Popular cryptocurrency trader Glauber Contessoto has projected a Reddit-themed memecoin to outperform the social platform’s Initial Public Offering (IPO).  

In a recent social media post on X (formerly Twitter), Contessoto expressed the belief that the memecoin $RDDT will pull in more gains than the Reddit IPO which is currently having a major buzz along social media spaces.

$RDDT To Flip Reddit IPO 

According to him, a surge of the asset to flip the main Reddit stock IPO means victory for cryptocurrency users as users await a rise in their beloved assets. 

“If the meme coin $RDDT flips the actual #REDDIT stock IPO with the ticker symbol $RDDT then we have done our jobs as crypto enthusiasts well and we have fought the good fight and have won! LFG! @RDDTCOIN WE LIKE THE COIN!!!.” 

Following the forecast, cryptocurrency enthusiasts lauded the projection expressing similar views amid be memecoin frenzy in the market. 

Popularly known as the Slum DOGE millionaire among crypto users after making a fortune with the leading memecoin, Contessoto has projected another blistering run for the new memecoin. In 2021 he made $2 million from a $250,000 DOGE investment. 

Dogecoin hit an all-time high in 2021 following a remarkable run that ushered in the recent memecoin frenzy. Launched as a joke, the memecoin ballooned into a billion-dollar joke and gained more after Elon Musk’s Saturday Night Live appearance that year. 

Memecoin Buzz Awakens 

The memecoin market has recorded a massive inflow in the last 24 hours following the Federal Open Market Committee’s (FOMC) meeting to maintain current rates while tipping future rate cuts this year. The move to launch the Reddit IPO has also led to memecoin traders rallying behind another rise in the market. In the last 24 hours, the memecoin market capitalization has soared over 16.2% with some assets making over 100% gains. 

Market leader, DOGE posted a 6% rise in the last 24 hours after slipping 13% within the week. Similar positive results were also seen by Shiba Inu and PEPE. Meanwhile, Reddit has raised $748 million after selling 22 million shares in an IPO that has buzzed social media spaces.

Read Also: Memecoin Market Cap Blasts 14% as Wider Market Gains

The post Dogecoin Millionaire Tips Reddit Themed Memecoin To Outperform IPO appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am