Memecoins
‘Dogecoin Millionaire’ Says ‘Fair Launches’ for Meme Coins Don’t Exist: ‘Stop Being Delusional’
Las Vegas resident Glauber Contessotoknown as “Dogecoin Millionaire“, took to his social media account to shed light on the concept of fair launches in crypto markets.
What happened: The widely followed trader says the presence of snipers and bots has created an uneven playing field, making it almost impossible for average investors to compete.
“There’s no such thing as a fair launch these days,” says Contessoto. “Snipers, people who use robots and are professionals at it, are the ones you face when a coin is flipped.” He points out that this cannot be considered a fair launch, as these players do not adhere to the same rules as regular investors.
He further warns that attempting to participate in these launches is a surefire way to lose money, stating: “They don’t play by the same rules as you, and you will lose money 100% of the time.” Stop being completely delusional. » He paints a portrait of snipers waiting on the sidelines, ready to “crush and destroy a project as soon as it goes into production.”
Read also: Meme Coins Are “A Pure Ponzi” And “Destroying Crypto,” Says Trader Who Thinks Dogecoin Was Different
Why is this important: To improve the situation, Contessoto suggests that the best outcome investors can hope for is to back projects with strong teams who understand the challenges posed by snipers and robots.
He advises teams to take proactive steps to protect their projects and communities. They could purchase the majority of the supply and distribute it over time, allowing the project to grow naturally with a thriving community as the market cap increases.
His suggestion to investors is to focus on these types of projects rather than chasing so-called “fair launches” that are vulnerable to snipers and bots. He also warns that as soon as the snipers throw away their bags a few hours after the launch, they move on to the next room which they can demolish and make endless money.
Contessoto saw his fortune drop drastically from $3 million to $50,000 only when he failed to sell his Dogecoin DOGE/USD holdings after massive rise.
And after: The influence of the pieces themselves and Bitcoin as an institutional asset class should be explored in depth in the next The future of digital assets event on November 19.
This content was partially produced using AI tools and was reviewed and published by Benzinga editors.
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