The meme coin season has slowed down a bit, but don't be fooled: meme coins like $PEPE and $DOGE still have their loyal fans and will be in demand. If these assets can grow even in a bear market, during a bull market they might surprise us even more. To help you prepare for possible fluctuations, I've decided to share five important tips.
Tip 1: Keep learning
The world of meme coins is a constantly changing one. After a sharp rise in #Dogecoin , many thought that the trend for meme coins would pass. But then there was a surge in #SHIBAINU and other meme coins even in a bear market. To stay updated on trends and understand how these coins work, it is important to keep learning. Knowledge will help you make informed decisions and manage risks.
Tip 2: Don't be afraid of regulation
Many consider meme coins to be a kind of "wild west" of the crypto industry, and there is some truth to this. These assets are currently unregulated, which increases risks. However, with the gradual implementation of regulations, which may reduce profitability, the crypto market will become safer for investors; "to some extent, regulation is necessary" as it helps reduce risks.
Tip 3: Only risk what you can afford to lose
Don't forget the main rule of investing: only invest in meme coins what you can afford to lose. Meme coins should not make up more than 10% of your portfolio. The risks in this category of coins are too high to bet everything on them.
Tip 4: Do your own research
Researching meme coins is a crucial step before buying. Use tools like #CoinMarketCap Dexscan to check the liquidity and trade history of the coin. Ensure that the meme coin has an active community and regular updates. Avoid tokens that lack real users and project development.
Tip 5: Don't fall for tricks
Some meme coin creators may use tricks to attract newcomers. They might manipulate liquidity, use bots to create an illusion of activity, and add features to smart contracts that allow them to transfer funds to themselves. Study the contract and use tools like Dexscan for verification.
Manage risks and stick to the plan
Even if you have done your research and exercised caution, the final step—risk management—remains up to you. Without a clear plan, many traders have lost their earned funds, unable to handle their emotions. Always follow your plan, manage risks, and remember that in the world of meme coins, a lack of a plan is a direct path to losses.
Meme coins can be tempting, but they require a responsible approach and caution. With these tips, you can trade confidently, preparing for new ups and downs!
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