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Recent rise in Memecoins generates significant profits for traders » The Merkle News

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Recent rise in Memecoins generates significant profits for traders » The Merkle News

The recent surge in memecoins continued to generate substantial profits for traders. Notably, one trader earned a remarkable $1.17 million from his investments in $GME and $AMC.

On May 13, following @TheRoaringKitty’s return to publication.

As of now, the value of the trader’s holdings of $GME and $AMC have skyrocketed to $4,536 SOL (a 7x increase) and $4,590 SOL (a 14x increase), respectively.

Another adept trader took advantage of the memecoin frenzy, earning $576,000 on $GME in less than two days. This trader, perhaps inspired by @TheRoaringKitty, spotted the opportunity just 8 minutes after the influential post and invested $200 SOL ($29,000) to acquire $43.86 million in $GME.

After the price surge, the trader sold $6.12 million GME for $400 SOL ($58,000), doubling the initial investment with $200 SOL in realized profit.

More Whale Traders Are Shifting Toward Memecoins Following Recent Retracement

When the price of $GME fell, the trader reinvested the $200 SOL profit to buy $4.14 million of GME at a lower price. A few hours ago, they sold $11.88 million GME for $1,358 SOL ($198,000), leaving $30 million GME valued at $378,000.

Despite a 20% drop in the price of $GME over the past 24 hours, two newly created wallets benefited from the decline. These wallets withdrew $3,045 SOL ($438,000) from Kucoin and purchased $22.79 million of GME at an average price of $0.019, demonstrating continued interest and strategic trading in the memecoin market.

Recent activity in memecoins like $GME and $AMC highlights the dynamic nature of the cryptocurrency market, where timely investments and quick responses to market trends can generate significant returns.

Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.

Follow us on twitter @themerklehash to stay up to date with the latest news on Crypto, NFT, AI, Cybersecurity and Metaverse!

Image source: Alfazetchronicles/123RF // Image effects by Colorcinch



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Memecoins

GameStop extends losses to 60%, Solana Meme GME plunges 25% as Meme Token rally fades

TokenTalk Staff

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GameStop extends losses to 60%, Solana Meme GME plunges 25% as Meme Token rally fades

The controversial rebound in GameStop (GME) shares had its second day of reversal on Monday, ending the U.S. trading session down 12% after a drop of 40% on Friday This has weighed down some meme tokens that tend to mirror the stock’s movements.

GME ended Monday at $24.89, down 62% from last Thursday’s two-year high of $61. Elsewhere, Solana-based meme token GME, which parodies the company, slipped 25%, reversing a rally of more than 200% over the past seven days.

Related tokens like Roaring Kitty (KITTY) and some cat-themed tokens, which previously traded alongside GME stock, lost on average at least 10%, according to data tracked by CoinGecko.

Dog-themed tokens doge (DOGE), shiba inu (SHIB), and floki (FLOKI) pared last week’s gains, from 4% to 10%.

The stock has moved wildly since late May due to the apparent return of retail trader and GME bull Keith Gill for the first time since 2021. Gill, known by his aliases @TheRoaring Kitty and “DeepF*uckingValue,” was a key figure in the evolution of the title. short-term rally in 2021.

Gill introduced a $580 million position in GME shares and options last week, which sent the stock price soaring and put him on track to reach a potential exposure position of a billion dollars.

However, the gains were erased after the company announced it would sell up to 75 million shares, days after making $933 million by selling 45 million shares. It also reported a drop in quarterly sales, dampening investor confidence.

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Memecoins

12-Month Crypto Gains: Meme Coins Take 7 of Top 10 Spots – Bitcoin News Market Updates

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12-Month Crypto Gains: Meme Coins Take 7 of Top 10 Spots – Bitcoin News Market Updates

https://news.google.com/./articles/CBMiU2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS8xMi1tb250aC1jcnlwdG8tZ2FpbmVycy1tZW1lLWNvaW5zLXRha2UtNy1vZi10b3AtMTAtc3BvdHMv0gEA?hl=en- US&gl=US&ceid=US%3Aen

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Memecoins

Bubblemaps alleges insider trading on memecoins promoted by Andrew Tate and Iggy Azalea

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Bubblemaps alleges insider trading in memecoins promoted by Andrew Tate, Iggy Azalea

The Bubblemaps blockchain analysis platform has allegations made significant insider trading activity in memecoin projects recently promoted by Andrew Tate and Iggy Azalea.

Despite evidence of wallets purchasing significant amounts of tokens during and ahead of their respective launches, there is no evidence linking them to Tate or Azalea.

The allegations, shared via tweet threads, attracted considerable attention within the crypto community. Some called out alleged insider trading, while others said there was no such thing as a fair memecoin launch and that such events were commonplace.

Andrew Tate and the $DADDY piece

However, Bubblemaps claimed in a June 12 thread that insiders purchased 30% of the $DADDY coin supply at launch, accumulating more than $45 million across 21 wallets.

On June 9, a transaction moved 40% of $DADDY’s supply to Tate’s wallet before he began promoting the coin on social media. Tate has publicly stated that he will not sell any tokens and continues to hold them.

However, on-chain data shows that several wallets purchased around 20% of the supply before the project was announced. According to Bubblemaps:

Bubblemaps wrote:

“11 wallets, funded via Binance with almost identical amounts at the same time, purchased 20% of $DADDY on June 9, before @DaddyTateCTO’s first tweet.”

These wallets now hold approximately 19% of the total supply, valued at $30 million. The company added that any significant sales of these wallets could impact the liquidity of the coin.

The company also alleged that the wallets were related and potentially belonged to the “same group.” Bubblemaps wrote:

“Since they [the wallets] are funded through Binance, we cannot 100% confirm that they belong to the same group. However, the timing and amounts strongly suggest that this is the case.

Additionally, two other clusters, linked via a specific wallet, purchased 10% of the supply ahead of Tate’s promotional activities. These clusters currently hold tokens worth $16 million.

Bubblemaps said Tate has not sold his tokens, but the 40% of the total supply he holds – valued at $64 million – remains intact and could affect the market if sold.

It is important to note that while these wallets show suspicious activity, there is no concrete evidence directly linking the addresses to Tate or his associates. These conclusions remain claims based on transactional models.

Tate responded to the allegations on social media and reiterated that he had no plans to sell the tokens sent to him. He further stated that he would only burn the tokens, in writing:

“I will never sell what was sent in my wallet, I will only burn it and buy it. Forever. Diamond hands.

Iggy Azalea and the $MOTHER piece

Bubblemaps tooallegations avoided of insider trading on the $MOTHER piece at the end of May, promoted by rapper and model Iggy Azalea.

According to the company, insiders purchased 20% of the $MOTHER supply at launch and have since sold $2 million worth of tokens.

The investigation identified a key wallet, which purchased 109 trillion MOTHER tokens before distributing them across seven wallets. Most of these tokens were sold, making a profit of $1.4 million. The remaining tokens are valued at around $400,000 at the time of publication.

Additionally, the wallet transferred funds to other profitable wallets, which collectively earned around $800,000 by selling around 8% of the token supply.

Similar to the $DADDY coin case, there is no concrete evidence linking these addresses directly to Azalea or her associates. These findings are allegations against wallets belonging to unknown entities based on observed transaction patterns.

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Meme season is back! 3 Cryptos to Buy for 100X Gains Before They Go Viral

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meme cryptos - Meme Season Is Back! 3 Cryptos to Buy for 100X Gains Before They Go Viral

Source: Wit Olszewski / Shutterstock.com

Meme cryptos have been doing very well in recent months. Micro-cap meme tokens on many chains took off one after another. This time, however, we see that memecoins on many alt chains are performing well, and they have been driving most of the excitement in the crypto space as of late.

I think the meme rally can continue as long as large-cap cryptocurrencies stay quiet and utility projects continue to decline. Crypto traders will go where the money is, and memecoins offer both money and thrills.

That said, you need to be very careful with these cryptos. You will likely lose money and should treat memecoins as nothing more than lottery tickets. Do your own research and only invest “fun money” in these cryptos once you have the risks in mind. We’ll take a look!

Banana (BAN-USD)

Blue purple vector background.  Bitcoin and blockchain.  Electronic cryptocurrency and modern technology.  Online banking and financial communication.  World Wide Web.  Hot Cryptos to Buy

Source: Vit-Mar / Shutterstock.com

Banana (BAN-USD) is the most “utilitarian” memecoin I have encountered. This cryptography project is a fork of Nano (XNO-USD). Just like Nano, Banano has a peer-to-peer blockchain model that allows completely free transactions. These transactions are very fast and, in theory, infinitely scalable with very little power consumption.

That said, the downside is that you don’t have smart contracts or anything flashy except transactions. Banano is also not listed on many major exchanges, although there is an active Reddit community that regularly pushes for listings. People can get more bananas by “bending”. Basically, you can lend your computing power to the healthcare industry for more Banano, which in my opinion makes it very useful compared to most meme cryptos.

This is a memecoin, after all, so I won’t dwell too much on the usefulness. The price is currently at an all-time low with market capitalization of only $8 millionso I think there’s some really good upside potential here.

Trump Mania (TMANIA-USD)

Trump campaign merchandise available for sale in front of the Maricopa County Recorder includes t-shirts, hats, socks, toys and accessories.  Crypto Super Trump, STRUMP

Source: Rebekah Zemansky / Shutterstock.com

Trump mania (TMANIA-USD) is much riskier than Banano. This is a new project that has seen explosive growth recently, but has cooled off. However, I believe there are catalysts ahead that could add more fuel to the fire in the future.

I’ll try not to get political, but Trump will be convicted in July. This could significantly boost this cryptography, as any harsh sentence would exceed the publicity Trump received during his conviction.

Additionally, polls currently show Trump in the lead right now and if we see a shift like we saw last time in many key battleground states, there’s a good chance that he wins. This crypto could profit if it doesn’t die by then, of course.

Hedgehog in the Fog (HIF-USD)

Macro view of miner working for bitcoin mining pool.  Devices and technologies for cryptocurrency mining.  Mining cryptocurrency concept.  MARA action.  Crypto mining.

Source: Yev_1234 / Shutterstock

Hedgehog in the fog (HIF-USD) is a new trendy memecoin on TONNE (TON-USD). Less than a week after its launch, HIF has become the largest meme community in the entire TON ecosystem, which has seen significant growth over the past few months. Memecoins on this channel could also see a lot of hype in the future. This project is very new and has already been listed on a major stock exchange: MEXICO.

Additionally, HIF is now the 2nd pool on TON, only NOT is ahead. As such, they have a fairly large marketing budget, HIF could take off, particularly with the significant support of the KOLs they have, notably Coach K Crypto.

I believe there will be more quotes to come from the same market maker as Beer corner (BEER-USD). Buy crypto early at a Market capitalization of $4 million leaves room for significant upward movements in the weeks to come. Beercoin reached a market capitalization of over $300 million at one point.

As of the date of publication, Omor Ibne Ehsan did not hold (neither directly nor indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.

Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor who focuses on growth and cyclical stocks that have strong fundamentals, value and long-term potential. He is also interested in high-risk, high-return investments such as cryptocurrencies and penny stocks. You can follow it LinkedIn.

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