Market
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 that are present in various crypto insiders’ wallets.
Tracer states these selected meme coins will likely experience substantial price increases soon.
Top 10 Insiders’ Favorite Meme Coins
Tracer himself has capitalized on following these insider transactions. He observed an insider earn 283x from early information about a meme coin named BRETT.
Post-leak confirmation, BRETT’s value surged, marking a nearly 400% increase in just 30 days. This significant uptick enhanced BRETT’s market presence and raised its valuation from $1.66 billion to an impressive $1.92 billion. Moreover, over the weekends, BRETT achieved new all-time highs.
Read more: What Are Meme Coins?
Tracer highlighted the meme coin PONKE, which boasts strong community support and a market cap surpassing $196 million. Meanwhile, MICHI, a meme coin that has become popular for generating thousands of meme avatars, boasts a market cap of $120.8 million.
“A meme coin whose variants you’ve seen everywhere! Meme generator Michi created thousands of avatars, which helped generate huge hype,” Tracer said.
CWIF is a deflationary meme coin valued at over $46 million. Its team conducted an airdrop for over 1.3 million holders.
Additionally, DUKO stands out with its charitable contributions and solid potential within the Solana ecosystem. SMOG has expanded from Solana to Ethereum to access a larger market. With its politically themed narrative, Super Trump (STRUMP) offers compelling tokenomics.
Lesser-known but equally promising are SLOTH, KATA, OPTI, and SOLAMA. Each brings unique attributes that could pique investor interest, especially amid rumors of potential major exchange listings.
Tracer says that listing meme coins on major exchanges like Coinbase or Binance typically triggers a 50% price surge. This is primarily due to the sudden increase in liquidity.
This pattern has consistently generated substantial wealth for those with prior knowledge of such listings.
The crypto ecosystem’s transparency allows tracking transactions, including those of insiders. This transparency provides savvy traders with a golden opportunity to replicate successful strategies, although it also sparks debates on the fairness of such practices.
Such insider insights provide a considerable advantage to those in the know. For example, a BeInCrypto report last year discussed a significant purchase of Dogwifhat (WIF) by a wallet labeled “binance-insider,” just before its Binance listing, igniting speculations of insider trading.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Although the allure of rapid gains 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 get ready to count your profits,” Tracer said.
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