These days we have seen how the share price of #gamestop (GME) had a good performance at #mercado , having a rise for 2 continuous days driven by the return of Roaring Kitty (Keith Gill) . This boost in "meme stocks" was not only seen in the traditional market, but also in the #Criptomonedas market with the #memecoins of the same theme. How did some traders do buying these memecoins during this trend? Let's explore.
When I mention memecoins with the same theme, I am referring to memecoins created parodying certain themes, with zero usefulness and pure speculation. Thus we have the memecoin parodying Gamestop (GME) on the Solana network.
And it is not the only one, there is also the AMC Entertainment Holding (AMC) parody on the #Solana network.
So others and on other networks.
This is where some users take advantage of to join this trend by acquiring memecoins with the same theme as the traditional market. Some find an opportunity to generate profits, just as others find a disappointment.
We have the first case of a user who took advantage of this opportunity, and was able to make a profit.
Just 30 minutes after Roaring Kitty made the first post, a trader (2KP1...) didn't think twice and spent 443 SOL ($65,000 dollars) to buy the memecoin GME on the Solana network. He then sold everything at 2,302 SOL ($336,000 dollars), making a profit of 1,859 SOL ($271,000 dollars).
But you don't always enter at the exact moment and some get carried away by emotion. This is the case of a trader who entered just when memecoin reached its maximum price, generating losses.
This trader (31r9...) spent 3,000 SOL ($450,000 dollars) to buy the memecoin GME at the highest peak of the price, after which the price fell by 40%, so the trader had no choice but to sell everything at 1,450 SOL ($217,000 dollars), generating a loss of 1,550 SOL ($232,000 dollars) in 6 hours.
To buy memecoins, always be careful, since the majority, statistically, go to zero. Of course, there are exceptions such as WIF, PEPE and others, where the community is very strong and more users want to belong to one of these communities. That is why some decide to buy several memecoins and see if one of them manages to rise, to cover their other losses. Just as there are also cases that with a single play at the beginning, they let the price run until they obtain a "good profit". It's practically like a casino game.
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