I've been dabbling in meme coins lately and wanted to share a little bit of what I've learned so far.
There are two main characteristics that every successful meme coin has.
Think of communities like Doge and Safemoon. They are able to spread memes like wildfire, get people talking about their coin, and gain a ton of new buyers in a short amount of time.
A rising price is the greatest form of marketing. Communities that can create hype around their coin while the price simultaneously rises is a deadly combo. This feedback loop results in an even higher price for the coin.
Rising price --> Community hype --> New buyers --> Rising price
Whichever coin does this best sees the highest price increase. If you have the most gains and your community makes a lot of noise, all eyes shift to your coin. That's how you become the next Doge or Safemoon.
Let's talk memetics.
Everybody knows what memes are. A coin with strong memetics possesses the ability to create ideas that are easily replicated. Think the Link Marines. Whoever started that, created a meme that has stood the test of time for Chainlink and has inspired many other projects to create similarly memed communities.
Things to keep in mind:
Memes typically have short lifespans. "You gotta know when to hold 'em, know when to fold 'em."
A lot of meme coins have moved from ETH to BSC while Ethereum continues to deal with high fees.
Don't invest more than you're willing to lose. Assume everything you put in will go to zero, otherwise you're much more likely to overthink the trade.
Stronger memes = Stronger price