Dogecoin is a good meme coin with huge market capitalization. A small investment in this meme coin is not a bad idea.
Doge coin price is moving around 0.08$. And it's All time high price is 0.7-0.8$. It means dogecoin is available at 10x low price from its all time high price. In the next bull run dogecoin can break their previous all time high record.
So, hold some dogecoins in your portfolio for massive profit. In short term it can also give good profit 10-20%
Topic: Short Term Trading Altcoins and Meme Coins? - page 7. (Read 1214 times)
So I never traded before and considering to do it now. I know you can trade btc, eth and the main big coins. There are also ton of altcoins out there like solana which is considered a big altcoin, and altcoins like stellar lumens which is a popular altcoin. Then you have memecoins like dogecoin and many others that are on uniswap and pancakeswap. I never used uniswao pr pancakeswap.
Now if you want to do short term trading such as buy these altcoins and meme coins and sell them... let say it could be as short as few hours to the most as in a month or so. But let say you want to be trading daily and thus probably don't want to hold a coin more than a week or so and just want to lock in profits if they have a target price for each altcoin or memecoin you buy. Do lot of people do this? Now obviously if you want to make money short term, this wouldn't be possible if the crypto market is going down right? Thus if btc is going down a lot, pretty much all altcoins follow right? Very few altcoins go up when bitcoin goes down. However, I recall many of these memecoins don't exactly follow bitcoin''s price going up or down right? I'm talking about those memecoins that show up and then probably are gone within few weeks. Now these memecoins are all frauds right? I forgot the exact term that is used for these but it's when creator of a coin puts it and then people buy and then the price drops... what's the term for this? But even if you buy those coins and then sell when you make a profit, it's fine right as long as you don't hold these coins at the end when price falls?
If you are planning to trade and make short term trades... do you suggest normal altcoins? By normal altcoins I mean any altcoin in the top 100. But probably it should be the top 50 or so. What about memecoins? Seems with memecoins you can make a lot more in what you put in right but the risk is higher? However if you put say $1000 in a memecoin. It can 10x. You can't really do that with any real altcoin in the top 100 that isn't a memecoin right? Now if the memecoin goes to almost 0... well you only lose $1000. But you can 5x or 10x your memecoin right? So as of now and recently, are there altcoins or memecoins like that? Such that you buy it and hold on to it for few days or week or weeks and then as long as you sell it before the price plummets you profit?
The other question is if you plan to do this type of trading, what exchanges do you have to use? I only have access to coinbase and gemini so I can only trade in real altcoins so to speak. Sure you can invest in dogecoin which is a memecoin but it's a top altcoin in a real exchange lilke coinbase and gemini. But when you talk about those memecoins... what exchange will you have to use? Is it only uniswap and pancakeswap? With them, you need to have ETH right? Thus you send ETH to it and then buy those memecoins? However, I heard in those exchanges, you have to use wbtc or something like that? How does that work? But in the end when you cash out if you can, you would be withdrawing ETH back right from uniswap or pancakeswap? Or can you withdraw say usdt or usdc or btc back to your wallet?
Anyone here who trade altcoins and especially memecoins and give insight on this? Also it's hard to 5x even with altcoins now right? But memecoins it isn't? Just the risk is much higher? Now if you could buy 5 memecoins and one of them 10x and the other ones go to zero... then you profit right? Also do all memecoins and altcoins go to 0? Or it's always like $0.01 or $0.0000001?
Now if you want to do short term trading such as buy these altcoins and meme coins and sell them... let say it could be as short as few hours to the most as in a month or so. But let say you want to be trading daily and thus probably don't want to hold a coin more than a week or so and just want to lock in profits if they have a target price for each altcoin or memecoin you buy. Do lot of people do this? Now obviously if you want to make money short term, this wouldn't be possible if the crypto market is going down right? Thus if btc is going down a lot, pretty much all altcoins follow right? Very few altcoins go up when bitcoin goes down. However, I recall many of these memecoins don't exactly follow bitcoin''s price going up or down right? I'm talking about those memecoins that show up and then probably are gone within few weeks. Now these memecoins are all frauds right? I forgot the exact term that is used for these but it's when creator of a coin puts it and then people buy and then the price drops... what's the term for this? But even if you buy those coins and then sell when you make a profit, it's fine right as long as you don't hold these coins at the end when price falls?
If you are planning to trade and make short term trades... do you suggest normal altcoins? By normal altcoins I mean any altcoin in the top 100. But probably it should be the top 50 or so. What about memecoins? Seems with memecoins you can make a lot more in what you put in right but the risk is higher? However if you put say $1000 in a memecoin. It can 10x. You can't really do that with any real altcoin in the top 100 that isn't a memecoin right? Now if the memecoin goes to almost 0... well you only lose $1000. But you can 5x or 10x your memecoin right? So as of now and recently, are there altcoins or memecoins like that? Such that you buy it and hold on to it for few days or week or weeks and then as long as you sell it before the price plummets you profit?
The other question is if you plan to do this type of trading, what exchanges do you have to use? I only have access to coinbase and gemini so I can only trade in real altcoins so to speak. Sure you can invest in dogecoin which is a memecoin but it's a top altcoin in a real exchange lilke coinbase and gemini. But when you talk about those memecoins... what exchange will you have to use? Is it only uniswap and pancakeswap? With them, you need to have ETH right? Thus you send ETH to it and then buy those memecoins? However, I heard in those exchanges, you have to use wbtc or something like that? How does that work? But in the end when you cash out if you can, you would be withdrawing ETH back right from uniswap or pancakeswap? Or can you withdraw say usdt or usdc or btc back to your wallet?
Anyone here who trade altcoins and especially memecoins and give insight on this? Also it's hard to 5x even with altcoins now right? But memecoins it isn't? Just the risk is much higher? Now if you could buy 5 memecoins and one of them 10x and the other ones go to zero... then you profit right? Also do all memecoins and altcoins go to 0? Or it's always like $0.01 or $0.0000001?
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