Increasing The Odds
Choosing to invest in projects within a particular blockchain ecosystem is very much like using leverage without the risk of liquidation. As I mentioned in yesterday’s article, harnessing Solana’s rise by investing in BONK realized a peak unrealized profit of approximately 50X. Regardless of how much capital is involved, 5000% will have an impact in any scenario.
Compare this to Solana’s return of approximately 300% and you begin to realize just how effective the layer 1 effect is. However, you have to choose the right projects. These are typically quality micro-caps within the ecosystem or memecoins. When it comes to Fantom, I am mostly interested in DEXs and memecoins. I don’t have time to begin hunting for additional opportunities, as I am already immersed in research and other market-related activities.
On the bright side, my recent fascination with memecoins has worked in my favor. Over the weekend, I managed to uncover a couple of Fantom-based memecoins. The first one was CEKKE, which I managed to scoop up on the day of the all-time low, shortly after it launched. If I remember correctly, it was three or four days after it was listed. After making this move on Sunday, CEKKE pumped by almost 300% on the day. However, it retraced sharply over the next two days.
I chose to take advantage of the opportunity at hand and increased my position. The market quickly rewarded my decision, as CEKKE managed to pump by almost 400% today!
The market cap of this particular memecoin is still below a million dollars, and the real Fantom move is still on the way. Chains like Avalanche and Cardano recently rallied by a few hundred percent. I expect Fantom to eventually follow suit. A strong surge for FTM is likely to create a tidal wave for memecoins like CEKKE and others.
Another Potential Gem
Blue Kirby is only a few days old and I was somewhat disappointed to see that it rallied by approximately 400% yesterday. However, in a similar pattern to CEKKE, KIRBY also had a massive retracement overnight. I caught the initial collapse at 3 am and then managed to enter a little lower later this morning. Hopefully, a similar pump to CEKKE’s is on the way in the next few days. However, my time horizon is a lot longer, as I am waiting on a significant move from Fantom first.
Essentially, I am positioning myself well before the move. The fact that my decision has been rewarded so early on is just a bonus. The arrow in the graph below points to where I managed to enter my KIRBY position.
Fortunately, I have managed to catch both of these memecoins shortly after launching, ultimately, putting me in a very strong position going forward. This is how I managed to see 5000% with BONK, I discovered it ages before anyone was talking about it. The same is true of Taraxa. True alpha occurs via a single principle or action… early entry.
If you find a quality project or a meme destined for greatness before the majority, you are in the pound seats. This only takes place as a result of research, or by reading my gem picks, and then conducting your own due diligence. Another Fantom project I am interested in is Equalizer, a relatively new DEX. EQUAL is up over 900% in weeks and still has an extremely modest market cap of $1.3 million. If you joined me with Raydium on Solana, this one might interest you.
Raydium has performed well alongside Solana. However, its market cap is significantly larger. This could offer up some serious gains over the next two years. Much more of a long-term term play than memecoins. I will most likely rebalance memecoin gains into EQUAL. The DEX itself is very slick and easy to navigate. Investors can also provide DEX liquidity, ultimately earning even more EQUAL. It all comes down to personal preference.
Final Thoughts
This is my “formative” strategic approach for harnessing Fantom’s inevitable and eventual surge. It’s still very early on, so, I expect to modify this over time. The current gains are however definitely a blessing. Anyway, see you in the next one, and keep hustling!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.