A MILLIONAIRE IS...
an individual whose net worth or wealth is equal to or exceeds one million units of currency. Depending on the currency, a certain level of prestige is associated with being a millionaire.
Becoming a millionaire through meme coins is possible, but it's a very high-risk strategy. Here's why:
Meme coins are speculative: Their value relies heavily on internet hype and trends, not on any underlying technology or real-world use case. This makes their prices extremely volatile.
Highly successful cases are rare: Stories of people turning tiny investments into millions with meme coins are outliers, not the norm.
However, if you're still interested, this is for you:
Do your research (DYOR): Understand what meme coins are and the risks involved. Look into the specific meme coin's community, developers, and purpose (if any).
Invest only what you can afford to lose: Meme coin investments are essentially gambles. Only put in what you're okay losing completely.
Consider timing: Ideally, you'd buy early before a surge in popularity. But this is nearly impossible to predict.
Trust the process...it takes time
SOLANA MEME COIN GUIDE
Now let's get into the basics of tools you will need to start trading.
Solana Wallet (Hold Funds)
Screener (Find coins)
Checker (Safety)
Bot (Faster Transactions)
The obvious choice for a wallet on Solana has to be Phantom.
You can create a wallet and add some funds.
Note: Most of the tools will have you create a new wallet that you can import into Phantom.
Dexscreener can be the only screener you use if you are deciding to trade higher cap meme coins and do more swing trades.
Pros:
Great Interface
Clear overview of all stats
Mobile app
Cons:
Chart sometimes updates slower than others
Birdeye will have charts before Dexscreener, allowing you to get a head start on reviewing coins.
Pros:
Early token listings
Clean recent trade chart
Cons:
No 1-second chart
Slower flow of up-to-date information.
BOTS TRADING
There are so many bots you can use for trading. The main benefit will be getting into trades faster than using a normal Dex.
You can trade with Photon Dapp or with Telegram bots like:
bonkbot
shuriken
unibot
About the telegram bots and especially Bonkbot...
You need to do this:
Minimum Position Value (POS Value): Set the minimum position value to show in your portfolio.
Auto Buy: Toggle this off if you prefer not to buy immediately when pasting a token address.
Button Config: Customize your buy and sell buttons according to your preference.
Slippage Config: Adjust your slippage settings for buys and sells
Max Price Impact: Determine how much your buy/sell order will change the market price.
Transaction Priority: Increase your transaction priority to improve speed.
MEV PROTECT: Choose between Turbo for speed or Secure for extra security against frontruns.
