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NGMI

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Glossary
22 лист 2023 р.

What is NGMI?

"NGMI" stands for "Not Going to Make It." In the cryptocurrency realm, this term is frequently used to describe scenarios, strategies, or decisions that are likely to lead to unfavorable outcomes. For instance, missing out on a significant trend, ignoring vital crypto market signals, or failing to understand the basics of blockchain technology could all be situations where someone might say you're NGMI.

For example, selling an NFT at a ridiculously low price despite all market indications that its value is on an upward trend. NGMI is used widely within and beyond the crypto community as a humorous mockery and disapproval of one's decision, professionally or personally.

While NGMI can have a negative connotation, it is widely used within the crypto Twitter space in a humorous or self-deprecating way. A commonly used scenario would be Twitter users commenting or reposting a tweet of "NGMI" lightheartedly to express doubt or ridicule on an unbelievable project, such as a meme coin with a laughable name.

How NGMI Is Used in the Crypto Space?

NGMI describes a situation in which an investor makes a bad decision by ignoring market data and expert advice. The term carries a strong negative connotation, implying an incorrect decision.

Just like the term WAGMI, NGMI started off as a meme. Both phrases reportedly became popular after the popular late bodybuilder Zyzz started using them in his motivational YouTube videos. However, over time, NGMI has become a part of the crypto vocabulary.

How to Apply the NGMI Acronym

Members of the crypto community use NGMI to label people who don’t see the value in investing in things like cryptocurrencies and NFTs. They believe that their failure to invest in these items is a poor financial decision that will lead to nothing good. 

In the crypto community, it’s the equivalent of calling someone a loser or at least a future loser. That’s why you should be careful in your use of NGMI among crypto community members. Labeling someone in your group, NGMI, can incite confrontation. 

The NGMI label can also be extended to crypto community members. For instance, NFT holders who price their NFTs below the floor price or constantly flip NFTs without paying much thought to losses and profits are often labeled NGMIs. 

Some people use NGMI in a self-deprecating way after making — in hindsight — a poor investment decision or an unwise financial action. 

Successful Strategies: Avoiding the NGMI Label

Conversely, certain practices can help you steer clear of being tagged as NGMI:

NGMI in the Context of Crypto Trends

Missing Out on Major Trends: A Classic NGMI Scenario

One of the most straightforward examples of an NGMI scenario is failing to recognize or act upon significant trends in the crypto world. For instance, not understanding the potential of DeFi or the NFT market could leave investors behind.

Catching the Wave: How to Stay Ahead

To avoid being NGMI, it's crucial to:

  • Research Emerging Technologies: Stay abreast of developments in areas like blockchain layer 2 solutions.

  • Participate in Crypto Communities: Engaging in forums and discussions can provide insights into emerging trends.

NGMI and Risk Management

The Role of Risk Management in Avoiding NGMI

Effective risk management is key to not being NGMI in crypto. This includes understanding concepts like liquidity and volatility.

Strategies for Effective Risk Management

  • Setting Stop Losses: Implementing stop loss orders can help limit potential losses.

  • Understanding Leverage: Knowing the risks associated with margin trading.

WAGMI vs. NGMI vs. GMI

Crypto enthusiasts often use "To the Moon!" to express excitement and optimism about a cryptocurrency's potential. "NGMI" serves as a humorous way to convey the opposite.

Both NGMI and WAGMI are commonly used in the NFT world. You often see them in NFT-specific Discord groups or on NFT Twitter accounts. It may be easy to confuse the two, but these expressions are completely different. WAGMI stands for "We're Going to Make It," or GMI means "Gonna Make It" and is used interchangeably that represents the opposite of NGMI. The term has a positive connotation and is used to imply future success. 

$NGMI Crypto Token

While NGMI might be popular slang, it has also been adapted as a new meme cryptocurrency listed in the crypto market. With the success of meme-inspired currencies like Dogecoin, many crypto investors are jumping on the bandwagon, creating currencies like WAGMI coin. The decentralized $NGMI meme token is built on the Avalanche network, and has a total supply of 1 billion tokens. Almost the entire supply of NGMIs has been airdropped and added to the liquidity pool. Any additional tokens will be stored in the NGMI Treasury. You can now buy the $NGMI token. It uses the reverse Honeypot model, which means that once the owner sells their token, they can’t buy back in. However, investors should do their due diligence when investing in meme coins as they are more speculative, and their value is mostly driven by the community and market conditions than their utility. The NFT community uses social media platforms to fuel the discussion of these meme coins with the aim of capturing more attention from the public.Learn more: How to Avoid Crypto Scams in 2023