I know we are all going for the gains in memecoins, so I currently have these two, which can possibly give me some gains. And $BABYDRAGON is one of the memecoin I'm looking out for most, since it has some momentum and is about to be introduced to platforms like Bitget market, with potential opportunity for an uptrend.
You guys can also give me suggestions on memecoins, like what key factors should I consider before investing in it?
Not all.
I personally am not someone who is interested in investing in meme coins for the long term, because learning from the past, meme coins are more suitable for short terms or just to take profits during the hype, other than that, don't expect much. And meanwhile it requires further analysis beforehand and is like a gamble. I'm not a high risk taker like this. So yes, it's not easy for me to spend time analyzing these meme coins. I don't know, many people do take gains from meme coins, but many people also lose from meme coins. And I'm still not too interested in doing it. Just check CMC, there are lots of meme coins there that you might be able to analyze. Or on social media, whichever is currently being discussed a lot.
I'm also not a fan on the idea about meme coin holding since for so many times I see a lot of scams on this token it leaves an impression to me that all of those token are scam. I don't see any meme coins that satisfy me due to their technology bring(I put exemption on Doge coin) since usually meme coins are just a pump and dump scheme.
Meme coin is really suitable for short term because if a newbie trader would able to decide to hold since they get fooled that there will be a pump will came since they compare it to bitcoin then provably that we can see them lose their money for deciding to do that.
There's a lot of people get some gains on meme coin but those are people know how to deal with these tokens or have a lot of experience on trading. Also if they check on CMC they can see that there really a lot of meme coin but almost all of them got no value since it has been dumped or been rugged pulled by its own dev.