Thread by @Cryptogeeks

Why #MetaWhale #GOLD (aka $MWG) is one of the best places to park your memecoin moon earnings.
Everyone seems like an expert trader right now, during bull markets thats what tricks inexperienced people into gamblers ruin.

https://twitter.com/__ianny__/status/1391383292939751424

Watching the transaction history of $MWG, you can start to see smart traders who have taken advantage of the moon missions from memecoins parking profit into it. Why? Because they know that "profit" can be fleeting, on something that is backed by nothing.

The reason why it has any value at all is because of hype. Nothing backing it means that eventually the hype fades, or worse gets taken over by a few people who control the whole supply (This unfortunately happened to #dogecoin, even @elonmusk has commented about this)

Without a solid backing of something with real world value, the ultimate floor price for any of these things is 0, although 0 seldom happens in #cryptocurrencies, what actually happens is pump groups buy them up at nearly zero price, and con people into buying them later.

This leads to a series of pump and dumps that causes a lot of innocent people who aren't very savvy to lose any gains they might have had. It gives the scumbags more money, so they keep doing it.

Anyway, the point of this post isn't about that. It is about setting up strategies and taking profit *ON THE WAY UP*. Don't let anyone convince you to hold something until "$X", which you see in Twitter all the time by influencers. That is not a healthy trade strategy.

A healthy strategy is to say, every x% take y% profit. This gives you the ability to also DCA back in when there is the inevitable pullback, and better yet it protects you when speculative bubbles burst. See $eRSDL, its volume is fading as its price is going lower.

If people had not listened to the influencers on that, and booked profits in a reasonable strategy such as I just gave, they would have been in a much better place money wise as well as mentally. The same thing is happening with #Dogecoins many runups and fall backs.

This is due to big money being able to influence what is happening. Don't fall for that type of stuff. Sound profit taking, move it to somewhere that has an actual store of value be that stable coins, or better yet (yes I am biased) something like $MWG. The reason for this is

As volume happens on $MWG, the value of it actually gets better, sells help the protocol more than buys, but both benefit its holders with a higher and higher yield of #gold. During basically every bear market in history, gold has done incredibly well.

This is not likely to change during the next one. Which might not happen for awhile, or it might. But if you are smart (and if you are following me you probably are), you will be planning for that NOW, so you are not scrambling later. like @frankiemacd always says "BE PREPARED"

Well this thread went a bit off the rails, it was supposed to be purely about why $MWG was a superior store of value but turned into a bit of a crypto history lesson and some other things.
If you haven't already done so, check out:
metawhale.io/mwg
Be smart with profits.

@threadreaderapp unroll