how to buy meme coins: A Guide to Memecoins: The Risk and Reward of $PEPE, Dogecoin, and More

how to buy meme coins

Beware if the coin’s background is not clear and it is difficult to find information. A whitepaper without a clear ecosystem or whitepaper that is not well-written can be a red flag. Pitbull rewards investors with an auto-staking system, which ensures passive yield and pays token holders fees for transactions in PIT. Another incentive to hold Pitbull is that 2% of each transaction is distributed to all holders. Floki University refers to an educational resource that will be created to overcome the crypto education gap while creating awareness for the FLOKI token. The team behind ELON sent half the token supply to Vitalik Buterin, who donated approximately 43% of ELON tokens to the Methuselah Foundation.

In this article, we’ll show you the tools you can use to identify new meme coins, analyze their on-chain activity, and evaluate their community. This approach will provide you with a lot of valuable information that will give you a better chance of picking winners. The open-source, decentralized meme project operates on a peer-to-peer (P2P) network. One crucial aspect to consider before investing in a meme coin is to verify that the token has a strong culture. It is important to note that in the world of meme coins, having a strong community is the key to success. The meme must be something that people can relate to and find amusing, with a strong underlying aspect that resonates with investors.

There’s dozens of new meme cryptos entering the crypto market every day and it can be hard to navigate the market if you dont know where to begin. Hopefully, we have given you some useful tips on how to find the next meme coin to explode. The tools we have featured in this article can be used to evaluate any cryptocurrency, and not just meme coins.

That crypto wallet can be hosted either by the cryptocurrency exchange or an independent wallet provider. As these memecoins continue to evolve, it will be interesting to observe their impact on the broader cryptocurrency market. Fortunately, the process of buying them is mostly the same from coin to coin. The contract for the token was deployed by an anonymous user and originally gained popularity through posts on its official Twitter.

And like any other cryptocurrency, they can be bought and sold on various crypto exchanges. It’s no secret that investing in meme coins can be an enjoyable and thrilling experience, with the possibility of hitting it big. However, it’s crucial to remember that the crypto market is just like a casino – unpredictable and volatile. In light of this, it’s wise to approach your investments with caution and treat them like gambling. This means investing only what you can afford to lose and not overallocating your funds. To put it simply, if you wouldn’t be comfortable betting a particular amount on a spin of the roulette table at a casino, then you shouldn’t be investing that much in meme coins either.

We may also receive payment if you click on certain links posted on our site. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. As you’re comparing different platforms, it’s wise to consider things like supported cryptocurrencies, security features, fees, storage and withdrawal options, and educational resources.

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By keeping an eye on the top gainer’s section and focusing on tokens showing promising signs of growth, you can give yourself an edge when it comes to investing in meme coins. In this case, the L1s such as Ethereum and exchanges can be compared to the house. As we all know, the house always wins; It’s a similar story with L1s, which often take a cut from transactions and have their own tokens to sell. This is exemplified by the recent increase in $ETH burn, which is directly linked to the increased on-chain activity. The more people use the network, the more $ETH gets burnt, and the more money ends up in the pockets of the L1s.

  • A simple strategy to avoid roundtripping profits is to take out your initial investment after you’ve doubled your money.
  • But, without a purchasing strategy, how do you go about actually executing the trade and reaping those sweet, sweet profits?
  • In order to effectively invest in meme coins, it’s crucial to keep tabs on the market and closely monitor which coins are performing well.
  • This is a good way of getting a quick overview of what’s happening in the meme coin markets and how the top meme coins are performing.
  • One of the most effective ways to do this is to use resources like DEX Tools, which provide real-time data on top gainers and losers in the meme coin market.

You should know that you will be dealing with a more volatile class of cryptocurrencies if you are looking to diversify your mem coin portfolio beyond Dogecoin or Shiba Inu. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website. Compare today’s price of Meme ($60.29 USD) against its all-time high (ATH) price of $6,998.03 on May 13, 2023. The closer the bar is to 100%, the closer MEME is to reaching its ATH again.

This method can help you avoid the risky move of going all-in blindly, without a plan. Instead, it allows you to make informed decisions based on the market’s movements. We also have a page dedicated to meme coins, where you can find the meme coins listed on CoinCodex. This is a good way of getting a quick overview of what’s happening in the meme coin markets and how the top meme coins are performing.

Learn to track activity on the blockchain

With NFT sales volume steadily declining since January 2023, memecoins — such as $PEPE, $DOGE, and $TURBO — have emerged as the center of attention in the crypto space. is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.

  • Unlike traditional cryptocurrencies, however, meme coins often serve no real purpose other than to be enjoyed and shared among the online community.
  • Another big advantage of using online brokers is that investors can trade and speculate on the value of the assets as it moves in both directions.
  • You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
  • Some experts advise that the best approach to invest in the leader can be a good strategy to adopt because it provides some stability and predictability in the volatile meme coin market.
  • Their prices are highly volatile due to social media sentiments, “FOMO” (fear of missing out), and other factors.
  • Sam Bankman-Fried, owner of FTX crypto exchange and a famous Solana supporter, and Anatoly Yakovenko, Solana’s co-founder, launched Samoyed Coin in 2021.

Dune Analytics is a platform that allows users to query on-chain data and display it visually with a variety of chart types. You can access various dashboards on Dune Analytics that track on-chain activity related to meme coins. Depending on the dashboard, this data can be quite complex, but it can give you an edge over other market participants that aren’t paying attention to the details. Practically all popular memes now have a meme coin equivalent that’s looking to capitalize on the meme coin mania.

How to buy Meme (MEME)

By doing this, you’ll be able to clearly divide your trading systems and avoid the emotional toll that comes with mixing your funds. It’s important to remember that investing in meme coins comes with its fair share of risks, so it’s essential to be prepared for the worst-case scenario. This means being willing to lose all the capital present in your new wallet. Keeping your meme coin funds in a separate on-chain wallet is a smart move that will help you stay organized, focused, and in control of your investments. The world of meme coins is constantly evolving, and as more of these quirky digital currencies gain popularity, creators are coming up with increasingly creative uses for them. For example, there are now meme tokens designed specifically for use in video games, for donations to charities, and even for buying and selling goods in online marketplaces.

This is especially true for meme coins, which may have an unlimited supply. For instance, Dogecoin has a circulating supply of 132 billion DOGE, and 10,000 new DOGES are created every minute as a reward for miners. If so, then you should know that you will be dealing with a more volatile class of cryptocurrencies. Since Dogecoin became an international meme coin, thanks to the power of the internet (and Elon Musk), many others have started to appear. Most meme coins revolve around popular dog breeds such as the Japanese Shiba Inu. This has prompted a number of copycats, including Dogecoin derivatives Shiba Inu, Dogelon Mars, and Samoyedcoin.

However, if you want to speculate on the meme coins’ price movements, you can use an online broker that offers crypto CFDs. The main goal of the SAMO meme coin is to bring new Solana users in, educate market participants and create personal connections. Samoyed coin is the public face of meme coins on Solana and has been a rising meme star in 2021. One reason for the recent popularity of memecoins is the rise of social media and internet culture.

how to buy meme coins

Another important aspect to research is the tokenomics, or the underlying economic structure of the token. Is there a dilution of tokens planned in the future, or are there mechanisms in place to burn tokens and maintain a stable supply? Understanding these details can help you assess the potential long-term viability of the project. Many projects try to artificially boost their online presence through bots, which inflate their engagement metrics such as likes and comments. In addition, they may be paying influencers to promote the cryptocurrency to their followers.

How to Buy Meme Coins (Before They 100x) – Your Ultimate Guide

However, Unlike Roulette, where the odds are set in stone, meme coin investing is a much more dynamic and fluid process. By staying up to date on the latest news and trends in the market, you can identify opportunities that others might miss. Additionally, doing your due diligence and carefully researching a particular coin before investing can help you make more informed decisions and potentially tip the odds in your favour. This means looking beyond the hype and sentiment and examining factors like the coin’s use case, development team, and community. Getting familiar with Dune Analytics is very valuable for all crypto investors, and not just those interested in meme coins.

how to buy meme coins

While leverage enables you to spread your capital further, it is important to keep in mind that your profit or loss will still be calculated on the full size of your position. Then, if you don’t already have some, buy Ethereum or transfer it through another exchange to your wallet. After you have the amount you want to swap in ETH, open and connect your wallet.

Claim your BTCC 10 USDT Bonus
Receive a welcome bonus when you sign up for BTCC crypto trading platform. In our undervalued cryptos section, you’ll be able to find cryptocurrencies that are potentially undervalued based on their technical indicators, primarily RSI (Relative Strength Index). CFD trading is leveraged, which means you can gain exposure to a large position without having to commit the full cost at the outset. Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano.

Meme coins are some of the most popular crypto assets, and even popular public figures have backed these cryptocurrencies. There are many options available, but it can be difficult to find the best meme coins to invest in, especially if you’re new to this space. While the unit price of these meme coins is not very high, they have become mainstream. Here’s everything you need to know about meme coins, the top meme coins, and how to invest in meme cryptocurrencies.

The smaller coins often benefit when there is a rotation of liquidity within the sector, but ultimately profits tend to flow back into the leader. This is why investing in the leader often presents a better risk-to-reward opportunity for investors seeking to capitalize on the growth potential of meme coins. To figure out whether a token has strong backing on social fronts, there are various methods you can use. One is to track social metrics on platforms such as Lunar Crush, which can provide valuable insights into a token’s performance. Additionally, you can check whether the token is being discussed on social media platforms such as Twitter, Telegram, Discord, and other online communities.

These are all factors to consider when evaluating the team behind a meme coin. However, with so many different coins out there, it can be overwhelming to try and identify which ones have the most potential. Luckily, there are some techniques you can use to increase your chances of finding the next big thing in meme coins. DEXTools is a platform that makes it easy to monitor what’s happening on decentralized cryptocurrency exchanges.

Etherscan is the most popular Ethereum block explorer in the world, and for good reason. It provides a truly comprehensive overview of all the activity on the Ethereum blockchain, and can provide extremely useful information when used correctly. Use Etherscan to check the activity of the token’s biggest holders or wallets belonging to the project’s team. If they are selling, it’s probably not the best idea to buy the meme coin you’re analyzing. When compared to cryptocurrency exchanges, traders might find brokers to be more useful for trading. That’s because online brokers offer cryptocurrencies in addition to their selection of stocks, ETFs, options, bonds, and mutual funds.

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