The massive gains scored by early investors in meme coins like Pepe ($PEPE) have shown the sector’s explosive potential.
One anonymous trader became an overnight millionaire after purchasing trillions of $PEPE tokens right after launch, setting themselves up for life-changing wealth.
With new meme coins constantly emerging, investors are keen to identify the next potential winners in the space – hoping to become the next “crypto millionaires.”
$PEPE has dominated crypto conversations in recent months following its incredible launch and price rise.
The token debuted on Uniswap in mid-April when meme coin momentum was exceedingly low.
However, through viral social media marketing and enthusiastic community support, $PEPE gained traction and saw its price explode in May.
According to data from CoinMarketCap, $PEPE hit an all-time high of $0.000001265 on May 5 – over 3,500% higher than its launch price.
Unfortunately for $PEPE bulls, this peak was fleeting, and the price has gradually fallen in recent months, now trading 72% below May’s high.
One trader turned a negligible $27 investment into nearly $4 million thanks to their timely $PEPE entry.
As highlighted in a Twitter post from lyx.eth back in April, a wallet beginning with 0xaf23 had purchased 2.5 trillion $PEPE tokens right after launch for a total of $27.
As the hype around the new meme coin took off, the value of those tokens exploded.
Within weeks, the wallet’s holdings were worth close to $1 million as the buying frenzy around $PEPE reached fever pitch.
At the peak of Pepe mania in early May, when the project’s market cap hit $1.8 billion, these tokens would have been worth close to $10 million.
Though $PEPE subsequently declined from its highs, the trader continues holding their tokens, according to data from Etherscan.io.
The trader’s holdings are now worth just over $3 million, and while they missed the chance to cash out at $PEPE’s peak, they remain a multimillionaire off of a tiny $27 investment on an unknown meme coin.
Stories like this have fueled the meme coin craze, with investors hoping to replicate this success through early identification and support of new meme coins.
With new meme coins constantly launching, investors are always searching for the next breakout stars.
Two projects that have quickly gained backing are Sonik Coin and Wall Street Memes, thanks to their strong branding and unique tokenomics structures.
One new meme coin gaining significant traction is Sonik Coin ($SONIK), which has built momentum through its limited-time presale phase.
Tapping into the popularity of Sonic the Hedgehog, $SONIK has raised over $57,000 so far in its presale, with investors able to participate for only $0.000014 per token.
The project’s staking functionality is a major draw, which allocates 40% of the total token supply to rewards for $SONIK holders.
By locking up their tokens, stakers can earn yields as high as 1,027% annually, according to the Sonik Coin dashboard.
$SONIK’s presale has a hard cap of just $2 million, and due to the strength of the early investor demand, there’s a growing belief it could be hit soon.
This could prime the token for subsequent growth once $SONIK lists on Uniswap shortly after.
The combination of an accessible presale, strong meme appeal, and staking rewards has caught the attention of several influencers, with YouTuber Jacob Bury stating it’s one of his top five cryptocurrencies to buy in August.
While meme coins are undoubtedly risky, Sonik Coin’s clever formula could make it one to monitor in the coming weeks.
Visit Sonik Coin Presale
Another meme coin grabbing attention is Wall Street Memes ($WSM), which taps into the viral retail trading movement popularized on Reddit.
The $WSM presale is now nearing its conclusion, raising an incredible $24.5 million across 29 stages, each with its own price point.
With the presale now in its second-last stage, the window is closing for investors to purchase $WSM tokens at the discounted price of $0.0334.
The token’s creators have hinted at plans to launch $WSM on major exchanges immediately after the presale ends, so anticipation is rapidly building.
Wall Street Memes’ huge social media presence has driven presale demand, with the brand boasting over 1.1 million followers worldwide.
Several influencers have also endorsed the project, including Joe Parys Crypto, who has over 380,000 subscribers on YouTube.
As the final stage of the presale approaches, Wall Street Memes looks poised to transition to an exchange listing with massive momentum behind it – priming it to potentially become the next breakout star in the meme coin space.
Visit Wall Street Memes Presale
Disclaimer: The above article is sponsored content, it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post How This Early Pepe Trader Became a Millionaire – Which New Meme Coins Are Investors Backing Now? appeared first on CryptoPotato.
