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This crypto cycle has been by far the worst cycle for altcoins. A lot of people speculated on altcoins early on in the cycle and they all got wrecked. However, over the past few months, I have made tens of thousands of dollars shorting these altcoins. By popular request, we are finally filming the altcoin shorting tutorial. If you enjoy the content, make sure to smash that like button and subscribe. Without further ado, let's jump right into the video.
So, let's give some context on how this all started. Last year, Bitcoin got a massive pump into new all-time highs before consolidating into a range and then getting another massive pump this year. Now, this fuel was entirely Bitcoin driven and we saw some of our traditional altcoins finally showing some light at the end of the tunnel. All the crypto market cap started pumping over here and then it became the memecoin frenzy. What fueled this memecoin frenzy? Pump Fund. The launch of Pump Fund changed the altcoin market forever. And as you probably know, Pump Fund allows you and me to launch our own meme coins just like that. And as Pump Fund launched, we saw some more and more volume and revenue for Pump Fun itself. And as we can see going into the end of last year, we had a massive peak in Pump Fund revenue. A lot of new coins were launching and a lot of people were making a ton of money speculating on these coins.
One of the key examples that I'd like to show you from a previous video of mine is Chillguy. You might remember this memecoin. We talked about it on the channel six months ago when it was sitting at around a $40 million market cap. As you probably remember, this coin absolutely exploded and went to about a half a billion market cap. I essentially 10xed my money overnight on this coin and I shared it with you on the channel. Now, this is not to talk about our previous calls. This is just to show you how crazy this frenzy was. Chill guy was essentially a meme that I saw popping off on TikTok and I knew that there had to be a token for this meme. I went ahead and speculated on it and we saw a massive pump. Then what happened? Well, let me just show you the chill guy chart. When I talked about it, it didn't even have the standardized coin market cap chart. As you can see, it was just a DEX chart. Then we pumped all the way up to around a $500 million market cap before crashing all the way down. At the time of recording this video, we're now sitting at just above a $66 million market cap. So this happened to a lot of tokens and as we can see it did coincide exactly with when the pump fund revenue peaked and then started dropping off. So we had that massive pump and a lot of euphoria with pump fund tokens. We had chill guy that went to half a billion dollar in market cap. We had Peanut the squirrel that went to several billions of dollars in market cap and so many other coins absolutely blowing up with Pump Fun. Then towards the end of last year going into the new year, we saw a little bit of a decrease in Pump Fund revenue and overall tokens weren't performing that well. I started to notice that the cycles of these tokens were getting smaller and smaller and smaller. And what I mean by this is that a new token on Pump Fund would launch. It would get a lot of hype. There would be some kind of trend going on with it and then you can actually hold it for a matter of weeks to maybe even months and then cash out near the top. It was relatively straightforward and there was a lot of money to be made. Then this cycle got smaller and smaller and smaller. A new coin would launch. It would get very much hyped all over Twitter. It would explode to the upside. But after a few weeks only is when it would go ahead and reverse and have a massive crash. And as I kept on following these coins, we started to see that this cycle went from months long to weeks long to days long to then hours long. And in today's video, I'll be talking about what exactly I did to take advantage of this opportunity.
So taking a look at Pump Fund, we can see that now at the time of recording this video, their daily revenue and overall volume has been falling off a cliff. Now, what was the main trigger for this catastrophic fall-off? Do I need to remind you that the president of the United States launched his own memecoin on Salana? This coin launched and took the entire crypto market by storm. We had a massive pump and all of the other cryptocurrencies were actually underperforming this coin for the 24 to 72 hours of spotlight. Everyone was swapping all of their cryptocurrencies into Trumpcoin. And I'm sure you can imagine what happened next. We got a nice little double top and Trumpcoin was never to be seen at these levels again. This coin is what set up the stage for max extraction on Salana. Then a day or two later, Melania Trump launched her own coin. And as you can see, the same exact thing happened. Everyone was actually now swapping their Trump tokens and other cryptocurrencies to get into this coin and really rush. And I believe this isn't accurate because I saw it at $11 when I was trading it. Now look, $11 all the way down to 30. It's now sitting at a $170 million market cap when this was in the billions. Both these tokens have since dumped over 85% since their launch. This is what really put the nail in the coffin for Salana meme coins and for the rest of the altcoin market up until now in the cycle. And as you can see today, this is the first time in 12 months where Pump Fund has not seen a coin over a $1 million market cap within 24 hours. This tells you that the trenches are completely cooked at this point.
So, now that we got that out of the way, let's talk about the coins that I have been shorting over the past few months, which yielded me tens of thousands of dollars in profits, and how you can replicate this exact strategy. First of all, of course, here's my proof. In the past 30 days, I have made over $20,000 shorting shitcoins. In particular, the more recent one that everyone was hyped about, Launchcoin. This was an excellent short, and it actually resulted in the bulk of my profits for this past month. And this is only on one exchange. I was also trading these shitcoins on weeks. And as we can see, $2,000 in profit shorting Dog in Me, $182 in profit, shorting Banana S31. Then we have some other ones. Several thousands of dollars in profits over and over and over again shorting these shitcoins. And if I go to the next page, it is very much the same thing. $3,400, $1,300, $1,700. You get the point. Now, this has been very successful for me, and I want to show you exactly how I did it.
So, let's start off with Libra. You might not remember this one, but the president of Argentina launched his own memecoin called Libra. This went all the way up to a $2 billion market cap. And of course, if your coin goes into the billions of dollars of market cap, it's highly likely that most exchanges will go ahead and list that token. What does that mean for me? An excellent shorting opportunity. So, when it got listed on exchanges, this started with a disgusting red candle, seeing a massive dump, as we saw with the previous Salana meme coins. Then we got a little bit of a wick and consolidation and I actually entered my position right around here shorting all the way down to here making significant gains. Now the thing you need to be careful with with these tokens is that after they go and form a low, they can get another aggressive pump to the upside. And this was my first lesson because I thought this token was going to go way way lower. But this wick over here did catch me by surprise and I actually lost a lot of my position because of this panic closing my short. But as you can see, it never quite made it to the previous high. And so for this one, it was a great learning experience where I found out that most of the time we can get secondary scam pumps, but they will never go ahead and surpass the previous high. Now, obviously, this token just continued to nuke and continue to nuke because, as I said, it was in the billions of dollars of market cap. So, it only made sense who was going to buy this coin. I mean, the president of Argentina launched a coin after the president of the US launched this coin. And if the United States of America's president launched a coin and it completely tanked, what's to say that other presidents won't launch their coins and they won't completely tank, which is exactly what we got.
Then, let's move on to celebrity coins. Same exact thing. Ronaldo, one of my favorite footballers, went ahead and launched his own token on Salana as the president of Argentina did and as the president of the US did. And what was the result? Another massive dump. I made a ton of money on this one actually entering when we came back down. And you can see here that even if you enter not right at the wick, but you enter a little bit lower, there's a high likelihood that you can still make a ton of profits. Now, where would you set your stop-loss? As I said, typically they don't come back and retest the previous high. So, if you were to set your stop loss above the previous high anywhere in this region, you're likely to be fine. Of course, this is not financial advice, but this is exactly what I was doing, and I made a ton of money doing so.
Then, let's move on to another token, Barachchain. Now, you might be saying, Barachchain, this has nothing to do with the Salana ecosystem or memecoins, but I started to notice a trend. Bitcoin dominance was continuing to increase and as I've been talking about on the channel at length, you know that this means that all coins continue to suffer. So why did I go ahead and short bar chain? Well, bear chain launched at a period in time where Bitcoin was showing a little bit of weakness and all coins were showing even more weakness. Barchain is a new layer 1 which we certainly did not need. And when I went ahead and looked at their stats on this website called CryptoRank, you can see that they raised $142 million at a $400 million valuation. This launched in the billions of dollars of market cap. And I knew for a fact that this token would be going much, much lower. And as we can see on the chart, this is exactly what happened. We got a massive wick. And I actually only entered my short right around these regions over here. But you can see there's still a ton of downside. If I measure from where I entered to the low here, it was about a 40% drop. That is enough of a drop with leverage if you're shorting this to make a ton of profits. And that's the key thing. You do need to take profits. While these types of coins can get an aggressive move to the downside as soon as they launch, they don't just go down fully in a straight line because, as I'll show you on this chart, we did get another pretty big pump targeting these levels. But as you can see, we were never able to go ahead and break that initial wick, which is where I had my stops. Now, for this one, because the wick was so big, my stops were actually up here, and I just did not think it was feasible for Bear Chain to go and explode into the higher billions of dollars of market cap. It just simply did not make sense. This was a coin with a ton of fundraising. And the reason why I bring up the fundraising is because these guys get access to their tokens a little bit earlier. And so they can go ahead and dump these tokens on the market. And I wouldn't be surprised if some of these investors go ahead and short the token on the open market as well to try and protect their position.
Then let's go back to another memecoin, Mubarak. Now this was when we had Ramadan and you can see that it had a massive pump and it made it all the way up to a $200 million market cap. We even had CZ from Binance posting about this token and other BNB chain projects. Now, this told me that we were about to see Max Extraction on the BNB chain as well. It happened on Salana. People were already getting tired of memes, but meanwhile, the Cabal kept on pumping these kinds of tokens and people got absolutely wrecked. I mean, I could not believe people were actually buying this token and bringing it all the way up to a $200 million market cap. This was another huge one for me and I actually shorted it twice. Once after we got the initial pump and then a second time after we got a little bit of a relief rally when we had this massive wick over here on the chart. And the next one that was even more obvious, Mubaraka, guys, come on. Look at the pump here. It made it all the way up to around a $25 million market cap. But as you can see, we got another massive dump. And I shorted this one actually on weeks. By the way, if you want to be able to short new tokens in the future, you have the second link in my description down below, which brings you directly to Weeks. Now, I like this exchange because they're one of the first exchanges to list all of the new tokens that I have been talking about. Whenever there's a new release, these guys typically tend to be first. Then, if you want to short with a little bit more size, you have the first link in my description down below, which brings you directly to Bluffin, another very solid exchange, and they go ahead and list these tokens early as well. Those are the top two exchanges that I would recommend for shorting these coins.
Now back to the coins. What we can see here is that you know Mubarak launched. Then we had Mubaraka. This one was the easiest short of a lifetime. Then we have another one called Gor. I shorted this one as well. Elon Musk was talking about the parody for Gro, which is his AI platform. And this account launched. He was talking about it all the time. He was making funny posts about it. And typically in the previous cycles when this happens, coins would pump massively because we did not have that many altcoins. But nowadays, because of the millions of coins that are launched on Pump Fund and other platforms, it just means that there's way too many coins and a lot of these end up rolling over. Actually, I shouldn't say a lot of them because all of them end up rolling over at some point in time. This was another excellent short. As you can see, we started off here and we weren't able to go ahead and reclaim that high despite the fact that Elon Musk was posting about this at length. So, this just tells you the strength of the current market. When Bitcoin is ranging in a little bit of a bearish trend, this is the perfect opportunity to be shorting these kinds of tokens. Now, I'm not telling you to short these tokens now because, as you can see, every single token that I've talked about has already had a massive pullback. So, you want to start looking for other opportunities.
And another quick one that I really wanted to discuss in this video, Pi Network. This is a massive scam token. They had somehow a lot of supporters. No one even knows what they actually do. And it went up to a $20 billion market cap. As soon as I saw this pump after it got the launch, I was positive that this token would absolutely tank. And I made several thousands of dollars shorting this token as well. So these are the kinds of things that you want to look for. One, either a new memecoin that makes its way above a $100 million market cap. That's what I would recommend in most instances because usually if you try to play around with coins that have say a 10 million or a $25 million market cap, it becomes a lot risky because it doesn't take that much money to go ahead and pump the token. Then second of all, you want to target tokens that look like they have finally formed a little bit of a rounded top because this is the excellent opportunity to enter that short. And as I said, you normally want to set your stops a little bit above the high because it's highly likely that we will never touch those tops again. And as we can see here on Picoin, we absolutely nuked. I mean, it went all the way from $3 down to around 40. And a lot of people I know started shorting it around these levels because they saw how much of a downtrend it was already in. But that's the crucial mistake that you cannot make because if you zoom out, you can see we got another little scam pump over here. Taking it down from 50 cents all the way up to around $1.70 and then we came right back down. So, of course, your entry on these shorts is relatively important. Normally, you want to see us stall out around making a high before entering those shorts in these types of altcoins, but usually once you enter, you can still enter all the way down here. There is room for error because if you would have catched this downside move, you would have made a ton of money. This is an 83% correction, guys. If you're shorting with, for example, 10 or 20x leverage and you're using a couple thousand to short these kinds of tokens, you would have made a ton of money. And that's exactly what I did and what I'm trying to show you in this video.
Now, a key rule of thumb that you want to pay attention to, though, is I typically short with more size when the token has a higher market cap. This one, as I said, was around $20 billion in market cap. Didn't even know what the project did. I did my research and a lot of people were saying that it was essentially just a huge scam and they were fluffing up their numbers. But anyways, as we started to get a little bit of a correction, I entered a little bit lower with a lot of size and made a ton of money on this short. Now, if you dare to start shorting tokens that are around a $50 million market cap, make sure that you're a little bit careful because, as I said, it doesn't take much to pump those kinds of tokens. But if you're talking about ones that have billions of dollars in market cap, then of course that's a little bit of a different story.
But anyways, let's talk about the most recent coin that I've been shorting, and that is Launchcoin on Believe. Now, they went ahead and launched a platform where you can essentially do what Pump Fund does, but using X. All you need to do to launch a new cryptocurrency is to tag Launchcoin and add your project name, and it goes ahead and launches your coin instantly. A ton of people have been launching coins here, but this is just a ripoff of Pump Fund in my opinion. And we saw that the revenues and volume for Pump Fund continue to decrease, showing that the market is tired of this. And yes, Launchcoin did get a massive pump and it made it all the way up to around a $200 million market cap. And as I showed you, that is exactly why I entered a Launchcoin short and I made $18,000 by shorting this token.
In the crypto market, things move very fast and so it's extremely important that you're always aware of what is going on. Are new coins pumping and continuing to pump as we saw with Chill Guy at the beginning of this video? Or are we at a phase in the cycle where everyone is fed up and all of these new coins just extract as much value as possible from the buyers to go ahead and dump that token? So, I have made most of my money this crypto cycle by one continuing to accumulate Bitcoin and of course buying a lot near the bare market lows and two shorting these kinds of shitcoins. So, what I would recommend here is that you just go ahead and think a little bit outside of the box. Don't listen to what all of the biggest crypto influencers are trying to tell you. Altcoin season this, altcoin season that, guys, do I need to really show you Bitcoin dominance once again? Crazy uptrend. So, in an environment like this and when Bitcoin goes ahead and corrects, it is the perfect storm to short altcoins that have especially had these kinds of new launches. Now, obviously, as the market starts to tinker down a little bit, there are less and less projects launching, but I will of course make sure to keep you updated in my free Telegram community down below if there are more opportunities to short in this market.
So, for a quick recap, one, you want to look for coins that have just launched, in particular, meme coins or coins that are at a crazy high valuation that have no justification for this. and you want to wait till they go ahead and make a little bit of a top before targeting a second lower top. If you go ahead and do that and set your stops above the previous high, it's highly likely that you can see a massive move downwards from any of these given tokens. That being said though, I do think it's going to become a little bit more difficult because there are less and less tokens launching nowadays that are at these crazy valuations because of the state that the market is currently in. As I said once again, I will be letting you know in my free Telegram community if I spot any of these opportunities. I hope you enjoyed the content and if you did, make sure to smash that like button and subscribe. and I'll see you in tomorrow's.