I really don't understand what they are trying to trade here, as OP said he got 50$ profit in just one day, but if unlucky how much will he lose, 100 dollars or 1000 dollars.
Compared to 20% profit, 50% is too small if the risk of loss is up to 100%. If you use that money to invest in bitcoin or top tokens for 3 to 4 years sometimes profit will give you x10, x20 with shallow risk. I'm not entirely against investing in memes, but I don't think it's worth focusing on them, it's more like gambling than investing. If I invest in memes, I will only bet on doge and shiba, at least they have a reputation and are proven by the community.
Compared to 20% profit, 50% is too small if the risk of loss is up to 100%. If you use that money to invest in bitcoin or top tokens for 3 to 4 years sometimes profit will give you x10, x20 with shallow risk. I'm not entirely against investing in memes, but I don't think it's worth focusing on them, it's more like gambling than investing. If I invest in memes, I will only bet on doge and shiba, at least they have a reputation and are proven by the community.
The more you invest into "meme" coins, then higher the risks of loss will be. These type of cryptocurrencies are only driven by hype (meaning they could lose traction quickly if people move on to the next big thing in crypto). I'd choose solid cryptocurrencies with a proven track record of development and innovation, not something that's speculative by design. Bitcoin and Ethereum is all you need to achieve long-term financial prosperity. The rest of the coins are just a gamble.
Among the pack of "meme" coins, I believe only Dogecoin will survive because of its established presence in the crypto/Blockchain space. It's one of the oldest cryptocurrencies with one of the biggest communities in the industry. Price-wise, DOGE hasn't delivered that much, but in terms of stability/reliability, it's better than any other "clone" trading on the market today. Everything's open-sourced and decentralized these days, so I wouldn't be surprised if new "meme" coins come up every once in a while. Just my opinion
