It’s been a weird year in the financial market, but you should have anticipated that following the boom of AMC, GME, and beyond. What people perhaps didn’t expect was the boom of dogecoin that swept up every group chat across the nation, leaving those who only check the chat once a week to realize they’d missed out. If this sounds at all familiar and you’re determined to never let it happen again, here are four ways you (yes, you) can get ahead of the next crypto boom. 

Consider the Price 

The majority of people who dove straight into the booming dogecoin hype were far from your average moneybags from the financial district. Instead, they were everyday folk just like you. Understanding proper money management when looking for the next crypto boom is so important. You must consider the price of the coin right now. With many cryptocurrencies, you can invest in a lot for a little without putting your entire life savings into it. As with any investment, know what you can afford to lose when making your decision. 

Adoption Potential 

While all cryptocurrencies have the potential for adoption on a broader, more universal scale, not all of them will. This is another important aspect to think about when deciding which coin to invest in. there’s no point in having millions in the next big coin if it just sits in your wallet, especially as the price could drop significantly overnight. Many businesses are becoming more open to using crypto for payments, but this will only happen if they believe the currency is worth it for them. 

Fixed Supply

The majority of cryptocurrencies have a set amount available before you will not be able to find any more other than by purchasing from others through a blockchain or trading between wallets. The more coins on the market initially, the less valuable they will be. On the other hand, finite amounts of crypto will eventually rise in value, so it’s useful to get in as early as possible to try and make a profit when the steep rise happens, although such an increase is not always guaranteed. 

Tracking Information 

No one has the time to scour the internet tracking cryptocurrency trends. So, if you’re serious about finding the next boom, a cryptocurrency API is an invaluable asset. With this, you can stay up to date with real-life peaks and valleys and receive all the information quickly. This could be vital in knowing which coin to invest in before the price explodes, and it will also help you find the best time to sell so you don’t end up in the red. You can find these APIs in mobile apps and trading bots that will automate everything for you.  

Cryptillionaire 

The crypto gods giveth, and then they taketh away, and with the volatile nature of all cryptocurrency, you can never be sure that the next meme coin is going to be the one. So, while it’s okay to take a minor risk here and there, make sure you don’t put your entire life savings into something that could plummet tomorrow.