Kitty Cat memecoins are nuts right now
So, maybe you’ve heard, but there’s a lot of insanity going on with the internets lately. People are making millions of dollars in imaginary money trading memecoins on the Solana network with names like dogwifhat, popcat, derpcat, catwifpants, etc. Tokens are rugpulling and moonshotting all over the place. It’s craziness.
I’ve been trading memecoins since the early days. I remember looking at dogecoin in the trading app, way back in the day, when it had so many zeroes on it that you couldn’t even count them. It took ten years for that number to climb and I only made about $250 off it. I missed the boat. Now these tokens are jumping %100 overnight or crashing to nothing. It’s insane.
One of the reasons for the insanity is that the Solana network is super easy to mess around on. Once you have SOL, transacting is as simple as deciding what you want to do. Transaction costing isn’t a thing. It’s so cheap that you can just forget about the transaction and think about what you’re trying to do. Now it’s super easy to give away money on the internets.
It’s brutal out there guys. There are lots of rugpulls and people pulling all kinds of scams. The first time I tried trading I lost $1400. It was awful. Some of these creators are just mean. If you can avoid the jerks, it’s a lot of fun though. when I lost all that money, I was just putting $20 into all kinds of different projects. Almost all of them collapsed by the end of the day, but one of the things that took off was popcat. $20 turned into $140 overnight. That was cool.
Making money is fun. It’s not easy though. It’s definitely hard work. The only way to be profitable at it is to do your research. I’ll be writing some articles here about how to sniff out the bad tokens and some of the good things to look for in a potentially profitable token. It’s all about the research guys. It really pays off to be a detective and learn as much as you can about something before investing.
Also, I made a token myself. NASA just transmitted a video of a kitty playing with a lazer from outer space. The kittie’s name is Taters and he is very cute. The token is an experiment designed to be a derivative of other kitty cat tokens, almost like an ETF of kitty tokens. It’s experimental. I just started on it. It will take some time to get everything set up.
So, memecoins can be fun. Make sure you do your research. Don’t take investing advice from the internet. Certainly don’t take any financial advice from me. Buy low, sell high.
