What is NGMI in Crypto? When Can You Use This Slang?

Cryptocurrencies disrupted the classic trading markets with financial instruments, securities and a whole set of acronyms and jargon. 

This is probably because a crypto community mainly consists of young investors and enthusiasts who aspire to quick money-making schemes associated with most cryptocurrencies.

Most crypto traders use expressions like NGMI, WAGMI, or FOMO to explain their emotional mindset in a few words. Many use NGMI to describe the state of a digital asset in a four-letter word. Let’s discuss NGMI meaning and other crypto slang you need to learn.

Key Takeaways:

• NGMI is short for “Not gonna make it”, which describes an event or something less likely to happen.
• NGMI is used in crypto trading to communicate the lack of confidence in a particular coin, token, DeFi project or NFT. 
• NGMI usually tags virtual currencies and assets that have a short lifespan and do not provide a real or futuristic value.

Understanding NGMI Meaning

“NGMI” stands for Not Gonna Make It, referring to the inability of an event to happen. This acronym usually carries negative connotations and frustration towards a market event or a financial instrument.

It is mainly used by crypto enthusiasts and digital communities, comprising a younger age demographic and a generation that uses such expressions in daily communication.

What is NGMI in Crypto?

This idiom is primarily used in X Spaces (Formerly Twitter) among crypto traders who describe digital assets and virtual currencies, such as coins, tokens, NFTs and other DeFi projects. You can also see #NGMI in many tweets and crypto discussions on social media platforms. 

Additionally, many online forums and communities on Discord and Reddit use the NGMI slang to describe their attitude towards an upcoming NFT project or a particular cryptocurrency trend.

For example, if the ABC token is new and grabbing some attention from crypto investors and speculators without a real value behind the project, some traders say that this coin is “not gonna make it”. 

Although some investors will be interested in fueling the bullish sentiment for the ABC token, traders who do not believe in the durability of these digital assets say NGMI, referring to the short lifespan of the subject asset.

How is NGMI Acronym Used?

NGMI meaning in crypto may also speculate on a particular virtual coin growth or spark a market bull run. In this instance, crypto traders call on other investors and participants to invest and buy a particular asset; otherwise, the token is “not gonna make it”.

Thus, NGMI can be applied by crypto project founders or influencers who support an NFT, coin or token to motivate and affect other market participants’ decisions.

For example, a supporter of the ABC token mentioned above may say that it is time to invest in this crypto project and buy at a low price, or they will NGMI.

There are different ways to use the NGMI acronym. However, most of them relate to a negative attitude surrounding digital assets or NFT projects. 

Is NGMI Crypto a Bad Thing?

NGMI’s meaning is not necessarily bad. It is the mere expression of one’s view on a crypto market trend, coin, token, NFT collection or a new project. However, it is mostly used in the context of fragile virtual currencies that do not have a solid base or support.

Additionally, many investors use NGMI slang to refer to crypto scams, like pig butchery, pump-and-dumb schemes, or rug pull frauds.

Fast Fact:

In 2022, 24% of 40,500 launched crypto tokens were part of a pump-and-dump scam scheme. 

How to Identify NGMIs?

NGMI acronym is mostly used to describe investors’ lost faith in a virtual currency or an NFT project. 

Therefore, it is important to critically analyse markets and assets that are tagged with NGMI. Here’s what you can do to find and avoid these events.

• Keep up with market trends, especially with newly emerging coins and tokens.
• Don’t take other traders’ words for granted, and do thorough research before making crypto investments.
• Diversify your crypto portfolio to hedge against risky positions and assets labelled as “NGMI”.
• Participate in digital communities, like crypto Twitter or Discord, to discuss and share opinions and sentiments towards crypto assets.
• Use stop-loss to avoid excessive risks when trading with virtual currencies or tokens that have low potential or are not gonna make it.

Crypto Slang: NGMI vs. GMI vs. WAGMI

Stocks and Forex are classic financial markets, and you are less likely to find investors using similar language. However, cryptocurrencies are relatively younger and most of their communities and members are from mixed generations who use shortened abbreviations and idioms as follows.

GMI

GMI means “gonna make it”, which has a positive connotation regarding investing in a given virtual currency, token or NFT project. GMI is the opposite of NGMI, and it is used to express excitement and confidence in the potential of a particular product, motivating other investors to join and buy.

WAGMI

WAGMI means “We all gonna make it”, which also has a positive impression regarding a crypto coin, token, or NFT. WAGMI is used in the crypto world to motivate investors and show confidence in the subject product. Crypto traders usually use WAGMI to spur a bull run in the market by encouraging everyone to buy a particular asset.

NGMI

NGMI means “Not gonna make it”, which comes with a negative connotation when investing in an NFT project, coins or tokens. Traders use it to describe the lack of confidence in a particular project, deterring other investors from buying it due to the low potential and confidence in its growth.

Conclusion

NGMI is an internet slang term used in the crypto space among investors and traders who want to express doubt and opinions regarding a crypto coin, token, NFT or DeFi project. 

NGMI meaning is usually associated with short-term digital assets that have a low potential for growth, reflecting investors’ lack of confidence.

NGMI, or not gonna make it, is one of the other crypto acronyms and understanding what does NGMI mean entails analysing and researching the market and subject assets before making investment decisions.