How An Early Investment in Dogecoin Made This Investor a Millionaire: Which New Meme Coins Could Be Next?
Given the crypto market’s fast-moving nature, fortunes can be made and lost in the blink of an eye.
Dogecoin ($DOGE) defied all the odds and turned early investors into millionaires during its bull run, launching an era of meme-based cryptocurrencies.
Now investors are looking for the next wave of meme coins that could be the fabled crypto “millionaire makers.”
Dogecoin Millionaire Learns Valuable Lessons in the Meme Coin Landscape
Dogecoin was the first meme coin to gain significant mainstream attention, solidifying its place in the history of the crypto market.
From January 2021 to May 2021, the $DOGE price rocketed over 10,000%, marking the first time a crypto asset driven by social media hype had experienced such an astronomical surge.
This event forever altered the perception of what is possible in the world of cryptocurrencies since it demonstrated the immense power of community-driven enthusiasm.
One notable outcome of Dogecoin’s unprecedented surge was the emergence of the legendary “Dogecoin millionaire” – an individual who transformed an early $DOGE investment into a life-changing fortune.
According to a CNBC article, Glauber Contessoto invested $250,000 in $DOGE in February 2021, and by April 2021, he became a millionaire on paper.
However, despite his initial success, Contessoto’s decision to hold onto his Dogecoin investment without taking profits proved to be a risky move.
As the hype around Dogecoin subsided, the price of the meme coin came crashing down – eroding a significant chunk of his paper gains.
Fast forward to the present day, and Contessoto has embraced his past and become an influential voice on Twitter – sharing insights and offering advice to fellow crypto enthusiasts.
In retrospect, many experts suggest that he could have benefited from taking profits during the peak of Dogecoin’s surge and diversifying into other promising projects.
By realizing gains at the right time, Contessoto may have mitigated the potential losses incurred during the $DOGE downfall, yet this wasn’t the approach he took.
Ultimately, hindsight serves as a stark reminder that effective risk management is key to maximizing outcomes in the crypto market – something that meme coin investors may wish to bear in mind going forward.
Which Meme Coins Could Be the Next With Potential?
With Dogecoin setting a precedent for what’s possible with meme coin investing, investors are eagerly searching for the next “millionaire makers” in the market.
Two promising candidates have recently emerged, Wall Street Memes and Thug Life, aiming to capture the imagination of meme coin enthusiasts worldwide.
Wall Street Memes Raises $11.5m As Investor Excitement Reaches Fever Pitch
Wall Street Memes ($WSM) is a community-driven project that leverages the immense power of the Reddit subculture.
The core values of Wall Street Memes are designed to resonate with investors who have rallied behind meme cryptos in the past, making $WSM a particularly appealing prospect.
Since emerging last month, Wall Street Memes has made itself known to the masses – raising a staggering $11.5 million through its ongoing presale.
The presale has been an instant hit due to its 30-stage setup, which increases the $WSM price incrementally between stages.
Currently, $WSM is available to purchase for just $0.0307 – although with over two-thirds of the presale allocation already gone, investors may need to act fast to take advantage of these prices.
The low purchase price has led to tremendous growth and momentum behind the project, evidenced by the influx of new members to the Wall Street Memes Telegram channel.
Additionally, the project has already been on the radar of some high-profile crypto influencers; for example, Michael Wrubel, who boasts over 310,000 subscribers, posted a video breakdown of the project.
Overall, Wall Street Memes looks set to continue growing – positioning itself as a potential meme coin leader.
Visit Wall Street Memes Presale
New Contender Thug Life Disrupts Meme Coin Market with Huge Presale Launch
Thug Life ($THUG) is another brand-new meme coin that has gained huge attention from retail investors.
This fresh project centers around hip-hop culture and the essence of resilience while fostering a sense of camaraderie within the community.
The $THUG token has generated significant buzz through its presale phase launch, which has amassed over $140,000 in just two days.
Early investors can buy $THUG tokens for just $0.0007, presenting an appealing opportunity for those seeking the next meme coin sensation.
Importantly, the Thug Life team has already pledged to lock liquidity for three months once the token makes its DEX debut – protecting investors from rug pull scenarios.
Also, 70% of the total $THUG supply has been set aside for presale investors, demonstrating the team’s commitment to fostering a strong community.
This setup seems to be bearing fruit, with over 2,400 people following the Thug Life Twitter account already.
In addition, crypto influencer Jacob Bury uploaded a video discussing $THUG, stating that he thinks the token’s price could 10x after its DEX listing.
Ultimately, the future looks exceedingly bright for Thug Life – setting the stage for a solid second half of 2023.
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Filed under: Bitcoin - @ June 30, 2023 12:15 pm