Ok well, past week grabbed my first conscious position (YES I WANT TO BE IN!) into one of those loved/hated coins called memecoins.
Although the most important ones are DOGE and secondly SHIBA for me the real play with these types of coins is finding them very early. The most visual example is being able to buy DOGE sub 0,01$ since doesn't make any sense to buy it when it's worth 0,3$ and you're expecting 1$. Check this log chart and repeat after me:
''I want to load up on good projects during bear markets (extended or not).''
The time is DURING the bear market and NOT after.
When people entered crypto in 2021 vast majority already missed most gains. So, learn and live for another day instead of making risky moves. Time in the market beats timing the market.
Always has been like that.
the R:R isn't simply there.
I was VERY lucky to grab a couple of small bags (both for me and for SEED holders) sub 1M mcap. After the correction, we're still sitting comfy at x4 or +400% and without plans to let this one go yet.
Even at the top, the mcap was still around 5-6M which is very little and with plenty of room to grow. In my opinion 30M is MORE than feasible, which means that I'm counting on another x5-x6.
Some trash memecoins like yooshi sat around #200-500 spot in coinmarketcap with 50M mcap circulating.
That alone would be another x10 from this price point, which would transform our initially small bag into a very decent one, where I would be taking out most of the position.
IMHO I believe this is how you play it:
Honestly, nothing makes this being worth being held long-term (months). This is a swing trade at maximum. But...
After all, what matters is that number is going up. So If you enter and make some don't marry your bag. This type of coin relies solely on hyping/despair cycles.
And that's all! Not financial advisory like always.
Take care and happy trading!
