How to invest in meme coins for profits
Most people took notice of the great opportunities in meme coins when Dogecoin managed to 100X in value in a matter of a few weeks 2021. However not many were aware that another meme coin QUACK pulled off the same feat later the same year. Several meme coins managed to 20X, 50X, 100X or more but they all pale in comparison to Shiba Inu.
Shib did a 460000X crazy but true. If you put as little as $3 in the absolute bottom it was enough to make you into a millionaire.
Crypto investors who took notice of this explosive development and price
appreciation are naturally looking for other possible opportunities to make
money in meme coins. How can you find another meme coin that could replicate at
least part of the success of Shiba Inu?
How to
understand the Business of Meme coins
To understand how a meme coin can be successful
we need to start with the purpose of the meme coin. Why is it there? Why do
people invest in it? It would also be a little prudent with a critical mind
towards the expert that only cover meme coins after they have reached the top
and started their decline. Do they really know anything useful? It is easy to
know what to do in hindsight, however money is made in real time.
The primary purpose of a meme coin is to create tangible financial rewards for
its holders. People invest in them due to dreams, hopes and desires of good
money. And life changing money is still possible in meme coins if you find the
right ones.
The right meme coin could be fun, likable, different, adorable, exciting, even
slightly bizarre, but it must become popular to attract the masses. It needs
the right kind of psychology behind it to get a set of holders behind it, the
larger the better.
If you want to strike it rich with meme coins you will need the same focus,
patience and commitment as in any other endeavor. You will need to research a
lot of coins and it would probably be wise to diversify among the potential
winners.
There are some elements to look out for, elements that could signal a future
hype.
Factors that count are: community, partnerships and technology features.
Are their any NFTs or a play to earn game associated with the token of choice?
Is the project multi chain?
Are there possibilities with passive income from staking or reflections?
How does the road map look and does the white paper contain compelling
arguments?
When you have your own answers to these questions you probably have a few
favorite tokens you can start allocating money to. To cast a wider net and be
sure to find the next winners there are other strategies to allocate money to
increase the chance of finding the meme coin winners while at the same time
getting a monthly income from your crypto investments.
Building
your Meme coin Portfolio
You want to end up with an analysis that gives you the optimal meme coin
portfolio - containing the absolutely best coins for future success.
Now analyzing is one thing and investing is another. Analyzing is risk free.
Investing requires putting money on the table. That means putting the money
into something appreciate and believe in. No amount of research can eliminate
all risks. However there are ways to decrease risk and increase the chances of
success in your favor.
Besides navigating crypto cycles and educating yourself about your investments
you can choose meme coins reflecting other meme coins. This gives you a certain
passive income and it gives your crypto portfolio diversification. It is a
great way to decrease risk and arguably you would also find the best meme coin
winners among the reflection tokens. Simply because more and more investors
would see the benefits from getting monthly crypto income through reflections.
Hedging your bets with passive income in Meme coins
Backache giving reflections in $CAKE was the original reflection token. Since
then Captee, Awkward Turtle BSC and Shalon has arrived giving reflections in
Kiba, Marshall Inu and Doge respectively. Boba Innu is another Dogecoin
reflections token. Three of these tokens are based on Binnacle Smart Chain. The
fourth Captee is multichain and also has an Ethereum contract.
These are a few reflections meme coins that stand out against the rest and
could prove to be good investments. The advantage of the meme coins mentioned
above is the passive income from the reflections. This advantage serves to
reduce the risks but it also increases the likelihood of more investors coming
into the coin. Reflections then is a way to gain traction, popularity and
serves as a compelling argument for a meme coin in its own right.
For instance if Shalon that is marketed as a meme coin ion for women were to
attract 15% of Dogecoin holders with its passive income from Doge it would
become a massive success. It is unclear if Shalon will be able to garner the
attention of the Dogecoin community. No success is ever guaranteed. However
Shalon is certainly one of the potential moonshots that could attract both
female and male crypto investors.
For those who believe in the Duck Era of crypto tokens like Rich Quack,
Poor Quack and Scrooge coin should be considered.
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