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  • 🐸 3 (meme)coins we're paying attention to

🐸 3 (meme)coins we're paying attention to

PLUS: Bears give up

GM everyone. This is 2036. We scroll for gems all day so you don’t have to.

Here’s what we’re serving up today 🍲: you probably know you should buy bitcoin and Ether by now. But if you want to spice up your portfolio - we’ve got something for you.

Let’s dig in.

You’ve probably heard stories of 19-year-old kids in their parents’ basements making millions trading coins you’ve never heard of.

If you’re like most people, it’s hard to wrap your head around it.

Traditional finance people don’t get it either.

“bUt It DoEsN’t GeNeRaTe aNy CaSh-FlOw”

I understand.

We’re used to buying assets with utility, like gold, real estate, or stocks with earnings.

But in crypto - all rules are out of the door.

Memecoins have value because they have no utility.

They thrive on culture and community - which sounds like gibberish to most people but is true.

People want to rally around a cause that sticks it to the establishment.

That’s one of the reasons Elon Musk flirts with Dogecoin all the time. It’s a memecoin created in 2 hours worth ∼$9 BILLION today.

It’s also what’s behind NFTs.

NFTs are just memecoins with pictures. They’re cultural icons people rally behind. The biggest icons become worth millions of dollars.

Memecoins (and NFTs) are incredibly volatile.

If crypto is the wild west of finance, memecoins are the wild west of crypto.

Like NFTs, most memecoins are quick pump and dump schemes. Hardly any of them survive an entire cycle.

They thrive on novelty and new narratives - which shift all the time.

Memecoins are the complete opposite of traditional investing.

The smartest investors in crypto - like Arthur Hayes or Pantera Capital - pick crypto assets based on the revenue generated by their underlying protocols.

But memecoin investors speculate on what’s hot 🔥

Rare exceptions like $PEPE and Ordinals aside, memecoins have had a pretty quiet year.

This week, however, as bitcoin hit $35K, memecoins woke up.

Many of them are up 50-100% this week. That’s why traders have turned up the dial on memecoins.

Now - we don’t endorse memecoin trading for most people. 

They’re extremely high risk, and you’ll likely lose all your money.

But some of you are doing it anyway.

So we thought we might as well share what we’re seeing good traders buying…

[disclosure: we have no positions in any of the coins mentioned below]

I still can’t decide if the name is iconic or ridiculous. As with all things memecoins, it’s probably both.

HarryPotterObamaSonic10Inu trades under the ticker $BITCOIN and seemingly trades in line with bitcoin - but on steroids.

Although the community is supposedly planning an NFT marketplace, the coin has no real utility. It’s as useless of a coin as it comes.

That’s why it’s a good memecoin. It did $3M in trading volume in the last 24 hours - pushing it up +16% and over +60% this week.

I encourage you to check out their website here - to get an idea of what memecoins are.

Like most memecoins, you will need a Metamask/Rabby wallet to buy your memecoins on Uniswap (or another decentralized exchange).

Once you’re connected, click Select token and then paste the contract address of $BITCOIN for it to appear: 0x72e4f9F808C49A2a61dE9C5896298920Dc4EEEa9

2/ SPX6900 ($SPX)

SPX6900 is a fundamentally valueless token on the Ethereum blockchain.

Its name is an homage to the SPX - the ticker symbol for the S&P500.

It’s tiny. It has a market cap of just $5 million and is up +17% in the last 24 hours.

To trade it, head to Uniswap and swap ETH for the contract address: 0xe0f63a424a4439cbe457d80e4f4b51ad25b2c56c.

3/ Joe Coin ($JOE)

Joe Coin is another one of those websites you should check out - just to see what modern trading culture looks like.

The coin has no utility, and the creator of the coin has all the power of it. They can change any settings to it - like disabling selling, transferring of the tokens, minting, etc.

It’s as high risk as you can get. You’ve been warned.

But traders are going crazy over it.

The contract address for Joe Coin is 0x76e222b07c53d28b89b0bac18602810fc22b49a8.

As a rule of thumb, it’s good to keep altcoins to less than 10% of your overall crypto portfolio.

Remember, a good portfolio is 50% BTC and 50% ETH.

But we’re also realistic. Most of us like to gamble - even just a little bit. It satisfies some need deep within us.

And better do it with 10% of your portfolio than 100% - which is the classic beginner mistake.

A word of caution: if you do decide to gamble, remember -

  • memecoins mostly do well only when the market is up. When the market is down, memecoins get crushed.

  • take profits when your coin moons (into BTC/ETH/stables/fiat)

  • don’t fall in love with your coins

  • don’t gamble more than you can afford to lose

We’ll trust you to be careful and if you’re interested - we can keep updating you on memecoins:

Do you want us to cover more memecoins?

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