Seeing the blockbuster returns that Bitcoin and Ethereum have delivered to investors since their launch, more people are looking for the next cryptocurrency to explode. Crypto traders use certain terms like NGMI and HODL to communicate. Understanding crypto terms can increase your knowledge and investment success in the space.
Some crypto slang is meant to convey an encouraging message, while slang terms provide a warning. Just as crypto trading signals can help you determine the best coin to buy or sell at any given time, you can sharpen your investment strategy by understanding crypto jargon.
What Does NGMI Mean In Crypto?
NGMI stands for “Not Going To Make It”. In the crypto context, NGMI is used to emphasize the point that crypto investors can lose huge profits on certain trades.
For novice crypto investors, knowing the meaning of NGMI can help you understand market conditions quickly. For example, you will know what coins other investors are worried that they could lose profits and why you can align your trades properly.
NGMI crypto tokens
NGMI maybe crypto slang, but it has also been adopted as the name of a new crypto meme.
The NGMI token uses a reverse Honeypot model where once you sell, you cannot buyback. You can buy NGMI tokens with Binance Coin on PancakeSwap. Traders Expect Crypto to be listed on other exchanges for easy access.
Some investors have made a lot of money with meme cryptos like Dogecoin. However, not all meme coins are released. Coinbase founder Fred Ehrsam told investors they shouldn’t ignore good memes.
Crypto Slang Apart From NGMI
NGMI is just one of the many terms crypto traders use to communicate. HODL is another popular crypto slang. This arose from a misspelling of the word HOLD on the Bitcoin forums. It is used to encourage investors to continue to hold on to their crypto regardless of prevailing market conditions.
You will also see crypto investors using the phrase “DIAMOND HAND” on Reddit and other forums. This phrase serves to advise investors not to sell when crypto prices seem to be slipping.
After Tesla stopped Bitcoin payments, some worried that the company would continue to ditch cryptocurrency holdings. Tesla CEO Elon Musk hit back on Twitter with a DIAMOND HAND emoji to imply that the electric car company is not selling its Bitcoins.
FOMO, which stands for “Fear Of Missing Out,” is also one of the most popular crypto slang. An investor can experience FOMO if a cryptocurrency they were ignoring suddenly spikes. For example, many investors had a FOMO feeling after the Dogecoin crypto meme exploded.
WHALE is another popular crypto slang. It refers to someone who holds a large amount of cryptocurrency. Some have speculated that Musk may be the mysterious owner of an account with a large Dogecoin hold.