- Armstrong described meme coin buying and selling as a “scorching potato” sport.
- Memecoin merchants must make a revenue on their funding as usually as doable.
- From 2023 Might 6 till Might 7 GENSLR is up over 200%.
Based on Ben Armstrong, a cryptocurrency influencer, all meme cash will ultimately go right down to zero, besides maybe DOGE. In a latest tweet, Armstrong described meme coin buying and selling as a “scorching potato” sport. He suggested his followers to reap earnings from investing in meme cash as usually as doable.
In an earlier tweet, Armstrong knowledgeable by his Twitter followers that he transferred a few of his earnings from GENSLR and POOH to DINO. Based on him, that is the primary time he has participated in such high-risk, speculative cryptocurrency buying and selling, in any other case often called “degen”, brief for degenerate.
Among the many meme cash that Armstrong traded have been GENSLR from 2023. Might 6 till Might 7 rose greater than 200%. In 24 hours, the token went from $0.000000005306 to an all-time excessive (ATH) of $0.00000003588. As of this writing, the worth of GENSLR was tracked and traded at $0.00000002976.
POOH rose from $0.00000001341 in 2023. Might 5 to $0.0000001954 in 2023 on Might 6, marking the token’s new ATH. Regardless of hitting a brand new ATH, POOH is up greater than 96% within the final 24 hours and is buying and selling at $0.0000001206 on the time of writing.
The sort of fast pump skilled by GENSLR and POOH is typical of the small-cap cryptocurrencies focused by traders within the degen commerce. They’re often very risky and have a tendency to extend dramatically in a brief time frame. Nevertheless, they’re thought of high-risk investments as a result of their costs are likely to fall sharply. Therefore, Armstrong’s recommendation to followers is to take earnings.
Information from CoinmarketCap exhibits that DINO isn’t but in a big uptrend, with the token up solely 3.1% within the final 24 hours. Nevertheless, DINO’s present state makes it a great candidate for a big rally with a market cap of $234,115 and a rising neighborhood.
Disclaimer: The views and opinions, in addition to all data shared on this value evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own danger. Coin Version and its associates is not going to be held responsible for any direct or oblique injury or loss.
