Meme Coin Trading Guide

What is Meme Coin trading?

Memecoins are a genre of high volatility Cryptocurrency that is loosely defined by an dedicated online community supporting the currency's growth. They are often identified with animated characters, animal meme images or trending slogans/phrases. Currencies that have gained memecoin "bluechip" status include Dogecoin, Shiba Inu, BONK, WIF, PEPE, among others.

Why do people do Meme Coin trading and risks?

The returns. You can receive fast and big returns between 5-100x within 24 hours. However, this not 100% guaranteed and is seen as pure ‘gambling’. It is advised to only invest with that you can afford to lose. A coin can easily increase 2x and fall just as fast. You need to be monitoring your investments hourly. If you don’t have time, then maybe this isn’t for you.

What makes a Meme Coin ‘investable’?

Being Meme Coins, you are not investing any use cases or future proof of work. There are many factors that come into play such as the team, name, sticking power of the trend, community, activity, volume, narrative, influencers/KOLs, partnerships and future plans (roadmap for tools/games etc). The more boxes that are ticked the better!

Examples:

Sticking power/trend/community/volume - $PEPE (The meme of the internet with big community backing from web3)

Narrative/team - $COK (First cat coin on solana, deployed by $WIF developer with solid community takeover team)

Team/Roadmap - $BONK (First solana memecoin to $1b mc + building tools like bonkbot etc)

When should I cash out?

This is down to everyone circumstance. However, we tend to cash out our initial investment + 50-100% profit and let the rest stay invested. This way you are already in profit and still have an allocation left in the portfolio.

There may be instances where you might make 5-10x returns, that is a considerable amount & I would cash out everything. There is no shame in cashing out.

Solana & Ethereum Meme Coin Trading

Two of the big players in the meme coin category are Solana and Ethereum. Each network hosts a variety of popular meme coins. This website details the difference https://trustwallet.com/blog/solana-memecoins-vs-ethereum-memecoins. However, due to Ethereum high network fee’s we tend to focus mostly on Solana.

How do I know what Meme Coins to buy?

This is where we come in. Within the ‘Stocks & Crypto Hub’, we have two dedicated channels for Meme Coin plays. ‘Taylor memecoin’ & ‘Community-info’. It is vital you do your own research alongside the calls.

You can also use Twitter and Telegram groups but remember, you need to ensure you do your own research also.

Links:

https://photon-sol.tinyastro.io/@Taylor_NFT & https://t.me/BullxBetaBot?start=access_QHEF0WRMM9 - Trade tokens before they hit mainstream platforms

Useful website to spot scams:

https://gmgn.ai/sol/token/6e6rViDzavLRv56nvZye5UofrKDg36mf6dTQrMCoPTW9?symbol=CHEEKS - Shows devs previous launches. Dev wallet, insiders, etc;

Pump.fun Guide:

https://x.com/Hermes_0x/status/1787962609146163646 - Some bits there, can add/remove what you want. everything else in guide is spot on

How to trade Meme Coins on Solana?

1. Set up a Phantom Wallet: https://phantom.app/ which will be your ‘wallet’ and will be used to purchase the Meme Coins. Remember, we are trading on ‘Solana’. When you set up your wallet, it will give you a ‘recovery key’ which is 12 unique words. Ensure you keep this safe. It is a back up to access your wallet incase you lose the password you set.

2. Make an account on https://dexscreener.com/ which is used to easily monitor the price, trading volume, and on-chain trades of various tokens, and use that data to make informed decisions about your investments.

3. Found a coin you want to invest in? First deposit the Solana into your Phantom Wallet via the wallet. Then copy the Meme Coin address on Dex Screener

4. Once copied, open https://jup.ag/ and connect your Phantom Wallet which you set up in step 1.

5. Paste in the Meme Coin address from Dex Screener into Phantom Wallet and purchase. All purchased coins can be visible in your Phantom Wallet.