# What are memecoins anyway? A cheat sheet for newbies aiming for explosive profits.

**In short:** A typical cryptocurrency without practical utility that originated from internet memes like Dogecoin and Pepe. Its value is determined by the enthusiasm of the community and the level of buzz. It can increase a hundredfold in a short time or drop to zero; the fluctuations are extreme.

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# # The essence of memecoin

The reason DOGE has a market cap of $25.8 million and SHIB has a market cap of $11.2 million is not practicality but **community enthusiasm**. It is a playful segment of the cryptocurrency market driven by trends and viral effects.

Some may eventually be integrated into DApps in the future, but at the initial stage, the connection with pop culture and the sense of unity it creates are everything.

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# # How to discover promising projects at an early stage

**1. Social Media Monitoring**
- Twitter: Follow hashtags like "new ICO" and "new presale"
- Reddit: subreddits like r/memecoins, r/CryptoMoonShots
- Discord/Telegram: Large communities like Jacob's Crypto Clan (exclusive information access with premium membership)

**2. On-chain Data Analysis**

Using tools like Birdeye, track the movements of smart money (whales). By observing the trading patterns of wise investors who act before price increases, you can discover hidden gems.

**3. Utilizing Data Aggregators**

Filter newly listed projects on CoinMarketCap and CoinGecko. Track trading volume and market cap fluctuations.

**4. Via Launchpad**

Invest in promising projects from major exchange launchpads. Please note that KYC procedures are required, and there is a rights confirmation period (usually 6 to 12 months).

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# # 5 Factors That Shake Price Fluctuations

1. **Community Enthusiasm**: Soaring due to viral trends & influencer support, plummeting due to bad news.
2. **Speculative Trading**: FOMO is the main cause, increasing volatility with large amounts of buying and selling.
3. **Market Manipulation Risk**: Due to low liquidity, artificial price fluctuations are easy with large orders from whales.
4. **Lack of intrinsic value**: Dependent on emotions and hype, without technology or use cases.
5. **Pump and Dump**: Coordinated buying and fraudulent information to drive up the price, selling off at the peak.

⚠️ An excessive token supply can also put downward pressure on prices.

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# # Can I create my own memecoin?

**Answer: YES, but it's difficult to execute**

**Solana Version (Easy)**
1. Wallet setup such as Phantom Wallet
2. Access token creation tools such as Orion Tools
3. Enter name, symbol, supply amount, and logo
4. Revoke permissions and create liquidity pool
5. Community building on SNS & Discord & influencer marketing

**Ethereum version (a bit complex)**
1. Prepare ETH wallet + ETH for gas fees
2. Enter the name and other details in the token creation tool
3. Consideration of advanced options such as tax settings and bot prevention mechanisms.
4. Create a liquidity pool on Uniswap
5. Listing application on CoinMarketCap/CoinGecko

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# # Purchase flow on Bitget Wallet

1. **Purchase ETH/SOL from fiat currency**: Via OTC services supporting Visa/Mastercard/Apple Pay
2. **Memecoin Search**: Search for the desired coin in the Market tab
3. **Execute transaction on Bitget Swap**
4. **Options**: If you want to trade futures, deposit USDT on the Bitget Futures DApp.

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**Conclusion**: Memecoins are a world where emotions and buzz are everything. The profits are determined by early discovery and community growth. However, always keep in mind the risks of pump and dump.