Pseudonymous trader Xremlin revealed how he turned $5,000 into $200,000 twice by trading meme coins and shared his ultimate guide to profiting from what he believes to be a meme coin supercycle.
What Happened: Xremlin took to X to emphasize the outperformance of meme coins compared to other sectors in the current cycle, stating that investors can "safely make 2x – 5x on high caps," citing Dogwifhat WIF/USD and Pepe PEPE/USD as examples.
Low-cap meme coins offer the potential for 100x returns and Xremlin believes meme coins will not experience major corrections this cycle.
The trader shares his rules, tools, and skills that have helped him make thousands of dollars on memes. He advises following the trend, getting greedy at the start of a trend and safeguarding capital as time goes on. Xremlin also stresses the importance of taking profits, as "95% of coins will eventually fail," and trusting one’s judgment instead of blindly following calls or FUD on social media.
To spot meme coin winners early, Xremlin recommends identifying gems before their launch by following accounts that share new launches and closely monitoring promising projects.
Also Read: Trader Who Made ‘Giga Wealth’ On Memes Reveals ‘Mememillions Playbook,’ Still Holds Most Of His DOGE
Why It Matters: Xremlin’s guide provides valuable insights for investors looking to capitalize on the potential of meme coins during the presumed “supercycle.” By following his strategies, such as identifying trends early, taking profits and trusting one’s judgment, investors may be able to maximize their returns while minimizing risk.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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