I’ve been messing with memes, forgive me Bitcoin Jesus 😂. Seriously though, it is a lot of fun 🤩 and thrill but I do it responsively. It’s also a good way to kill some time while the other “old” and “boring” aka established crypto do their thing. But one must be careful not to get carried away and distracted by the memes.
For me, memes are a good way to test out chains like Solana and Base, chains that I wouldn’t normally touch. And one has to realize these memes were made by design to attract new users to the chain. It all started from the ETH playbook back in 2017-2018. But the only problem was, the little guy or the low risk tolerant couldn’t participate because of the fees.
I believe, One must not invest in memes, you just see it as a fun game you are playing with money you can afford to lose… and if you are lucky or formulate a strategy, you can win the game.
I had a very interesting encounter with a meme that caught my eye recently, the name of the meme coin is Doge Marley, ticker $Marley. It is in no way related to the actual Marley estate and trust me, if they found out, they would want to get to the bottom of this.
I came across the meme on twitter and the account was asking for people to retweet, follow and drop your SOL address. So I thought what the heck, I actually am digging this meme. Long story short I ended up receiving 500,000 units of $Marley FOR FREE. I didn't think much of it but followed the account and kept up with when they were going to launch.
Once you find yourself on a Bullet train ( my term for a trending meme coin), I think it is extremely important not to sell it all at once.The photo below shows what I would have gained if I sold at the first pump. Only about $200 in SOL. Not bad for something I got for free.
Doge Marley went on a run and many times, I was thinking to press the trigger and let it all go.....but wait...
These are thoughts in the minds of many as they trade/gamble, especially with memes. So the simple boring strategy is what I used. Sell half when it doubles, then half when it doubles again, then sell half when that doubles. But with memes, they move so fast it is not easy to watch the double up and it’s not sufficient gains for meme territory. When I lost track of the double up I went with my gut and watched the order book, checked out X to see the sentiment and thought about the world that was just about to wake up and meme hunt on DexScreener.
Now, I didn’t end up with maximum gains using the double up and gut feeling strategy ,but I came out with something to dabble with or save for a rainy day. I also have a moon bag incase Doge Marley ever recovers …
You know exactly what I mean, every meme has its rug pulled or whales that grab up a chunk of the supply and then they rug pull even the creators of the meme.
Follow your gut feeling is what I’ve learnt. All of last night I was watching the chart for Marley go parabolic, my mind said “yep, time to sell more, it’s getting too hot” and I sold another half. Half of that half into USDC, the other into SOL. I think it was a wise decision.
I still have a few meme bags, some that were not good to me at all, others that I have already taken my profit and letting the rest ride ( moon bag ). None of this is financial advice and trust me I am no trader. Meme coins are all about luck, and I guess I got a little lucky. But before that luck was some muck. 70% down on BCOQinu ( Black Coq in U). Yeah, I bought it just because it gave me a chuckle 😂.
