Thus, to launch an NFT collection, you first need to draw it, spend time and money on an artist, then generate a lot of pictures from the drawn layers and, of course, turn these pictures into non-fungible tokens. Memecoin does not require such efforts and a long preparation time, and with the advent of platforms such as Pump.fun, its launch has become almost free. If earlier the creator of a meme coin needed to contribute some liquidity, now it is contributed by buyers, and all that remains for the dev to do is come up with a name, ticker, description, and upload a picture to the platform.
Pros of launching a memecoin
• simple
• fast
• (almost) free
If it's so simple, why isn't everyone doing it? The answer is paradoxical: everyone is doing it, and that is precisely what makes it difficult. After all, it is not so easy to stand out from the huge number of tokens. If we are talking about launching a successful memecoin and earning money from it, simply creating it is not enough. The most important thing is marketing, and marketing in a highly competitive environment cannot be a simple task.
In addition, in the case of memecoins, marketing looks more unclear than it was with NFTs. In addition to speculation on images, NFT buyers valued the promise of utility in projects, and they were attracted by collections offering additional ways to earn money, such as staking or sharing income from a marketplace or launchpad. Memecoins have speculation as their central offer, so it is unclear what the "unique selling proposition" might be.
You might argue that memecoins have built up a supporting infrastructure around themselves, just like NFTs did. Launchpads, DEXes, Telegram trading bots, rug checkers, and token scanners are very popular now. However, if you want to create one of these tools and launch a memecoin "in honor" of it, we must warn you. Although there are fewer such projects than memecoins, there are still quite many of them. Although crypto is constantly onboarding new people, memecoin trading is mostly done by hardcore crypto users who have already chosen their favorite DEX and trading bot, so you are unlikely to be able to lure them away.
Cons of launching a memecoin
• high competition
• overheated market
• unclear marketing
So, how do you make a memecoin popular?
If the above disadvantages have not scared you away, and you are still aiming to launch your memecoin, here are some tips.
1. Study the memecoin culture
Without understanding the specific atmosphere, traditions, and even slang of the memecoin enthusiasts, you will not be able to win the attention of potential holders. To immerse yourself in this atmosphere, check out resources such as GMGN.Ai, Ape Pro, Banana Gun community.
Ideally, experience it yourself and try to trade memecoins at least a little. In order not to go broke at this stage, allocate an amount that you do not mind spending on researching this issue in advance.
However, the most important thing is not even the fact of your acquisition of a token, but communication with people, understanding their needs and moods. By becoming part of the memecoin holders community, you will understand their culture, and also implement the second step of our strategy:
2. Make connections
Networking is important in any business, but in crypto, it is the cornerstone. After all, no promotion tool here works as well as word of mouth. This is why there are alpha hunter groups; this is why most tools offer referral programs. The mentality of potential memecoin holders is such that they are used to looking for “insider” information, and the trend of copy trading confirms this. Of course, you can buy advertising, as in any other business (in this case, it will be advertising from big Twitter accounts), but there is a high chance that it will not work as well.
In crypto, people recommend projects to each other, and the more significant the one who recommends you, the more response your memecoin will receive. It will take some time to establish such connections, which is why the next step is:
3. Do promotion BEFORE launching
The moment of launching any project in crypto is important. People are watching your launch, and if it is a failure, the chances of achieving success in the future are much lower. Crypto holders are susceptible to hype, which is quite reasonable, given the speculative nature of tokens. Therefore, it is better to take care of the memecoin promotion even before you create it. If you have already made the necessary connections, gather people interested in your memecoin on Twitter, Discord, or Telegram. Their activity will show you whether it is worth launching or you need to warm up interest first.
4. Create something catchy
When coming up with a name, ticker, description, and choosing a picture, keep in mind what you learned in step 1. Use a sense of humor, and be aware of the current mood and news. Topical humor often finds a response among crypto enthusiasts, as well as something disgusting or, on the contrary, very cute (look at how many cats and dogs have become the faces of popular memecoins).
5. Collaborate
We advise you to do marketing before creating a token, but this does not mean you no longer need to pay attention to its promotion after the launch. When your memecoin goes live, there is still room to shill it through various collaborations with DEXes, swap platforms, bots, and other infrastructure tools.
At this stage, the connections made in step 2 may come in handy again, but even if you don’t have any, you can contact the creators of such tools with an offer of cooperation. After all, collabs are in second place among marketing tools in crypto after word of mouth. Therefore, most devs willingly respond to the offer of collaboration. However, you should make this proposal beneficial to them, not just you.
Conclusion
As you can see, launching a successful memecoin is not an impossible task, but it includes steps that are not obvious. Of course, even if you diligently follow all these steps, there is no guarantee that your memecoin will be able to maintain popularity for a long time and constantly grow in price. After a successful launch, a new game begins - maintaining interest and growth, where other laws and rules apply that you will have to learn.
Well, if you have read this far and still want to launch your memecoin, go for it! The editors of Hackers Tools wish you good luck and will be glad to hear about your successes and failures (after all, failure is just a step on the way to success). Have a nice memecoin launch!