Key Takeaways

• Real memecoins are built on hype and a thriving community willing to push projects to new heights.

• Pump-and-dump memecoins are all about the rally, with Devs pulling the plug on others.

• Real memecoins focus on hype, community, survival, and the active development of the space by devs. 

If you have endured a long time in the crypto space as an OG, you would have witnessed several bull and bear markets, coupled with extensive hikes in gas fees on the Ethereum network, and thought of trading memecoins, which are gunning for massive gains with just a few dollars. 

While these memecoins never had real value based solely on hype from their community and viral tweets, they have made many crypto market millionaires, with memecoins becoming a narrative in their own right. 

However, the possibility of not getting rugged in the memecoin space is slim. These tokens have caused many laughs and cries, with much hype suggesting that getting in at an early price guarantees better results.

Although this could be true, developers who wish to rug you after hitting a few million in market cap would do that, while other developers are focused on growing a sustainable community around these memecoins, which have survived several bear markets with the likes of DOGE, PEPE, SHIB, and BONK spearheading this charge. 

Welcome to the world of memecoin, where hype and strong community backing for a memecoin take the token to the top while pump-and-dump tokens with just vibes also exist. 

Memecoins With Real Communities

The memecoin market has evolved over the years, starting with Dogecoin (DOGE) in the crypto space. This project started as a joke but has gained many followers, known as the DOGE army. 

The DOGE army is a strong community regarded as a cult in crypto space, where degens would do anything to see the price of DOGE hit $1.

Dogecoin gained significant prominence in the 2021 bull market, where Elon Musk demonstrated his genuine admiration for the memecoin, as the price of DOGE exhibited remarkable price action.

Thousands of memecoins soon followed this rally, but many of these have since become nonexistent due to the harsh bear market. However, emerging memecoins with stronger community backing, such as PEPE the Frog, are gaining traction. 

Although many were attracted to buying memecoins on the Ethereum network, gas fees posed a major challenge for degenerate traders who could not afford to spend $100 on gas fees while purchasing a $50 memecoin.

This led to memecoin growth on other chains, like Solana, redefining the trading of memecoins due to its fast transactions and low gas fees. 

On the Solana network. Devs have been able to form a strong memecoin community based on the following criteria; 

• Real inside jokes or tweets 
• Devs and community promote the growth of memecoins
• Daily shitposts to keep the community active and growing

These community-driven memecoins don’t just pump; they survive the harsh bear market winter season of the crypto market. 

Pump-and-Dumps – Memecoin Dark Side

Not all that glitters is DOGE.

While the memecoin space has made millionaires in the last couple of years, it has caused significant damage to traders and investors due to constant rug pulls by Developers following a strong rally to the upside after making a couple of Xs.

Boom, the memecoin is rug-pulled to zero, all liquidity gone, leaving degen traders stranded. 

How can I protect myself from or identify pump-and-dump memecoins?

• Look out for funny names 
• Check social media pages such as X and Telegram
• Observe if there are strong buy volumes than sell orders before you Ape in 
• Always check for phishing, or Devs can pull out liquidity or lock degen withdrawals

Why This matters for degen traders like us.

Trading memecoins without proper research is like taking a poisoned drink at a party where all attendees are paid actors. 

Conclusion

The memecoin space is a space where anyone can launch a memecoin within 10 minutes from the basement of their house and slap a GIF on it: “TO DA MOON.”

Real memecoin communities exist; choose your tribe wisely and not Ape-ing blindly by carrying out the following checks;

• Make background research on socials 
• Devs participation 
• Token holders and Buy-to-Sell ratio

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