Alright, let's get real here. This would be my first article about a coin not listed on Binance. So, a security warning to my readers and followers: this is DEFI territory, decentralized finance. In line with my commitment to you all, I bring this content following a comment from one of my followers, to analyze a coin called MEW (another one of Solana's #Memecoins ).
You commented, you will have it by LocademiaCripto What does DEFI territory mean? Decentralized finances are navigated with DEX (decentralized) wallets, which use Web3 Wallet connections. Binance is a "CEX" (centralized) platform, however, since the launch of its integrated Web3 wallet, you can connect to the DeFI world through your Binance Web3 wallet. This means accepting terms and conditions that are inconsistent with the culture of Decentralized Finances. I'll address these topics in separate articles to avoid creating a bible of this content.
Now, let's get into it about #MEW , what it is, what it's for, and how do you benefit from it?
What is MEW?
In very clear terms, it's a sh*tcoin, I mean a MemeCoin, sorry to the meme lovers! It's a cat friend of a rat (or mouse?) that's in a world of dogs and comes to save us! Check out the screenshot, it's with Doge, WIF, and Shiba... although there are also some PEPE figures around... the immersed fantasy is very interesting.
What's MEW for?
Mew is a cat in a dog's world out to save the world from other dog coins.
How do you benefit from MEW?
Like most of humanity, to benefit from one of these coins that serve no useful purpose, nor pursue a goal, nor solve a real-life problem, you benefit if you buy it very "cheap" and sell it with a % profit that only you would understand.
At the time of writing this article, if I put in 1 dollar and buy MEW, I would get 153.46 MEW! It's at 0.0065 USDC per MEW... can you imagine how much it could go if it's listed on Binance like #BOME or WIF or Doge or the memecoin of your choice?
How do I buy it with Binance?
On Binance, at the time of publishing this guide, you can't trade MEW, at least not from the platform as we all know it from the "trade" or "convert" options. However, if we go to the DEFI field with the integrated Binance wallet that is only accessed from the Binance app in "pro" mode, from this Binance Web3 wallet... we can buy (or sell) MEW on the Solana network.
Step by step how to view MEW from Binance Web3
Update the Binance app to the latest version.
If you didn't know already, you need to put the Binance app in Pro mode (read my Binance Pro Guide step by step).
Go to Binance Web3 (wallet).
Enable the Solana network.
Click on the SWAP button.
Look for MEW "code" (and the currency you want to trade with).
Make sure both currencies are on the same NETWORK (Solana).
Make the trade (it's optional whether you buy or sell), that's your decision.
What can we expect from MEW's price?
At the time of writing this article, we're like this:
And as you can see in the image above, the MACD is on the right track although the price is crossing resistance zones. We'll have to see how it moves in the future, and if the creator of this MemeCoin decides to give it more publicity, the more people talk about this creation on Solana ( $SOL ) , the more chances there are for demand for this asset to increase and thus its price.
Will this cryptocurrency be listed on Binance?
Impossible to know the future! If I find out about something like this, you'll be the first to find out right here!
Capital and Risk Management
Please remember, don't put 100% of your capital into this coin, make a proper investment management, if you need a hand, you know what to do! I'm here to help.