This wave of memes is strong and overwhelming, surely many people are seasick, especially newcomers. Below I will share some experiences to help you avoid being rugpull and beat memes more effectively.
1. The meme wave will be led by a meme several hundred to a thousand times, followed by countless followers. During the entire meme wave, there will only be 1 or 2 that are close to being the trend leader, so don't try to dream too much. Lead trend projects are projects that have been shaped from the beginning to be lead trends, not by chance, so you will most likely miss it if you are not a professional meme player or have a close relationship with the dev.
2. All projects following the trend behind are quick money, waiting to steal users' money. As I mentioned above, very few projects will follow the leader. If there are, it has been pre-determined from the beginning to continue pushing the trend. Comparing the cap of late projects with the trend leader and then waiting for it to reach is a mistake.
3. The success of projects in the trend will gradually decrease, because users are confused a lot and will not be able to close early. Second, the devs are also getting smarter, with the mentality of stealing the rug sooner, it's a battle of wits between the dev and the user, to see who scams the other first, that's all. So as we get closer to the end of the trend, we have to lower our expectations. This time, I have a bet that I can only enter 20-30 minutes before exiting.
4. For meme projects, there are some listing strategies like this:
(1) Push the entire total supply to the market quietly then suppress the price, then deploy marketing, this type is often called a steath launch. This type of contract is usually clean and beautiful, low tax, renounced, burned LP of all kinds. Usually reserved for rich dev teams and will have a strong pump wave after collecting enough.
(2) Another type of steath launch is a private steath launch, which is also a private launch but has the support of private groups. The purpose is to combine buying power from these groups to create trends on tracking tools. Combined with marketing right at the time of trending to create a fomo effect to sell goods. This style goes away quickly, it's usually the play style of poor devs who operate systematically.
(3) The third type is the type where the dev holds most of the tokens, aggressively markets, and releases the list. This type of rug speed is faster, whether it is collected or not is unknown, but often when the chart is broken, it is difficult to regain trust. very.
(4) The last type that is the most uneducated is rug contract, lock sell, 100% tax, proxy contract,... in general, you can only buy but not sell.
No matter what type it is, the dev will be the one who holds the most tokens and the one who controls the game, so don't worry about running ahead of the dev, rug or being rug 🤡
SO WHAT SHOULD YOU DO TO LIMIT THE RISK WHEN PLAYING MEME?
I know everyone wants x100 x1000 times but that's what kills you.
1. First principle: CAPITAL MANAGEMENT. Determine how much capital is allocated for this season's memes. You can only use it there to play. If you lose it all, don't be foolish enough to add more. Losing everything means you don't have enough skills to play this season, see you next season.
2. Second principle: DIVIDE CAPITAL EVENLY AND VOL EQUALLY. No matter how much capital, you cannot allin, divide the capital into about 10-20 equal parts. Go evenly with all bets, no fomo, no winning or losing.
3. Third principle: X2 ORIGINAL LATCH. Few people can do this when playing memes, but if you're not a meme pro, don't have a private group, or aren't close to the dev, then I recommend doing this to protect yourself. Better to swallow saliva than tears. For every X2 or a little more than 2 to compensate for fees, taxes and slippage, close the original bet and make another bet and increase your profit until you want. Don't underestimate the original number you set, it is also a psychological anchor for you to comfortably go to infinity if you get a good deal.
4. Other principles that I apply:
- Withdraw the portion that was included in the meme season as soon as possible
- Never re-enter a bet that has already taken profit
- No DCA, lost.
- Only snowball once or twice at the beginning of the trend, towards the end you have to reduce your position.
5. In addition to the above principles, skills in research, contract checking, on-chain, social, etc. are mandatory, I will not mention them here. I'll quickly note down some basic contract checks for you to grasp.
• Renounce: Give up ownership, meaning the dev can no longer edit the contract. It must be reounced to 0x00000 to be good, but renounce to another wallet is also redundant.
• Burn/Lock LP: After burning or locking the dev will no longer be able to withdraw that liquidity. Burning is better than locking, but you also have to look at how much it burns, but adding LP for a few bucks and then burning it for sound is not worth it.
• Honeypot: Can only be bought but cannot be sold, so leave it alone.
• Mintable: Developers can mint additional tokens at will, but for some non-fairlaunch projects that have staking, this mintable part is still there.
• Tax: tax, the most beautiful is 0/0 and cannot edit tax.
• Blacklist hoặc Pause transfer: dùng để anti sniper bot mấy giây đầu, dev cũng có thể dùng tính năng này để chặn ko cho ae bán.
I should have written this article a long time ago, but I was partly busy with work and partly busy with this meme wave, so I didn't have time to write.
The above is my experience, it may not be true for everyone but it can help you gain more perspective.
Thank you for reading!
