Although the term can be found on Crypto Twitter, it is more prevalent in the NFT community, particularly on NFT Twitter and in Discord groups.
What is NGMI Meaning?
NGMI is a term that means "not gonna make it." The crypto community often uses this term to mock, satirize, or ridicule individuals with negative opinions about cryptocurrency, those who encourage poor investment choices, and those who lack a basic understanding of crypto concepts.
For instance, if someone calls Bitcoin a fraud, the crypto community might label them as NGMI.
Moreover, NGMI individuals are also those who are overly pessimistic, negative, close-minded, and often give poor investment advice, particularly in the crypto and NFT spheres.
One example of an individual who gets ridiculed on Crypto Twitter is Jim Cramer from CNBC (the recognized world leader in business news). Cramer has made several poor stock and crypto predictions, leading investors to create an inverse Jim Cramer ETF to trade the opposite of his calls. His predictions often include statements such as the market has bottomed out or a particular stock or crypto is about to take off or collapse. Due to this, many people consider Jim Cramer NGMI, and those who share similar negative mindsets and flawed insights to their followers are also considered NGMI.
Therefore, NGMI is primarily used as a sarcastic remark to comment on opinions that go against the market trends in the crypto community.
As earlier stated, the term NGMI refers to an individual who misses out on potential profits or gains because they lack diamond hands and consider selling their holdings due to a dip, or they choose to secure their profits instead of holding onto their investments for even larger gains.
It's crucial to use NGMI with caution in crypto communities, as it has a highly negative connotation, which essentially equates to labeling someone as a loser, or at least a potential loser.
The term is used to criticize poor decision-making in the market. For instance, if a user buys a token or NFT and then sells it just before its price surges, they might be labeled NGMI. Critics also use this slang to refer to NFT collectors who list their NFT price below the floor price.
NGMI can also function as a warning to users of an impending danger associated with their investment decisions. Individuals labeled NGMI can make the necessary corrections to switch to the WAGMI gang. In terms of economic investment, NGMI individuals tend to be narrow-minded, negative, and overly bearish.
Financial experts often use NGMI as a sarcastic description of a negligent or unprofitable crypto trader.
Sometimes, NGMI is used to refer to shitcoin and worthless NFT projects.
NGMI vs WAGMI
As already discussed, those who are labeled NGMI are seen as foolish and potentially destined for failure.
On the other hand, WAGMI stands for "we're all gonna make it." This term is used to describe individuals who are highly optimistic about the potential for profits and success in the world of crypto and investing. Those who are labeled WAGMI are seen as confident and bullish in their investment predictions.
While these two mindsets may seem like complete opposites, they're actually quite similar in some ways. Both NGMI and WAGMI are based on a belief in the potential for success or failure in the world of investing. The difference lies in how that belief is expressed and acted upon.
NGMI individuals tend to be overly negative and pessimistic in their investment predictions. They may see potential dangers and risks where others do not, and may be quick to criticize and dismiss new projects or ideas.
WAGMI individuals, on the other hand, tend to be highly optimistic and bullish in their investment predictions. They may be quick to jump on new trends and projects, and may be less concerned with potential risks or dangers.
While both mindsets have their strengths and weaknesses, it's important to remember that investing is always a balancing act between risk and reward. It's important to stay informed, do your own research, and make decisions based on a clear understanding of the potential risks and rewards.
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The term "paper hands" has become a popular slang used to describe investors who panic and sell their holdings at the first sign of a market downturn.
The WAGMI mentality is not only limited to the crypto community, but it has also become a popular phrase among investors in other asset classes such as NFT, stocks and real estate.