How to make money with Degen?

I'm curious to know, what strategies can one employ to potentially earn from the volatile world of Degen investments? Do you recommend diversifying one's portfolio with Degen tokens, or is it wiser to focus on a select few? Also, what's your take on the risks involved in pursuing this path, and how can investors mitigate them? Finally, are there any particular projects or trends within the Degen space that you think hold particularly promising earning potential?