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Retail investors are asking ‘How to make money from meme coins like BOME?’, in this article, deep-dive 5 tips from 99Bitcoin analysts to make money from meme coins.
What’s the common denominator between PEPE, Slothana, and BONK? They are all meme coins.
Meme coins are crypto sensations inspired by the success stories of millionaires. They are minted on bizarre pumps for cryptocurrencies such as Dogecoin, Shiba Inu, and others. Thousands of meme coins are launched every cycle, but only a few succeed in making it big.
$260 to $42k in 48 hours
the greatest casino on earth https://t.co/VGCG6kLf07 pic.twitter.com/YnCco9EBTB
— barkery🍦 (@barkery91) March 5, 2024
And here’s the deal with meme coins: While some have turned mere pennies into fortunes, countless others have left investors penniless holding the bag, this leaves many to allege that meme coin trading or investing is a casino – simply a game of numbers and luck.
However, by early April 2024, CoinMarketCap data showed they are now worth over $65bn, with market appetite insatiable generating an average trading volume north of $6 billion daily.
(CMC DATA)
How to Make Money in Meme Coins – 99Bitcoins Guide:
Only a few have cracked the code and have unlocked the secret to filtering the trash from gems, so if you’re keen on making money from meme coins, these are the five strategies you should consider before diving in:
Tip #1 – Become a Dexscreener Master
If you are new, here’s what you should know: Dexscreener is nothing but a platform. This tool tracks all trading activities posted on decentralized exchanges (DEX markets) like Uniswap and the rest. Think of it as a search engine for DEX markets.
All you have to do is register and make Dexscreener your friend. It is free to use anyway.
Once registered, head over and filter for high-volume newcomers. Set filters to find new tokens launched within the last 2 hours with a minimum trading volume of $15 million.
Those who succeeded with this strategy say patience is key—you might wait weeks for a potential winner.
However, some users have spotted gems like BOME and SLERF early on using this method; securing millions in profits.
Tip #2 – Catch the Green Wave, Not the Crash
Don’t blindly ape in. Confirmation is King. Don’t chase pumps to succeed – they often end in dumps that leave you holding the bag.
Look for a confirmation signal: Veterans of this strategy say waiting for four consecutive 15-minute green candles with increasing volume (millions) is crucial.
Once this prints on launch, it suggests that traders are aping in, which may reward you immensely if you enter.
Tip #3 – Leverage the Power of the Community
Here’s why: You are not alone. Thousands of traders across the globe want to make money.
Don’t be a supplier of liquidity that is, helping them pump their positions even higher. Join meme coin group chats to stay informed and avoid being on the wrong side of the trade.
Many get their trading calls and coordinate entry and exit points in these groups.
However, this approach takes time, and vetting the information is crucial.
Tip #4 – Diversify Portfolio To Ensure Exposure to Established Meme Coins
Here’s why: While meme coins offer the potential for high returns, they’re also incredibly risky.
To stay safe, allocate a small portion of your portfolio for meme coin exploration, typically 1%.
Once done, explore established meme coins with a strong community and liquidity, like MYRO or WIF.
History shows these coins tend to have more “staying power.” Given their higher level of volatility, they can be seen as a leveraged version of traditional trading.
Tip #5 – Scalp Meme Coins
If you are uncomfortable with trading, you can use sniper bots or scalp. However, this strategy requires a strong understanding of technical analysis and potentially involves paid tools—most sniper bots are premium.
Assuming you go with this route, don’t be greedy. Aim for realistic profits (think 30%) by scalping short-term price movements.
A warning though: Losses are part of the game – so, always protect your capital with healthy risk management strategies.
The Bottom Line: Meme Coin Trading Isn’t For The Faint-Hearted
(Slothana)
While the allure of massive returns draws endless retail investor interest in meme coin trading, the risks involved, and the mystery of the market leave many out of pocket on swing trades, scalps, and micro-cap apes.
For this reason, smart money investors are increasingly shifting their attention to meme coin presales for more reliable returns thanks to the early-bird advantage.
One such emerging play is Slothana – a lovable sloth character who wants to quit his job and overcome his addiction to become a successful crypto asset. The coin aims for a $420 million market cap.
In the ongoing presale, Slothana has raised $6 million (and the number keeps rising), highlighting the ongoing demand for Solana meme coins.
What keeps Slothana interesting is its fair presale model. For every 1 SOL invested, 10,000 SLOTH is distributed to the presale participants. Interestingly, the platform aims to capitalize on the upcoming Bitcoin halving event.
At the same time, the team backed by the developers of the highly successful SMOG has investors racing to position themselves for imminent gains. Analysts are confident once Bitcoin halves, prices will likely race higher, pumping SLOTH, even by 100X.
EXPLORE: Ether vs. Bitcoin: Death Cross Looms, A Warning for Altcoin Traders
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
