The crypto verse can be bewildering for newcomers since it's full of weird terminology and abbreviations (terms like HODL, NGMI, or GM are just a few examples). However, there's a term that deserves special attention: WAGMI. But why is knowing WAGMI meaning crucial, and how did it become popular in the crypto community?
Well, WAGMI (and crypto slang in general) can truly impact and reflect traders' sentiments and ideals, ultimately shaping their investment journey. Speaking of popularity, social media channels like Twitter or Reddit play a significant role in making these terms viral. Though, you can also frequently see them being used within crypto exchanges, especially influential ones like Binance, KuCoin, or Kraken.
So, since knowing crypto slang terms is essential when it comes to understanding the sentiment of the crypto market, I'm here to guide you through them. Below, you'll find answers to questions like “What is WAGMI in crypto?”, “What is NGMI in crypto?”, or "What other crypto slang terms are there?".
Without further ado, let’s get to it!
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Table of Contents
WAGMI: Meaning and Origins
To uncover the WAGMI meaning, we first need to decipher it – WAGMI (also known simply as GMI) stands for “We’re All Gonna Make It”. And, true to its name, it sends quite an optimistic message. Now, as you already know, WAGMI is a crypto slang term. However, it actually did not originate from the crypto world.
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WAGMI roots trace back to an online motivational video of the charismatic Russian-Australian bodybuilder Aziz "Zyzz" Shavershian. At some point during his inspirational speech, Zyzz said the phrase, “We are all going to make it,” which soon became a slogan within the bodybuilding community.
After Zyzz’s death in 2011, his catchphrase started to gain popularity beyond its original fanbase. It reached the crypto space after entering the world of investments in 2021, introduced by the subreddit community Wallstreetbets (also known as WSB or /r/wallstreetbets), which is dedicated to discussing stock trading.
Initially, the WAGMI crypto slang was used a lot in the realm of memecoins and social media-driven movements. As memecoins such as Dogecoin became famous, WAGMI emerged as a unifying phrase for those investing in meme-based cryptocurrencies, urging them to maintain their positions and have faith in future gains.
It has also made its way into the world of non-fungible tokens (NFTs), which is why many people google "WAGMI meaning NFT," when trying to figure out what it is about. NFT aficionados show their unshakable dedication to gaining access to the potential rewards that this developing environment has to offer by relying on WAGMI meaning.
Though, the popularity of WAGMI as a crypto term extends far beyond the realms of NFTs and memecoins. In fact, it is widely embraced throughout the entire crypto verse.
By the way, although it is mainly used to promote resilience, many twist the WAGMI meaning by giving it sarcastic undertones. Of course, as I mentioned, this term is inserted in the context of memes and whatnot - in other words, the use of the WAGMI crypto slang is almost always combined with a dose of good-natured humor.
However, it’s not super uncommon to find netizens referring to it in a bad way. Usually, those people are considered NGMI. Now, you might be wondering, “What is NGMI in crypto slang?" Well, the NGMI meaning is quite literally the opposite of WAGMI – it stands for “Not Gonna Make It.”
Not only that, these terms even share the same origins: NGMI was first used by Zyzz and the bodybuilding community, and was later on adopted by crypto enthusiasts in 2021. Therefore, the NGMI meaning is also broadly known on the internet.
So, if you see people calling someone NGMI (e.g., “He’s NGMI”), it implies that the person in question has an overly pessimistic mindset and even lacks confidence - again, the opposite of WAGMI. Naturally, understanding what NGMI is in crypto makes it easier for you to grasp the mentality behind WAGMI.
Thus, WAGMI and NGMI crypto slang terms are often used together to express contrasting ideas, representing the diversity of perspectives and beliefs in the market.
In short, the “We’re All Gonna Make It” slogan evolved from a catchy phrase limited to the bodybuilding community into a unifying mantra within the crypto community, making WAGMI a crypto slang term. As I've briefly mentioned, some traders are truly inspired by WAGMI, meaning that it influences their trading habits and even the market as a whole.
Now, to truly grasp the essence of crypto slang, let’s delve deeper into what is WAGMI and how it resonates with traders and investors.
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The Power of WAGMI in the Crypto World: Embracing Unity and Optimism
WAGMI, meaning "We're All Gonna Make It,” is a term that has captured the hearts and minds of enthusiasts and investors alike in the fast-paced and ever-evolving world of cryptocurrencies.
The WAGMI crypto slang term is more than just a simple catchphrase. As the name suggests, it embodies the spirit of unity, optimism, and the collective belief in success within the crypto community[1]. Essentially, WAGMI is all about bringing people together and giving them a sense of belonging.
In a space where technological advancements and financial opportunities can sometimes feel overwhelming, the power of unity becomes crucial. That’s because, despite the competitive nature of its market, where people fight to mine coins and get better trades, the crypto world actually needs a shared bond in order to exist and thrive, standing tall against the norms of the traditional finance industry.
So, if you're still not sure what is WAGMI in crypto world, just know that it’s like a call to create a crypto space where everyone can have a voice and contribute to collective growth. That's the core essence of WAGMI meaning.
However, another key aspect that this term brings to the table is promoting long-term investments. While short-term market fluctuations may cause uncertainty and anxiety, WAGMI serves as a reminder to stay focused on the bigger picture.
In other words, it encourages investors to embrace a patient approach, understanding that success in the crypto world often requires resilience, determination, and a steadfast belief in the long-term potential of digital assets.
The strong impact this mindset has is especially apparent when you analyze the use of the WAGMI meaning in NFT spaces - given the nature of non-fungible assets, the NFT community often requires extra encouragement.
So, it’s quite obvious that the psychological effects of WAGMI and its associated online trends on investors are profound. The sense of community and the positive reinforcement that comes from being a part of the WAGMI movement can have a significant impact on an individual's confidence and overall well-being.
Thus, many crypto enthusiasts use WAGMI and even incorporate this slang term into their usernames or bios to signify their overall sentiment toward the crypto market. This is why WAGMI and other similar crypto slang terms can be used to analyze the overall sentiment of crypto traders[2].
Furthermore, some websites, tokens, platforms, and companies also take WAGMI meaning quite seriously - to the point of making it an essential part of their branding. If you want to know more about that, I’ve included some examples of projects and tokens that make use of WAGMI meaning below.
Lastly, it's worth noting that the rise of online communities and social media has played a significant role in spreading the WAGMI movement. Online communities found on multiple platforms (such as Reddit, Twitter, Telegram, and so on) shape the narratives, create memes, and contribute to the popular culture surrounding cryptocurrencies.
As mentioned before, memes, in particular, have become a powerful tool for expressing and reinforcing the WAGMI meaning and mindset. They often feature humorous and relatable content that resonates with the crypto community. They serve as a way to connect, bond, and alleviate the stress that can come with investing in a volatile market.
However, it’s important to acknowledge that, like any trend or movement, there can be potential downsides to WAGMI, meaning this term, much like NGMI or other crypto slang terms, can bring negative effects as well.
Therefore, when it comes to understanding what is WAGMI in crypto, it goes beyond deciphering the acronym itself. So now, what negative effects can the WAGMI crypto term have?
The Negative Side of WAGMI
While WAGMI meaning has gained significant popularity and serves as a source of inspiration within the crypto community, there are also some negative repercussions associated with embracing the WAGMI mentality in the context of the crypto world.
It mainly involves overconfidence and unrealistic expectations that can arise from an unwavering belief in guaranteed success, especially considering the inherent volatility and unpredictability of the crypto market. Those who understand these risks can look at WAGMI with a balanced perspective.
In other words, traders can enjoy the sentiment WAGMI brings without exaggeration while also avoiding the other side of the coin – becoming NGMI (meaning falling into an overly pessimistic mindset). To recap what NGMI is in crypto slang: it stands for “Not Gonna Make It,” and it expresses the opposite idea of WAGMI.
✗ Pitfalls of Overconfidence
While optimism is generally a positive trait, excessive confidence can lead to overestimating one's abilities and underestimating the risks involved. The WAGMI meaning, if taken to an extreme, may foster a sense of invincibility, blinding individuals to the natural risks and pitfalls of the crypto market.
So, it's crucial to recognize that success in the cryptocurrency world requires not only optimism but also a cautious approach, thorough research, and a realistic understanding of the market dynamics.
✗ Unrealistic Expectations
One of the dangers associated with the WAGMI mentality is the potential for unrealistic expectations. The crypto market is notorious for its volatility, with prices fluctuating wildly within short periods. The belief that everyone will make it can create unrealistic expectations of quick and substantial gains.
Investors may fall into the trap of chasing hype, disregarding proper risk management strategies, and becoming susceptible to get-rich-quick schemes. Thus, it's important to temper enthusiasm with a dose of rationality, acknowledging that crypto investments carry inherent uncertainties.
✗ Emotional Roller Coaster
The WAGMI mentality can contribute to an emotional roller coaster for investors. The crypto market is highly susceptible to news events, regulatory changes, and investor sentiment, leading to rapid price swings. When hopes are extremely high, any setback can cause people to feel disappointed and sell their assets in panic.
Naturally, the emotional impact of such volatility can be overwhelming, leading to impulsive decision-making and potentially significant financial losses. It goes without saying that maintaining a balanced mindset, understanding the market's inherent volatility, and employing rational decision-making are vital to navigating the emotional roller coaster of the crypto world.
Of course, you can do all of that while still keeping a positive vibe, and that’s how WAGMI can help you in your crypto journey.
✗ Influence of Social Media and Hype
As you might have noticed, WAGMI meaning has been amplified through social media platforms, where influencers and online communities drive trends and hype around cryptocurrencies. Now, while social media can be a valuable source of information, it can also be a breeding ground for misinformation and unrealistic claims.
Investors must be wary of falling victim to FOMO (Fear of Missing Out) and making impulsive decisions based on social media trends. It's essential to conduct independent research, seek reliable sources, and critically evaluate information before making investment decisions.
To sum up, the WAGMI mentality, with its emphasis on unity, optimism, and collective growth, has gained significant popularity in the crypto world. However, it is crucial to recognize and address the risks and limitations associated with this mindset. Overconfidence, unrealistic expectations, emotional roller coasters, and the influence of social media hype can all pose challenges to investors in the volatile and unpredictable crypto market.
The NGMI meaning, which stands for "Not Gonna Make It," serves as a reminder that not every investment will lead to success and, thus, caution should be exercised. Of course, at the same time, you can’t make an impact on the market if you are always putting yourself down, so being overly negative is not good either.
By acknowledging these potential pitfalls and approaching the crypto world with prudence and a realistic perspective, investors can navigate the risks of WAGMI, fostering a balanced approach to crypto investments and combining optimism with critical thinking.
Examples of WAGMI Usage
Okay, you surely know the WAGMI meaning by now. However, you might be wondering how and when should this term be used. So, let's take a look at some real-life examples or scenarios where WAGMI was / could be used within the crypto community.
Social Media Posts
Crypto enthusiasts often use WAGMI in their social media posts to express their determination and optimism. For example, one Twitter user tweeted:
Community Discussions
WAGMI meaning in NFT communities is especially prominent on platforms like Discord or Twitter, where members frequently use WAGMI to uplift one another and share their long-term investment strategies. For instance, a crypto project called THE ZABAS$ tweeted:
Influencer Content
Influencers and content creators in the crypto space often incorporate WAGMI into their videos and podcasts. They discuss the importance of maintaining a positive mindset and believing in the long-term potential of digital assets, encouraging their followers to adopt the WAGMI mentality.
Collaborative Projects
WAGMI has inspired collaborations among crypto artists, collectors, and developers. They come together to create unique collections, virtual worlds, and decentralized applications (dApps). These projects often incorporate WAGMI into their branding and messaging.
Charity and Giving Back
By relying on the WAGMI meaning, NFT (and overall crypto) enthusiasts use their influence and resources for charitable causes. They organize charity auctions, donate proceeds from project sales, and support initiatives that promote social good. WAGMI serves as a reminder to make a positive impact on the world while pursuing financial success.
Investment Strategy Discussions
In online forums and social media groups, crypto enthusiasts engage in discussions about investment strategies and market trends. WAGMI is often mentioned as a guiding principle to maintain a positive mindset, manage risks, and avoid making impulsive decisions based on short-term market fluctuations.
Now, remember I've told you that I'll give you some examples of projects that incorporated WAGMI in their branding? Let's get to it.
WAGMI-Inspired Projects
Talking about crypto projects that incorporated the WAGMI meaning (and the acronym itself) into their branding, we can include names such as WAGMI Coin (wagmi.rocks), Euphoria (WAGMI), Wagmi Games (WAGMIGAMES), and wagmi.sh. Let's look into them in more detail to further understand the usage of WAGMI in the crypto world.
WAGMI Coin (wagmi.rocks)
The WAGMI Coin project was developed by self-proclaimed “dream-chasers,” whose goal is to empower individuals and cultivate a community united by the shared belief in achieving great success. It’s an Ethereum-based token that was launched in May 2023.
This token truly takes WAGMI’s meaning to heart, as it strives to provide a platform for individuals to connect, share knowledge, and support each other's crypto journeys. All of that is done with good-natured humor, as the WAGMI Coin is a memecoin.
Euphoria (WAGMI)
Euphoria (WAGMI) is another project that has adopted the WAGMI slogan as its core philosophy. It represents an innovative DeFi 2.0 concept on the Harmony blockchain, drawing inspiration from successful projects like OlympusDAO and Wonderland. Developed by VenomDAO, Euphoria introduces a new frontier in decentralized finance on the Harmony network.
Wagmi Games (WAGMIGAMES)
WAGMI Games (WAGMIGAMES), as the name suggests, is a Web3 franchise that combines the world of gaming with WAGMI meaning. It was launched in the second quarter of 2023. However, it already stands out as one of the companies that have achieved seamless integration of native App Store and Google Play purchases with NFTs.
By the way, you don’t need any fiat or cryptocurrency to buy its in-game NFTs.
In short, WAGMI Games offers a collection of blockchain-based games where players can compete, collaborate, and earn rewards. By infusing the WAGMI spirit into their gaming ecosystem, Wagmi Games aims to create an engaging and supportive community of gamers who share a common belief in their ability to succeed.
wagmi.sh
Lastly, wagmi.sh is a TypeScript tool for Ethereum. It offers a comprehensive set of features that cover various aspects of working with Ethereum blockchain development.
With over 20 hooks available, developers can seamlessly integrate wallets, ENS, contracts, transactions, and signing into their applications. Besides, it includes a comprehensive test suite running against a forked Ethereum network for thorough testing, among many other features.
Other Popular Crypto Acronyms
Now that you know basically all there is to know about WAGMI meaning and usage, I also want to highlight several other often-used acronyms that every crypto enthusiast should know.
BTD
BTD decyphers to "Buy the Dip". It's employed to persuade investors to buy a particular crypto asset, or crypto in general, when prices are low because they anticipate a possibility of a sharp price increase in the future. There's also a more demanding version - BTFD, which involves a very well-known curse word, which I'm sure you can easily guess.
DYOR
No, it does not refer to a luxury fashion brand. It stands for "Do Your Own Research." This acronym doesn't really have any hidden meaning because it literally means that you should always do your own research before making any investment decisions. Don't just blindly trust what other crypto afficionados say about some project, look into it yourself.
FUD
FUD decyphers to "Fear, Uncertainty, and Doubt" - three emotions that are very prominent in the volatile crypto market. It's a term that is usually used to refer to someone in a negative way. Specifically to someone who spreads misinformation about a certain project or the overall crypto world. However, the term "Fudder" is usually used in place of FUD.
GM
GM stands for "Good Morning". What on earth does it have to do with crypto? Well, for one, it's a term used to spread optimism, extend greetings to others at the beginning of the day (usually on Twitter), and foster a sense of community. However, it also conveys the notion that crypto and NFT owners are "early" adopters and that the industry, or at least a particular project within it, holds enormous promise.
GN
GN decyphers to "Good Night" and is the opposite of GM, obviously. Just like traders tweet GM to start their day, they tweet GN to end it, signaling they are signing out and going to rest.
HODL
HODL is a very popular term that decyphers to "Hold on for Dear Life", meaning that you should hold crypto instead of selling it. However, it actually appeared when a user misspelled the word "hold" in a Bitcoin forum, and only later did it develop into the phrase it stands for today.
IYKYK
IYKYK is short for "If You Know, You Know". It refers to the idea that a post or message may make sense to certain readers but not to others. While it's definitely not a crypto-specific acronym, it is frequently used as a hashtag on Twitter when new crypto projects are introduced.
FOMO
FOMO means "Fear of Missing Out" and is also yet another term that did not originate from the crypto world but is still quite popular in it. The idea of the term is quite literal – it alludes to the worry that if a buyer waits too long to buy a crypto or an NFT, they risk missing out on a significant price increase.
To sum up, while this is not a complete list of the most used crypto slang terms, these are the ones you should definitely know if you want to understand what crypto community members are talking about.
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Conclusions
WAGMI meaning (We're All Gonna Make It) has become very present within the crypto world. Its popularity has spread through social channels, as well as exchange platforms such as Binance, KuCoin, and Kraken.
When we ponder the question of what is WAGMI, we uncover a powerful expression that has both positive and negative effects. On one hand, it fosters a sense of community and belief in the long-term potential of cryptocurrencies; on the other, blindly adhering to it can lead to irrational decision-making or overlooking fundamental analysis.
What’s more, this acronym goes hand in hand with another crypto slang term – NGMI, meaning that the market is filled with different perspectives, which are, at the same time, the result and the cause of the complex psychological dynamics at play within the market.
So, knowing what is WAGMI or what is NGMI in crypto allows you to get into the mindset of crypto traders, and, ultimately, make you more aware of your own trading habits.
Scientific References
1. M. Quiniou: 'Immersion in Web3 and DeGen Community';
2. J. Parra-Moyano, D. Partida, and M. Gessl: 'Your Sentiment Matters: A Machine Learning Approach for Predicting Regime Changes in the Cryptocurrency Market'.
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