How to make 100x off Memecoins step-by-step

Summary

This video script details the high-risk, high-reward world of meme coins in the cryptocurrency market. The speaker, a blockchain developer, shares personal experiences and strategies for identifying potentially lucrative meme coins, emphasizing the importance of early investment, risk spreading, building a project thesis, and planning exits. Tools like Dex screener and community engagement indicators are highlighted for due diligence. The script serves as both an educational guide and a cautionary tale, reminding viewers of the volatile nature of meme coins and the need for a well-thought-out investment approach.

Takeaways

• 🚀 Investing in cryptocurrency, especially meme coins, can potentially yield massive returns, but it's also highly speculative and risky.
• 📈 The speaker emphasizes the importance of getting into meme coins early for the best chance at high returns, highlighting examples of coins that increased significantly in value shortly after launch.
• 💡 Meme coins are considered a 'hot' sector in the crypto market, with some individuals making substantial profits from them, despite the overall high risk involved.
• 🛠 The speaker is a blockchain developer and shares personal experiences and strategies for investing in meme coins, stressing that this information is not financial advice.
• 🔍 To find meme coins with high potential, one should use tools like Dex screener and connect to decentralized exchanges to identify new and trending coins.
• 🌐 The activity of meme coins is primarily happening on blockchains like Solana, Ethereum, and Ethereum's layer 2 blockchains, with a tendency for rotation between different chains.
• 📱 Setting up a wallet like Metamask or Phantom is crucial for trading on decentralized exchanges and participating in the meme coin trend.
• 📉 The speaker warns about the prevalence of scams and 'rug pulls' in the meme coin space, advising the use of security checkers and community research to mitigate risks.
• 🎯 Spreading risk across multiple meme coin investments is recommended, treating each investment like a lottery ticket with the potential for high rewards or losses.
• 📝 Building a thesis for each meme coin investment involves understanding the community, team, and potential for attention and price momentum that could drive the coin's value.
• ⏰ Planning an exit strategy is essential, with the speaker suggesting setting price targets based on market cap milestones to determine when to sell and secure profits.

Q & A

What is the potential profit from investing in a cryptocurrency that goes up 100x?

If you invest $100 in a cryptocurrency that increases 100 times in value, your profit would be $9,900, resulting in a total of $10,000. If you invest $1,000, the profit would be $99,000, totaling $100,000.

What is the current hot sector in the cryptocurrency market mentioned in the script?

Meme coins are the current hot sector in the cryptocurrency market, with the potential to create millionaires overnight.

How much profit did the trader mentioned in the script make with an initial investment of $510?

The trader made a profit of $83,490 with an initial investment of $510, which is over a 150x return.

What is the speaker's profession and how does it relate to the topic of the video?

The speaker is a blockchain developer who works with this technology daily. This profession gives him insight into the crypto space and the ability to provide advice on investing in meme coins.

What is the importance of being early when investing in meme coins?

Being early in investing in meme coins is critical for making significant returns because the most substantial gains are often made by buying into new projects within days or hours of their launch.

What are some tools recommended in the script for finding new meme coin projects?

Dex Screener, Dex Tools, and Bird Eye are recommended tools for finding new meme coin projects. They allow you to filter by blockchain, look at newly launched coins, and track trending coins.

Why is it recommended to use decentralized exchanges when investing in meme coins?

Decentralized exchanges are recommended because most of the meme coin activity is happening on-chain, and centralized exchanges often list coins after they've already gained significant value.

What are the three major blockchains mentioned in the script for meme coin activity?

The three major blockchains mentioned for meme coin activity are Solana, Ethereum, and the Ethereum layer 2 base blockchain.

What does the speaker suggest as a strategy to avoid losing money in potential scams or rug pulls?

To avoid losing money in scams or rug pulls, the speaker suggests using security checkers like Rug Check .xyz, searching contract addresses on Twitter, and joining Telegram or Discord groups to gauge the legitimacy of a project.

How does the speaker recommend spreading risk when investing in meme coins?

The speaker recommends spreading risk by allocating a certain amount of capital and investing equal amounts into multiple new projects that show potential, treating each investment as a lottery ticket with the possibility of high returns or complete loss.

What is the significance of having a thesis when investing in meme coins?

Having a thesis is significant because it provides a rationale for why a meme coin might be successful. It includes considering factors like community support, team behind the project, and potential for price momentum, which can influence the coin's future value.

How does the speaker suggest determining exit points for meme coin investments?

The speaker suggests setting price targets or exit numbers based on market cap milestones such as $10 million, $50 million, $100 million, $1 billion, and $10 billion. These targets should be part of the investment thesis and are based on the coin's potential to achieve and maintain these valuations.