Memecoins have gained significant popularity recently, particularly during the US elections and the bullish market.
Memecoins refer to cryptocurrencies that are inspired by internet memes or trends; they typically aim to be humorous or serve as a nod to a social event or a person. Memecoins are often characterized by their volatility, requiring traders to exercise caution when trading memecoins.
Many individuals have successfully profited from memecoins, which can be purchased for as little as $1, only to surge approximately $1000 during an event known as a "pump." A pump is characterized by a sudden price spike in the token, resulting in an increase in its value. However, it is important to note that the price can also plummet significantly, a phenomenon referred to as a "dump."
Pros of Trading Memecoins
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High Potential Returns: Rapid price surges can generate significant profits.
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Low Entry Barriers: Often cheap, allowing small-scale investments.
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Community-driven: Strong online communities can drive demand and visibility.
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Speculation Opportunities: Volatility creates chances for short-term gains.
Cons of Trading Memecoins
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High Risk: Extreme volatility can lead to substantial losses.
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Lack of Fundamentals: Prices often lack real-world utility or backing.
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Market Manipulation: Vulnerable to pump-and-dump schemes, and rug pulls where developers abandon the project.
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Regulatory Risks: Increased scrutiny and potential bans in some regions.
Right, now that we all know what memecoins are and the risks involved, I can now show you how to create one using ApeStore especially if you want it to be on the Base Blockchain.
What is ApeStore?
ApeStore is a launchpad that allows you to launch and trade a token instantly without providing liquidity. It prevents rug pulls and pump/dump schemes, so it's completely safe for users. It is also built on the Base and Ethereum Blockchains which makes it easy and cost effective for users to create and sell tokens in the launchpad.
How to Create Tokens on ApeStore
- Head to the website at www.ape.store. Make sure your wallet is connected and that you have enough ETH for gas fees.
The homepage displays numerous tokens created by various developers, some of which are already gaining traction. It is important to note that when a sufficient number of people purchase, and the market cap reaches $69,000, $12,000 of the liquidity is subsequently deposited on Uniswap and then burned. Additionally, there are rewards for tokens that are showcased on Uniswap, possess the highest market cap, or achieve a market cap of $1 million. Therefore, there are many incentives to launch your token with ApeStore, particularly if you wish for it to be on the Base Blockchain.
2. Click on "Create Token" located on the side of the dashboard. However, before proceeding, please ensure that your wallet is connected to the website and that you have selected the desired blockchain to use.
3. On the "Create Token" page, input the necessary information required for your coin. It is also advisable to create a Telegram channel for your token, as this will enhance its legitimacy in the eyes of potential buyers.
4. Deploy your tokens after paying the gas fees; however, it is advisable for you to retain some of your coins as the developer, as this will encourage others to invest in your coin when they observe that the developer is holding a portion.
Below is a token that I created earlier before making this post
There are several other launchpads available for creating tokens. For instance, Pump.fun is immensely popular for creating memecoins on the Solana Blockchain at no cost, while Moonshot by Dexscreener is another excellent option that supports both Base and Solana Blockchains for creating memecoins. Ultimately, it is a matter of personal preference, and whichever option you select will assist you in realizing your memecoin aspirations.
Check out the video below on how to create tokens on ApeStore
Cheers and Have a Based day.