Memecoin

BOOK OF MEME

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-whales-make-bold-memecoin-moves" rel="noopener noreferrer nofollow">Crypto Whales Make Bold Memecoin Moves</a><br></p>
<p style="text-align: justify">Memecoin projects have emerged as a high-stakes arena in the cryptocurrency industry, promising substantial returns alongside considerable risks. Over the weekend, blockchain <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">data analysis</a> platform Lookonchain observed significant trading activities by crypto whales. While some traders recorded impressive gains, others faced notable losses, underscoring the volatile nature of memecoins.</p>
<h2 id="massive-gains-in-memecoin-trading">Massive Gains in Memecoin Trading</h2>
<p style="text-align: justify">Lookonchain reported that the address sundayfunday.sol made a remarkable profit by <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investing</a> in the 1DOL <a href="https://en.bitcoinhaber.net/the-rise-and-fall-of-bonk-coin-latest-market-update" rel="noopener noreferrer nofollow">memecoin</a> project. This trader turned approximately $2,275 worth of 13 Solana into $2.26 million in just eight hours, achieving a 993-fold return. Furthermore, sundayfunday.sol was the largest investor in the BOOK OF MEME (BOME) pre-sale, purchasing $72,000 worth of BOME tokens.</p>
<p style="text-align: justify">At the peak of the BOME asset’s value, sundayfunday.sol held 1.43 billion BOME tokens worth $40 million. They later sold a substantial portion, 530 billion BOME, for 38,305 SOL, which is approximately $7.66 million. Currently, they still possess 894 billion BOME valued at $10.5 million.</p>
<h2 id="why-are-memecoins-so-volatile">Why Are Memecoins So Volatile?</h2>
<p style="text-align: justify">Additional analysis by Lookonchain revealed that the address 4pV17t9g4qdH3HWZzq6dZ62785pDYhkKUSPai8FHvQTH, suspected to belong to crypto market maker Wintermute, spent $337,000 worth of 2,000 SOL on the memecoin MANEKI on May 18. This address had previously invested $201,000 worth of 1,300 SOL. Consequently, MICHI became a trending memecoin last week.</p>
<p style="text-align: justify">However, not all traders experienced success. On May 18, a crypto whale sold 732,481 dogwifhat (WIF) tokens for $1.85 million, incurring a $330,000 loss. The whale had initially bought these tokens for $2.18 million just three days earlier at a higher price per token. The sale price of $2.52 per token marked a significant loss.</p>
<h3 id="key-takeaways-for-investors">Key Takeaways for Investors</h3>
<p style="text-align: justify">– Understand the high volatility and risk associated with memecoins.<br> – Significant gains and losses can occur in short periods.<br> – Large transactions by whales can indicate upcoming trends.<br> – Thorough research and caution are essential before investing.</p>
<p style="text-align: justify">Other memecoin projects like PONKE and 1CAT have also seen notable increases recently. DEX Screener data indicates that 1CAT surged by 1,320%, now trading at $0.001017. PONKE has risen by approximately 54% since May 18 and is currently valued at $0.3458.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-whales-make-bold-memecoin-moves" rel="noopener noreferrer nofollow">Crypto Whales Make Bold Memecoin Moves</a></h5>

Crypto Whales Make Bold Memecoin Moves

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