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I need your opinion here, how fast can one achieve a millionaire status with meme coin? Asking because, after my analysis of the profit ratio of the likes of Shiba Inu, Pepe, Bonk etc, I am also on the look out for good meme coins to try out. The recent one I found and still considering is Dogwifhat WIF recently listed on Bitget, Raydium and other cex probably or what do you all think? Can we truly become Millionaires with meme coins?
It depends. It can happen in a day. It can also happen in a month or a year, or it might not happen to you as an investor.
The lower the market cap of that meme coin is, the higher the upside therefore the higher the profits that you can get, but that's very risky, and you might lose anything. Can you imagine yourself investing $100,000 or even a million dollars to a meme coin that's relatively new to the market, and has a higher chance of it being abandoned? No, unless you're that rich already, but if you're an average investor, you will not do that.
Getting a million-dollar profit with meme coins isn't impossible, but what are the chances of it happening? What are the chances of you investing into a meme coin that early, and after a few weeks, it pumped up so high? Very low to nearly zero percent, and aside from that, you need to risk it all, and luck must be on your side as well.