B retweetledi
this post will get fewer views/likes/shares than the ones where I write 9 words bullish about a specific token, but I wanna share my thoughts anyway -
when a ton of people have made hundreds of $k or $m in a token, unrealized, in this type of market, it only takes 2-3 of them to sell (if the token is small, especially a meme with little liquidity) for everything to collapse quickly.
with some of these tokens being on perp exchanges, such as cashcat for example, it opens that risk up more because people take leveraged bets, so when price goes down they've gotta either cover or get liquidated
we've seen some very big liquidations so far for $cashcat yesterday - I was fortunate to have shorted prior to that point so it was net beneficial to me tbh - but I'm posting this here so that those who are newer to trading memes are reminded that what goes up quickly can also come down quickly, so keep it in mind
on average I prefer to invest in projects with real utility, buyback mechanisms, and use-cases - but those are "boring" for most people because they don't go up as quickly as a meme does. But, besides $doge long ago (2016 ish) and $bonk a few years ago (which I invested in *because it would have utility* btw), I have made way way way more money in useful/utility tokens than any memes. it's less fun in some ways but in the long run you can make a lot more in my experience, with the added benefit of being able to sleep at night
$sol $bnb $cake $ltc $nmc $eth were all fat fat winners in my past, but were also all utility coins that took some time to really pay off. many people got bored and sold, but I stuck with, and usually dca'ed into, these tokens over time before finally getting the returns I was expecting. I mean, $btc when I bought it was in the low teens ($10ish) - that was a slow cook but what a payoff eh?
anyway, my current biggest bets are on solana:2oQNkePakuPbHzrVVkQ875WHeewLHCd2cAwfwiLQbonk , $lit, $zro, $arb, $ena, and a few others. I expect/hope that each of them will be looked back on as an "obvious" play that many people had a chance at, but were too distracted to pay attention to while they were low
for clarity: this is not financial advice to buy or sell any particular token
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