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Most of us are the kind of people in crypto who have watched bonk at 1m marketcap or even low, watched Pepe at low marketcap, WIF under 1 million marketcap and all these memecoins went above $1 billion market cap while we're just watching and sitting on hands.
It is unbelievable missing out opportunities after opportunities in the memecoins because there's a lot of it and it's just difficult to diamond hand when you know it can rug next day or anytime.
Memecoins Supercyle: Attention based bull Cycle
Most people have realised in crypto that holding a VC based Altcoins with high FDV is like becoming exit liquidity
So what happened in this bull cycle is people switched to memecoins and went full degen on the ones that had little or big community
what drive memecoins in this bull cycle is "attention" and that attention is formed by the community.
I was going through Altcoins charts and found this VC coin as an example:
TIA is still 70% down from all time highs and might never reach there like rest of other Altcoins.
But memecoins chart tell something else
Wif is only 40% down from it's previous all time highs and it's showing up strength unlike rest of altcoins.
Also there's plenty of memecoins just like the altcoins but memes are running up over and over again while Altcoins give up after reaching certain price range.
Trying not to miss next big memecoins
This bull cycle these memecoins turned out to be lottery ticket for some people and wished I was amongst them but I didn't held from the beginning
I still remember selling WIF at $0.4 calling it a good 3x at the time when someone bought wif with 5million dollar and it printed a candle to $4
Instead of aping more I sold at that time and moved to another memecoin
The biggest mistake I made not once but twice, sold Wen and bought some other memecoin just before Wen pulled another 10x or more.
Same with Pepe, bonk and other Solana Memecoins.
Lessons I've learnt
Flipping memecoins isn't a good thing for the long term but if you're starting with $20 or something like I did than it make sense to flip one memecoin to another
slowly accumulate and grow the portfolio but don't stop taking risks, should have Go all or Go home mindset when aping memecoins.
It requires attention, keep monitoring it to avoid getting rug but when you don't have time
Simply the best thing is ape into memecoin that you think will go higher in weeks or coming months like WIF and delete the wallet.
My most recent long term meme conviction is "Retardio" because it's famous word on the CT and have huge community.. yet low marketcap 40-50m is nothing
So I bought some and not going to do anything until it's above 500m marketcap or even higher.
Wrapping Up..
After all these months of being a memecoin degen my biggest fear is always ending up as someone else liquidity but deep down I know when I'm taking profit it means someone else is becoming my exit liquidity
There are mostly insiders, KOLs getting rich off memecoins while retailers like us making peanut money or ending up with no money in the end.
So it's nothing more than a casino where you can hit jackpot and this bull cycle is so far one big memecoins casino.
In the end I'd love to know what's your thoughts and if you're investing in memes.. do share your favourite ones in the comments.