Memecoins & The Layer 1 Effect
Earlier this year I published numerous articles addressing several Fantom-based memecoins. As I highlighted in many of these articles, memecoins are my primary exposure when it comes to Fantom. Even though Fantom Sonic is yet to go live, Fantom has already been on a bit of a tear, blasting through the $1 level in recent weeks. As a result, we have seen Fantom memecoins pumping hundreds and even thousands of percent.
This is the layer 1 effect and is most prominent within the memecoin sector. The next sector to benefit greatly from the layer 1 effect is the micro-cap sector, which is one of my favorite sectors. Micro-caps tend to offer great risk/reward ratios, provided your investment decisions are backed by research and a keen understanding of the Crypto market. Memecoins, on the other hand, fall into the zero or hero category.
There isn’t much middle ground when it comes to memecoins… you either make bank or get REKT. That’s pretty much how the story goes. However, strategic and calculated memecoin accumulation can be extremely lucrative, especially when a solid thesis backs it. This thinking motivated me to acquire exposure to Fantom memecoins before “Fantom Season”. Fantom Sonic is yet another catalyst that is primed to be the driving force of Fantom Season.
When you consider that before the recent surge in Fantom memecoins, they have, for the most part, gone unnoticed. However, this is exactly the type of opportunity that gets my attention. It has all the ingredients. However, it has yet to be discovered. ANDRE is a Fantom memecoin that falls into this category. It has zero critical issues and boasts 100/100 by Token Sniffer.
Midnight Movements
Sporting the first name of Andre Cronje is always a good move. However, it wasn’t until more recently that ANDRE came to life. There was the initial pump at launch that most memecoins tend to experience… even the ones that go to zero. It was after this initial pump that I entered ANDRE back in December. A fairly lengthy period of sideways chop was instantaneously met by a spike that would excite any investor.
This spike occurred at approximately 2 am one morning, and fortunately, I was able to catch the most of it. ANDRE spiked by approximately 1300% on the day, approximately 2000% up from my entry point. The chart still looks extremely bullish, especially as the launch of Fantom Sonic is just around the corner. As I have mentioned in recent articles, I am using memecoin trading as a way to fund my accumulation endeavors.
I am very much engaged in trading at the moment, as I look to achieve a very specific, and even hefty goal. It’s still early days. However, I need to cover as much ground as I can at these price levels. It is of course a lot easier accumulating altcoins when prices are lower, even if you are utilizing current holdings as a means to trade, and subsequently increase your tokens.
Final Thoughts
I am still expectant of further significant moves within the Fantom memecoin sector. This is especially true of ANDRE. The current market cap is only $171K, which leaves a lot of room for further upside. The abovementioned spike is evidence of what can happen when this particular memecoin garners a little attention. All the best, happy hunting, and I will see you in the next one!
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.