Solana memecoin/low cap bets: April 2024 edition
If you've been following me you'll know I love a risky bet.
It's what the crypto space has in abundance and I'm of the firm opinion you're mad if you're not chancing your hand with a smaller part of your portfolio. There are opportunities for retail users like us in an immature market like this that will not be around when crypto becomes more mainstream.
But always remember:
- Don't bet what you aren't comfortable with losing
- DYOR isn't a meme, it's a way of thinking and acting https://www.bulbapp.io/p/66493da5-2a15-499c-8324-7158d593c725/advanced-defi-its-easier-than-it-sounds?s_id=c2ada3cc-5e71-4f54-abb9-843337806f21
Now with that intro out of the way let me explain some of the wilder bets I'm making at the moment.
I've broken them into two sections:
- Low cap project with utility
- Memecoins
Low cap projects with utility
$MYRO: A SocialFi driven memecoin
TG https://t.me/myroSOL
X https://twitter.com/myrosol
Web http://myrothedog.com/
You could be forgiven for thinking $MYRO is a memecoin and it does have a number of the meme-like qualities. Not least of all the price chart.
But it's project that has a delivered already, see my previous post about their TG Buy and Trending Bots (and for some background on $MYRO itself)
https://www.bulbapp.io/p/5c4ef4b4-8788-4e9e-8f51-2e22e07e29cb/solana-buy-bot-myros-first-project?s_id=0702252a-386f-4a6f-a37d-196653dc8c9e
Now we've finally seen the launch of their much anticipated social media play: Cipher
X https://twitter.com/CipherSO
Web https://cipher.so/
In a nutshell it's like Instagram except all the images are cNFTs which are able to be traded on the app
And the kicker is a large percentage of the sale goes to the likers. So people are incentivised to find and engage with content. It's really smart as engagement from the audience is the only thing that scales social media plays.
Will it work? Who knows. Social media is very hard.
It's also incredibly lucrative if you can get it to work. A pretty poor UX didn't stop Friend.Tech from becoming a multi-million dollar protocol. And even now the hype has died down it remains a considerable presence over on Base.
Solarplex is a similar idea to Cipher and it's seen decent traction despite still being a beta (see invite link at the end of the article).
I like to think Myro is giving Cipher every chance of success. A full suite of mobile apps are due out soon and that's exactly where the vast majority of users will interact with it if it is to succeed.
$GUAC: Pump.fun, but better
Web https://guacamole.gg/
X https://twitter.com/guac_gg
TG https://t.me/guacgg
Discord https://discord.gg/MjdtaGXCVY
If you think memecoins are going away; you're wrong. They are crypto native and they are definitely here to stay. People like them and it's for more than just gambling. If it was just gambling then we'd see a lot more usage of the existing on chain gambling protocols but we don't.
Buying a memecoin means you own part of the project, of the community. It's tangible membership in a way that so many internet community memberships aren't tangible. That you can also potentially make money from them just supercharges the interest, not creates it.
We are only at the start of the infrastructure to support memecoins.
Understand Pump.Fun to understand the opportunity
Any service which helps standardise token creation and management, much like services like WordPress and Facebook helped standardise content on the web, is poised to do very well.
Pump.fun is a platform that allows users to create and launch their own memecoins1. It caters specifically to the memecoin crowd2 and has carved out a unique space in the crypto landscape2. The platform markets itself on the ability to “launch a coin that is instantly tradeable without having to seed liquidity”.
The process of launching a new coin on Pump.fun is quite simple. Users just need to click “Start a new coin” and input a name, ticker, description, and imagery for branding, with a deployment cost of 0.02 SOL, or $3.50 at current prices.
Once the token goes live, it is launched along a bonding curve on the Pump.Fun platform that anyone can buy or sell into.
Despite congestion issues on the Solana network, Pump.Fun has been bringing in between $200,000 to $500,000 in fees every day for the last two weeks1. This simplicity has made it a viable option for casual participants launching a token for fun, or for influencers that may not want to hire or trust a development team.
Guacamole is, IMO, a better version of Pump.fun.
More than hodling
A bunch of staking options for $GUAC will launch soon https://www.guacamole.gg/earn/guac-staking
If you have some $GUAC, you might want to pick up an $AVO token or two https://docs.guacamole.gg/guacamole-guac/the-usdavo-token
They can't be split, so don't overpay for them
https://app.meteora.ag/pools/GGgbt19HRrmZeUnvzxhz1dWpbjUYQoExTWKGEBMmRqU7
NOTE: $AVO MAY not show up in your wallet, go https://solana.fm/ to confirm it's there.
You might also want to get some Avotar NFTs from Tensor https://www.tensor.trade/trade/avotar
They are shaping up to be an integral part of the Guacamole ecosystem https://docs.guacamole.gg/guacamole-guac/guacamole-avotars
UPDATE
I've sold out of my Guacamole positions mostly (still got to move some NFTs and my 1 AVO) as of 3/6/24. I had been using their tooling and found it be pretty buggy and when I'd reached out to them for support I've heard nothing. That's a really bad sign so I'm taking that as data and exiting.
Still think they're building products people want and will use (as opposed to most defi) but it's all about delivery in the end. You never know. Projects go through ups and downs...
$KARMA: As wild as a project gets
Battle Royale style gambling games via a Telegram Bot.
If you're still here you might really like this one, but it's risky AF.
TG https://t.me/karma_portal
Web https://www.karmawillgetyou.com/
X https://twitter.com/karma_on_x
The MC here is tiny. Like under 10K. The volume sucks. This has all the hallmarks of a dead token.
But enough with the shilling! What about the project itself?
This team is trying. I've used the bot in one of their partner implementations as well as on their own TG and it works. It's simple and fun. If you start to get some volume of people playing it it is really hectic fun.
It's just they haven't yet had any of their partnerships really hit. And they've tried a few.
For the right project it would add a lot of value to the community and act as a steady stream of revenue.
Any issues I've had the team were always very responsive and were able to get them fixed.
Here's what they've done so far as goes bot integrations.
$WOLFY
Is pretty much dead as goes the project and the bot
TG https://t.me/wolfysol
TG Bot @WolfyKarmaBot
$SOL aka SonicObamaLockheedMartin69inu
This is where I first used the bot. It's still active here but the project is pretty dead. I and a couple of mates were only ever the ones playing it.
TG http://t.me/tickersol
TG bot @SonicObamaRoyaleBot
NutzRoyale / squirrelwifsmoke
This is one where the project itself never launched. The bot they made for them, @NutzRoyale, still exists on TG but it's non-functional. And the project website now doesn't exist https://squirrelwifsmoke.com
Unfortunately when you're working with external partners in this industry (crypto) this does happen from time to time
$CRUNCH
Bot is not longer active on this project.
TG https://t.me/Crunchcatsol
The Karma TG itself is very quiet. Supposedly there will be an announcement about a new project end of this month (April).
Obviously it's good to have seen them keep trying, but nothing has worked so there's a higher and higher risk, with every failed partnership, that this idea is never going to catch on.
I like the bot. It needs to be integrated well and needs some more playing features, but I think it's got a chance.
It's not a big chance though. Approach with extreme caution as goes any token buys.
$BULB: A good product undervalued
If you're a Bulb regular I don't need to tell you why $BULB is undervalued, you know.
X https://twitter.com/bulbappio
Web (you're on it) 
If you're not, then read the following
https://www.bulbapp.io/p/a278124c-416e-4fc8-8606-1b7717e84f69/10-reasons-to-buy-and-hold-your-bulb-tokens?s_id=39238afb-e4bb-48a4-a0f7-f472371712e3
Then read through the @BULB Official blog here to see all the features the team have added and review their X (see above) for even more alpha as goes upcoming features.
Even just scroll though my profile here on Bulb to see the multiple articles I've written about Bulb.
It's a good platform with good features, that people actually use.
Staking your $BULB is a great way to hold a position too.
https://www.bulbapp.io/p/23e08bb1-221f-4f7b-b4d3-02e257d9d7c5/bulbapp-the-stake-to-earn-model?s_id=fbeab798-a7e8-4233-9b2a-0521a7788832
Memecoins
Okay memecoin time. The caveat here is I only get interested in these things when they're interesting to me, and not because I have any insights into price.
$SLERF bores the hell outta me.
So does $POPCAT.
Both pumped massively.
$CWIF and $BONK were huge wins I wrote about on Bulb.
$RIB and $LFG were massively failures I also wrote about on Bulb.
So I'm hardly an oracle. Take the following with a large handful of salt.
$LSP: The DRiP community token
This is a token created by DRiP artist https://drip.haus/wetiko, via their Guides project https://twitter.com/GuidesPFP
TG https://t.me/+JGnhkB1ZVKdjMTkx
X https://twitter.com/LamboSpaceP
Web https://linktr.ee/lambospaceprincess
The meme side is pretty average, after all it's Lambo Space Princess. Mostly rehashed stuff.
BUT It's from a DRiP creator so the art is lovely
AND it's being promoted by DRiP via a donation giveaway.
The promotion is very interesting to me.
I think DRiP is a very underrated marketing and distribution platform outside of NFTs.
If you can get the right creator/s matched with right products, I think it's a massive home run.
Kinda like podcasts were when they first started. Huge ROI if you got the combination right. Still are but the rest of the market has cottoned on now so the ROI isn't as crazy as it once was.
Currently you can stake $LSP on a Meteora farm and there's extra $LSP rewards
https://app.meteora.ag/farms/LSP-USDC
Over to you
What do you think are some hidden gems/wild bets on Solana right now?
What you rolling the dice with?
Let me know in the comments.
Stay safe degens.
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