Everyone wants to catch the next PEPE, SHIB, or BONK. But let’s be real: most beginners get rekt chasing memes. Why? Because they repeat the same dumb mistakes over and over.
Here are the top mistakes to avoid when buying memecoins, so you don’t end up holding worthless bags while early apes cash out.
1. Buying Fake Tokens
Scammers love launching copycat contracts with almost identical names. A legit coin pumps, and within hours, dozens of fakes appear.
Example: When PEPE blew up, hundreds of fake “Pepe 2.0” and “Baby Pepe” tokens rugged buyers instantly.
👉 Always grab the official contract address from the project’s real Twitter, Telegram, or website.
2. Ignoring Liquidity
A token might look hot on Dexscreener, but if there’s only $20K in liquidity, a few big sells can nuke the chart. Low liquidity = easy rug.
👉 Rule: If liquidity looks sus, don’t ape heavy.
3. Going All-In on Hype
Beginners ape their whole stack into one meme because “this is the next SHIB.” 99% of the time, it dumps.
👉 Smart play: risk small, spread bets across multiple memes.
4. Not Checking If It’s a Honeypot
Some contracts let you buy but block you from selling. Classic rug pull.
👉 Use tools like honeypot.is before you buy anything new.
5. Buying Late After the Pump
If your Uber driver or TikTok feed is screaming about a coin, you’re already late. By then, insiders are dumping on retail.
Example: SHIB holders who bought in 2021 after Coinbase listing mostly lost money, while early DEX buyers x100’d.
6. Forgetting Gas Fees
On Ethereum, buying a $20 meme and paying $30 in gas = instant L. Beginners forget that fees eat profits.
👉 Play cheap chains like Solana, Base, or BNB if you’re on a small budget.
7. Blind Trust in Telegram Hype
Shill groups, Twitter raids, and bot comments make any meme look bullish. Most are fake communities.
👉 Real memes have organic energy (DOGE, PEPE). Fake ones spam bots 24/7.
8. Holding Too Long
Memecoins are momentum plays. Most pump hard, then dump harder. Beginners wait for x100 when they should’ve sold at x5 or x10.
👉 Always take profits. Even a 2x is a win. Don’t get greedy.
Real-World Wrecks
- Squid Game Token (2021): Pumped 75,000%, then rug pulled $3M. Buyers couldn’t sell.
- Solana rugs: In 2023, over $100M was lost to fake memes launched daily.
- Newbie trap: Copycat PEPEs rugged thousands of degens who didn’t check contracts.
Pro Tips for Surviving Memes
- Only invest what you can lose.
- Test with a small buy before going big.
- Always verify contracts.
- Take profits early and often.
- Treat memes as gambles, not investments.
Final Word
Memecoins = chaos. For every winner like PEPE or SHIB, there are thousands of rugs, honeypots, and dead charts.
Beginners lose money because they chase hype, ignore liquidity, and never take profits. Don’t be that guy.
Play small, play smart, and remember: memes are entertainment with upside. If you hit the jackpot, great. If not, at least you didn’t blow the rent money.
Wagmi 🚀
