- 2036
- Posts
- đ¸ 3 (meme)coins we're paying attention to
đ¸ 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 donât have to.
Hereâs what weâre serving up today đ˛: you probably know you should buy bitcoin and Ether by now. But if you want to spice up your portfolio - weâve got something for you.
Letâs dig in.
Youâve probably heard stories of 19-year-old kids in their parentsâ basements making millions trading coins youâve never heard of.
If youâre like most people, itâs hard to wrap your head around it.
Traditional finance people donât get it either.
âbUt It DoEsNât GeNeRaTe aNy CaSh-FlOwâ
I understand.
Weâre 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.
Thatâs one of the reasons Elon Musk flirts with Dogecoin all the time. Itâs a memecoin created in 2 hours worth âź$9 BILLION today.
Itâs also whatâs behind NFTs.
NFTs are just memecoins with pictures. Theyâre 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 whatâs hot đĽ
Rare exceptions like $PEPE and Ordinals aside, memecoins have had a pretty quiet year.
This week, however, as bitcoin hit $35K, memecoins woke up.
Many of them are up 50-100% this week. Thatâs why traders have turned up the dial on memecoins.
Now - we donât endorse memecoin trading for most people.
Theyâre extremely high risk, and youâll likely lose all your money.
But some of you are doing it anyway.
So we thought we might as well share what weâre seeing good traders buyingâŚ
[disclosure: we have no positions in any of the coins mentioned below]
1/ HarryPotterObamaSonic10Inu ($BITCOIN)
I still canât decide if the name is iconic or ridiculous. As with all things memecoins, itâs 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. Itâs as useless of a coin as it comes.
Thatâs why itâs 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 youâre 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.
Itâs 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.
Itâs as high risk as you can get. Youâve been warned.
But traders are going crazy over it.
The contract address for Joe Coin is 0x76e222b07c53d28b89b0bac18602810fc22b49a8.
As a rule of thumb, itâs good to keep altcoins to less than 10% of your overall crypto portfolio.
Remember, a good portfolio is 50% BTC and 50% ETH.
But weâre 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)
donât fall in love with your coins
donât gamble more than you can afford to lose
Weâll trust you to be careful and if youâre interested - we can keep updating you on memecoins:
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