Worldsfeed Tech Desk: A Twitter crypto analyst, @lookonchain, has made a fortune by investing in meme coins early. He started by investing $96,500 in Shiba Inu in January 2021 and made a profit of $1.18 million. He still holds some SHIB and has invested in Pepe and Wojak tokens as well. His Pepe and Wojak positions are currently worth $95,000 and $329,000 respectively. The Pepe price has exploded 25,000% in the past two weeks and is up 80% today.
Meme coins like Pepe are volatile and high-risk assets but can also offer high rewards. Altcoin season is well underway for meme coins, with other assets with amusing names and little utility currently outperforming Bitcoin, Ethereum and the rest of the crypto markets. Pepechain (PC), Wall Street Baby (WSB), BOB, Bogdanoff (BOG), HEX, DINO, PPIZZA, REDDIT, MONG, and others have been vying for position on the DEXTools trending crypto list.
During the last crypto bull run, Shiba Inu hit an approximately $40 billion market capitalization, making headlines for its valuation being higher than that of Deutsche Bank. Floki Inu went to a $2.5 billion market cap. The next big meme coin could be Pepe, which is currently at an $820 million market cap. Its uptrend may continue, and it could break out above the $1 billion level. The only meme coins standing in its way from becoming the largest meme crypto on the charts are SHIB with a $5.8 billion market cap and Dogecoin with $10.9 billion.
Crypto expert Altcoin Sherpa’s tweet thread says that meme coins can be one of the easiest ways to make money with cryptocurrency due to their simplicity and being an inefficient market. Our analysts have tipped AiDoge (AI) as a potential outperformer once listed on exchanges, currently undergoing its presale at aidoge.com and passing the $1.5 million milestone. Spongebob (SPONGE) was also listed on Uniswap on Thursday.
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