Are Meme Coins The Future Hometown for Traders?
I've been immersing myself in this world of meme coins over the past few weeks. It was a simple idea, I'm trying to find the best investment portfolio for financial liberation, a mix of long term & short term holds.
Along this journey, I stumbled across meme coins, it seemed like the perfect playground to test my charting, technical analysis skills. A place that is almost purely charts, because there aren't really any fundamentals. I was wrong, there are a lot of fundamentals you can consider, but potentially none you have to consider, similar to some peoples view of the stock market, charts can tell the whole story for some.
Point of the matter is, meme coins have very little, or even very silly fundamentals, in fact one fundamental assumption can be, most if not all meme coins are going to zero, regardless, as meme coins can still thrive, as it piggy backs of meme culture and the middle class may forever want to say f you to the higher class, this trading asset class could exist long term, and if it does, day traders will flock here, purely because it has the highest multiple potential, and for the most part they are utilising the same trading skills they would in any other asset class, same/similar technical analysis, and unique, somewhat unnecessary fundamental analysis, maybe only a small amount of fundamental analysis is necessary just to ensure the coin cannot get rug pulled by the developers.
Financial liberation through trading & investing is seeming more & more possible, which will hopefully result in a cultural shift, where people can manage their portfolio's to ensure they are financially stable now & should still be in the future, and the job they pick will no longer be income dependent, but impact dependent.