose. So it's still like a punch to the moon in my opinion.

[TomPluz]

I can understand why you are asking what can be the best strategy for us to make good profits from memecoins since I am also thinking of maybe joining the craze and have a taste of that x10, x100, x1000 ROI which is not anymore available in the normal cryptocurrency market. Maybe I need some memecoins to jolt my spirit...but I am always afraid too since I know that most of the memecoins introduced anytime will just die on the road. The problem is that there is no surefire way to know which of the many memecoins available will explode...not unless you are a close friend of Elon or CZ and you are briefed ahead of what the guy will mention on his X posts. No amount of DYOR can help us if we don't know how to predict what can be a week or a month from now or we don't have access to many influential people. But then we can speculate, take a guess and then gamble...who knows we can really be millionaires here.

[CryptoBun]

I can understand why you are asking what can be the best strategy for us to make good profits from memecoins since I am also thinking of maybe joining the craze and have a taste of that x10, x100, x1000 ROI which is not anymore available in the normal cryptocurrency market. Maybe I need some memecoins to jolt my spirit...but I am always afraid too since I know that most of the memecoins introduced anytime will just die on the road. The problem is that there is no surefire way to know which of the many memecoins available will explode...not unless you are a close friend of Elon or CZ and you are briefed ahead of what the guy will mention on his X posts. No amount of DYOR can help us if we don't know how to predict what can be a week or a month from now or we don't have access to many influential people. But then we can speculate, take a guess and then gamble...who knows we can really be millionaires here.

Exactly! I agree with you…personally, the reason i trade altcoins and not memecoins is because the potential ones are unpredictable but lately the market has been unstable. Trading memecoins once in a while won’t be bad at all.

[SavvyTon]

In short, it's still quite volatile when investing here, so invest at your own risk here, if anyone invests it should still be the amount they can afford to lose. So it's still like a punch to the moon in my opinion.

I’m certain it has potential and i don’t think it will fall anytime soon, its marketcap right now according to the link you shared is over $40M and we might see it rise to over $80 million, what’s the marketcap criteria you determine potential projects with ?

Personally, if a project reaches the $20M mark, it definitely something to watch out for. I even found out earlier, its already on Bitget Seed, that made me invested in JELLYJELLY which made me lot of profits. These coins are often unpredictable, that’s why DYOR before investing in any of them.

[albon]

If you apply thorough analysis, it can be a lot of fun and even profitable. However, they are highly volatile assets where there is always a risk of pulling a rug. My recommendation is that you combine these guidelines with knowledge of technical and on chain analysis to reduce risk. But analyze to invest in meme coin and research lot of there telegram / discord is there real activity or just hype and bots! The saying don't invest more than you are willing to lose is more effective when you think about meme coin investing.

[JoyMarsha]

There is no better to succeed in memecoins than getting into it in its early stage and learning to withdraw your profits early. Don't be too greedy.

Many investors will successfully make thousands of dollars with little money, just because they find out about a memecoin at its early. They hesitate to take their profits immediately when there are huge profits.

The mistake many investors make about investing in memecoins is rushing to invest in them because of FOMO, not studying them to be short term profits.

[albon]

The mistake many investors make about investing in memecoins is rushing to invest in them because of FOMO, not studying them to be short term profits.

As currently the time is meme coin hype so many meme coin are entering the market but many people are losing by investing without understanding. Whenever you buy meme coin outside of fomo the amount of loss will increase. When a meme coin goes down then it takes years to pump again, even many meme coin die after the coin goes down.

[Mr. Magkaisa]

         -      There are other meme coin traders who prefer to use dex platforms, particularly under sol network, and pahantom wallets are good to use. Because with Dex it is easier to do day trading and get profit.

Though, it is a bit volatile, so it is only recommended for those who have knowledge or ideas about trading in the crypto space, it is not suitable for newbies
who attempt to trade on dex or cex platforms.

[Axcel777]

         -      There are other meme coin traders who prefer to use dex platforms, particularly under sol network, and pahantom wallets are good to use. Because with Dex it is easier to do day trading and get profit.

Though, it is a bit volatile, so it is only recommended for those who have knowledge or ideas about trading in the crypto space, it is not suitable for newbies
who attempt to trade on dex or cex platforms.

That’s why Doge does have the plus of having a rather large community and being related to Elon for couple of years. If he is keen on taking the use of crypto into his project, definitely it would be wise to take a coin that has already been accepted in the market rather than creating one from the scratch. But there is a question: what is more, Doge can progress technically to be used on a larger scale. Currently, Doge remains as a memecoin but if there are changes or improvements that will further enhance its usability then may its position be even more powerful in the years to come.

[Yamane_Keto]

memecoin is more about trading than  trading strategies, I check the news when it is listed and try to make some profits with stop loss order.

[Aanuoluwatofunmi]

Does any strategy really works for me, when it comes to using a particular investment strategy on memecoins, because they have their own risk they bear without even considering the use of any suitable strategy on them, there's nothing bad in us making some level of research before investing on any, because this will also go along with the conviction we may have towards investing or not in a particular memecoin.

[bayu7adi]

meme traders have been raking in profits lately. I might consider investing in some memes later in the year. As a meme trader what are your best DYOR strategies in spotting a potential coin ?

Do you realize that there was only one meme coin that skyrocketed out of thousands of memecoins that existed at that time..so, not all memecoin traders actually made a profit... there were only 1% of traders who really profited from the skyrocketing price of the memecoin... everyone saw it as interesting, but it was actually a trap... because being part of the 1% is not easy...

The safe thing I did was, buy memecoin in small amounts then make a sell order with a profit of between 10% to 20%.. yes, the profit is indeed small, but considering that memecoin is a coin with a very fast momentum, there's nothing wrong if we make it safer by making a sell order from the start.

[bitterguy28]

The safe thing I did was, buy memecoin in small amounts then make a sell order with a profit of between 10% to 20%.. yes, the profit is indeed small, but considering that memecoin is a coin with a very fast momentum, there's nothing wrong if we make it safer by making a sell order from the start.

the safest way here actually is to just get some tokens from airdrops so you get it for free this way even if the profit is small you can still basically say that you got it for free and who would not want free money right? it is good enough for a side gig and money is always money so if you can just participate in their airdrops and get the perfect time where you would sell it for profit

[Mr. Magkaisa]

Though, I’m not into memecoins but lately i’ve come to notice the big players are interested in them it’s either they randomly post about their interest in a project or they launch a coin out of the blue. There’s been speculations about them trying to divert the crypto community ‘s attention to memecoins.

From Elon to Trump and CZ, earlier this week CZ mentioned a coin , which went over the roof few hours after it was launched. After the hype around it died down another coin, FULLSEND skyrocketed again this week, meme traders have been raking in profits lately. I might consider investing in some memes later in the year. As a meme trader what are your best DYOR strategies in spotting a potential coin ?

         -       If what you want is a short-term trader in meme coins, I think you should just imitate what other meme coin hunters do who often hang out on pumpfun, moonshot, and other platforms whose content is only meme coins listed. .

Check the dex platforms like Dexscreener, geckoterminal and others, there for sure you will find something that is only short-term and you can get a quick profit though also a quick loss if you make the wrong choice because most of those also end up in a rug pull, so be careful of course.