Cryptocurrency trader Rekt Fencer has revealed his secrets to achieving incredible gains of up to 1,000 times by trading in meme coins.
His successful strategy involves a method known as ‘sniping,’ which focuses on new token launches and can be profitable for investors with limited funds.
Fencer’s approach is based on thorough pre-analysis and continuous monitoring of the market for new coin listings. He utilizes tools like DEX Screener to study emerging trends and potential factors that could impact the prices of newly launched meme coins.
According to him, the endurance of a narrative among the top gainers often signals a strong market position.
A key component of Fencer’s strategy is the use of sniper bots. These automated programs are designed to buy tokens immediately upon launch, increasing the trader’s chances of acquiring a token before its value spikes.
Fencer mentioned several bots, such as BONKbot for Solana transactions, BananaGun for Ethereum and Solana, and Unibot for EVM and potentially Solana platforms.
Each bot requires specific adjustments, and mastering their operation can be challenging but potentially lucrative.
“The longer a narrative remains among the Top Gainers, the more powerful it becomes,” Fencer noted, underscoring the significance of trending narratives in achieving substantial profits with meme coins.
However, Fencer also cautioned about the inherent risks associated with trading meme coins. The volatility of these assets, along with the high risk of scams, requires thorough research and sound risk management.
Investors are encouraged to use platforms like Rug Check and Coin Scan to verify the security of tokens. It is important to recognize that not all investments will yield expected high returns, highlighting the speculative nature of this trading approach.
On March 14, Crypto.news reported the arrest of an MEV engineer, Robert Robb, in the US, in connection to an alleged $1.2 million rug pull from at least 11 individuals.
Furthermore, on March 19, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation Team apprehended a South Korean altcoin issuer on fraud charges, accused of defrauding investors of $16.1 million.
For more information, read about Blast network’s layer 2 project falling victim to a 500 ETH rug pull.
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