What is WAGMI and NGMI? Decoding crypto slang with examples
Abbreviations WAGMI and NGMI are often used by crypto enthusiasts. But what do they mean? It is time to figure it out.
These words gained their crypto presence in 2021 when the WallStreetBets community created an initiative aimed against Wall Street hedge funds that were actively shorting cryptocurrencies. They used the term WAGMI to encourage others to join their campaign. WallStreetBet opponents fought back with the hashtag NGMI.
What is WAGMI?
WAGMI is an acronym that means “We all gonna make it”. It is mainly used by investors that hope to become rich after making a cryptocurrency investment.
Tweet using WAGMI regarding BTC.
“WAGMI” is also used regarding a particular project when it implements some positive updates, announces airdrops, or shows a price increase. Crypto traders use this acronym when they open a long position or buy a coin during a bear market.
Tweet using WAGMI regarding NFT collection.
The phrase “We're All Going to Make It” has a strong psychological impact. It reminds the crypto enthusiast that he is not alone. There is a whole community standing behind him, ready to support the price of some asset or NFT collection together. Hence, this acronym is often used by people who want others to cheer up and stay positive.
The user celebrates the integration of SHIB tracker into Twitter.
In a broad sense, WAGMI is about getting profit and success in the cryptocurrency industry, or the hope that this will happen soon. For instance, a user buys an NFT from a new low-cost collection, then he finds other NFT holders and together they encourage others to join their community using this catchphrase.
What is NGMI?
The NGMI is the exact opposite of WAGMI. NGMI stands for “Not Going to Make It”. It is used by people who believe that the project will fail and will ruin the investors. In a broad sense, the abbreviation is used when the market falls.
It can also be used in situations like a sale at loss, devs failing to deliver on pledges that were present in a project roadmap, and suspicions of rug pull or pump and dump schemes.
The user is frustrated by the project devs, so he uses the word NGMI.
You can use the abbreviation NGMI regarding yourself if you have invested in a project, but the investment did not bring the expected result.
The user is clearly unhappy with his current state of affairs.
NGMI can also be used as a tool to harass somebody. During a heated discussion, one user can call the project his opponent trusts NGMI.
Beyond that, the acronym is loved by NFT proponents who use it against people who criticize non-fungible tokens. The word can also be used when referring to users who short crypto during a negative trend in the market.
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