Solana Meme Coin Gambling !

For the longest time as someone who always values fundamentals, I stayed away from the Memecoins also because the fees on Ethereum were just too high. Recently I kind of flipped a switch now willing to take some small gambles on them...

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Meme Coins As the Modern Lottery

While I have never been a fan of Meme coins, the facts just show that they are systematically outperforming the market (at least some of them by a lot). In the end, it's all about more people buying than selling and with retain entering again who are unable to make considerable gains with Bitcoin, they are bound to create a money flow into altcoins. A Twitter post by Andrew Kang recently pretty much describes the Phenomena accurately...

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Low Fees on Solana

Solana has been exploding with activity lately for the reason that Joe public (and many crypto natives) aren't willing to put up with the ridiculous Ethereum Fees. This creates a Blockchain where it's easy and extremely cheap to swap in and out of different coins. This makes it perfect for those willing to gamble with lower amounts and the dex volume of Jupiter (jup.ag) is close now to Uniswap.

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Meme Coin Basics

Pretty much everyone can create a meme coin and tons are being added each day. The only thing that needs to be done is to put them up along with some SOL in a liquidity pool so they can be traded. At the start the price is very low and the game of 'last to hold the bag' starts there. Buying right at the start gives potential for crazy gains but also contains the most risk and nearly all eventually go to zero. Having a good twitter page, website, telegram and overall promotion for the coin are key factor along with it being just really funny so people are willing to gamble on in an hold which makes the price go up more.

on dexscreener.com, all the pairs and charts can be found along with all the data. Some also get added to coinmaretcap/coingeicko or even get exchange listings.

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The Ones I'm buying...

I'm still very new to this meme coin game and I'm sure that I will make plenty of mistakes along the way. The 2 coins that really had me on the floor are Jeo Boden and Doland Tremp which I would not be surprised will do well during the election season.

TREMP is just over 2 weeks old since it was created, it has a 47M market cap and already is getting listed on exchanges like MEXC

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BODEN is just 12 days old and seems to be winning the race at a 127M Market Cap.

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Most coins however will look like something like this with an initial pump which doesn't take much money and a quick dump followed by a flat dead line all within 24h. This shows that they are extremely risky as only a few really will eventually go somewhere.

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Other meme coins that I'm looking at are $BENJI (the cat of Taylor Swift) anticipating that the early of Swifties might pump it up in case retail really comes in. $WIF which is the dog with a hat which is creating a huge community that raised 700k just to have it advertised on the Vegas Sphere. I'm still figuring out a proper strategy though to make sure I don't get destroyed.

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Conclusion

These meme coins on Solana are extremely risky and they are mostly a game of chicken where skill comes into play to get in the right ones and hold long enough but not too long. I do believe this sector will outperform the market with some coins that will end up crazy winners as the general public is attracted to them and they are really fun. Feel Free to shill me your favorite Memecoin!

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Crypto & Blockchain-Based Bookies and Exchanges that I'm personally using with some allowing anonymous betting with no KYC or personal restrictions...

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Play2Earn Games that I am Playing...

Posted Using InLeo Alpha