How to Get in on Memecoin Early with Pintu Web3 Wallet

Reading Time: 6 minutes

Have you heard about the crypto trader who earned $8.9 million in under an hour by trading a single memecoin? Stories like this become common during bullish periods. Memecoins experience sudden surges in both popularity and value, presenting significant profit opportunities for early adopters. But how can you distinguish promising newly launched memecoins? In this article, we’ll explain the steps in buying memecoins using Pintu Web3 Wallet and explore what to consider before making your purchase.

Article Summary

🐸 Memecoin emerged as the most lucrative crypto narrative in early 2024, witnessing substantial surges in price, trading volume, and investor enthusiasm.
🤑 The highest average profit from trading memecoins reached 1,312.6%! It shows how much attention memecoins are getting in the market.
💸 You can buy memecoins, especially newly launched ones, using Pintu Web3 Wallet on DEX.
📊 Before you buy memecoins, keep an eye on various factors, including on-chain activity. You can track this using platforms like Birdeye, DEXTools, and DEXScreener.

State of the Memecoin in 2024

CoinGecko’s report reveals that memecoin claimed the throne as the most profitable crypto narrative in early 2024. The period from January to March saw a meteoric rise in memecoin prices, trading volumes, and investor interest.

Memecoins that emerged in March even made it into the top 10 memecoin category by market cap. They are Book of Memes (BOME), Brett, and Cat in a Dogs World (MEW). These memecoins managed to compete with PEPE, DOGE, SHIB, and other big memecoins.

The report also highlighted that the highest average profit from trading memecoins reached an incredible 1,312.6%! This remarkable profitability has captured the crypto community’s attention, drawing focus to these ‘fun’ coins. Moreover, the significant transactions associated with memecoins might fuel a surge in blockchain activity.

Memecoins have increased on various blockchains that offer fast and cheap transactions, such as Solana, Base, Avalanche, and others. Solana even experienced network congestion due to the large number of transactions per second contributed by memecoin transactions.

As of April 23, 2024, the total market cap of memecoins hit $53 billion! It surpassed other categories like Layer 2 ($23.9 billion), DePIN ($36.4 billion), AI ($38.6 billion), and RWA ($45 billion), which typically involve fundamental value and serious company funding.

The recent surge in memecoin popularity has propelled the term ‘memecoin’ to the top of Google searches. It signals a huge increase in public interest. More and more people are looking to understand or invest in memecoin, giving additional boost to the growth of the memecoin price.

Why Are People Buying Memecoins?

meme coins memecoins — Source: X NFT & Crypto Memes

Memecoin was originally created as a satire token against complex and serious cryptocurrencies. DOGE was one of the pioneers of memecoins, with a cute dog icon at the time. Today, meme coins have become popular assets because of their potential to generate high returns.

In addition, many people buy memecoins for speculative reasons. They see a trend and growing popularity around a particular memecoin, as is often seen on social media, and hope to take advantage of a price spike.

When people see others profiting from a particular memecoin, it’s common to get a sense of FOMO (fear of missing out). It triggers a person to participate in buying memecoins to seize the same opportunity and avoid being left out.

Memecoins you bought turn out to give profit hundreds of percent! It makes you eager to trade with other memecoins. Trading memecoins isn’t always profitable, and many traders have lost big. However, it can be fun to buy meme coins if you find a meme coin theme you like, such as cat, dog, cactus, turtle, and more. Therefore, buying memecoins is not only gambling in search of profit, but also for entertainment and fun.

How to Buy Memecoins Using Pintu Web3 Wallet

In this guide, we’ll walk you through the process of buying memecoins, especially newly launched ones, utilizing a Web3 wallet and accessing a decentralized exchange (DEX). With the Pintu app, you can leverage the Pintu Web3 Wallet for purchasing memecoins through a DEX.

You can also connect to platforms that provide complete data and tools for trading memecoins, such as DEXTools, Birdeye, DEXScreener, and others. Here is the steps in buy memecoins using Pintu Web3 Wallet on Birdeye by following these steps:

Open the Birdeye.so web, then click ‘Web3 Log in’. Select a blockchain network, such as Base, and connect to the Pintu Web3 Wallet via ‘WalletConnect’.

On the line ‘All Chains’, select Base. Birdeye instantly displays a list of tokens available on the Base network. If you have yet to decide what memecoins to buy, you can click ‘Find Gems’ to see a list of memecoins that have the potential to make a profit.
You can select the ‘Most Viewed’, ‘Most Watched’ or ‘Most Trades’ categories. From the list below, you can see that NORMIE has good data in terms of TVL and trading volume in 24 hours. You can directly click on the token to buy NORMIE.

To see more information about NORMIE token, look at the chart, Birdeye Score, community sentiment, and security assessment on the left side of the chart.
Looking at the chart, NORMIE shows an uptrend within the 5-minute timeframe. Furthermore, NORMIE boasts a Total Value Locked (TVL) of $2.7 million alongside a trading volume of $3 million. These numbers are considered attractive for a memecoin, plus an almost perfect Birdeye score of 95. Birdeye score is an overall rating of the performance and security of a token.

If you want to buy NORMIE, you can swap your assets to NORMIE on the right side of the chart.
If you have ETH, enter ETH in the top column and NORMIE in the bottom column of the Swap feature. It means you will swap a certain amount of ETH for NORMIE.
Enter the amount you want to swap, then confirm the transaction on the Pintu Web3 Wallet. Ensure you are on the Pintu Web3 Wallet home page to confirm the transaction.

Transaction failures are frequently linked to price fluctuations. Therefore, continue trying until you succeed. If failures persist, manually adjust the Slippage between 0.5% and 1%.

Upon successfully swapping or purchasing NORMIE, the token will automatically appear in the token list within the Pintu Web3 Wallet. In case it doesn’t, you can manually add the token by following the provided steps.

How to Sell Memecoins Using Pintu Web3 Wallet

If the memecoin you bought (NORMIE) is profitable enough and you want to sell some or all of the tokens, you can do the following:

Open Birdeye, then log in with Pintu Web3 Wallet.
Select the Base network, then search for NORMIE-Normie in the search field.
Swap Normie to the crypto asset of your choice. Set NORMIE in the top column and ETH or USDC in the bottom column.
Click Swap, then confirm the transaction on the Pintu Web3 Wallet.

Conclusion

Buying memecoins sometimes doesn’t require fundamental analysis because almost all of the memecoins are created just for fun and as a quick profit-making asset. However, you should also remember that memecoins come with much risk. Memecoins are highly volatile, and prices can change drastically in a few minutes.

To assess a memecoin, especially from on-chain activity data, you can use platforms like Birdeye, DEXTools, or DEXScreener. These platforms provide memecoin data and scores that make it easier for you to trade memecoins using Pintu Web3 Wallet.

Pintu Web3 Wallet on Pintu App

Pintu has recently launched its Web3 Wallet, seamlessly integrated within the Pintu app. This wallet enables you to send, receive, and store crypto while also providing access to several dApps such as OpenSea, PancakeSwap, Blur, and more.

Pintu Web3 Wallet supports multi-chain networks, including Ethereum, BNB Smart Chain, Polygon, Avalanche and more. This allows you to interact with smart contracts and dApps across various blockchain networks using just one wallet.

With Pintu Web3 Wallet, you can actively engage in the decentralized future of the internet and participate in diverse Web3 projects.

Let’s create your Web3 Wallet on Pintu app. Watch this video to learn how to create one.

References

Nancy Lubale, Memecoins were ‘most profitable crypto narrative’ in Q1 2024 — CoinGecko, Cointelegraph, accessed 21 April 2024.
Kerman Kohli, Memecoins vs Elitecoins: A Cultural Revolution, Substack, accessed 21 April 2024.
Intifanny Amandara Putri, Keuntungan Fantastis dari Meme Coin: Kisah Dua Trader yang Mengguncang Pasar, Pintu News, accessed 24 April 2024.