Part 4/7:
As a trader navigating the world of meme coins, the trader emphasized the importance of recognizing community sentiment around investments. Finding a coin with a solid community and holder distribution can greatly influence future price movements. He recommended checking who is holding large amounts of a coin; if they have strong conviction, it might indicate sustained interest that could lead to future price increases.
Furthermore, he mentioned the rise of Pump and Dump schemes that are rampant in the crypto space, where the community can have a major impact on a coin's performance, underscoring the necessity of selecting coins strategically rather than haphazardly.