# Experimenting with Meme Coins By [Meme Coins Daily](https://paragraph.com/@memecoins) ยท 2024-09-28 --- Background ---------- I've been participating in the blockchain space for quite a long time. I've not made a fortune, but I've made what many people would call "real money" - not life-changing, but many thousands. All of that has been with more mainstream currencies and a few projects for apps. For a long time, I've considered learning about creating a new meme coin. I have zero interest in rug-pulling or scamming anyone, but I would do it so I could make some real money. After thinking about it for a long time, I decided to dive in. Day Zero - Wednesday - Learning ------------------------------- I spent several hours watching videos and reading articles describing the process of creating and launching a meme coin. It seemed to me that I could do this and that it would cost me about $3,000 (for the way I wanted to do it). Before I did that, though, I wanted to participate in the speculation to see how this really worked, so I spent the rest of the day learning about how to find coins that would give me some chance of making a profit. I should note that although I had no real experience trading these kinds of coins I had spent some time looking at the charts of some of them and I have experience investing based on technical analysis. Day One - Let's Speculate ------------------------- I set up a new wallet, bought 1 SOL and started looking for coins using the tools I'd learned about. I'm not going to talk about tools or specific coins because I don't want to recommend any of them just yet. The first coin I found looked like a lot of fun, had a website/Telegram/X, was just a couple of minutes old, LP burned, etc. So I bought some. It went up about 2x so I sold half. I watched it the rest of the day and bought low and sold high a few times. While I was doing that I bought three other coins and did very similar things. The total value of my portfolio had dropped by 50% over about 12 hours. I set my computer and phone aside and got ready for bed. As I was going to bed, I checked my wallet one more time and saw that I was up almost 100% from where I started and that it was mostly from the last coin I bought (even though it had dropped a lot and was hanging at the bottom for a long time). I sold half of it and went to bed. Day Two - Here we go again -------------------------- When I first checked the next day, the value of my portfolio was about the same so I started looking for more coins. I purchased one more, it rose a bit, I sold half and stopped paying attention. At this point, I thought two of the five coins were worth my attention for a while longer - the first and last coins I picked up on the first day of trading. I just had a gut feeling about both. The first one didn't have any community around it really but I think it's worth holding. The last had a very active community and was moving at what I expected to be normal. I was bullish on $COIN\_ZERO and very bullish on $COIN\_THREE. Day Three - Still holding ------------------------- My portfolio is still about the same at about noon UTC. A couple of hours later it seems pretty clear that the rug was pulled on $COIN\_THREE Shit! The community on TG decided to not take it lying down and started a takeover and recovery. I hate to think so many people lost more money than I did, but it is nice to see people coming together to make it work. Still watching on day three. --- *Originally published on [Meme Coins Daily](https://paragraph.com/@memecoins/experimenting-with-meme-coins)*