I recently observed this with the $FUD memecoin on the SUI network. It surged over 70% upon listing on Bitget and MEXC. Their community was actively promoting it, so I took advantage of a dip and bought some $FUD. I don't typically hold memecoins long-term, so I set a price target and monitor its performance.
I think the main game starts once you understand the strategy and plan. If you really want to make some profit with meme coins, find them on Coingecko and research. Now I'm not advising you all to do the same as me but I'm just sharing what I do when investing in meme coins.
Memecoins are becoming more popular in the crypto space and many people have even find a niche for them, they call themselves Degen traders. Memecoins before usually come as a reward from airdrops and they grow but right now people get positioned on the coins right from the presale stage. Buying early is one of the key factors of trading memecoins so that you can get out early and with enough profit.
Just like it generate large profits, it also bring huge losses when it goes long and this has made me to draw my conclusions that when you trade memecoins you’re gambling.
One thing to take note of when a memecoin is going your way is to Atleast take out your capital even if you want to allow it to run. Leaving or holding memecoins is something that I will never advise anyone to do.