Meme coin mania.

By crypto newbie mom | A foray into crypto, A technophobes journey | 15 Jan 2024

Good morning/evening.

Meme coins, ok now with most tokens or crypto projects you can look at the fundamentals, the tokenomics, the utility, but with meme coins I just have no idea.

I mean a token taking off because it is named after someone's dog or cat! How are you supposed to know which one to pick? Even saying $100 on some/most or all would mean you would need quite a lot of $$$$. I have heard people say the first meme on a L1 or L2 is usually the best one but that is still a lot of memes!

I also understand that a catchy name and a great community can work wonders, just look at coq inu! (There are only so many times that you can say is coq up though!)

Yes I also did have a go at a couple of memes, it is hard not to when you see some of them shoot up and those that got in early did really well. I got in early on the one meme that is doing nothing. CHIPI, why did I pick CHIPI? Because the cat was cute, David picked SNEK as it was the first and possibly only meme on Cardano.

This is the CHIPI chart

I know it looks sad but CHIPI is up 107% after taking this screenshot, also I did only invest money I expected to lose.

There is also healthy competition in this house. David will ask me how 'MY CHIPI is doing' I will say 'not at zero yet' then I will say 'MY INJ is great, how is YOUR MATIC doing'? But anyway David chose SNEK and here is the SNEK chart.

Admittedly it does look better than CHIPI but on the plus side CHIPI has not rugged yet!

Now if anyone can explain to me how to pick a meme then please do so in the comments as I would love to know. We do have a BONK bot running as well and that is actually doing quite well but we do earn BONK while we are using Kamino finance too.

Perhaps I should make my own meme coin, this could take off eh, we can call it 'Cat in a box' !