GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

WIF Traders Raking Millions As Analyst Backs Meme Coins To Spearhead Crypto Rally

Andrew Kang of Mechanism Capital, a crypto venture fund, thinks meme coins have evolved and shouldn’t be considered lowly. In a post on X, Kang argues that meme coins are no longer a “last resort” investment but an emerging sector constantly attracting millions of investors.

Investors Should Change Strategy?

If anything, the analyst thinks, top meme coins like BONK, HONK, and others may spearhead the next market surge. For this reason, and considering the potential of meme coins, investors, the analyst said, should consider adapting their strategies or risk “dying.”

Another observer on X endorsed this observation. Replying to the post, the analyst said meme coins have been driving the market for months. Top meme coins like PEPE and others from Solana and Ethereum layer-2 platforms have increased.

The fact that meme coin prices are defying gravity and cryptocurrencies are concurrently rallying suggests that they are no longer reliable indicators for calling tops.

In the past, whenever there was a pivotal expansion of meme coin prices, most analysts interpreted the move as a signal that the crypto rally might end.

However, this is rapidly changing. In this cycle, the analyst said meme coins are resilient and that there is an unconventional altcoin rotation, which means the landscape is changing.

Meme Coins On Fire: Traders Raking Millions From PEPE, WIF

While there are doubts about the sustainability of meme coins, considering they mostly lack utility and are speculative, top tokens, especially PEPE, outperform Bitcoin and Ethereum. Recently, PEPE soared to register fresh all-time highs, printing new crypto millionaires.

PEPE price trending upward on the daily chart | Source: PEPEUSDT on Binance

Lookonchain data shows that after purchasing 6.1 million WIF for $5,879 in December 2023, one trader now holds $23.7 million worth of the coin. With this return, the trader posted an impressive ROI of 1,197x.

WIF and meme coins traders in profit | Source: @lookonchain via X

The trader is not the only one. Another recently sold all their WIF holdings for $2 million worth of SOL. Lookonchain data notes that the trader has also profited from BONK and Boden.

Platforms are also realizing the importance of tokens like BONK or HONK. Since they are speculative and without complex roadmaps, they attract new investors keen on exploring crypto and the multiple platforms in the space.

Aware of the potential of this industry, the Avalanche Foundation recently launched the Memecoin Rush program. Accompanying their announcement, Eric Kang, BD Manager at Ava Labs, said meme coins have “become a cornerstone of Web3, representing the uniqueness and interests of diverse crypto communities.”

Latest Press

post-thumbnail
News
3 hours ago
BYDFi Launches Contract Copy Trading Leader Participation Program with Up to 30% Profit Sharing
The post BYDFi Launches Contract Copy Trading Leader Participation Program with Up to 30% Profit Sha...
READ MORE
post-thumbnail
News
3 hours ago
Interpol Hunts Hayden Davis as WOLF and LIBRA Scams Leave Investors $40M in Ruins!
The post Interpol Hunts Hayden Davis as WOLF and LIBRA Scams Leave Investors $40M in Ruins! appeared...
READ MORE
post-thumbnail
News
3 hours ago
North Korea’s $1.14 Billion Bitcoin Stash Puts It Among the Top 3 Government Holders
The post North Korea’s $1.14 Billion Bitcoin Stash Puts It Among the Top 3 Government Holders appe...
READ MORE
post-thumbnail
News
3 hours ago
Pakistan Launches Crypto Council to Regulate Blockchain and Digital Finance
The post Pakistan Launches Crypto Council to Regulate Blockchain and Digital Finance appeared first ...
READ MORE
post-thumbnail
News
3 hours ago
Trump’s Bitcoin Reserve Plan Backfires: European Central Bank Warns of Crypto Market Crash
The post Trump’s Bitcoin Reserve Plan Backfires: European Central Bank Warns of Crypto Market Cras...
READ MORE
post-thumbnail
News
3 hours ago
Ripple Lawsuit News: Ex-SEC Lawyer Says There is No Such Thing As ‘Private Settlement’
The post Ripple Lawsuit News: Ex-SEC Lawyer Says There is No Such Thing As ‘Private Settlement’ ...
READ MORE
post-thumbnail
News
3 hours ago
XRP Price Prediction For March 17
The post XRP Price Prediction For March 17 appeared first on Coinpedia Fintech News XRP is showing a...
READ MORE
post-thumbnail
News
3 hours ago
Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves
The post Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves appeared first on ...
READ MORE
post-thumbnail
News
3 hours ago
Ripple News Today: XRP Proposal Aims to Unlock $1.5 Trillion for Bitcoin Reserves
The post Ripple News Today: XRP Proposal Aims to Unlock $1.5 Trillion for Bitcoin Reserves appeared ...
READ MORE
post-thumbnail
News
3 hours ago
Will Shiba Inu Reach $1 in 2025? Not a Chance, But This Token Will Do It in Under 2 Months 
The post Will Shiba Inu Reach $1 in 2025? Not a Chance, But This Token Will Do It in Under 2 Months�...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started