The content comes from an interview with Feng Wuxiang, a cryptocurrency influencer who started from farming and then moved to the MEME track, achieving profits of over 10 million in multiple single projects.
How to earn the first 10 million?
I served as the VP of market operations in an e-commerce company and stumbled upon the 'new project offering' business in the cryptocurrency field in 2021. So I decisively resigned from my job at the e-commerce company to focus on cryptocurrency new project offerings. As the popularity of Bitcoin and blockchain gradually rose, I reviewed past projects, calculated costs and returns, and discovered considerable profits, believing this was an opportunity not to be missed.
The story of the first 10 million
I made my first 10 million through Coinlist's new project offerings. At first, our new project studio was small; we just set up a table in the living room and hired two college students. The initial investment included two computers, with a total investment of about over 10,000 yuan; hiring two recent graduates at a monthly salary of about 4,000 yuan each. With these investments, each account could invest 500 dollars, and each project could invest 10,000 to 20,000 U.
At that time, although the winning rate for new offerings was only 3%-5%, these IDO projects rarely suffered losses. For example, during that time, I invested over 25,000 dollars in MX and earned 700,000 to 800,000 dollars. Then I bought $PEOPLE , ultimately achieving a total of 10 million. After experiencing the crashes of Luna and FTX, it took more than two years of retracement for me to return to the peak of that year.
How to smoothly transition from the airdrop track to the MEME track?
Many people who farm actually do not trade coins. For example, in P小将's group, there might be 100 CAs in a day, and if you're not careful, you could get kicked out. In contrast, farming groups usually have only a few dozen messages a day, spending most of their time silently working on projects. Thus, these two groups of people are completely different.
I was able to transition from farming to the MEME track mainly because I have friends who are involved, and I am also interested in MEME. Playing MEME requires positive feedback; otherwise, it's easy to fall into anxiety and self-competition, making it hard to last for too long. MEME has an impossible triangle—capacity, multiples, and certainty.
Capacity: the project must have enough space to accommodate large positions;
Multiples: the project must be able to provide several times or even dozens of times returns;
Certainty: after entering, there is a high probability of making a profit.
Currently, I see this combination in $TRUMP: it has both capacity (the official pool has added tens of millions) and multiples (you can make several times your investment from a large position right from the start, even more than ten times), and there is certainty (MEME issued by Trump himself).
The path to MEME fortune
I prefer to play with two-stage or larger capacity coins. Compared to P小将 who stays on-chain almost all day, I prefer simple and straightforward operations. P小将 sleeps only 6-8 hours a day, spending the rest of the time trading. This lifestyle feels very tough to me, and many hundredfold profit opportunities often require entering the market very early, and it is also hard to get into the internal market.
Therefore, I prefer to invest in projects with market caps of tens of millions or over a hundred million. As long as I can understand their narratives and estimate the reasonable valuation of the market, I can easily earn 50% or even double the returns.
For example, $BOME and $SLERF have earned me quite a bit; $SLERF once generated 1.2 million dollars in trading volume within an hour, and Japanese cats also made 1 million dollars overnight. $CHILLGUY is also a successful two-stage case; after its price surged significantly, I successfully entered and sold at the right time, reaping considerable rewards.
How to judge MEME narratives?
To judge whether a MEME is worth investing in, the key is to look at its IP popularity and the operational ability of the project team. The market sentiment for MEMEs changes very quickly; if you feel that the popularity has peaked, you need to consider selling. There is an old saying: 'Sell when the crowd is cheering,' which is very applicable.
For example, when GOAT reached 600-700M, I judged that its popularity was already high and chose to sell at the right time; although I didn't sell at the highest point, I still made a good profit.
The most important thing is to do more reviews and train your market sense and judgment ability. After experiencing a coin's journey from inception to peak and then to zero, you will accumulate corresponding experience. For example, $TRUMP and $SLERF both fit the MEME triangle theory—capacity, multiples, and certainty.
How to control profit-taking, stop-loss, and position management?
Avoid being overly optimistic: do not be overconfident in your choices and ignore potential risks. Analyze calmly and avoid blindly following trends.
Cut losses in time: do not stubbornly hold on to losses, rationally judge whether the project still has room for growth, and if not, decisively cut losses.
Reasonably allocate positions: do not put all your funds into a single project; diversify risks and increase tolerance.
Reinvest profits: ensure the safety of principal while increasing investment returns by reinvesting profits.
Pay attention to project narratives and market sentiment: the narrative of the project and the fluctuations in market sentiment are crucial for trading decisions.
Choose projects with high certainty: try to select those with clear application scenarios and strong team backgrounds to reduce uncertainty.
How to dig for gold in both MEME and farming tracks?
Farming is a positive EV (expected value) activity. For example, while playing MEME, I often use JUP because I know there will be airdrops in the future, which allows me to leverage the airdrop opportunities for further profits.
For example, I won't buy directly with a BOT but will first operate through JUP, which increases trading volume and avoids the BOT's 1% fee. This way, the cumulative airdrop and fee savings can yield significant returns, around 50,000 dollars in airdrops, plus saved fees, bringing final returns to 100,000 dollars.
I will also increase my unilateral pool in projects like Metaora, collect fees, and leverage airdrop opportunities to further enhance returns.
In summary, it's about playing MEME while participating in positive EV activities to maximize airdrop profits.
This is some of my experience and insights in the cryptocurrency field; staying calm and investing rationally is the key to achieving sustainable returns.
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