Meme Coin Degen Might Just Not Be For Me Or Is It?

This week has been the rebirth of of memecoins on the Arbitrum network, any project that is planning on launching this period is making a very big mistake because the crypto community is focused on Arbitrum memecoin airdrops. Arbitrum airdrop receivers have received three airdrops in one week and one of the the airdrops peaked at $400 and the rest are still below $50. Why are these projects giving out free money? Well they are capitalising on the Arbitrum hype and milking it. Arbitrum airdrop was one of the biggest airdrop in history that created massive hype and motivated a lot of people into going into more airdrop hunting.

I have had my fair share of memcoin degen in the past, some had gone well and some had rekt me, but just like every other person, we all know that memecoin degen is a total risk, there is no utility attached to the project just people throwing money into some contract and hoping for some pump magic. Some of us got lucky and converted $200 to $4k in less than a week while some of us had to take out our loss and moved on. Earlier this year, Solana memecoin was trending, I saw a lot of people making a lot of money from memecoins and it motivated me to throw a hundred dollars into a memecoin and I was rekt, which thought me a lesson, which is, before investing in any memecoins, take your time to study the memecoin and the community. Memecoins strive based on hype from the community, when the community is hyped, they pump money into it, because the gambling feeling and adrenaline is highly flowing in their system.

I saw a meme project named AISHIBA on the Arbitrum network, they launched an NFT and holders of this NFTs would receive airdrop, I got two of this NFT, which was really cool because the NFT did over 700 ETH trading volume on opensea, the community was really hyped and pumped. They launched their token and gave a specific time for the airdrop of their token, the community became really hyped and the token started pumping. I invested some money into because I was in the discord and the community was really hyped. The opensea NFT trading volume was going really well, but unfortunately the project disappointed the community by not fulfilling their airdrop promise. This made the community mad because they keep giving excuses to why the airdrop is being delayed. In no time, the token started dumping real hard and my money was invested in it. This was two days ago, since its a memcoin degen, I invested what I could afford to lose, so I moved on, sold and took my loss.

I have not had a major moon phase in a memecoin degen before except when I invested in safe moon in early 2021, I converted $50 to $500, ever since then I have been looking for more opportunities like that. So this has made me make some degen which have been resting but I have not lost hope. I made two degens today, one rekt and the other didn’t. Glad the second one that didn’t rekt was the one with more investment as it gave me some beautiful pump that made my day. Well, all I can say is that, memecoin is fun sometimes, but remember to always degen with what you can afford to lose. So you dont go blowing your life savings.

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