The NGMI acronym stands for “not going to make it.” The crypto community uses ngmi meaning to mock, caricature, or criticize people that have bad crypto attitudes, encourage poor investing decisions, and fail to understand basic crypto concepts.
Furthermore, ngmi persons are too gloomy, negative, closed-minded, and full of wrong perspectives, particularly when it comes to their crypto and economic investment predictions.
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For example, Jim Cramer from CNBC is a well-known figure who is mocked on crypto Twitter for his poor judgment. In fact, Jim Cramer has made so many bad stock and cryptocurrency predictions that investors have established an inverse Jim Cramer ETF to trade Jim Cramer’s opposite calls.
Many of his predictions can be seen in the image below, where he predicts that the market has bottomed, topped, or that a single stock or cryptocurrency is likely to take off or crash.
As a result, many individuals believe Jim Cramer is NGMI, and people with similar mindset and who share these types of insights with their followers are NGMI.
As a result, NGMI is primarily used as a sarcastic term to disparage and comment on market and crypto opinions that are contrary to trends.
What does WAGMI Stand for?
WAGMI as an acronym means “we’re going to make it.” WAGMI is used to communicate camaraderie and support to fellow cryptocurrency traders, friends, or social media followers. It’s more of a “let’s work together to produce something nice that works for modern-day investors” movement than a “revolutionary overwhelm the system” one.
Furthermore, it’s a support mechanism in which cryptonites tell each other in comments and postings that adhering to the right conviction gives you the best chance of success. So, if everyone sticks to their guns, especially when it comes to Web3 solutions, blockchain transparency, and the potential financial freedom that cryptocurrencies provide, then WAGMI.
But if you stop constructing, stop working on Web3 answers to existing Web2 internet challenges, and continue to be locked in an unbreakable TradFi cycle, you’re NGMI.
So WAGMI is a saying that genuinely embodies the spirit of the crypto, blockchain, and Web3 communities in celebrating working and creating towards a common aim and purpose, namely, reinventing the internet and money.
What is Wagmi slang?
As it has been said above, WAGMI is slang for “We’re all gonna make it“. It serves as a rallying cry for the cryptocurrency markets, heard on social media sites like Twitter, especially when encouraging news is released.
How to use NGMI?
NGMI can be applied in a self-deprecating manner while making regrettable decisions or acting badly.
But more often than not, you’ll hear members of an in-group refer to members of an out-group (like those who don’t think NFTs will be there in the future) as “NGMI.”
The moniker may also apply to those who price their NFTs below the floor price (below the NFT with the lowest price in the collection), frequently adjust their selling prices, or mindlessly trade NFTs without much consideration for profits or losses.
However, because NGMI has a very bad connotation, you should use it with caution. A person in your group might interpret your use of the term “NGMI” as hostile language.
Many people are coping with their individual situations. People have their own motivations for acting in the ways that they do since life circumstances can change very quickly. While some are NGMI, others are simply coping with what life has to offer.
How to use WAGMI?
When you wish to convey your shared optimism for a group’s or project’s future success, you can utilize WAGMI (or with the NFT community as a whole).
For instance, if you purchased an NFT extremely early in a project’s existence and the floor price of the collection starts rising quickly weeks later, you may spread the good news in the project’s Discord group by writing “WAGMI.”
Utilizing WAGMI in this manner demonstrates your commitment in the project’s long-term success, which you also displayed by maintaining your NFT even when few people appeared interested.
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In the NFT community, ngmi meaning crypto and wagmi crypto meaning can resemble the Yin and Yang. Where NGMI is exclusionary, WAGMI is inclusionary; and where NGMI is very negative, WAGMI is strongly positive.
These statements describe the current status of the NFT sector, which requires a great deal of conviction to engage in, comes with no assurance of success, but also offers the possibility of huge rewards.
In such a setting, emotions are intense, and there is a propensity to reject those who do not share your values or viewpoints (NGMI) while enthusiastically embracing people who do (WAGMI).