TL;DR
- Despite the overall downturn in the crypto market, one Solana-based meme coin has seen a significant rally, highlighted by a mysterious trader who turned $35,000 into $44 million.
- The coin’s recent success has been strengthened by support from notable figures such as BitMEX co-founder Arthur Hayes.
The crypto sector has suffered a significant setback over the past few days, with major digital assets such as Bitcoin (BTC) and Ethereum (ETH) falling to multi-week lows. Although the market has recovered some of its losses in the past few hours, most cryptocurrencies are still in red territory on a 24-hour scale.
However, there are some exceptions, such as the newly launched Solana-based meme coin Cats in a Dogs World (MEW).
The token’s price has surged more than 40% in the past 24 hours, pushing its market cap closer to the $800 million level. Currently, MEW is his 131st largest cryptocurrency (according to CoinGecko data), a significant achievement considering the fact that it saw the light of day a week ago.
This token made headlines last weekend. Arrived Highest price ever. The gathering was also accompanied by support from BitMEX co-founder Arthur Hayes, who highlighted his MEW’s impressive performance on his X profile.
Earlier this week, popular entrepreneur and crypto analyst Lark Davis said: revealed The case of a mysterious trader who turned $35,000 into an astonishing $44 million by trading assets.
Another Solana-based meme coin that has helped savvy investors make millions in profits is dogwifhat (WIF).as crypto potato report Last month, an individual spent just $310 to purchase approximately 2.5 million WIF tokens at the end of 2023. The stash is now worth more than $10 million.
Trading meme coins during a bull market may seem like an attractive investment opportunity, but their notorious volatility can also lead to devastating losses. If you’re looking to jump on the bandwagon, watch our dedicated video below to avoid common mistakes related to this subject.
