𝙏𝙃𝙀 𝘼𝙉𝙏𝙃𝙊𝙉

Web3 101 — Day 14 I know it's been a while. Been busy with school stuff. Anyways, today's Day 14 and our topic is: Memecoins: The Wild West of Web3 😂 But first, what are memecoins? Well, memecoins are a type of cryptocurrency created around memes, internet culture, jokes, communities or trending narratives. Unlike traditional crypto projects, most memecoins don't have any real utility or underlying product. Their value is largely driven by hype, speculation, community and market demand. They're one of the best ways to get rich fast and also go back to the village even faster in this space. 😂 To trade them, you generally need a wallet like @phantom and a DEX (Decentralized Exchange). You can also use platforms like @dexscreener to discover tokens, check their charts and analyse their trading activity. But recently, there's been a wave of new apps making the whole process much easier, like @fomo and @pumpfun. Well, let me give you a little walkthrough on how to buy and sell memecoins. First: Download @fomo from the Play Store or Apple App Store. Secondly: Create your account, set up your wallet and fund it with some solana:So11111111111111111111111111111111111111112. Thirdly: Find a memecoin you want to trade. You can paste its contract address (CA) or discover tokens and follow the trades of other traders on the app. Finally: Do your research, check the token and, if you're comfortable with the risks, execute your buy or sell. None of these are financial advice. 😂 Because remember, you can go back to your small little village in the twinkle of half an eye. 😂 Anyways, where did memecoins originate from? The story goes back to 2013 when two software engineers, Billy Markus and Jackson Palmer, created Dogecoin ($DOGE) as a joke based on the popular Doge meme featuring a Shiba Inu dog. What started as an internet joke eventually grew into one of the biggest cryptocurrencies by market capitalisation. And that's basically how the memecoin culture started gaining attention. Today, thousands of memecoins are created every day, especially on Solana. Platforms like @pumpfun have made it incredibly easy for almost anyone to launch a token without needing to know how to code. However, most of these tokens never gain significant traction, and many lose almost all their value. So always DYOR (Do Your Own Research). A few things to know and check before buying memecoins: 1. Market Cap (Mcap) - This is the estimated total market value of a cryptocurrency. It's calculated by multiplying the current token price by its circulating supply. For example, if a token has 1 billion circulating tokens and each token is worth $0.001, its market cap is $1 million. 2. Liquidity - This is the amount of funds available in a trading pool to facilitate buying and selling. Low liquidity means you might struggle to sell your tokens at the price you expect. Always check the liquidity before buying. 3. Total Supply - This is the total number of tokens that exist or are intended to exist. A token having billions or trillions of supply doesn't automatically make it cheap. What matters is its price relative to its supply and market cap. 4. Trading Volume - This shows how much of the token has been bought and sold within a particular period. A token with very low trading volume may have little market activity, making it difficult to enter or exit a position. 5. Holder Distribution - Check how the tokens are distributed among holders. If a few wallets control a huge percentage of the supply, they could potentially dump their tokens and cause the price to crash. 6. Token Age and Contract Address (CA) - Always verify the contract address before buying. Scammers often create fake tokens with similar names and tickers. Also check for suspicious token permissions and whether the creator or other wallets have unusual control over the supply. 7. Community and Narrative - What's driving the token? Is there an active community? Is the narrative gaining attention? Are people genuinely interested or is it just a few accounts creating artificial hype? Remember, hype can disappear as quickly as it comes. Anyways, hope that the next time you see a ticker like $MAXIN 🌚 flying around, you'll know what to check before jumping in and how to buy it. And please, don't use your school fees or money you can't afford to lose to trade memecoins. Some of these things are genuinely unpredictable. Anyways, see y'all tomorrow. Same time, same place. So turn on those notifs 🔔 Also If you want more web3 educational Contents like this? You can register on the @web3eduofficial waitlist below 👇 web3edu.name.ng

What if your NFT could do more than just sit in your wallet or serve as your profile picture? That's an interesting idea behind what @meetmotes is building Each Motes NFT is designed to be connected to its own AI agent and smart account on Robinhood Chain. The NFT represents the agent's identity, the smart account holds its funds and enforces its rules, while the AI handles the research and proposes actions. Basically, your NFT becomes more than something you own. It becomes the identity of an AI agent that can carry out financial tasks within limits you set. I think this is an interesting direction for NFTs.