What initially attracted me to the crypto space was the wealth stories surrounding Bitcoin and the annual lamentations of Pizza Day.
Once, I was a firm holder of mainstream coins, only trading on Binance and OKEx, thinking that coins bought on these platforms were reliable. Although I'm not a full-time trader, I like to keep an eye on trends. By chance, I made some money on $Bome and $Pandora, believing I was a genius trader.
But as time passed, the situation changed.
Every time Bitcoin rises, my holdings—$G, $Alt, $PIXEL, $Stark, $WLD, $TIA, $Ordi, etc.—barely increase; however, whenever Bitcoin drops, these coins follow suit and plummet.
When Bitcoin broke through 70,000, I was stunned. It was clearly a bull market, and I was nearly 70% trapped.
Once upon a time, I believed that buying good coins on good platforms could lead to wealth, but now that belief has collapsed. What happened to the wealth effect? What happened to value investing? What happened to top-tier projects?
Every drop and rise feels like these coins are trapped in an endless cycle, deeply stuck with no improvement.
In the end, I concluded that playing spot on Binance wouldn't make me rich.
The journey to break even starts with self-rescue in memes.
So, I began looking for ways to break even. As the second half of the year started, meme trends became more popular, so I shifted my focus to the meme sector. Originally, I had bought 50,000 USD worth of spot on Binance, but was trapped at about 70%, with only about 30% left, roughly valued at 15,000 USD. I staked these tokens for loans and borrowed 5000 USD to start trading memes.
At the beginning of August, I started looking for opportunities on Twitter and TG, participating in a dozen projects. Since I'm not full-time in web3, I can't watch the market for long periods. Most of the meme projects I bought either performed poorly or I missed the best entry and exit timing, resulting in a loss of over 700 USD by the end of the month (since I was just testing the waters initially, my investment wasn't large). At this point, I almost wanted to give up, but I happened to see on Twitter that LBank was focusing on the meme track recently, so I looked at the previous meme coins launched on LBank and found their performance quite good, so I planned to try some.
On August 30th, I made my first trade on LBank. I saw that today they launched Bruh, researched its Twitter popularity and style, and felt it had a good meme style, so I invested 200 USD. After observing, I found the trading volume and popularity were average, so I cautiously liquidated my position for a profit.
On September 1st, I bought Ebull, with average trading volume and popularity, also liquidating at a 20% profit.
A few days later, there were no new meme coins. On September 5th, Vista launched, and I researched it, feeling it was a hotspot, similar to Pandora, so I decisively entered with 1000 USD. But not long after, negative news came out, and I quickly liquidated my position.
Then there was a few more days of waiting. On September 10th, Dogegov went live. I checked Twitter and found that its original name was D.O.G.E, with high follower count and popularity. I directly bought in with 1000 USD and held for a few days without much increase, then I liquidated my position.
Next, several meme coins such as MAO, DEV, and CATALORIAN went live. MAO is a local dog on the BSC chain, and I had little interest. DEV and CATALORIAN had average popularity, and there wasn't much buzz on Twitter, so I didn't take action.
On September 18th, MOODENG launched, and I did my usual research, discovering that this IP had over a billion views on TikTok, so I decisively invested 2000 USD. The popularity then skyrocketed, and I held it until the end of the month, achieving a 1328% return. Of course, I made some other moves in between:
September ended like this, with profits reaching 4210 USD. Reflecting on the half-year coin trading process, I haven't made this much profit in a long time, and I regained the feeling of making money when I first entered the crypto space.
Focusing on new coin dynamics, becoming a sniper in the secondary market.
In October, I paid more attention to LBank's new coin dynamics because during holidays like the first week of November, there are usually significant hotspots that emerge. So, during the holidays, I continuously monitored LBank's coin listings and acted accordingly.
On October 12th, something big happened. This day was just like usual, LBank launched GOATSEUS. I checked related content on Twitter and found I completely didn't understand it, but the buzz was exceptionally high. My intuition told me that the less I understood something, the more opportunity there was, so I decisively invested 5000 USD.
Sure enough, GOATSEUS took off next, skyrocketing over 100 times in two weeks, my profit reached 8,788.00%, turning 5000 USD into over 400,000 USD.
Chasing hotspots to gain more opportunities from secondary markets.
Looking back at my experience trading on Binance, turning 50,000 USD into 15,000 USD; then moving to LBank, where 5000 USD turned into nearly 500,000 USD, I found that the wealth effect on Binance is decreasing. Most projects see Binance as the ultimate goal, which limits its potential. But a coin that clearly shows its ceiling has no profit space. However, coins on secondary markets like LBank might just be starting, with infinite possibilities ahead. Buying on LBank and selling on Binance seems like a good strategy to me.
Attached are my main principles for selecting memes.
1. I don't play local people's games;
2. Clone market cap can only reach 20%-30% of the original project;
3. The less I’ve seen, the more I should invest;
4. Be bold in making large investments;
5. I noticed the popularity was declining and decisively switched positions;
6. Always have a speculative angle; without an angle, you won’t make money;
In intense PVP combat, being ahead is the key factor for victory.
