SEI Network Memecoin Guide:
1.What are SEI Memecoins?
A SEI "memecoin" refers to a type of cryptocurrency that derives its value and popularity largely from internet memes, social media trends, and community engagement rather than traditional fundamentals or technical features on the SEI network. These coins often have distinctive logos, catchy names, and vibrant online communities that create and share memes to promote the coin. The 'value' of memecoins is often driven by the attention and enthusiasm generated by their communities rather than any underlying technology or utility. While some memecoins may start as a joke or satire, they can gain significant traction and even market value if they capture the interest of a large and active user base. SEI memecoins can be highly speculative and volatile investments, and their values may be subject to rapid and unpredictable changes based on internet trends and sentiment. Investors should exercise caution and conduct thorough research before considering any investment in SEI memecoins or any cryptocurrency.
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2.Where can I find SEI Memecoins?
-https://coinhall.org/?tab=tokens&watchlist=false&timeframe=24h&sort=mcap&dir=desc -https://www.geckoterminal.com/sei-network/pools
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3.How to find QUALITY SEI Memecoins?
This is the way I personally breakdown how to find early plays in the memecoin realm.
-First, I go into either of the websites linked above, then I look for a few specific attributes for the coins themselves. One of the main ones being Total Supply & Total Circulating Supply. The reason behind this is because I want to know exactly how much capital it will take to push the asset. If the total circulating supply is at 1M as opposed to 100B, then I know that the 1M circulating supply will be easier to push as opposed to the 100B...It would take less demand/money to move the price which is a key factor to add in.
-Secondly, I would look for how many transactions and/or traders are inside of the asset we're eyeing as well. The more traders/transactions there are, the harder it is for some 'one' person/entity to 'singlehandedly' manipulate the asset being viewed. As you continue on your journey, you will start to notice what's considered a high amount vs a low amount for your specific trading style.
-Thirdly, I would check the community engagement/activity across social media platforms & evaluate the 'meme-worthiness' of the coin being released. If there is high community engagement/activity across various people directly connected in the space, then this should be a signal that there is abnormal demand for the asset being viewed...demand is key to moving price action... High demand, Low supply = Higher price movement High demand, High supply = Average price movement Low demand, Low supply = Average price movement Low demand, High supply = Lower price movement Evaluating the 'meme-worthiness' of the coin can depend on a lot of variables such as identifying its logo, name, and overall branding. Memecoins often gain traction due to humorous or relatable aspects of their brand, and even their direct connection to pop culture. Memes that are easily shareable & memorable can contribute to the coin's virality which will essentially help out the demand overall.
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-Finally, I would then look at the chart to see if there is a set-up/pattern being formed in order to efficiently continue price action in a desired direction. The technical analysis portion is it's own rabbit hole, but as a rule of thumb, if you're trying to buy to go long, you want to buy when there is an established pullback. On the inverse, if you're trying to buy to go short, then you want to buy when there is an established push up.