Meme coins are not easy to invest in if you want high returns and a great investment. Meme coins are gaining popularity due to Elon Musk and Dogecoin’s antics. It is important to realize that many of these coins can be scammed and used to defraud innocent people. If you are looking to invest your money in meme coins, be sure to do your research and get the right information.
A meme coin with 1000x potential can be like trying to find a needle in the haystack. But with the right guidance you can find the rare gem that will take you to the moon. A boom in the cryptocurrency market in 2021 saw the emergence of new tokens almost daily. The majority of these coins disappear within a few weeks after their launch, leaving a trail for “bleeding” investors.
The meteoric rise in popularity and use of meme currencies like Dogecoin, SafeMoon, and other tokens is proof that investors can make a lot of money. It takes only the ability to recognize tokens with great potential early enough. You can actually make 1000x investment in the crypto space if you do your research about meme coins.
How to Avoid Rugpulls and Minimize Risk
Avoiding rugpulls in investing in meme coins is as important as identifying and investing the right coin. I know how to identify a crypto rugpull based on my experience with many different crypto projects. This is primarily true for coins launched on DEXs like PancakeSwap, Uniswap.
Learn about the initial token distribution
Developers of new tokens are able to distribute initial token supply as they choose. These teams will often distribute large quantities of tokens to themselves or to celebrities in crypto. These are not the best things to do. They can always sell their holdings as they were not bought in by the rest of investors. It is best to look for tokens that can be bought on PancakeSwap, Uniswap, or any other platform that allows anyone to buy.
Make sure you know who is responsible for the liquidity pool
You can see that the developers control the entire liquidity pool in the scam me coins. These developers are able to take the entire pool, including the ETH, and BNB inside the pool. This is an ideal setup for painful rugpull. The majority of liquidity should be held by the burn addresses that are marked with something like “oxoooo …”
Investors should also be wary about tokens that charge high transaction fees. This is likely an attempt to discourage people from buying their coins.
The Search for Meme coin has a 1000x potential
Maximizing the rewards should be your ultimate goal when investing with meme coins. This means that you need to significantly reduce risk by eliminating rugpulls. Then, identify the coins with the highest chance of reaching the moon. Here are some things to watch out for:
The mission statement of the dev team
Make time to spend some time in the token community to hear what the developers are up to. They should talk about community building and long-term goals. Avoid those who talk constantly about pushing the price up and urging people to buy. Make sure they have a whitepaper that has a concrete and actionable vision.
Is the meme coin cute, with real potential?
It is a fact that cute tokens are often the best because people love to purchase adorable tokens. Dogecoin users must have realized the value of a well-behaved puppy.
There are many promising meme coins that you should consider
These are some meme currencies that you can invest in based on the above analysis.
- BabyDoge – A deflationary me coin that is made to be rare with time. It is adorable, but also contains a lot BITE!
- MiniDoge is the first hyper-deflationary and auto-boost coin on the crypto market
- CorgiCoin, one of those coins that only the community owns. PancakeSwap secures all tokens, and the keys are melted.
- CateCoin, a special cryptocurrency that is used to pay meme creators in CateCoin upon submitting their memes to the platform.
1000X is not a possible goal for everyone, but it does offer a lot of potential risks. From the team members to tokenomics, you need to fully understand the project. Also, you need to find out where their revenue streams are. You should also be aware of where they are listed. Some exchanges have a higher reputation and are safer than others. Always do your research. Anndy Lian is Chairman of BigONE Asia and Chief digital advisor for Mongolian Productivity Organisation.