Do you want to make money overnight, not have enough money to invest, or miss the Bitcoin opportunity, then don’t worry. Enters into the Solana meme coin world. Currently, the crypto market is continuing to decline, but sooner it will change. The meme coins are the hot spots and low cost for investment. You are not required to invest a large amount of money, but a few hundred is enough to fulfill your dreams.
Large pool coins
These coins reside in the large pool and have the potential to be pulled up very quickly. You must select these coins because they have the greatest chance to skyrocket in a short period. The drawback of these coins is their high market value, and you are required to invest a large amount for these coins. Another key factor you should consider is to invest in multiple of these coins. Following are the same key points you should learn before investing in these coins.
- Always search project background. For example in the case of BOME the founder Darkfarms is a well-known artist so if you invest a large amount of money you are not in danger of rug pull.
- Verify what is the status of the liquidity pool, and if it is locked or burned. The liquidity pool is likely a scam if you do not pay careful attention. Many times, project owners burn tens of millions of liquidity pools and run away.
- Trading volume is the key to determining the market sentiments towards a project. Expert traders often judge the project’s popularity with the trading volume.
- Always check market sentiment towards this project, whether positive or negative.
These coins increase more quickly but always take one wave of the market. The investment logic of meme coins is different from the mainstream currencies. If you have very small funds, do not invest in these coins because, in the end, the final return is not good.
Hot or current events coins
First look at coins like Musk, Trump, or Roaring Kitty. These coins recently gained popularity, when various types of news fly into the crypto world coin prices fluctuate accordingly. Therefore, if you are investing in these coins, tracking news and making corresponding transactions is the most important aspect. Let’s understand how these coins may impact you, the logic is simple, when rumors about Trump’s youngest son Barron Trump’s involvement in the DJT Trump coin is spread the price of this coin hits high. But you have to be careful when people realize the rumors are false the prices of these coins fall immediately so you have to be quick to make decisions.
Animal Community
Numerous cats, dogs, and other animal coins are based on community groups. Many of these coins failed. These coins’ avatars are always eye-catching, but you have to find out does enough enthusiastic community members are actively participating in the promotion. Secondly, verify whether the volume of the token on Twitter has dropped or stagnated because these are the important elements to consider when investing in these coins.
In addition, these meme coins slowly gather consensus among investors and when the market is in bear mode the prices fall more rapidly, so you need to be careful when using these coins.
Celebrity
These coins are the new trend on the Solana chain, but most of the celebrities have no intention to operate tokens for a long time. It is seen that those celebrities are often one-time investors. The tokens have great potential depending on the celebrity traffic. The real intelligence here is to observe for a few days to verify the community circle and effectiveness of celebrity on the coin value. The most popular example of this type of coin is the Mother coin.
Other coins
On the Solana chain, other hot meme coins are born and skyrocket but fall and never increase again. So pay attention to the community, project owners, and other market news that are relevant to these coins. Only target these coins when you have a solid understanding of the complete project, otherwise you will lose your money.
Finally, meme coins have no fundamental value to maintain the bottom price. A more professional way is to select targets with good foundations and watch for a few days. Wait until the coins are picked up and sold when you are expecting a decent profit.
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