• A crypto trader made a million dollar profit from the Shiba Inu bull run back in 2021, as well as holding Pepe and Wojak tokens.
• The current Pepe coin price has exploded 25,000% in the past two weeks, with a market cap of approximately $820 million.
• Other rising meme coins include Wall Street Baby (WSB), BOB, Bogdanoff (BOG), HEX, DINO, PPIZZA, REDDIT, MONG etc.
Crypto Trader’s Million Dollar Profit
Twitter crypto analyst @lookonchain tracked one account that is really good at buying meme coins early – making over a million dollars profiting from the Shiba Inu bull run back in 2021. Not only did they make this large amount of money – they are also still holding PEPE and WOJAK tokens from a lot lower down too.
Trader Gets Rich Off Crypto Meme Tokens
To get started in crypto domination, the ‘smart money’ as Lookonchain refers to them invested in Shiba Inu in January 2021 with $96,500. They have taken profit to the tune of $1.18 million so far – and factoring in unrealized gains on SHIB coins still held puts them closer to $2 million. Then $36,000 was invested in Pepe and another $61,000 into Wojak – currently worth around $95,000 and $329 000 respectively.
Pepe Coin Price Continues To Pump
The Pepe price has skyrocketed 25 000% over the last two weeks following its listing on centralized exchanges – up 80% today with Bybit short positions paying 0.75% funding to longs heading into Friday’s daily open. During 2021’s crypto bull run Shiba Inu reached a market capitalization of approximately 40 billion dollars and Floki Inu went up to 2.5 billion dollars market cap too. Could Pepe break out above 1 billion? It remains unseen but it would need to overtake both SHIB ($5.8 billion) and Dogecoin ($10 9 billion).
Altcoin Season Is Here For Meme Coins
Meme coins are volatile high risk assets but also high reward investments – making them an efficient way for investors to make quick profits according to Altcoin Sherpa tweet thread recently covered by our analysts who tipped AiDoge (AI) as an upcoming outperformer once listed on exchanges (currently undergoing presale at aidoge c). Other names include Wall Street Baby (WSB), BOB, Bogdanoff (BOG), HEX DINO PPIZZA REDDIT MONG etc all vying for position on DEXTools trending crypto list.
Conclusion
Meme coins have been gaining popularity lately due their volatility despite being a high risk asset class and can provide quick profits for savvy investors if done correctly or could result in substantial losses if not managed properly due its nature of being an inefficient market place . Investing into such cryptocurrencies should be done carefully after doing research regarding their competition , market capitalization , liquidity etc .