The surge in memecoins has led analysts and traders to project growth and trading strategies amid market volatility. A memecoin trader shared trading strategies for users and his memecoin watchlist. 

Rekt Fencer, a trader who made millions of trading memecoins wrote on X (formerly Twitter) on his trading techniques from Solana memecoins. After making millions from the trending memecoins this year and receiving several community requests to share strategies, he highlighted eight key points. 

Avoid Memecoin Rotation

First, users are to avoid the rotation of funds between tokens. While the move to rotate funds can pay off, it comes with high risks as many tokens will eventually fall off. An example is the case of BODEN where many investors sought other assets that plunged in a day but BODEN maintained a bullish firm marking gains in 30 days. 

Secondly, the use of sniper bots comes in handy for most users. Fencer explained that most sniper bits don’t break sound barriers but are efficient to put traders ahead. The fast pace and volatility of memecoins require traders to be 99% over others, he noted. 

Insiders and Maintaining Strategy

Fencer also urged users to follow the insiders to make a sizable profit. Insiders typically buy memecoins before others once they hit the market. These assets can be 100X as seen in cases of BOME and MEW which soared to new highs.

“Because once I find their wallets, I can mimic their trades and possibly catch 10-100x tokens. Yes, hunting down their wallets is tricky, and they tend to switch them now and then but trust me, it pays off, especially if you’re a newbie.”

The plea to “do your research” was trading advice with users urged to look at social media presence, telegram activity, tokenomics, and trading volumes. Furthermore, he suggests keeping bets small and planning money a trader can afford to lose on new memecoins while looking for early narratives.

Finally, Fencer advised users to stick to their trading strategies, ditching losers and maintaining momentum with winners.

Also Read: Bitcoin Price Poised for Long-Term Stability at $70K: Here’s Why

The post Crypto Trader Shares Memecoin Trading Strategy appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am