I just got into memecoins trading last week, lost all my capital in a day. I was only $100 lol, I’m so broke. I watched some videos, learned some stuff, and was so confident, but I got rugged like 10 times. At first, I wasn’t checking the contract to see if it’s safe; freeze authority stuff took like $30 or more, I don’t know. The second time, I wasn’t paying attention to the unburned LP. I thought the only danger was the freeze authority. Guess what? The dev pulled the liquidity, and I got rugged and lost more than $40. The rest was holding too much and hoping it would 100x, loool. Today I put in another $30, made some really bad trades, got in early hoping again for it to pump and just make 2x or 1.5x. I guess you know what happened next. I tried the pump.fun on photon stuff and lost half my money on fees. It was like 0.01, and I didn’t even notice until it was too late.
Moral of the story to newbies: don’t be that guy
But I’m still not giving up! I will go back again, and now I’m aiming to get in on the second waves. Let’s hope I can buy my dad some land for his dream farm.
Yeah, that happens buddy. At least you gained experience now. My advice is to drop the pump.fun and start your research with cryptogugu. That should help you avoid pure scams.
Lior said:
Yeah, that happens buddy. At least you gained experience now. My advice is to drop the pump.fun and start your research with cryptogugu. That should help you avoid pure scams.
Corin said:
Those profiting 100k+, 10k+, 1k+ are basically making it from people like you. Not everybody wins.
Not everyone. Just start a group with people on Telegram, and keep it like a ‘20 club.’ When you have 20 people talking and looking for good coins, watching markets, chatting, etc., you eventually find good coins. If you’re doing it alone, you’re losing.
A lot of people are saying don’t bother with memecoins, you’d have better luck at a casino, etc. I’m going to give you some advice. It sounds like you’re randomly throwing very small amounts of money at various new pairs with little to no DD and hoping one of them takes off. If that is indeed what you’re doing, then yeah, you have better odds hitting a casino and playing roulette. My advice is that there are ways to make highly educated guesses about what might actually be a good buy rather than just randomly stabbing $10 worth of SOL at new pairs. I’m not going to explain to you exactly how to do this (there are multiple ways), that’s for you to figure out by yourself. If you don’t figure out how to make your method less random, you will only lose money. Once you find a strategy of raising your hit rate that works for you, you will make money. A second piece of advice is that market conditions have shifted a bit in the last few months. Major memecoins of this cycle are, for the most part, already decided. Pumpfun tokens launch by the truckload every day, most of them not going anywhere. But that doesn’t mean there isn’t money to be made. The fact is that something will go from 100k MC to 10m MC relatively frequently—and boom, there’s your first 100x to start you off. You should be looking to catch one of those to get the ball rolling since you have low capital. From there, continue to make educated buys, and when you have a decent amount of capital, you can rotate in and out of bigger, more established tokens for smaller multiples. I hope this helps. Good luck.
@Tanner
People said Pepe was this cycle Shiba in last Q1-Q2. Then the last Q3-Q4 was all Bonk. Then this year’s Q1-Q2, it was just this random WIF popping up from nowhere. The only thing is decided is that degens have no loyalty and rotate to whatever.
