Meme coin mania is here. It’s great to see, but I know tons of people are losing a lot of money on rugs.
Over the past six months, I’ve immersed myself in the meme coin ecosystem, followed the right influencers on Twitter, joined the right Telegram groups, made a few of my own coins, and have bought over 10,000 coins.
I’ve had some colossal wins like 15,000% (150X). I’ve also been rugged over a thousand times. Here are my top learnings.
Platforms/Trading options
I’ve asked all over Reddit and Twitter about how to trade and have looked for the best trading platforms. But it typically goes like this:
- Fund a wallet with SOL - I use Phantom.
- Find the coin you want to buy and copy the “coin address.”
- To buy, use Jupiter, movement.market, or Telegram to make a swap from SOL to the meme coin.
- To sell, use the same platforms. Enter your CA and swap for SOL.
If you don’t want to go through the hassle of funding a wallet, you can use movement.market to quickly buy and sell coins with an email and credit card. Transactions might not be as fast as a Telegram bot, but it’s easy to use, and you can actually track your portfolio. Raydium is just too slow sometimes. Jupiter is great for established coins.
Strategies
There are three strategies for investing in meme coins:
- Pure Gambling: This involves betting on extremely new coins launched in the last hour. This is where you might see 100x gains in a few days.
- Intelligent Gambling: This strategy focuses on somewhat established coins with a community, price history, and some stability (as stable as a meme coin can be).
- Insider Information: Become friends with influencers and devs of coins so you can get in early. Help them by offering to run their Telegram, make their website, post memes, etc.
Most people go for the first strategy hoping for a 100x. However, most of these coins fail within the first few hours. To win at this, you have to invest in a ton of meme coins hoping one gets big and constantly monitor charts. It’s super time-consuming.
The second strategy, less degenerate gambling, involves investing in more established coins in the 1M-5M market cap range with the potential to explode to 50-100M. This is a more reliable way to make money without constantly monitoring the charts, fearing a sudden drop to zero.
However, investing in all coins within this range isn’t wise either. You need to be selective and screen them based on these criteria:
- Memeable/Funny: Memes need to have comedic appeal to attract attention.
- Community/Content: Check if the dev team has put effort into their website, are active on Twitter, and if people are frequently posting about the coin. A strong community presence is crucial for long-term growth.
- Metas/Virality Potential: Some memes gain popularity due to current events or insider crypto Twitter trends (e.g., influencers, cats, 420 coins). While these are often short-lived, some metas (e.g., political themes like Jeo Boden) can be profitable if you get in early.
- Price: Consider the current market cap and potential for growth based on the devs’ and community’s efforts. If a coin meets your criteria and is significantly undervalued compared to similar coins, it might be a good investment.
- News: Watch the news. Tremp coins go up whenever there’s news about Trump, and new coins are minted all the time.
With this strategy, you’ll see a 10x return, not the 100x that most people hope for, but 10x is still incredible. The advantage is you can invest larger amounts due to lower risks of scams or sudden wipeouts.
The third strategy is the safest but the toughest to break through. You need to find the right people to work with and actually provide value. Select devs and influencers based on this criteria:
- Experience: Make sure the dev has actually built something before. Preferably they’re an engineer who works at a legitimate company.
- Speed: See how fast they operate. Meme coins can die any minute, so they have to be fully committed.
- Trustworthiness: A dev can dump on you (has happened to me), even though you helped him, and ruin all your hard work.
- Humor: Are they funny? After all, these are meme coins. You don’t want to work with someone with a bad sense of humor.
MAJOR TIP - TWEAK YOUR TWITTER: Make sure to prime your Twitter feed. Create a brand new account and only follow the best influencers. Engage with posts that are getting engagement so Twitter shows you more, and follow and like all their content. A better Twitter feed will give you the best results to make the most out of your money.
A few rules you should follow
- Only invest what you can afford to lose.
- Avoid buying coins that are sharply dropping.
- Set a stop loss and LEAVE if you lose that amount.
- Consider the macro market - if Bitcoin or Solana crash, everything crashes.
- Trade on trustworthy sites like Raydium and Jupiter.
- NEVER share your seed phrase with anyone.
- Take profits when you can!
Happy trading!