What is WAGMI and NGMI?

A beginner's guide to crypto slang 🗣️

NGMI and WAGMI are popular internet slang terms used in the cryptocurrency community.

They are most commonly used to describe attitudes towards different market events.

During booms, busts and periods of high volatility, the community may quickly flip between outlooks.

Because of this, those actively trading cryptocurrency or conducting technical analysis may use this market sentiment alongside other factors to inform their crypto trading strategy.

TL;DR 📖

WAGMI and NGMI are crypto-native acronyms used across social media platforms such as X and Reddit.
Crypto users often coin these terms to express their personal views about particular projects or digital assets.
While these phrases may provide some people with insights into how other users might feel about the crypto market, certain projects and tokens, they're largely meaningless.

What does WAGMI mean? 🔼

WAGMI stands for "We Are Gonna Make It" and has a positive connotation.

This term is used to describe a trader who is confident in their decisions and has a positive outlook on the long-term success of their positions, or the market overall.

For instance, if someone holds a crypto asset that they expect to increase in value, they might express their belief by saying WAGMI.

Both terms are commonly used on NFT Twitter, online communities and crypto-related social media platforms.

They are often seen in discussions about market conditions, the floor price of non-fungible tokens (NFTs) or the success of specific types of cryptocurrency projects.

How is WAGMI used? 🎙️

Crypto enthusiasts use WAGMI to express their shared conviction in the long-term success of various projects, NFT communities or groups within the crypto space. It is a way to affirm their belief that despite market downturns or poor investment decisions, they will ultimately achieve their financial goals.

WAGMI is often seen in online communities such as Discord or Twitter, where crypto traders and enthusiasts gather to discuss and analyze market conditions. For example, in an NFT project's Discord group, members may celebrate and share the increase in floor price, using WAGMI as an expression of optimism about the project's long-term potential.

This slang term has gained popularity due to its relatability and the sense of camaraderie it fosters within the crypto community. It reflects the collective mindset of believers who are willing to hold onto their digital assets and navigate market cycles with confidence.

It’s important to note that WAGMI can also be used disingenuously by some people to encourage others to buy into projects that they’re personally invested in, simply to pump prices and help them make a profit.

What does NGMI mean? 🔽

The NGMI acronym stands for "Not Gonna Make It."

Crypto traders use NGMI to describe or identify what they feel are poor trading decisions.

It can also refer to those who have a negative outlook on the future prospects of the crypto markets.

For example, if someone takes a big loss on a trade, they might be labeled as NGMI. Or, if someone dismisses the need for cryptocurrency to exist, crypto believers may respond with NGMI.

How is NGMI used? 🤷‍♂️

Traders may use NGMI in an effort to discourage each other from making potentially bad decisions in the crypto market. With the increasing popularity of digital assets and non-fungible tokens (NFTs), it can be difficult for some investors to gauge what the broader community sentiment is toward these new projects.

By identifying and avoiding NGMI projects, investors may feel as though they can make better informed financial decisions — though this principle is entirely based on the collective opinions of others.

Other important factors to consider here also include rigorous due diligence and risk management processes.

NGMI generally serves as a vague market sentiment indicator. In some cases, it may encourage crypto traders to assess floor prices, governance tokens and the collective belief in a project's long-term success.

This cautionary term is sometimes used by traders on social media to separate what they consider to be poor investments from projects that they believe may have the potential for success.

In the context of cryptocurrency, NGMI coin and NFT projects have become increasingly prevalent, making NGMI a helpful concept for some in the crypto space.

By being aware of this internet slang term, crypto enthusiasts may find it easier to navigate the market with a somewhat better understanding of what the wider market sentiment is toward certain projects or digital assets.

Are NGMI and WAGMI important phrases? 🤔

NGMI and WAGMI play a role in the context of crypto culture and the NFT world.

While they rarely provide any meaningful insights into the market, these terms can help to emphasize the highly volatile nature of the crypto industry, reminding participants of the challenges and potential pitfalls they may encounter.

NGMI, with its negative connotation, carries the weight of caution and skepticism.

It acts as a reminder to carefully analyze market sentiment and project fundamentals to avoid poor investment decisions.

The term encourages individuals to consider the potential risks and negative outcomes associated with their choices, promoting a more thoughtful approach to crypto trading.

On the other hand, WAGMI fosters optimism and confidence among participants.

This playful phrase can represent a collective belief in the long-term success of certain crypto projects and investments, motivating individuals to persevere despite temporary setbacks or market downturns.

But perhaps most importantly, it promotes a sense of unity and camaraderie within the community, allowing traders to rally around their shared positive outlook on certain projects.

In an industry known for its vocal online communities, NGMI and WAGMI ultimately serve as a way for people to express their support or dissent for certain crypto projects.

While acknowledging these opinions may help some people to gain a better sense of the current market sentiment, it should not be relied upon wholly as a replacement for proper due diligence and research.