How do investors identify a promising meme coin at the early stages of its growth and turn pennies into millions? Can anyone explain this professionally and share their knowledge?
The meme has to be popular, and investors can relate to the story; these memes, in their creation, are part of a big story. This is the reason Doge and PEPE are so popular: people have familiarity with these two animals, which becomes memes. You cannot make a meme popular without stories revolving around it.
Shilling is also very important; the more people shilling a meme, the more it becomes attractive to the eyes of the investors. Another thing is the exchange that's backing the meme. If a big exchange backs a meme, there's a possibility of making a big profit investing in this meme.