
Please try another search
Investing in meme coins is not a stroll in the park if you want to hit it big and earn good returns on your investment. Meme coins have risen in popularity in recent times, all thanks to Elon Musk and his antics with Dogecoin. It is important to know that most of these coins are scams and are there to defraud unsuspecting people of their money. Therefore, if you want to put your money in meme coins, you need to be very careful and seek out the right information to guide your choice.
Finding a meme coin with 1000× potential is like looking for a needle in a haystack. However, with the right guidance, you can know how and where to look for the rare gem that will hit the moon. The boom in the crypto market in 2021 led to the proliferation of new tokens almost on a daily basis. Most of these new coins vanish within few weeks of their launch, leaving a trail of “bleeding” investors in their wake.
However, the meteoric rise of meme coins like Dogecoin and SafeMoon is evidence that investors can make good money. All you need is the ability to identify the tokens with huge potential early enough. In fact, it is possible to have 1000× on investment in the crypto space but only with good research into meme coins.
How to avoid Rugpulls and minimize riskWhen investing in meme coins, avoiding rugpulls is also as important as identifying the right coin. With my experience in analyzing lots of crypto projects, I can tell the signs of s crypto rugpull. This observation is primarily for coins launched on DEXs like PancakeSwap and Uniswap.
Study the initial token distributionDevelopers of new tokens have the power to distribute the initial token supply the way they want. Most times, you see these dev teams give a huge chunk of the tokens to themselves and, in some cases, to a crypto celebrity. When you see such things, you need to tread with caution. Since these people did not buy in like the rest of the investors, they can dump their holdings at any time. The best option is to go for tokens put up on PancakeSwap or Uniswap for anyone and everyone to buy.
Ensure you know who owns the liquidity poolFor the scam meme coins designed to defraud investors, you see the developers owning the entire liquidity pool. The implication is that these developers can remove the whole pool, including the ETH and BNB, inside the pool. This is a perfect setup for painful rugpull. The majority of the liquidity pool should be held by the burn address designated with something like “oxoooo…”
Investors should also be wary of tokens that have high transaction fees, as this is likely a ploy to discourage people from selling their coins.
The Search for Meme coin with 1000× PotentialWhen investing in meme coins, maximizing the reward should be the utmost goal. Therefore, to achieve this goal, you have to substantially reduce risk by eliminating rugpulls and then identifying the coins with the potential to reach the moon. Things to look out for include:
The mission of the dev teamCreate time to hang out in the token’s community to know what the dev team always talks about. If they talk about long-term focus and community building, then that’s a good sign. You should stay away if they are always talking about pumping the price and pressuring people to buy. Check if they have a whitepaper with a real and actionable vision and mission.
Is the meme coin cute with real potential?The fact is that cute tokens often always win the market share because people love to buy adorable tokens. Those who follow Dogecoin must have learned not to underestimate the potential of a memorable puppy.
Some promising meme coins to considerFollowing the above analysis, here are a few meme coins with good potential to invest in.
Disclaimer: The information contained on this article is provided for educational purposes, and does not constitute investment advice.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.