Seeing the blockbuster returns Bitcoin and Ethereum have delivered for investors since they launched, more people are looking for the next cryptocurrency to explode. Crypto traders use certain terms like NMGI and HODL to communicate. Understanding crypto lingo can boost your investing knowledge and success in the space. What’s the meaning of NGMI in crypto?
Some crypto slang is intended to deliver encouraging messages, while slang terms deliver warnings. Just like crypto trading signals can help you determine the best coins to buy or sell at specific times, you can sharpen your investing strategy by understanding crypto jargon.
What NGMI means in crypto
NGMI stands for “Not Going To Make It.” In the crypto context, NGMI is used to stress the point that a crypto investor could miss a huge profit on a certain trade.
For a beginner crypto investor, knowing the meaning of NGMI could help you understand the market conditions quickly. For example, you would know what coins other investors fear they could miss profits on and why so you can align your trades correctly.
Crypto slang other than NGMI you need to know
NGMI is only one of the many terms crypto traders use to communicate. HODL is another popular crypto slang. It arose from a misspelling of the word HOLD on a Bitcoin forum. It’s used to encourage investors to continue holding on to their crypto regardless of the prevailing market conditions.
You will also see crypto investors use the phrase "DIAMOND HAND" on Reddit and other forums. The phrase serves to advise investors not to sell when the price of a crypto appears to be slipping.
After Tesla halted Bitcoin payment, some feared that the company would proceed to dump its holding of the cryptocurrency. Tesla CEO Elon Musk replied on Twitter with a DIAMOND HAND emoji to imply that the electric car company wasn’t selling its Bitcoin.
FOMO, which stands for "Fear Of Missing Out," is also a popular crypto slang. An investor can feel FOMO if a cryptocurrency they had ignored suddenly spikes. For example, many investors had FOMO feelings after meme crypto Dogecoin exploded.
WHALE is another popular crypto slang. It refers to someone who holds a large amount of a cryptocurrency. Some people have speculated that Musk might be the mysterious owner of an account with a huge Dogecoin holding.
NGMI crypto token
NGMI might be crypto slang, but it has also been adopted as the name of a new meme crypto.
The NGMI token uses the reverse Honeypot model where once you sell, you can’t buy back in. You can buy the NGMI token with Binance Coin on PancakeSwap. The crypto is expected to list on other exchanges to make it more accessible.
Some investors have made good money with meme cryptos like Dogecoin. However, not all meme coins have taken off. Coinbase co-founder Fred Ehrsam tells investors that they shouldn’t dismiss a good meme.