Crypto Slang: WAGMI and NGMI

UTC by Ibukun Ogundare · 7 min read
Crypto Slang: WAGMI and NGMI
Photo: Unsplash

This guide will explore the use of two new slangs named WAGMI and NGMI. These slangs are in direct contrast to each other. The first one praises an individual, while the second one insults an individual in a respectful manner. 

Have you ever been to a new environment where communication was difficult because you did not understand the language? Or did it happen that you did not comprehend because of the jargon, slang, and registers used? Every niche, sector, department, and neighborhood has its own parochial word phrase. The cryptocurrency community also makes use of acronyms, slang, and jargon to describe situations. These words allow crypto traders, investors, and developers to discuss easily without giving explicit descriptions. Newbies must take their time to learn crypto slang before venturing into the cryptocurrency sector.

There are many acronyms used in the cryptocurrency sector, including HODL, GM, NGMI, WAGMI, FOMO, DIAMOND HAND, LFG, TO THE MOON, LAMBO, WHALE, and so forth. These words are common in social crypto communities like Twitter, Discord, Reddit, and Telegram. Each acronym stands for a long sentence that indicates a particular action. Here are a few slangs and their meaning: HODL – Hold On to Your Dear Life, GM – Good Morning, FOMO – Fear of Missing Out, among others.

This guide will explore the use of two new slangs named WAGMI and NGMI. These slangs are in direct contrast to each other. The first one praises an individual, while the second one insults an individual in a respectful manner.

WAGMI: We Are Gonna Make It

The term “WAGMI” stands for We Are Gonna Make It. WAGMI is an acronym that shows positivity in an already executed action, a decision made, or a news announcement. The word preaches solidarity among crypto participants who are certain of future success. Regardless of criticism about risky investments, and contrarian moves, WAGMI chanters are well assured of a great outcome from their decisions. There are other variations of the WAGMI acronym, which include WGMI (We’re Going to Make It), GMI (Going to Make It), and YGMI (You’re Going to Make It).

WAGMI is a common slang used outside the crypto sphere. Late Russian-Australian bodybuilder Aziz Sergeyevich Shavershian known as Zyzz popularized the term WAGMI in his motivational video. Since 2011, when Zyzz passed away, the use of WAGMI continued in the fitness sphere before finding its way to crypto. WAGMI gained its crypto presence in 2021 in the WallStreetBets (WSB) community.

How to Use WAGMI

Crypto participants use WAGMI to express a common belief that a project, group, or NFT community will be successful. You can buy an NFT or native token of a project during the pre-sale, and after that, the floor or market price increases. You can share this good news on Twitter, Discord, or Telegram using the word WAGMI. Other investors who share the same belief about the project will respond to the slang. Saying WAGMI shows that you have a belief in the long-term success of the project. You show this belief by holding your NFT against the idea of critics. Using WAGMI began in crypto to ridicule NFTs from the traditional crypto world. Many traditional crypto traders mocked NFT as a worthless asset, saying anyone could save a picture of the NFT to a computer.

NGMI: Not Gonna Make It

The “NGMI” term is the exact opposite of WAGMI. NGMI stands for Not Going to Make It. It is used to label an individual who has taken an action based on a poor decision against the opinion of the majority of the group members. The judging perspective tags someone as NGMI for making a costly financial decision that would fail in the future. NGMI is an indirect way to call an investor a loser or a future loser without offending the person. Crypto community members should use this slang with caution as the negative meaning can cause serious disagreement on a project’s server.

NGMI was first used by JRNY Crypto, a popular Youtuber and NFT influencer. In a tweet, he stated that investors who compare NFTs to the tulip mania are NGMI and will regret doing so. The tulip mania is an ancient Dutch mania of tulip bulbs whose prices spiked up and crashed during the 16th century.

How to Use NGMI

As earlier stated, users should carefully use the NGMI in crypto communities. The slang attacks the foolishness of decision-makers. For instance, if a user purchases a token or NFT and then sells it before an upcoming spike in price, such a user is NGMI. Critics also used this depreciating slang for NFT collection holders who list their NFT price below the floor price.

NGMI can also function as a piece of financial advice to users against an impending danger associated with their decision. Members tagged NGMI can make possible corrections to switch to the WAGMI gang. Considering the economic investment, NGMI individuals are narrow-minded, negative, and highly 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 Meme Coin

Following the widening popularity of the term NGMI, a team of blockchain developers created the NGMI Meme Coin. The Avalanche-based coin has a total supply of 1,000,000,000 tokens in the market. The token uses a reverse Honeypot model, which implies that a user cannot buy back a sold token. Individuals can purchase NGMI tokens for Binance Coin (BNB) on PancakeSwap.

NGMI Coin is one of many coins to be designed based on memes. In 2013, Jackson Palmer and Billy Markus created Dogecoin (DOGE) using the image of Kabuso, a famous Shiba Inu Canine. Since then, Elon Musk‘s favorite meme coin has gained attention and ranks as the 8th largest cryptocurrency by market cap as of December 2022.

Examples of WAGMI and NGMI

There are several use cases of WAGMI and NGMI in the crypto space.

After the price of NFTs skyrocketed, the criticism against NFT projects reduced drastically. Here are a few examples of WAGMI:

  • Early NFT vindicators like PIXELORD quoted WAGMI alongside this quote, saying: “First they ignore you, then they laugh at you, then they fight you, then you win.”
  • Another popular influencer who is also the co-founder of the Pudgy Penguins NFT collection quoted WAGMI. He mentioned the slang while advising collectors to gather experience in the industry instead of being victims of FOMO.
  • A popular Bitcoin analyst, Will Clemente, appreciated his followers who adhered to his BTC analysis during a bearish season. He ended his appreciation with “WAGMI.”

NGMI has been used to describe bad actors and scam projects in the NFT space. Below are some of the use cases of NGMI:

  • Dangiuz (Leopoldo D’Angelo), an NFT artist, has referred to several over-hyped and over-promised as NGMI. He stated that most of these projects use heavy shilling, unlike genuine projects.
  • Ran Neuner, the host of Crypto Banter, a popular YouTube channel, also tagged Solana seller as NGMI. In 2021, he predicted that SOL would outperform ETH.

Bottom Line

WAGMI and NGMI are two opposite words but deeply Interconnected, just like the Chinese philosophical “Yin and Yang.” However, both slangs pass a piece of financial advice to investors. WAGMI pushes investors to gain more tokens or carry out an activity, while NGMI refrains investors from making costly mistakes. Recipients of NGMI should not take slang users to mind; it is only a correctional joke.

Furthermore, these two slangs, alongside others, ease communication in the cryptocurrency and NFT sphere. There is a possibility that the vocabulary book of the crypto sector will register more acronyms as the network expands.

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FAQ

What does WAGMI stand for?

WAGMI is a crypto acronym that stands for “We Are Gonna Make It.” It is a solidarity acronym that shows that a future action, new announcement, trade analysis, or decision will bring a positive result. Other variants of WAGMI include WGMI, GMI, and YGMI. 

How to use WAGMI?

WAGMI encourages positivity in the crypto market, especially in the NFT sector. It is often used to share positive announcements, trading setups, and approval of decisions. WAGMI helps crypto enthusiasts appreciate decisions made by other community members. 

What does NGMI mean?

NGMI stands for Not Going to Make It and is also the direct opposite of WAGMI. It is a negative crypto acronym that throws hurls at an individual, group, or project. Sometimes, crypto participants use NGMI to refer to scam projects and shitcoins. 

How to use NGMI?

NGMI is an abusive acronym used to attach bad luck to decisions made by investors about a token or a project. Someone must use the word carefully, as the recipient might be offended. This is because NGMI is an indirect way of calling someone a fool in the crypto world. 

What is NGMI meme coin?

A group of blockchain developers created a meme coin to depict the NGMI concept. They built the NGMI meme coin on the Avalanche network using a Honeypot mechanism. This mechanism prevents users from buying tokens once they have sold them. You can buy NGMI meme coins with BNB on PancakeSwap. 

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