I don't know what made me do it a couple of weeks ago. I was amazed at some tokens that had skyrocketed especially $MOTHER and $DADDY which wwere pretty much celebrity memecoins so when I saw the Hawk Tuah clip going viral. I immediately looked up how to issue a token on Sol but I wanted to check if anyone had launched a token yet around this. I immediately searched for it on a decentralised token search site called Dexscreener and loan below, there it was. Just launched a couple of hours before me. So I put $100 of my convert Hive to Sol. I went to sleep and woke up the next morning looking at Hawk Tuah trending all over the world. My coin had gone from $100 to $15,000 overnight and I woke up and it had gone back down to $10,000 and I immediately cashed out. Due to this massive windfall which was one of my most successful ever trades. My first 100X . I became interested in this memecoin craze so I kept $500 worth of Sol in my wallet and went about hitting another trend. Now I found this was easier said than done. With Hawk Tuah I was in the right place at the right time and just had a feeling this was going to go global which it did.

I was on holidays with my family and heard a couple talk about it behind my back I am sniggered like a little dumbass that I just hit the jackpot with the whole thing and it was paying for our stay here. It's the little things. Anyway I put aside a few pound and the next day I went back onto dexscreener and seen what was trending and investing just a little in a few of them. 2 of them gave me a little profit and one of them rugged which is the norm around Sol. I was in shock as it was the first time I was rugged but apparently its the norm. You get in and get out as quick as possible. I was lucky with the jackpot one because I got out when most people were getting in. I quickly learnt that if the tokens were trending on Dexscreener at all then I was too late to the party.

Bonkbot

So how was I going to invest in tokens that had not trended yet. I had to do some research on how to be successful and I found it pretty easy. This game is very very lucrative. There was one thread on Twitter where they gave 0.7 SOL to 3 expert memetraders to see who could get to $1 million first. All three of them did by the way but one did it faster. They all used Bonkbot on Telegram. I added it on my telegram and started dabbling with it with a few Youtube videos. It is an unbeliveable tool that tells you every token newly minted on Sol, every pool that is created, trending coins on Sol and the bot even buys the token for you if you send Sol to a special wallet which I did. I now make most of my trades using this function. The reason for this is that Raydium and Jupiter DEX's get fairly clogged up when buying a memecoin on the up so this bot does it for you. Just copy in the address and hit buy and you are done. You can set up tabs to customise your amount to buy. I set mine at 0.05 SOL for starters anyway to see how I get on. I reserved $100 for mistakes as a learning fund. I think it is important to apply a budget for mistakes in these types of tools but for Bonkbot it is pretty straightforward.

Rugcheck.xyz

This is another useful tool and if you put the token address into this site then it will tell you some information on the token. My biggest problem starting out is that the owner had a freeze authority on the token so if a token was trending , I jumped in only to realize that you could not withdraw. A textbook scam which I learnt my lesson on. Also a big red flag if the owner has 100% of the token so the less the owner of the token owns the better in some cases. Liquidity is an issue also . If there is too low liquidity then it is a red flag as noone is investing. The expert traders monitored liquidity for all the new memecoins and as soon as liquidity started increasing in some coins then they jumped in. I have still to figure out how to monitor an increase in liquidity but that is next on my list.

Memecoin Guy

I started chatting to a memecoin trader online and he told me that 7 out of 10 tokens rug and that is normal even for the best traders so picking the memecoin that doesn't rug is the key. There is no magic in this. It is not about whether a project has an end use. None of them do. But the projects need to have a team behind them that have a reputation not to rug and leave the coin run its course. Not obviously they need to profit in some way as why would they launch it for starters but once they don't just rug is the key. Fair enough I suppose. So it is fair to conclude that if 7/10 tokens are rugged then only 30%.The 30% of trades that do work out really really do work out and there is your risk rewards. It is all about the research. Most of these guys use good old Twitter to research these coins and whether or not they have a good following behind them. But as I learned , it doesn't matter if the meme is any good. He also uses Dexscreener and uses the tab new pairs hours which is available on the left of the screen. He also uses the 24hr gainer tab,

Crypto is known as the traditional market on steroids but this memecoin trading is the crypto market on every drug imaginable. Millions are being made with very little collateral. It is actually mad. The younger ones don't want to wait for the likes of Hive , Ethereum , Link and others to go up. They want fast gains and they want them now. It is gambling. At least in crypto. There is no other way of putting it but in my opinion gambling is fun and if I was to put $20 into this every month and losing it then I could not care less. But if you have any "Put the house on Black" tendancies then stay very well , and I mean very well away because this shit is addictive.