These Memecoins Are In The Sweet Spot For Future Greatness
Always In Search Of Alpha
Something I learned to do many years ago is to put personal preferences aside when it comes to financial markets and making money. Removing the emotional aspect of trading is probably the single most powerful accomplishment any investor or trader can achieve. However, being able to banish it entirely is perhaps a pipe dream, but a dream one should still endeavor to pursue, as any level of accomplishment is incredibly beneficial.
A few months ago I chose to invest in a memecoin as a type of “leveraged” investment. Regular readers will remember my call on BONK, a few months back. This was before any of the hype and euphoria. BONK went on to rally as much as 5000% from my entry point and publication of this article. At this stage of the bull market, BONK has been my most successful call and led me down the rabbit hole of memecoins and into the world of heavy speculation.
Being someone who is generally opposed to the idea of gambling, the only viable path that presented itself was that of ongoing and in-depth research. Immersion is at the heart of all forms of efficiency and success. It has a way of ensuring you remain in sync with whatever niche you have chosen to immerse yourself in. To better position myself as an investor, rather than a gambler, I chose to seek out the next wave.
Solana memecoins have been rallying for quite some time now. Injective Protocol also experienced a fair amount of hype. My expectation and prediction was that Fantom memes would be next. Approximately two weeks ago, I began researching some “blue memes” This has turned out to be incredibly beneficial. Unless you catch a memecoin within minutes of listing, the second best time is to wait for a retracement which usually occurs within the first four days.
The Fantom memes I selected and have managed to gain an incredibly great entry on are CEKKE, KIRBY, EGGMAN, and FKNUCKLES. There are one or two others that I am still building, which appear to show promise. CEKKE was my first entry. I managed to get in right at the bottom.
Another perfect entry was KIRBY, which I managed to pick up near the bottom on a rather significant retracement. Both CEKKE and Kirby have been trending in the Top 3 spots on the Fantom chain for several days now. The Fantom Foundation apparently holds $30K worth of KIRBY. The market cap is currently ranging in the $5 million to $6 million zone, and in my opinion, still has significant long-term upside potential.
EGGMAN has also been trending over the past few days and is currently forming a beautiful cup and handle on the hourly chart. However, time is running out, it will need to respond fairly soon for it to remain valid. The memecoins I have chosen, all fit into a very specific criteria and have a strong community backing. This strict screening process removes a lot of the risks associated with memecoins.
Many of these tokens only manage to survive for several days. Some mere hours! It’s a dangerous world, and without a plan, you will likely become someone’s exit liquidity. I am planning to hold these “blue memes” well into the bull market. I will, however, remove some “cream” after an enormous rally, were the opportunity to present itself. The market cap valuations of these memes are still incredibly attractive.
As the market continues to push higher, and Fantom experiences its layer 1 effect, I expect these memes to perform exceptionally well. Kirby has already peaked at approximately 800% from my entry, and CEKKE at almost 400%, which is a pretty solid base. However, memecoins are another animal… anything can happen!
Final Thoughts
Even though investors are still killing it with Solana memecoins, topping out signs are evident. I would rather position myself for the next wave, as opposed to riding the tail end of this current move. I have a few exposures to SOL-based memes, but not much. My strategic approach always incorporates powerful positioning through early access. I am not interested in secondhand gains, I want alpha, and that occurs via early access.
Provided, the approach is well thought out and executed, memecoins offer an attractive risk/reward ratio. On the other hand, a “carefree” approach will most likely cost you your shirt. Anyway, that’s it for this one, enjoy the holidays, and have a great new year! See you next time!
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.
