GM crypto fam, with the recent bullish trend in the market, i’ve seen traders profiting from Bitcoin futures which is not advisable in my opinion.
Honestly, i find it amazing that memecoins(not all) have been performing exceptionally well. I remember scouting exchanges for early buys before deciding to buy DARK, MUTUMBO and some others on Bitget Onchain based on their ratings few weeks ago. I literally bought them with the expectation of little ROI but their performance was suprising.
But i was pained when i saw those who bought TRENCHER and HOUSE earlier on the Onchain made over 1000%. I got to know about them as they trended through the weekend. I’ve been thinking if anyone made from these two, the most part for me was that i saw them earlier on but overlooked but those who bought them early ate good. I’ve realized early entry is important to make good profit from memecoin trading. Did anyone else aped for these coins?
You are not wrong here, you are actually right, early entry is very vital if you want to be profitable in the meme coin market, but take note that late entry will get you burnt, or buying the wrong asset will get you burnt, so what do you call something like this?
In my own opinion, is more of gambling than investing because even though you enter very early, if it's the wrong asset you will still get burnt, if am wrong please correct me, this is the real fact about meme coin, that's why they are called shit coin, because they live on hypes and speculations, unlike Bitcoin that is a worthy asset that appreciate in value overtime regardless of speculation or news.
Am not a big fan of meme coin, because it's too risk, a bigger majority of them are scam coin, but if you are hell bent on taking risk in it, I would advice that you invest with an amount you are willing to lose, so that if things doesn't goes as planned, you wouldn't be bothered, because it has no significant impact on your finances or your ability to finance your daily expenses.