Altcoin trader Rekt Fencer has shared insights into how he achieved remarkable gains of up to 1,000 times through trading in meme coins.
His strategy involves the technique known as ‘sniping,’ which targets new token launches and can be lucrative even for investors with limited capital.
Fencer’s approach is based on rigorous pre-analysis and ongoing market monitoring for new listings. He uses tools like DEX Screener to analyze developing trends and probable causes that may affect the pricing of freshly launched meme coins.
According to him, the persistence of a narrative among the top gainers frequently indicates a stronger market position.
A significant aspect of Fencer’s strategy is the use of sniper bots. These automated tools are programmed to purchase tokens as soon as they are launched, enhancing the trader’s chance of buying a token before its value surges.
Fencer highlighted several bots, including BONKbot for Solana transactions, BananaGun for Ethereum and Solana, and Unibot for EVM and, prospectively, Solana platforms.
Each bot requires specific customization, and mastering their use can be challenging but potentially rewarding.
“The longer the narrative in the Top Gainers, the stronger it becomes,” Fencer observed, emphasizing the importance of trending narratives in achieving significant returns with meme coins.
Fencer did, however, warn of the inherent risks associated with meme coin trading. The volatility of these assets, as well as the high risk of fraud, need rigorous due diligence and excellent risk management.
Investors are advised to use platforms like Rug Check and Coin Scan to verify the security of tokens. It’s crucial to acknowledge that not all investments will result in the expected high returns, emphasizing the speculative nature of this trading method.
On March 14, Crypto.news reported the arrest of an MEV engineer, Robert Robb, in the US, linked to an alleged $1.2 million rug pull from at least 11 individuals.
Additionally, on March 19, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation Team apprehended a South Korean altcoin issuer on fraud charges, accused of scamming investors out of $16.1 million.
