Due to the recent increase in popularity of memecoins, experts and investors are devising plans for capitalizing on this trend and formulating strategies despite market instability. A memecoin investor publicly disclosed his trading tactics and provided a list of potential memecoins for interested users.
A successful trader named Rekt Fencer, known for amassing fortunes by dealing with memecoins on the Solana platform, shared his trading insights on X (previously Twitter). Having made a small fortune from this year’s trending memecoins and receiving numerous inquiries from the community to reveal his techniques, he outlined eight essential guidelines.
Avoid Memecoin Rotation
Users are advised against frequently shifting funds between tokens due to the inherent risks involved. Although rotating funds can potentially yield profits, it also exposes investors to significant risk as some tokens may experience a sudden decline in value. An illustrative instance is that of BODEN, where several investors sought refuge in other assets that crashed unexpectedly but BODEN continued to perform well and recorded gains within a month.
Additionally, many users find value in employing sniper bots. According to Fencer, these bots don’t shatter sound barriers but instead give traders an edge by acting swiftly. In the fast-moving and volatile world of memecoins, being just 1% ahead of others is crucial, he emphasized.
Insiders and Maintaining Strategy
A fencer advised users to keep an eye on insiders’ moves to potentially earn substantial gains. Insiders often purchase memecoins immediately after they’re released, and these coins have the potential to increase significantly in value, as demonstrated by examples like BOME and MEW which reached new peaks (100x their initial value).
“Discovering their wallets allows me to copy their trading moves and potentially earn 10 to 100 times more tokens. I know it’s challenging to locate their wallets, as they often change them, but believe me, the rewards are worth the effort, particularly for beginners.”
The plea to “do your research” was trading advice with users urged to look at social media presence, telegram activity, tokenomics, and trading volumes. Furthermore, he suggests keeping bets small and planning money a trader can afford to lose on new memecoins while looking for early narratives.
In the end, Fencer recommended that users stay committed to their trading plans, discarding unprofitable trades and continuing to build on successful ones.
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2024-04-12 16:41