Retrospective of this round’s MEME narrative: How did it start and explode?
MEME narrative retrospective: Origins and explosion.
Encrypt KOL 31 | Trader conducts a comprehensive review of the current MEME narrative and observes some “smart money” addresses, sharing two anti-fraud tools.
How did the MEME narrative start and explode? It all started a month ago when $AIDOGE distributed an airdrop to those who had registered for the $Arb airdrop. On April 17, the price of $AIDOGE reached $75, and the hype spread like wildfire, causing a market chain reaction and inspiring other meme projects to follow suit. In just a few days, $Aidoge skyrocketed tenfold due to hype, with its airdrop value exceeding $700. Around the same time, $Pepe was launched and gained attention from the $ETH community. Some smart money (or insiders) quietly began to position themselves, and $Pepe and $Aidoge became the leaders of this MEME narrative.
There are some security issues to consider: 1) Avoid FOMO; not everyone can make significant profits through small investments. 2) Be careful not to become a bag holder: people who already hold coins will sell them, and when you try to enter the market, you may become their bag holder. Over 100 MEME coins are released every day, so beware of RUG. Don’t forget to take profits; doubling your investment is usually enough. Some characteristics of junk project coins are: 1) They can only be bought, not sold. 2) Most of the coins are concentrated in a few wallets. 3) Low liquidity. 4) No liquidity lockup.
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You can use https://honeypot.is to preliminarily check if a coin is safe: paste the contract/token address into https://honeypot.is, click “Check for hoeny,” and if it shows a warning, don’t trade that token. You can also visit https://dextools.io/app and enter the token contract address to check liquidity, ensure that a large amount of liquidity is locked up, evaluate the number of token holders (if it’s small, it may indicate potential risks), check the trading volume (higher is better), and review the DEXT score (it should be above 70-80 before deciding whether to invest).
Reference: https://twitter.com/althunter31/status/1662704515165073409
