What strategy does the good memecoin traders implement ?

[CPalmer]

Personally, as a trader i’m not big on degen/memecoins trade literally because of high volatility but i’ve always been curious to know the reason some traders stick with trading memecoins no matter the market shift.

 But i found out they prioritize early buys. This led me to analyzing coins on Dexscreener but after sorting through the performance of those coins, honestly it almost same as gambling. Apparently, i found out about Binance Alpha and Bitget onchain, i made sure to join both.

Since, i know buying early is their strategy, i patiently scanned through both platforms, after which i decided to buy one token $DARK few days ago on Onchain after seeing its high volume and rank, although I bought it as a trial, it made it to many top exchanges yesterday which resulted in an impressive ROI.
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 I don’t trade often as i used to due to the market condition, it was then i realized the reason degen traders are not backing down. As a degen trader, which other strategies do you use ?

[TomPluz]

Wow, what an ROI! Something like that can really make a risk-taker a millionaire. Just like you, I am also very curious on strategies implemented by successful memecoin traders...maybe there is something with what they are doing and maybe if we can look at them we can see if they can be effective or just another risky thing akin to gambling. An emerging understanding and which is actually common sense is buying early but you need to know if there is really an interest shown by these early buyers, otherwise you may end up buying early something that will still be useless. And using a Binance infrastructure can help a lot all because it is Binance in the first place. I am also a part of an exchange (doing its airdrop program) which is offering pre-sales of coins and tokens and I think many traders are also there making some money. Yet am still afraid to touch a memecoin...all because am aware of the great risk.

[taufik123]

Personally, as a trader i’m not big on degen/memecoins trade literally because of high volatility but i’ve always been curious to know the reason some traders stick with trading memecoins no matter the market shift.
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In my opinion, why do those who like memecoins still trade even though the memecoin market is not as hyped as before, because they already have an active following and are waiting for the memecoin to be launched.
There are many memecoin hunters who hunt for new memecoins to try their luck.

Just like some Influencers who continue to create memecoins or market the memecoins they follow, there are still buyers who are always active and take advantage of the quick fluctuations on memecoins, they will usually only buy at the beginning and run away with profits, but some people will also become victims because they are unlucky.
There are also developers who just create new memecoins and then get away with selling all their coins.

So there are many opportunities to be leveraged to gather liquidity as there are still some buyers who continue to look for memecoins.

[rby]

Some meme coins are usually pump and dump. What some traders do to get good profits is to take advantage of the hype. Once the hype dies down, the price dumps, leaving latecomers in losses. Those who know how to enter into this kind of market are usually profitable, leaving others who don't understand the market wondering how they do it. I am usually not surprised that there are people who find meme coins profitable.

[CPalmer]

Wow, what an ROI! Something like that can really make a risk-taker a millionaire. Just like you, I am also very curious on strategies implemented by successful memecoin traders...maybe there is something with what they are doing and maybe if we can look at them we can see if they can be effective or just another risky thing akin to gambling. An emerging understanding and which is actually common sense is buying early but you need to know if there is really an interest shown by these early buyers, otherwise you may end up buying early something that will still be useless. And using a Binance infrastructure can help a lot all because it is Binance in the first place. I am also a part of an exchange (doing its airdrop program) which is offering pre-sales of coins and tokens and I think many traders are also there making some money. Yet am still afraid to touch a memecoin...all because am aware of the great risk.

Tbh, I wasn’t expecting that much ROI and i totally agree with you, meme coins are risky and unpredictable which why I’m being very cautious. I will keep taking time to scan and check for another potential one that i can buy early, I’m just glad the Bitgtonchain ranks projects based on how good they might perform, that will also help me with future decisions because the score kinda convinced me to buy it then.