Guide: Memecoin Trading

By Bullcoins.info Oct 17, 2023

Intro

No part’s of this article constitute financial investment advice. The post is compiled based on available information and is intended solely for informative and reading purposes. If you are new to trading, and are wondering how exactly to make a profit, then this article is for you. This guide will provide you with an in-depth explanation on how exactly to trade new memecoins.

The “HYPE”

Popularity and hype are important in a coin nowadays, this factor can be the main driving force that makes memes appealing to buyers in this type of investment opportunity. Studies have shown that around 40% of meme-coin investors are “in it” just for the hype.

Is the project you are considering extremely popular on social media like Twitter (Now “X”) , Facebook, Telegram, Instagram or some other type of social communication channel. If yes, this can be a good indicator that the coin or token might be a good investment.

KYE – Know your exchange

Find the best exchanges here. Firstly, if its possible you should be using a popular exchange website that wont take too much fees from your capital. What is KYE or Know your exchange? Simply put, you need know on which exchanges is the currency traded on in order to understand the limitations of the market. Check out similar coins on the exchange where your selected coin is trading, most likely the volume of trading will be somewhat similar.

Spot a quality project

Its important to spot a quality project, not to say that other projects cant be profitable but they can be much less stable. Especially projects that display high levels of copyrights infringements can be very volatile. Example: Spacex/Twitter AI-X Coin which we could recently see leaving thousands of buyers with losses.

The Memecoin is up 600% it’s time to buy ? Nope.

Buying at a time like this most often leads to nothing. When a new memecoin has risen to such a ridiculous high price its not certain that it can remain at peak for long. This might not always be the case, but most of the time it is, the risk will also depend on the trading volume and total market cap. High volume coins with lots of investors are less likely to experience fast and high-percentile losses.

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