Memecoins
Insiders are buying these meme coins
Meme coins have secured a unique position, captivating an enthusiastic community with their unpredictable fluctuations. Tracer, a DeFi analyst, recently highlighted ten meme coins present in the wallets of various crypto industry insiders.
Tracer says that these select meme coins will likely see notable price increases soon.
The 10 meme coins preferred by professionals
Tracer himself did it uppercase on following these privileged transactions. Watched an insider gain 283x from first information on a meme coin called BRETT.
After the leak was confirmed, BRETT’s value increased, marking a nearly 400% increase in just 30 days. This significant increase strengthened BRETT’s presence in the market and increased its valuation from $1.66 billion to an impressive $1.92 billion. Furthermore, on weekends, BRETT has reached new all-time highs.
To know more: What are meme coins?
BRETT price trend. Source: TradingView
Tracer highlighted the meme coin PONKE, which boasts strong community support and a market capitalization exceeding $196 million. In the meantime, MICHIa meme coin that has become popular for generating thousands of meme avatars, boasts a market capitalization of $120.8 million.
“A meme coin you’ve seen variations of everywhere! Meme generator Michi created thousands of avatars, which helped generate a huge buzz,” Tracer She said.
CWIF is a deflationary meme coin worth over $46 million. His team conducted an airdrop for over 1.3 million owners.
Furthermore, DUKO stands out for its charitable contributions and solid potential within the Solana ecosystem. SMOG expanded from Solana to Ethereum to access a larger market. With its politically themed narrative, Super Trump (STRUMP) offers convincingly tokenomics.
Less known but equally promising are SLOTH, KATA, OPTI and SOLAMA. Each brings unique characteristics that could pique investor interest, especially amid rumors of potential IPOs.
Tracer claims that listing meme coins on major exchanges like Coinbase or Binance typically triggers a 50% price increase. This is mainly due to the sudden increase in liquidity.
This model has consistently generated considerable wealth for those with prior knowledge of such lists.
The transparency of the crypto ecosystem allows transactions to be traced, including those of insiders. This transparency offers more experienced traders a golden opportunity to replicate successful strategies, although it also sparks debates about the fairness of such practices.
Such privileged insights offer a considerable advantage to those who are informed. For example, a BeInCrypto report from last year discussed a significant purchase of Dogwifhat (WIF) from to wallet labeled “binance-insider”, immediately before its listing on Binancetriggering insider trading speculation.
To know more: 7 Hot Meme Coins and Altcoins That Are Trending in 2024
While the allure of quick profits is tempting, the inherent volatility of meme coins requires a strategic approach, emphasizing the importance of informed decision making for profitability.
“Allocate your budget wisely, remember the risks, and be prepared to count your profits,” Tracer said.
Disclaimer
In compliance with Trust Project guidelines, BeInCrypto is committed to providing impartial and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyAND Disclaimer They have been updated.