I try my best to sometimes change my style of trading to focus on token niche sometimes and regroup to look for what works per season.
Memecoins are a form of token and you can further regroup them into BSC, ETH or Solana Tokens based on their build.
If we have been paying attention recently, in the world of meme, Sol memecoins have been surging and in other context, exchange tokens too aren't left out for the scope, surprisingly $68B which is 3.2% of the entire crypto market is held by them. Token insight has given us an insight of the tokens that did well, which $BGB and $MX.
I think grouping tokens based on the niche they belong can answer the question "what coin should I trade at the particular moment in time" as it helps to filter the noise and know where the entire market is focusing on. How do you do yours?
Source;
https://www.google.com/amp/s/tokeninsight.com/en/research/reports/crypto-exchange-report-q2-2024%3foutputType=ampFor me, grouping tokens is much needed when thinking of holding for the long term and simply growing my portfolio. Exchange tokens like $BGB and $MX highlighted in the Coingeck report have showed good potential. With Bitget emerging as the second CEX with the highest increase in trading volume in Q2, it is expected that the platform token $BGB would appreciate over time as the platform consolidates and expands its services. But having a variety of tokens like this in your bag would be a necessary approach to benefiting in any increase in value.
For meme coins, it is largely based on speculations. New ones are emerging daily, thereby making the older ones unpredictable except the teams can be trusted to keep working.
Why would really be needing to choose one if you could really do both things? There are really indeed people or investors/traders who would really be that making up some division into their portfolio on which one is really just that for intended for short term and the other one would really be intended for long term. The profits you are making in short term trades or investment is neither you would really be compotunding into your current capital for having that more bigger capital and potential profits with bigger positions or you would really be rather securing it into those other half which is really that intended for long term? It would really be just that depending on you on which one would fit out into your risks management. You would really be the ones who would really be making up such decision on which one you would really be finding yourself that preferred.
As for coins then it would be with your own discretion since there would really be those people who would really be thinking up about dealing with coins which does have good utility and there are ones who do stick up with
those projects which are really that totally shit but the hype and interest is on the rooftop. We cant really be able to deny that when it comes to possible returns then it would really be always best that you should be dealing up with meme coins but of course the risks involved would really be that high and this is something that you should be mindful on the time that you will really be dealing with it.
Analysis will really vary into each other because we do have different approach when it comes to this matter.