TL;DR
Get insights on trading meme coins on Bybit, with specific tools, strategies, and tips to maximize profits in this volatile yet lucrative segment of the crypto market.
According to CoinMarketCap, meme coins are now a $50B dollar market. This means that the memes make up about 2% of crypto’s total market cap. Now, there’s always been a lot of buzz around meme coins, due to the rags-to-riches stories, the volatility, and the humor. However, 2024 has been a particularly good year for meme coins, and some analysts are saying that 2025 will be even better.
So if you’re a Bybit user, and you’re wanting to get into meme coin trading, then this article will provide you with some valuable tools, considerations, and tips when it comes to discovering, researching, and trading the meme coins on Bybit.
WTF are Memecoins
To understand the phenomenon of meme coins, let’s review the concept of a “meme”. Introduced in 1972 by biologist Richard Dawkins, memes are ideas, behaviors, or styles that spread from person to person within a larger culture. In some sense, memes are like viruses, but instead of spreading though physical transmission, memes spread via human communication channels.
Now combine this concept with the internet and crypto, and you’ll begin to understand meme coins. Thanks to social media, memes now go “viral”, and disseminate across the globe within hours. And since crypto is an internet-native technology, perhaps it was only a matter of time until crypto and memes merged.
And that’s what happened in 2013, when Dogecoin was created by two software engineers. Originally intended as a joke, Dogecoin poked fun at the speculative nature of crypto, while playfully using a Shiba Inu dog as its mascot. And ironically, crypto speculators began piling into Dogecoin, as it went viral. And so, an entire new crypto sub-industry was born.
If you’re newer to Bybit, or to crypto in general, then we recommend you also check out the following articles before playing around with meme coins:
- Bybit Trading Platform: A Comprehensive Guide for Beginners
- Our Ultimate Review of Bybit
- Understanding Bybit’s Derivatives Market: How to Trade Futures, Options, and Perpetuals
- Advanced Trading Strategies on Bybit: Tips and Techniques for Maximizing Profits
Why You Should Take Meme Coins Seriously
Many investors aren’t taking meme coins as jokes anymore, in part due to a recent keynote talk by Murad Mahmudov at Token2049 Singapore, in September 2024.
In his presentation, Murad claimed that the crypto industry is in the midst of a “meme coin supercycle”. And by that, Murad meant that memecoins were the biggest winners in terms of 2024 percentage gains, when filtered by crypto sub-categories, and that this would only continue through 2025. We won’t go into his specific reasons here, but Murad went deep into why he believes meme coins are exploding in popularity, and why they’re here to stay.
Now from a trading perspective, meme coins have indeed be the the big winners of 2024, with the category as a whole seeing year-to-date average returns of 425% by the end of Q3. This number blows all the other categories out of the water.
So why should you take meme coins seriously? Well, if you play your cards right, and appropriately manage your risk, cashing in on a solid meme coin trade can translate to big bucks in your pocket.
More on why Meme Coins are here to stay (or at least some of them): Meme Coins: Why You Shouldn’t Fade Them
How to Find and Research Meme Coins on Bybit
Bybit makes it easy to find and research meme coins. The platform has many features to play around with and get detailed insights into the memecoin you’re eyeing for.
To get started, just click on the “Markets” sub-menu at the top of your account.
From there, select whether you want to look at the spot, derivative, or newly-listed markets, and then filter by “Meme”. Once you’ve done that, you’ll be able to view all of Bybit’s current memecoin offerings in one place, per your selected market.
This list will give you a snapshot of the most important market data (e.g. recent highs and lows, trading volumes, etc.) for all of Bybit’s meme coins. Then, if you select the “details” icon next to any particular meme coin, you’ll access an in-depth research report for that coin, which covers its history, a price analysis, performance metrics, tokenomics, market sentiment, and other data.
So, Bybit’s Market sub-menu can serve as a good foundation for memecoin hunting and research.
Getting the Jump on the Newest Meme coins on Bybit
But due to the nature of meme coins, the traders that are able to spot the next big meme coins the quickest are those who have the best chance of making the most money. There’s a few tools on Bybit that will help you get ahead of the curve.
The first tool is simply filtering Bybit’s Markets menu by “newly listed”, and then searching for new memecoins there.
Most of the time, there should be a few new meme coins that have just hit the exchange. And as you can see, at the time of this writing, both Moo Deng and 1000Cats were just listed.
And second, you can check Bybit’s pre-market spot and derivatives portals for any memecoin opportunities. Bybit’s pre-market trading is an over-the-counter platform that lets you trade new tokens before they’re officially listed on the exchange. This can serve as a huge advantage when it comes to meme coins. But, it means you’ll want to check these portals on a routine basis.
To access Bybit’s two pre-market trading portals, select either “Trade” or Derivatives”, and then select “Pre-Market Trading” or “Pre-Market Perpetuals”. And then check if any new meme coins have been listed.
Trading Meme coins on Bybit: Considerations and Tips
Trading meme coins is about as “degen” as it gets. But you’ll get no rewards or recognition for being caviler or reckless in this space. Rather, you’ll only be giving your hard-earned money to someone else. Therefore, when dealing in meme coins, it’s as important as ever to employ disciplined trading etiquette. This will make all the difference when it comes to making or losing money with meme coins.
So, here’s the top considerations and tips when trading meme coins on Bybit.
1. Buy the Lows
Memecoins are all about buying low and selling high. So if you’re buying at all-time-highs, then you’re most-likely serving as exit liquidity for someone else. Instead, be patient, and take advantage of Bybit’s technical analysis tools, price charts, and market analyses, to help you pinpoint market bottoms. Once pinpointed, then strike.
To brush up on some Bybit trading basics more generally, then see Spot Trading on Bybit: A Beginner’s Guide to Buying and Selling Cryptocurrencies.
2. Use Limit Buy Orders
When it’s time to buy, it’s normally best to not smesh the market buy button, but instead use a limit buy order. If it gets filled, it’s more likely that you’ll be in profits faster than with a market order. And if it doesn’t get filled, there will be more entries and other coins down the road. Again, patience is key.
3. To Lever or Not to Lever?
If memecoin trading is gambling, then memecoin trading on leverage is getting in deep with loan sharks before you head to the casino. Memecoins typically provide enough volatility that you can get 10x, 50x, or 100x returns with the right coin, at the right price, without any leverage. So leverage really isn’t even necessary here.
Learn more about leverage here: How to trade with leverage on Bybit
But if you choose the latter option, then it’s absolutely critical that you know what you’re doing, and that you’re managing your risk appropriately. If you don’t, you can very easily lose all your money.
Bybit offers up to 50x leverage on many of its meme coin perpetuals, but we don’t recommend going higher than 5x. And if you’re going to use leverage, then you almost always want to use isolated margin, rather than cross margin. Using the latter option is a good way to liquidate your entire account.
To learn more about perpetuals on Bybit, see Understanding Bybit’s Derivatives Market: How to Trade Futures, Options, and Perpetuals.
4. Stop Losses are Mandatory
Regardless of whether you’re using leverage or not, stop losses on every meme coin trade are absolutely mandatory! I repeat, you need to use a stop loss every single time you enter into a memecoin trade.
5. Trailing Stops are Powerful
Trailing stops are particularly powerful for memecoin trading, because once a memecoin starts pumping, it can keep going north for a long time without much retracement. So, once you’re in profits on a memecoin that you don’t want to lose, consider setting a trailing stop, rather than a market or limit sell order. The trailing stop will capture the insane upside potential of meme coins, while it also continually locks in your profits.
Mastering Trading Course – by Lark Davis
Want to take your trading skills on Bybit up a notch? Check out the Mastering Trading Course, created by Lark Davis himself. Inside, you’ll find practical, step-by-step guidance on reading market signals and using technical analysis tools. Plus, there’s a dedicated module on how to get the most out of Bybit—perfect for anyone aiming to become a confident, skilled trader on the platform. Whether you’re new to trading or looking to sharpen your memecoin strategies, this course has everything you need to trade smarter and confidently on Bybit.
Closing Thoughts
Like anything else, memecoins are a marathon, and not a sprint. So if you feel like you missed out on a particular coin – don’t worry – because it’s just a matter of time before a new meme coin goes viral. So stay plugged into emerging internet jokes and culture, and then watch the new meme coins that inevitably follow.
Once you’ve found the right coin and the right market entry, use Bybit’s analytical tools and order types to help maximize your profits and minimize your risks.
Good luck!
ps. we compared Bybit vs Coinbase and Bybit vs Binance, might be interesting to give that a read too.
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David learned about bitcoin in 2015 and has closely followed the crypto industry since then. His professional interests center around bitcoin, layer-one blockchain protocols, decentralized finance, and clean energy. An attorney by trade, David has held licenses to practice law in the State of Hawaii and in US federal courts.
