Memecoins

do traders still make millions with the same coins?

Published

7 months ago

27 May, 2024

BASE joins meme frenzy as BRETT takes off; GFOX set to top lists

Meme coins still generate profits, but not for everyone. Investors told crypto.news how much they were able to earn from the coin hype.

Meme coins posted an astonishing return of 1,313% on average in the first quarter. And this sector does not even think about stopping its growth, bringing traders millions of dollars in profits.

Source: CoinGecko

Huge positive price waves in a matter of days or weeks are natural. But what is it about?

What are meme coins?

Meme Coins are a type of cryptocurrency whose popularity is directly linked to Internet memes and viral social media marketing. Typically, they are initially created as a joke, without any practical function.

The first and most famous token was Dogecoin (DOGE), launched in 2013 based on the popular Shiba Inu dog meme. DOGE was initially intended to be a parody of Bitcoin (BTC). However, over time, this asset has gained a capitalization of a billion dollars.

The main difference between meme coins and traditional cryptocurrencies such as Ethereum (ETH) or Bitcoin is the lack of intrinsic value and issuance restrictions. Their cost depends entirely on demand in the context of the Internet boom, and because of this, meme coins are characterized by increased volatility.

However, recently there has been a tendency to give meme coins greater practical importance. For example, the developers of Shiba Inu (SHIB) and FLOKI are creating their own metaverses, NFT platforms and educational ecosystems based on these assets.

Million Dollar Profit: This Year’s Trend

The number of meme tokens issued increases with enviable regularity and traders manage to make fortunes from them. However, this success is generally short-lived and uncertain. In the long run, as the popularity of the Internet declines, the value of most meme coins tends toward zero.

Presumably, those making millions of dollars from meme tokens have inside information. Otherwise, how would these traders and investors know that the prices of certain coins would experience rapid growth? Crypto.news editors spoke with traders who could make a profit on condition of anonymity.

Frog Investments

The members of Pepe (PEPE) the crypto community celebrates the new all-time high for the frog token. In the midst of this, one user said he turned just $90 into $1.4 million thanks to PEPE.

In mid-April 2023, one trader purchased almost 6.5 trillion PEPE on the market. Uniswap crypto exchange just for fun. Since the initial investment amount was low, the trader did not sell the tokens and decided to monitor what would happen to them.

This decision turned out to be the most correct: in May 2024, 6.5 trillion PEPE made the anonymous trader a dollar millionaire. However, a user with the nickname Mina said that he had no plans to sell PEPE and now believed that one day the price of the frog coin would exceed $1.

“Sometimes I want to sell my PEPE, but I keep it to remind me not to rush. The meme coin market has not yet finished conquering the heights, and it is likely that my PEPE will make me a billionaire in a year.

Mina, anonymous trader

Strong belief in dogs and love of hats

A trader from the Meme Coin Telegram community shared an impressive story of winning on Dogwifhat (Wireless) piece of money. However, this case is different from the inspiring stories of traders whose coins increase 1000 times in an hour.

The anonymous trader used a different strategy: HODL. He purchased WIF in December 2023 and analyzed the overall activity on the Solana network and the growth prospects of the crypto market.

After weighing all the risks, the trader purchased tokens worth around $500, hoping for further growth. As a result, he earned around $15,000 just by keeping assets on his balance sheet.

“I’ve heard stories of traders making billions of dollars in profits starting with just $100. However, as an active participant in the crypto community, I find these stories to be the exception to the rule. The meme coin market is still very opaque and confusing, so inspirational stories about traders are likely simple insider trading.

Member of the Meme Coin community

More conservatism

Another member of the crypto community, nicknamed Andilet, urged caution when investing in meme coins and shared his asset diversification strategy. He advised dividing the crypto portfolio by risk level, with 10% of the portfolio consisting of high-risk volatile coins, including meme coins.

Despite the high risk, allocating a portion of the portfolio to meme coins seemed appropriate, as meme coins are more likely to generate significant profits.

“In general, it is difficult to predict in the long term how the meme market will behave, because in the case of memes everything strongly depends on the hype, the level of which is also difficult to predict.”

Andilet, SHIB investor

He invested in Shiba Inu in the summer of 2023, spending around $5,000 to purchase coins priced at $0.0000077. Now, with a SHIB rate of $0.000025, its assets are worth approximately $50,000.

“I think that in the case of the same corners, an individual approach to each project is important. We can guess the short and medium term trend by studying the project closely.

Andilet, SHIB investor

In summary: to invest or not to invest?

Investing in meme cryptocurrencies represents considerable risk. This can generate a solid profit through speculation, successful exit timing and total capital loss. The main thing is to monitor social media, read the news, be able to search for information, and the first time a media personality mentions a coin, try to get it.

Fuente

Memecoins

Memecoins dominate major derivatives in terms of open interest | Flash News Detail

Published

5 months ago

1 August, 2024

TokenTalk Staff

Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Memecoins

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings

Published

5 months ago

1 August, 2024

TokenTalk Staff

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings

August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.

The viral power of memecoins

Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.

Shiba Inu: riding the wave of popularity

Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.

Ecosystem expansion

THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.

Balancing humor and professionalism

Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.

Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.

Expanding Reach and Adoption

Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.

Why August is the month to invest

As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.

Conclusion: Don’t miss the benefits

Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.

For more information on the Mpeppe presale (MPEPE):

Visit Mpeppe (MPEPE)

Join us and become a member of the community:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Fuente

Memecoins

Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further

Published

5 months ago

1 August, 2024

TokenTalk Staff

Solana climbs 4% on the back of rising Meme Coins and Alts

Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.

As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.

The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.

Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.

Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.

Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.

Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.

In the world of meme coins, when it rains, it rains.

Edited by Stacy Elliott.

Fuente

Memecoins

Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD

Published

5 months ago

1 August, 2024

TokenTalk Staff

Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD

A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.

Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.

“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $66,236.

According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.

Source: Altcoin Sherpa/X

Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.

Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.

Source: Altcoin Sherpa/X

POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.

Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.

“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”

Source: Altcoin Sherpa/X

WIF is trading at $2.27 at the time of writing.

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