Welcome back to my weekly memecoin update!
This time, I’ve got a story packed with emotions. An incredible week of scams, questionable choices, and a few personal victories.
Spoiler alert: **I got scammed.**Not a quick scam that caught me off guard—no, this was one of those situations where you know you’re about to trip, and for some reason, you just do it anyway. To make it more tragicomic, I didn’t even manage to screenshot the incriminating chat: the joker disappeared before I could save anything. But don’t worry; I’ve got enough details to tell you the whole tale.
Before diving into the scam details, I want to make one thing clear: I’m satisfied with this week. Results aside. For two reasons:
My mindset proved stronger than I thought. The trades, the scam, the mistakes—I’m still here, motivated and ready to go.
I’ve realized that trading opportunities never truly end. For every door slammed in your face (or rugpull), there’s always another waiting to be opened.
If you’re here to learn something—or just to satisfy your curiosity—remember: I’m not here to promote memecoin trading. I just want to leave a real, raw, and unfiltered diary for anyone who might one day venture into this space. Hopefully, it will be helpful or at least entertaining.
A Chronicle of an Inevitable Rip-Off
During a trade last week, someone reached out to me on Telegram. A guy (or a girl—who knows) interested in my trading experience. After some light chit-chat about goals and strategies, the proposal came: let’s make money together, because it’s harder to do it alone. And me? I fell for it.
Here’s my mistake, let me underline it: I exposed my Achilles’ heel—a weakness I already knew about—companionship in this sector.
I admit that in the Web3 space, I’ve never found real "trading friends" or even "semi-degens" like me, and this played to their advantage.
A few days later, they messaged me saying that their whale friends were about to jump into a project with big-name VCs and a likely listing on major CEXs. They sent me the contract address (CA), and, like a fool, I fell for it again. I knew it smelled like a scam, but I convinced myself I could outsmart them.
Spoiler: I couldn’t.
Here’s how the scammer nailed it:
**Social Engineering:**They pretended to be friendly, looking for new “friends” because, and I quote, “the more of us there are, the more likely we are to share valuable information.” And that’s how they exploited my weakness.
**A Suspicious Contract:**When I checked the contract on Arbiscan, I found four identical copies, all rug-pulled. Moreover, the contract was closed and not visible. My reaction? Full steam ahead!
**The Initial Approach:**Looking back, I asked myself: how could an expert with whale friends and a thriving career in the sector ask me about memecoins? And why were they so interested in my level of experience? Obviously, they were figuring out how to break through my defenses. They even made a rookie mistake, asking me for predictions about the memecoin where we’d “met”—anyone with a shred of knowledge knows memecoin predictions are pure fantasy.
I jumped in, and within minutes (maybe seconds), my capital had grown by 200%. I decided to sell to secure at least my initial investment, but there was a problem: I couldn’t sell.
There it was—the scam. So simple, yet I hadn’t considered it. It was a honeypot, a "buy-only" token. I thought they were banking on my greed, convincing me of a potential x20 only to cash out at x10. But no—their plan was much simpler and more foolproof.
I sent a screenshot to the guy, and he reassured me: *“Don’t worry, it’s high volumes; maybe a chain issue. Try with a smaller amount.”*So, I started testing with the highest amount from the smallest possible increments. I sold a tiny portion ($60-70), and it worked. I tried cashing out everything again, but once more, the platform blocked the operation, preventing me from triggering the contract function. I scaled down further and managed to recover another $400.
The result? I lost about $420 but recovered $470. The rest? No idea—it’s still sitting in a wallet with a countervalue of $110,000. I later saw that the contract had a liquidity pool (LP) drain function, so without showing on the chart, it was slowly rug-pulling people.
Before the joker disappeared, I left them a sharp message:
"Congrats, my friend! Luckily, the damage you caused won’t change my life, and I sincerely hope you need those stolen funds for medicine or food. Because living a life chasing money by stealing from others is just sad and meaningless. May God have mercy on your soul when the time comes, because karma will find you—and you’ll need it.”
A few minutes later: puff! Gone. Chat deleted, and complete silence. Maybe my last message, where I showed them wallet addresses, contracts, and traced funds I reported to major CEXs for freezing, scared them for a moment.
And with that, the scam officially ended. Those $400 weren’t lost—they were donated.
Scam aside, that’s what we’re here for, right? This week was a roller coaster, with moments of pure euphoria (happy 100k, everyone!) and others of… let’s say… questionable decisions. Mine, of course.
I entered a trade, doubled my investment, and decided to exit. So far, so good. But then the chart dropped and hit a nice support level. And what did I do? Re-entered with the profit I’d just cashed out.
**Result?**The support broke, and goodbye, entire profit. Well done, genius.
But you know what? It was the most valuable lesson of the week. More on that later.
I spotted my setup, entered, made +70%, sold, and walked away with a clean +67% net.
**Yay.**Clean, respectable, no regrets.
Out of my last 11 trades, 6 have been successful. Not bad, right? Of course, I ruined it with the 12th—but we’ll get to that.
That evening, I geared up and jumped back into the markets. Found an interesting ticker, entered, but it started moving sideways. A mini dip convinced me to reinforce my position and set a stop loss at -50%.
**Result?**Nada. The chart crashed, and I walked away with a solid -55%. End of story.
I found another promising coin, verified the setup, and entered. This one started dropping, but this time, I didn’t reinforce. I just observed.
The volumes were good, the holders stable, and the candles short and steady. It dropped to -40%, and I decided my limit was -50%, but I didn’t set an automatic limit order.
Instead… slowly, the coin regained ground. It climbed steadily. At +10%, something told me, *“Get out.”*I sold and closed with a modest +9%. Nothing spectacular, but here’s the key part: I didn’t re-enter.
So, what happened next?
After I sold, the coin skyrocketed beyond 3x.
Six hours earlier, I would’ve jumped back in “to see how it goes.” But I didn’t. My mindset has changed. I controlled my emotions and listened to my instincts—not greed.
You might think: What a loser. No, not really. That’s the most crucial part of trading memecoins. You need focus, awareness, and above all, discipline to stick to your setups and convictions. It’s a game of luck, gut feeling, and speed.
Tomorrow, I’ll start again with a clearer head and a few more scars. Every week is an adventure, and every mistake is a step toward growth. Thanks for following along—see you in the next diary! 🚀
