It’s election day in the US. I voted, and I hope you do too.

In other major, market impacting news, I bought 3 degenerate meme coins this week, and I plan to keep buying more.

My price target? Infinity.

Or zero.

Just kidding. Kinda. I set take profit orders at 5x, 10x, and 25x. Now, we wait.

Why meme coins?

They’re the hottest sector in crypto today, they have great skew (insane upside on winners, limited downside on losers), and I believe there is an edge in using a disciplined approach to identifying and sizing my bets. This is crypto — follow the momentum.

In this week’s newsletter I’m going to walk you through my process. I caught WIF early (and I still own a lot 😀 ). I caught POPCAT early (and sold waaaay too early 😭). I bought BODEN early, took some profit, but ultimately held on too long (kinda like Joe himself, I suppose).

I’ve also bought many memecoins that did absolutely nothing, yet. Billy, Michi, SPX6900, there’s a few more.

But that’s ok. My losers are all small losses, and my winners are HUGE. Positive skew.

Plus, meme coins are really fun.

Market Vibes

In the trenches, hunting for generational wealth

We all have investing experience. Stocks. Bonds. Buy and hold in your 401k.

Memecoins are not this.

I strongly suggest you leave Warren Buffett and your copy of the Intelligent Investor at the door.

Memecoins are a game. They’re a ponzi. No cash flows. No spreadsheets. No financial advisors. This is gambling. Hyper gambling. Self-awareness about what we’re doing here is key.

Memecoins skyrocket because of momentum. They’re reflexive. More people will buy because more people are buying. Therefore, we need to choose our game where the hottest money is also playing. That’s why I choose to focus on the Solana ecosystem. That’s where the action is, so that’s the best place to be.

Before I get into the specifics and how-to’s, one word of warning. Memecoins are, without question, the riskiest game you can play. Do this at your own risk. This is not financial advice. These coins are all going to zero on either a short or long time frame. Do not buy and hold.

Do not gamble more than you can afford. Set a budget and don’t exceed it. These coins are so volatile and have such crazy price action — seriously, do not overdo it.

Place your bet, take your profit. Don’t be someone else’s exit liquidity.

Getting setup

The easiest way to do this is to download the Moonshot app on your phone. Links: Apple. Android.

Moonshot is fine, and it really is super easy, but they charge a lot of fees and they obfuscate what’s really happening on-chain.

To run this playbook like the degen you aspire to be, you can use a crypto wallet like Phantom. I personally use Phantom, for what it’s worth.

Getting started with Phantom takes a few more steps that are outside the scope of this newsletter (it’s already kinda long as is). If you need some help getting your wallet set up:

• How to install Phantom (I generally use the Chrome extension, but I also have the mobile app, for what its worth)

• How to fund your wallet here (Buy some SOL on an exchange like Coinbase, then send the SOL to your Phantom wallet. You need a few pennies of SOL to pay transaction fees — so always make sure you keep at least a couple bucks worth of SOL in your wallet.)

• How to use your SOL to buy meme coins here (Swap your SOL to acquire your meme coin, and then swap it back when you’re ready to take profits)

Once you have your wallet setup and funded, it’s time to find some memecoins.

Dexscreener is the easiest place to hunt

I really like dexscreener.com. They provide data around all the newest memecoins across chains and give you easy tools to filter your targets. It’s up-to-date, easy to use, and trustworthy.

I don’t recommend gambling on launchpads like pump.fun. The sheer volume of new coins launched everyday ruin your odds. You don’t want to bet on a needle in a haystack. You want to shoot fish in a barrell.

A good first filter for Dexscreener

Here’s a click by click guide to setup my base filters. There’s an image included at the end of this section to help guide you as well.

1. Navigate to dexscreener.com

2. Click "Solana" in the left-hand navigation

3. Look for the "Filter" button in the top right

4. In the filter window that opens, enter these parameters:

   • Market Cap: Min 2.5M to Max 20M

   • Liquidity: Minimum 250K

   • Pair Age: 4,320 hours (equivalent to 6 months)

Why These Filters?

There’s nothing magical about them, I’ve just found them to be a solid first step to narrow down the thousands of tokens down to less than 100 tradeable choices. These will also reduce the risk of rug pulls, dead projects, and scams.

Next, we’ll drill down and analyze what Mr. Market is offering us today.

How to Analyze the Results

After applying filters, here's what to look for:

1. Market Cap Review

I start by sorting the MCAP column to get a feel for the coins in the filter. I scan for any familiar memes, jokes, or cultural references I’ve seen on twitter or elsewhere.

You may be thinking — Is $20 million too high? Don’t I need to find the uber-micro-nano caps to get the big gains?

Remember: Bitcoin has a market cap of $1.4 trillion. DOGE peaked at nearly $100 billion last cycle. A $20 million market cap coin is tiny in this space. If your coin goes from $20 million to $1 billion, that’s a 50x return. Good luck finding that outcome in the S&P.

The expected value of these gambles is the probability that your coin moons multiplied by the value if it does moon. Therefore, we want reasonably good probabilities with maximum upside.

By filtering to these market cap levels and avoiding the carnage of the nano-caps, we can focus on coins with much better probabilities of going super-saiyan, while still maintaining that 50-100x upside.

Let these coins fight and claw and suffer their way through the carnage of pump.fun before you put your hard earned money into them. Only the strong survive!

2. Liquidity

Next, take a look at liquidity. Think about liquidity as the supply in the market. That’s not exactly true, but close enough to make the point.

The more liquidity, the more comfortable you can feel. Liquidity means better prices, lower transcation costs, and less risk of getting dumped on.

Liquidity and price have a non-linear relationship. If a coin has low liquidity, a small amount of selling can crush the price. This is why you see massive, 75% dumps in just a few minutes with many of these coins. The liquidity is super low, someone sold too much at once, and they killed the price.

Liquidity signals both momentum and gives you a path to sell if you catch a heater.

Reference the liquidity across the tokens in your filter. Sort by that column. You’ll quickly get a feel for what is average, what’s better, and what’s worse.

3. Transaction Count

Transaction counts are a great way to assess current momentum in these coins. You’re aiming for healthy, consistent (preferably growing) activity. More transactions, in general, is a very good sign.

If a coin has significantly lower daily transactions that others with similar market cap…red flag. That coin may be ded — the hot money moved on.

On the flip side, if you see a coin with an astronomical number of transactions compared to others of similar market cap and liquidity — that’s another potential red flag. Those transactions are probably bots, could be wash trading, or could be legitimate for some specific reason. You just don’t know, so I recommend being suspicious unless proven otherwise.

4. Check Twitter

This final check isn’t quantitative. It’s vibes.

Does the twitter account have a lot of engagement? Is that engagement bots?

Are there lots of accounts posting memes, or just the core team or official account?

Who’s talking about the coin? Are there big influencer accounts pushing it? Be wary of influencers - they’re usually paid for shilling coins (especially the small caps).

The real secret, as best as I have been able to tell, is to put yourself in the shoes of the average crypto degenerate hyper-gambling user. Is the meme funny to them? If yes, could be a bet worth taking.

This game isn’t about you. It’s about the thousands of permanently online risk-maximizers your playing against. If you can figure out their meta, you can win big in meme coins.

Buying Using Phantom Wallet

You’ve found a coin you like — now what?

It’s time to buy! I always start small, only wagering a small amount of capital. Any amount is fine, and less is more in many cases. If you have some success, you can increase your bet sizing over time.

But seriously, if you’re going to do this, start small. Most of these bets will go to zero. That’s ok. We want to lose most of the bets we take, but when we win those winners should be profitable enough to make up for all the losers and a whole lot more.

I can’t emphasize this enough — most of these coins are going to zero fast. You will lose money.

With that out of the way, here’s how I buy and sell these coins using my Phantom wallet.

1. Open your Phantom Wallet extension by clicking it in your web browser

2. Click the center button with two circling arrows. That’s the swap icon—the gateway to meme coin glory.

3. In the “You Pay” box:

• Select Solana (SOL) as your payment currency (or whatever the token is you want to sell in exchange for your new memecoin).

• Enter the amount you want to swap. You can toggle between viewing the amount in SOL or USD. USD is probably easier from a sizing perspective since your brain probably already works in USD terms.

In the example above, I selected to sell my FIJI virtual bot coins to load up on more CLANKER.

4. In the “You Receive” box:

• Search for your chosen meme token.

• IMPORTANT: Verify the token address. Copy it directly from Dexscreener’s right sidebar (it’ll look something like “exa53…BJE”). With memecoins, there are oftentimes duplicates. Make sure you’re buying the one you mean to, and the token address is the only way to be certain.

Confirm the details and smash that swap button. You’ll receive a confirmation notification once the transaction is complete, typically within a second or two.

Congratulations, you’re now a degenerate meme coin investooooor.

Take-Profit like a pro with Jupiter

With dreams of lambos now dancing in your head, now’s the time to plan for the exit. Profit-taking is the hardest part. It sounds stupid, but it’s the truth. Meme coins are all going to zero. You have to sell. Ignore your emotions. Take profits.

You won’t understand what I mean until you’ve got your hands on a 10x’er. It’s HARD to sell. Greed is powerful. So don’t fight it. Instead, plan your sells up front when you aren’t emotional about it.

Here’s a simple approach I’ve used with success:

1. Go to jup.ag. Jupiter is an exchange on Solana where you can trade with more advanced order types than through your Phantom wallet. We’ll use it to create some limit orders.

2. Click “Connect Wallet” in the top right corner and click approve to in your Phantom Wallet to access Jupiter’s functionality.

3. Under the “Spot” tab, select “Limit.” This allows you to set specific price targets for selling.

4. Set up your orders:

Sell: Choose your meme token. In the example above I’ve selected CLANKER.

Buy: Opt for USDC (a stablecoin) or SOL if you prefer. I generally consolidate my meme coins back to SOL when I sell.

Sell TOKEN at Price: Input your desired selling price here. If you bought at $1, then set your first take profit at $2 or $5. Etc.

Set multiple limit orders. We want to take profit multiple times on the way up.

1. Set your first order to sell a portion (maybe half? 25% at least) at 5x. I’m considering lowering my baseline first take-profit to 2x. I’m finding that you can scalp the volatility pretty consistently with 2x’s. Your mileage may vary.

2. Sell another half (or more) at 10x. Now we’re talking.

3. I always let some amount ride. Set this final take-profit limit order to sell your coin at 25 or 50x.

By staggering your sell orders, you lock in gains while still keeping skin in the game for the huge wins.

Remember, bulls make money, bears make money, pigs get slaughtered. Don’t be the pig.

Good luck and be careful. If you find any meme coins you like, send me an email. I’ll ape in with you and we can ride together.

Portfolio Update

I bought memecoins this week. $PNUT $CLANKER and $RZLR

Crypto Market Cockpit