Following the bullishness of the market, we’ve seen Bitcoin and altcoins moving uptrend without showing any signs of slowing down. Memecoins particularly have been gaining momentum, this made me put more attention on them.
Considering, lot of memecoins enter the market daily, i made some research on how i can filter out the potential ones and so far buying coins on ChainX has made me good returns. The cex has an ongoing New signup 150K usdt prize...anyone can participate..
The fact it gives degen traders access to the potential and high value coins early has been a game changer for me. what's your thought on entry strategy
It make you profitable if you spot a good project since for sure you will have a good chance to sell early at best possible price that you can see in the market.
But this is not always the case since we don't know if the project would be added or have a good price if they get listed on the exchange. Also sometimes the dev would just vanish away or they are the one dumped their tokens and project first that's why their investors lose their money due to rug pulls happening.
This is the reason why investing on shitcoin is so risky due to those matters happening on the scene.
Rugpulls is very common into this market and if you arent that careful on making up some investment and just that rushing out on making up some investment just because you had been FOMO.
On the time that you do able to enter with a cheaper price then you would definitely be making tons of profits at the time that it would be making up some pump, but the question is that would it be able to make it through? Knowing that most of those tokens dies after launched because there would be tons of jeets that they would be dumping up their investment on just having 10-20% gains and ending up with those investors who bought on the peak ending up on bagholding those shitcoins.
If it turned out to be profitable for OP then its ideal that he should be keeping on doing the same approach or actions because not all are that profitable when dealing up with memecoins.
It is just that very hard to predict whether they would be getting that enough traction or hype or definitely dies down after.