{"id":610487,"date":"2024-05-29T19:30:47","date_gmt":"2024-05-29T19:30:47","guid":{"rendered":"https:\/\/wncen.com\/?p=610487"},"modified":"2024-05-29T17:58:50","modified_gmt":"2024-05-29T17:58:50","slug":"wif-traders-raking-millions-as-analyst-backs-meme-coins-to-spearhead-crypto-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/meme-coins\/wif-traders-raking-millions-as-analyst-backs-meme-coins-to-spearhead-crypto-rally\/","title":{"rendered":"WIF Traders Raking Millions As Analyst Backs Meme Coins To Spearhead Crypto Rally"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Andrew Kang of Mechanism Capital, a crypto venture fund, thinks meme coins have evolved and shouldn&#8217;t be considered lowly. In a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/Rewkang\/status\/67447843\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">post<\/span><\/a><span data-preserver-spaces=\"true\"> on X, Kang argues that meme coins are no longer a &#8220;last resort&#8221; investment but an emerging sector constantly attracting millions of investors.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Investors Should Change Strategy?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">If anything, the analyst thinks, top meme coins like <a href=\"https:\/\/wncen.com\/news\/company\/these-three-meme-coins-will-outperform-pepe-and-bonk-in-may\/\" target=\"_blank\" rel=\"noopener \">BONK<\/a>, 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 &#8220;dying.&#8221; <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/crypto-macro-bullish-expansion\/\" target=\"_blank\" rel=\"noopener \">Crypto Expert Says Market Has Begun A Macro Bullish Expansion \u2013 What This Means For Bitcoin And Altcoin Prices<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">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. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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. <\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Meme Coins On Fire: Traders Raking Millions From PEPE, WIF<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">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.<\/span><\/p>\n<figure style=\"width: 1787px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/4IxEy2A4\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/4IxEy2A4\/\" alt=\"PEPE price trending upward on the daily chart | Source: PEPEUSDT on Binance\" width=\"1787\" height=\"904\"><\/a><figcaption class=\"wp-caption-text\">PEPE price trending upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/4IxEy2A4\/\" target=\"_blank\" rel=\"noopener nofollow\">PEPEUSDT on Binance<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">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.<\/span><\/p>\n<figure id=\"attachment_610488\" aria-describedby=\"caption-attachment-610488\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-610488 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?resize=1024%2C454\" alt=\"WIF and meme coins traders in profit | Source: @lookonchain via X\" width=\"1024\" height=\"454\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=2776 2776w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/GOvSnZxbgAAzoRH.jpg?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-610488\" class=\"wp-caption-text\">WIF trader in profit | Source: @lookonchain via X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The trader is not the only one. Another recently sold all their WIF holdings for $2 million worth of SOL. Lookonchain <a href=\"https:\/\/twitter.com\/lookonchain\/status\/47518531\" target=\"_blank\" rel=\"noopener nofollow\">data<\/a> notes that the trader<\/span><span data-preserver-spaces=\"true\">\u00a0has also profited from BONK and Boden.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/time-to-stack-stellar-xlm-analyst-calls-for-epic-500-price-breakout\/\" target=\"_blank\" rel=\"noopener \">Time To Stack Stellar (XLM)? Analyst Calls For Epic 500% Price Breakout<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">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, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.avax.network\/blog\/the-avalanche-foundation-announces-memecoin-rush\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">said<\/span><\/a><span data-preserver-spaces=\"true\"> meme coins have &#8220;become a cornerstone of Web3, representing the uniqueness and interests of diverse crypto communities.&#8221;<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart form TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Andrew Kang of Mechanism Capital, a crypto venture fund, thinks meme coins have evolved and shouldn&#8217;t be considered lowly. In a post on X, Kang argues that meme coins are no longer a &#8220;last resort&#8221; 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 &#8220;dying.&#8221; 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. Related Reading: Crypto Expert Says Market Has Begun A Macro Bullish Expansion \u2013 What This Means For Bitcoin And Altcoin Prices 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. 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. 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\u00a0has 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. Related Reading: Time To Stack Stellar (XLM)? Analyst Calls For Epic 500% Price Breakout 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 &#8220;become a cornerstone of Web3, representing the uniqueness and interests of diverse crypto communities.&#8221; Feature image from Canva, chart form TradingView<\/p>\n","protected":false},"author":384,"featured_media":597342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[428,1946,92459,83767,88145,83626,91711],"class_list":["post-610487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-bitcoin","tag-ethereum","tag-meme-coin-trading","tag-meme-coins","tag-pepe","tag-solana","tag-wif"],"acf":[],"yoast_head":"\n<title>WIF Traders Raking Millions As Analyst Backs Meme Coins To Spearhead Crypto Rally<\/title>\n<meta name=\"description\" content=\"meme coins like WIF, PEPE, and the rest are now part of crypto and might even lead the next bull run. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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