Topic: How fast can one achieve Crypto millionaire status with meme coin? - page 3. (Read 985 times)

Yes you can but the problem is finding the right meme coin that will give astronomical profit. Attaining this achievement requires extremely luck if you are just a normal trader because there’s bunch of meme coin exist and most of them are scam. So it’s like gambling on a x1000xxxx winning chance rate since investing on scam is already equivalent to immediate loss.

I believe meme coin investment is only profitable if you have an insider info about certain project that will give you advance call and can guarantee legitimacy of the meme coin. Without this, you are just gambling with meme coin.

Talking about how fast some one achieving crypto millionaire with investing in meme coin depend on how much your capital investment and which one meme coins your investment. Actually I don't sure with some one easily to be millionaire with meme coins depend on diamond hand or not, when meme coin up 100% actually many people won't loss opportunity for selling and not have ideas waiting with meme coin price pump drastically more than 1000% until 5000%.
Shiba inu coins is the real show us how many millionaire success, first they have huge amount investment and then keep diamond hand although siba price up still waiting another drastically pumping price before selling it.

Depends on the market and your capital as well. With capital or the amount you will invest, then obviously the larger amount brings bigger profit. And with market conditions, and as we all know how the market price of meme tokens move, most of the time it is just relative to major coins' price direction. Not all meme token especially new ones, are successful upon their release to exchanges.  We are just currently thrilled because there are many meme tokens lately which had a price break out but since we are in this crypto industry wherein no certainty is present as well as consistency with price directions, then it would be wrong to assume that climbing the million profit mark would be easy. Have a wrong entry and you'd be squeezed in deep loss. Never be too confident.

Remember what happened with SHIBA?  It should be a enough warning to investors who are too confident of meme tokens. These coins are mostly carried by hype alone and whale manipulation. If you know how to ride the tide then that would be fine. It is also unnecessary to focus only with the profit goal; be mindful always with the risk present. Volatility itself speaks for that risk.
Eitherway will not bring you guarantee of profit and if you are here for years, you'd know things won't always be in accordance with our expectations. Price charts are  good indicator and investing to potential alone will still be some sort of a gamble.

I think the possibility is there, but not everyone gets that opportunity, maybe only 10 out of thousands or hundreds of thousands of people.
It's different if you buy a coin that has potential and is recognized, many people can become rich but not in a short time like memecoin.

I totally agree with what you are talking about, indeed in the world of investment, in my opinion, it also follows the direction of hockey, because what when other people are lucky to invest and require a little time, after we try sometimes it is much different from what people talk about, back again if our hockey is good, we will be lucky, but if our hockey is not good it is already a risk.

Well i don't see the point what you said. People just want to hear how many x do they get, they don't care what is your story telling is

Basically you are right but people are trying to be right, they will keep their mouths shut when they are wrong and they don't want to talk about it.
But when they right, they will talk about it all day

I do not think how long is the right question here because no one truly knows when a coin will sky rocket but what are the chances of a memecoin turning you into a millionaire? I would say pretty low as most of memecoins do not get past the pump and dump stage they never recover and never get a new ath some of them even just die

If you get early in on enough of a new coin then it might take you as short as a year depending on when did the coin started gaining value it is a must that you keep your eyes peeled for new projects and try to see which ones seem to be most profitable or have the most potential

Meme coins are altcoins and altcoins are quite risky. The thing is, you never know which altcoin would pump next nor the one that is going to dump, it is basically all about luck and that is why many people refer to altcoin investments as gambling. Having said that, if you think you can get rich by buying meme coins, then go ahead and see what happens, but mind you that no cryptocurrency is a get rich quick scheme, for coins like Bitcoin that has a use case, it can fall in price, but you are pretty sure that because of its utility it will rise again, but you cannot say the same for majority of altcoins, and that's why buying them is more risky.

The devs are even luckier if a whale picks up their coin for manipulation but there are also lucky investors who can get on time before the coin dies. These are the ones that can try again and may only stop once they already experience a massive loss.

Yes, there are lots of these coins now, so that can actually mean that investors has more chance to earn and get rich than ever. There are no such thing as good meme coins, but maybe if they are like the coins that we talk about earlier, that classifies them as one, and also if they will remain to get listed and had some nice liquidity like on what we saw with Dogecoin and Shiba inu.

If you know what you are doing - not a very long to be a crypto millionaire. If you have been following the solana meme season you would see that bonkcoin managed to make some people millionaire for being such strong supporters and beliers of the project. Most people who got the bonk airdrop sold early but the few who hold got rewarded.
Another memcoin on sol is wif, this memecoin also made lots of investors rich if not millionaires too. The point is, once you are able to identify a good memecoin to hold and ride it to the top, you will happy with your decission.

It is interesting to read how many people read and comment on this tread. i see alot of viewpoint how people response about memecoin.
however i wanna share my simple though about how to read memecoin season.
Just to take a look at dogecoin performance
https://coinmarketcap.com/currencies/dogecoin/
So we can see the big picture about meme

The thing with Memes is that there's always that element of not knowing when it will cast and disappear with the wind. Otherwise, memes are a sure way of flipping small capital. The $11.8 investment in Shib that turned millions is achievable but that will be with those who got in early and refused to sell off too early. I'm not sure there are those who kept that long, except they momentarily forgot they once bought and then had to quickly rush to sell off.

In 2021 when memes got on the trend, there was a memetoken (Moonrat or Safemoon, I can't remember again) that I invested less than $100 that turned >$5,000 but greed set in and I was hoping it would hit at least $10k. But of course, we know how these things end. I lost a better part of that profit before I sold off in regret and moved on. I learned a valuable lesson from that.

We could all become millionaires, but if God hasn't given us it won't happen, but we as humans can only try. I keep trying to analyze new coins from various trending categories, but I still don't have the strong confidence to jump straight in as an early investor in new coins, I prefer the top altcoins to avoid that doubt

I can see that the meme coin "WIF" really do have the potential of doing far better due to its low market cap of 998 millions, but other meme coins which I see to do well better (i.e base on how much increase it has got within the past 1yr) and has the potential of going 100x to 1000x within the next 2 to 3yrs also include "Pepe, Bonk and Floki" as both "Pepe & Bonk" already has a proven record of haven gone 1000x, and likely to do so again and again.

         

but out of 100 or even a thousand meme coins not more than 10 coins will do well like that, it's not like you buy a meme coin worth 10$ and next year the price will go up very high like you said, not all meme coins will fare well like shiba and doge.

Yeah now there will be too many project in the market that will be listed in some dex with a small FDV to attract risk-takers who will invest in those projects because of the low FDV value. But at the end it will end up costing more money because most of these new project tokens are kept in reserve by the team itself. Most of these projects don't have more than 1000 unique investors when their trading volume is massive compared to the number of holders. A very ingenious way to put a shade in investors eyes.

It’s not all about the price. The background of the coin is what determines if it’s all temporary or it’s something that could have its name last forever.



It’s still possible. Yes, many projects are being created daily, however, the sky is still open for projects to scale. It may be more difficult to find a project that will make you millions but it’s still possible.

Investing in meme coins can  yield significant returns, as demonstrated by the success of Shiba Inu and others. However, it's crucial to approach these investments with caution. The meme coin market is highly volatile and speculative, making it inherently risky. The rapid gains seen in some meme coins are often accompanied by substantial risks of equally quick losses.
Becoming a millionaire with meme coins depends on various factors, including the timing of entry, market conditions, and the specific coin's popularity. Historical successes like Shiba Inu highlight the potential for substantial returns, but they don't guarantee future outcomes.
Dogwifhat WIF, like any other meme coin, carries inherent risks. It's vital to conduct thorough research, considering the project's fundamentals, team, community support, and market trends. Diversifying your investments and being prepared for potential losses are key strategies in the highly dynamic meme coin market.
While meme coins can offer lucrative opportunities, they are not a guaranteed path to wealth, and investors should exercise diligence and caution in navigating this volatile space.

Maybe not anymore, because every day almost 2 to three types of coins are listed, for example on Bitget or others. If the pure pump is carried out by the owner many times, it is possible that if we hope that the market will of course continue to fall. Whatever type we choose, there is only one thing that needs to be paid attention to, namely that a good trader with a structured trading plan will always set a stop loss for secure funds if a downturn occurs at any time.

No lies, WIF looks good. I just checked the charts rn, maybe I'll DCA in or look for an entry and hope I get lucky haha