🤡 Speed date meme coins like a pro

GM Legends,

Meme season is well and truly back as attention moves away from the majors and onto frogs, stonks and your favourite anime characters.

We are also 48 hours into the month of May which historically is a down month as traders wrap up their positions to enjoy the summer break. Bitcoin is holding on to $28,000 as Ethereum holds $1,800.

Today we look at how you can speed date meme coins like a pro.

NFA, DYOR and as always this is just for entertainment purposes.

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Need to know.
If you’ve only got 2 minutes.

The big story.
🔥 Speed date meme coins like a PRO

DeFi insights.
🏦 Cielo Finance’s “onchain discovery as a service” launches private beta
🐸 Pepe breaks $500m MC, enters the top 100 and lists on OKX
🦧 Degen corner: $BTC sell in May and go away!

In the news.
🐮 Bitcoin transactions reach all-time high thanks to BTC NFTs 
🐻 Balaji’s $1m Bitcoin bet might take longer
👨🏻‍💼 What the FED?! Wednesday May 5th, FOMC statement and press conference

Plus Twitter reads from @ChadCaff, @_FabianHD and @Ramahluwalia!

🔥 The big story.
To make you think.

🤡 Speed date meme coins like a PRO

Since I aped into my first cryptocurrency I’ve become a serial speed dater.

Especially with meme coins.

Because like speed dating, meme coins are fast-paced, give you a shot of adrenaline and the next one is 90 seconds away.

But there will always be that one special one that you hold on to and cherish as the return on investment is just too great to say CYA LATER after that first 90 seconds.

In today’s article let’s take a look at meme coins, why they pump and ultimately what you should look out for.

Memes make crypto fun

It’s true…

Memes make crypto fun because they rally the community behind frogs, cute anime waifus and Ryoshi himself.

They also have the power to leave communities in utter disbelief by creating generational wealth opportunities.

BUT I can’t stress enough that meme coins are the fastest way to get absolutely rekt as for every $PEPE there are 69,000 rugs, scams and broken dreams.

Obviously, none of this is financial advice.

To be successful we must first understand the 3 phases of every meme coin

Phase 1: The Gamble

This is where you see an eye-catching ticker name being posted in telegram that’s sitting at $20,000 market cap (MC) being touted as the next shib by a hopeful future crypto millionaire claiming “DEV is SAFU”.

You take your hard-earned work to earn dollars and buy-in with the hopes of it being the one that turns $100 into $1m in less than 69 hours.

Phase 2: The Uncontrollable Euphoria

If you didn’t get rugged… well done.

Now comes an uncontrollable sense of euphoria as the pumpamentals kick in, telegram feels like a high school disco and you watch your portfolio 5x in less than a minute as the market cap hits $100k, then OMG it 10x’s again and hits $1million market cap.

You’re heart pounds and it’s definitely maybe probably most certainly the next Shib, Chedda or Doge (but probably not).

No other feeling like it.

Phase 3: The Disbelief… WDF IS GOING ON?!

You can’t quite believe it as it just doesn’t make sense as the token continue to get more and more traction surpassing $10m MC then $100m MC… is $1billion MC really possible in a bear market?

The sideliners are confused at how they missed it.

Early buyers are bragging to their friends.

And then the traders, are waiting to exit.

Now’s probably a good time to either fomo the momentum (not recommended) or cash out and enjoy the rest of your day.

Just look at $PEPE, if you fomo’d in at $20m MC you’d have been over 20x at the time of writing.

But it’s all fun and game until broken hearts, dreams and portfolios happen which is the flip side of disbelief as the chart nukes as traders exit.

Ponzi-nomics & Pumpamentals

Fundamentals went out of the window after the last bull market as meme coins rely on ponzinomics & pumpamentals.

That way every good memecoin can create momentum, fomo and top buyers for exit liquidity (sorry but it’s true!)

The Golden 5

1. A cool ticker name

2. Zero tax (we all hate tax!)

3. Low liquidity

4. Locked, renounced and liquidity burnt

5. A community of twitter raiders and telegram spammers

Every successful meme coin has had these. Just look at $PEPE, it launched at sub $10,000 MC… yeah do the math on that… $10,000 to $450m

008.Eth gives a breakdown of $PEPE’s distribution and the history of Pepe dating back to 2005.

Perfect, so we’ve got the perfect recipe for the ultimate memecoin.

But how do I find the next $PEPE?!

Chances are you won’t.

As it’s all down to luck, preparation and then conviction to hodl to the moon!

Tokens like $PEPE, $SHIB, and $DOGE don’t come around every day. But what you can do to give yourself a winning chance is to track smart money wallets (check out our guide), follow the first mover momentum and find a ninja crew of apes to be a part of.

Kind of like blocmates (sorrynotsorry for the self-shill!).

Our Take

It’s a risky game trading meme coins which is why its like speed dating.

Most will be boring and rug time off you but there will be that one gem that you’ll give a chance and might just become something special.

Kinda like this wallet that secured profits and still, at the time of writing, has a $2.7m bag of $PEPE left. Well done serrrr, you have played the game very well and heres some food for thought from Nebraskan Gooner for his next exit.

PS. The initial buy-in on that whale was just 1ETH.

Just remember, to speed date meme coins like a pro, you’ll want to never get caught being a bag holder, cash in on the euphoria and leave a moonbag.

Some final thoughts from Chase.

👀 DeFi insights & project updates.
Project updates, governance reports and industry secrets.

The World of DeFi

• Binance - Introduces Sui on the Binance Launchpool where users can stake BNB and TUSD to farm $SUI tokens. (Binance)

• Blur - Blur Lending aka “Blend” has officially launched. Included in the launch is a “buy now pay later” function. (Twitter)

• Cielo Finance - An “Onchain Discovery as a Service” web app is about to go through private beta testing. Apply to be part of the first test here. (More info)

• FTX - Might be able to regain $2.1bn from Binance. (Twitter)

• Hashverse - The team teases something is happening in May. Worth keeping an eye on. (Twitter)

• Helium Mobile - Invite-only beta launches May 4th on Solana. (Twitter)

• Orange Finance - Alpha launch with their first vault is live on Arbitrum. The team is looking for a Dune Dashboard Wizard, if that’s you then get in touch via Twitter. (Twitter)

• Pepe - The biggest memecoin of 2023 breaks $500m MC, enters the top 100 and gets listed on OKX. (Twitter)

• Sparta Dex - Have partnered with one of the biggest web3 launch pads Dao Maker, more info coming shortly. (Twitter)

• SteakHut - 2.0 goes live on Avax. (Twitter)

• Sui Network - Launches mainnet on May 3rd at 12pm UTC. (Twitter)

• Umami - Join Gamma Swap and Rage Trade in Rysk Finance’s testnet trading competition with $50,000 cash prizes up for grabs. (Twitter)

Governance Updates

• Aave - Voting has begun for Aave to be deployed on Metis.(Aave forums)

• Hashflow - Is gamifying the way governance is done by releasing the Hasverse. In case you missed it Andrew Saunders, Former Arbitrum CMO has joined the team. (Twitter)

• Wen Llamas - has submitted to StakeDAO a proposal for a 100,000 SDT grant to be matched with 100,000 sdCRV raising to 500,000 sdCRV. (StakeDAO forums)

📊 Degen corner.
Charts, smart money or a degen idea.

$BTC, sell in May go away?

48 hours into May and the self-fulfilling prophecy to sell, grab your suitcase and enjoy your holidays seems to be beginning.

Bull Case - Reverse psyops kick in and Bitcoin breaks old habits, breaks back above $30,000 en route to $35,000.

Bear Case - Recover Marches green vector candle heading down towards $23,200.

🗞 In the news.
The important bits.

• Binance Labs assets reach $9bn despite the ongoing regulatory battle as Binance continues to invest but less in the US. (The Block)

• Bitcoin NFTs boost BTC transactions to record highs as Ordinal inscriptions continue to climb. (The Block)

• Coinbase opens an offshore crypto exchange based in Bermuda and will NOT be open to US traders. (CoinDesk)

• Mastercard’s “Crypto Credential” will be a new set of standards by teaming up with Solana, Polygon, Aptos Labs and Ava Labs in an effort to build trust with consumers. (The Block)

• Mastercard launches Start Path a digital assets program aimed to scale innovation by advancing blockchain technology. (Mastercard)

• “Shark Tank” for Crypto as CoinMarketCap hosts Killer Whale a TV competition for web 3 entrepreneurs with applications opening today. (Twitter)

• Balaji’s $1m Bitcoin bet might take longer than 90 days, but “symbolises collapse in full faith and credit in the U.S. financial system” he explained at Consensus 2023. (CoinDesk)

👨🏻‍💼 What the FED?!

Kicking May off with a big week from the fed as on Wednesday we hear the FOMC statement, press conference and Federal Funds Rate whilst on Thursday the ECB (European Central Bank) press conference gets underway.

🐥 Twitter reads.
In case you missed it.

@ChadCaff memecoin seasoned veteran breaks down Elons favourite bot BOB.

@_FabianHD on the other hand believes the sell-in-May narrative is already priced in.

@Ramahluwalia breaks down what happened at this year’s Consensus 2023.

And on that note, thanks for reading, catcha apes in the next edition!

blocmates team 🫡

🤝 A final word.

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