Been a busy day for me today, haven’t been on twitter all day, so I decided to check my Twitter and I saw that a memecoin someone tweeted about 11 hours ago at $40k Market Cap is now at $47 Million. Let me explain how and why I felt sad about this pump. So few days ago a coin called AI16Z launched, and the price was at $1+ with over $1 Billion market cap. Felt some tiny little FOMO, it’s not like there was an airdrop I knew about but I wished I got it. So on telegram I found a meme replica of the token but with some tiny changes in the name and the profile picture.
Source
I have seen memecoin replicas pump so hard before, without any hesitation I decided to throw in $20 into it. This year I have promised myself that I won’t be checking any memecoin I buy every time because a watched kettle never boils. Few days after buying the replica, I came and realised it had dumped 5X+, my $20 is now $3.8. I got angry and sold. Now let’s go back to the first memecoin I talked about that pumped from $40k to $48 Million in the first paragraph of my post. That was another replica but this time they made the mascot fatter. If I had seen the tweet that was posted 11 hours ago about this new replica with the fat mascot, I would probably had bought it. If I had bought it, my $20 would have turned $20k+.
But who knows? What if I saw it but because of the bad experience of the first replica that turned my $20 to $3.7 discouraged me not to buy? It’s easier to think I would have bought it because it pumped, I guess we never know. This is just my experience on memecoin, if you are about to trade memecoin, you will some times feel that you were so close to hitting that money goal, but you didn’t. You have to be consistent with trying to win until you win.