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

[hugeblack]

I believe that memecoin is primarily based on fake pumping using misinformation, so DYOR's Do Your Own Research is completely contrary to the philosophy of memecoins. You can simply conduct research to avoid being scammed.

[Axcel777]

I believe that memecoin is primarily based on fake pumping using misinformation, so DYOR's Do Your Own Research is completely contrary to the philosophy of memecoins. You can simply conduct research to avoid being scammed.

Yes, you are right, I have observed a situation where some of the memecoins skyrocket and then plummet within a short span of time. This is so the case because it is relatively founded on popularity and speculation. However this is not the end of the storey as it is possible to explain how a memecoin can be long lived compared to the others. Some cities have large and constantly developing towns, others are up only some time and then are no longer existent. If someone takes this hype as the only criterion and does not look at other factors, then the risk is higher, of course. But still, people attracted to the memecoins also have to be convinced by observing how the project is being run without blindly copying what others are doing.

[LogitechMouse]

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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 ?

NONE!!!

There are no strategies that will work towards a coin that's considered a pump-and-dump meme coin. If you're considering in investing into some meme coins, I would recommend that you should focus on those top meme coins already as they're less risky compared to those new meme coins out there. Yes, you've seen meme coins that are pumping, but after a few hours or even minutes, early investors will dump the tokens into other investors' faces, and those who bought late will hold a bag of worthless tokens in the end. If you don't want to be like them, don't invest on them.

[Aanuoluwatofunmi]

There are many strategies we can use to trade and this can be determined by the research we made and the pattern we feel secured with, from the other aspects, we may not have to necessarily bother much because the coin we are investing also matters a lot, when we go for memecoins, we should know how affordable we can towards the risk involved in making an investment in them, everyone should do his own research and work by what is more profitable to him to do.

[Mr. Magkaisa]

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.

          -       I honestly only like 4 memes that DCA is actually doing, and Shiba inu, Pepe, Bonk, and Floki are among them. Now, if there are other meme coins
that I also see some potential in, they are only a few.

It is still important to be vigilant at all times that we can do it. Especially in this time, recently, there have been a few meme coins that have appeared and made a short-term noise, then in the end, the price suddenly pulled back, which resulted in Fomo among the majority who believed it.

[Rubel007]

There are many strategies we can use to trade and this can be determined by the research we made and the pattern we feel secured with, from the other aspects, we may not have to necessarily bother much because the coin we are investing also matters a lot, when we go for memecoins, we should know how affordable we can towards the risk involved in making an investment in them, everyone should do his own research and work by what is more profitable to him to do.

Although a memecoin can give good returns in the short term, it will never be profitable in the long term. That is why an investor must understand and invest well when investing in memecoin. Just as memecoin projects can give high returns, the investment can also be lost. That is why the investor must pay utmost attention to the risk of the investment. Since these projects are risky, you should not invest more than you can afford to lose.

[BitMaxz]

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

Airdrops are time-consuming I'm ok with the free, but for these memecoins, I don't think it is a good idea to participate in airdrops because it will immediately drop once it listed on any exchanges. I am more comfortable with memecoins that do not have airdrops because the tokens increase once they are listed.  The plan by bayu7adi is fit on this if you are a risk taker if you can't afford to lose then better stay away from memecoins.

[Trongduy]

Although a memecoin can give good returns in the short term, it will never be profitable in the long term. That is why an investor must understand and invest well when investing in memecoin. Just as memecoin projects can give high returns, the investment can also be lost. That is why the investor must pay utmost attention to the risk of the investment. Since these projects are risky, you should not invest more than you can afford to lose.

For me, memecoins are more risk than potential, since they're just for fun, they can't have a clear future. Only DOGE and a few other memecoins might stick around and add some value, the rest are gonna vanish from the market pretty quick.

I'm not planning to invest in memecoins, whether they moon or tank. My capital's just for BTC and the top dogs in the market.

[Amug123]

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.

I totally agree with you, the primary challenge of memecoins are their inherent unpredictability. Without access to insider information  or influence from prominent individuals,  it will be so hard to predict which memecoin will succeed. Even while doing your research it may not be enough to guarantee success in the memecoin market. Speculation and gambling play a very vital role in memecoin investments