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Sundayfunday.sol’s Meme Coin Bet Turns $2,275 into $2.26 Million

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Meme coins have become the Wild West of the crypto space, offering both high rewards and significant risks. Over the weekend, on-chain tracking platform Lookonchain noticed that some crypto whales had engaged in substantial meme coin transactions, with some recording gains while others witnessed losses.

This activity showcases the allure and volatility of meme coins, where fortunes can be made overnight.

Wild Weekend for Meme Coins

According to Lookonchain, the address sundayfunday.sol turned 13 Solana (SOL), worth about $2,275, into $2.26 million in just 8 hours by buying the 1DOL meme coin. From this transaction, they earned a staggering 993x return.

Lookonchain further noted that sundayfunday.sol is the largest participant in the BOOK OF MEME (BOME) presale. They had spent 421 SOL (about $72,000) to buy BOME.

Sundayfunday.sol received 1.43 billion of BOME, valued at $40 million during the asset’s peak price. They then sold 530 billion BOME for 38,305 SOL, roughly $7.66 million, and currently hold 894 billion BOME, valued at $10.5 million.

Read more: Book of Meme (BOME) Price Prediction 2024/2025/2030

Sundayfunday.sol's 1DOL Transactions.
Sundayfunday.sol’s 1DOL Transactions. Source: Solscan

Additionally, Lookonchain noticed that the address “4pV17t9g4qdH3HWZzq6dZ62785pDYhkKUSPai8FHvQTH,” suspected of being the crypto market maker Wintermute, spent 2,000 SOL ($337,000) to buy MANEKI at $0.0098 on May 18. The same address previously spent 1,300 SOL ($201,000) to buy MICHI nine days ago. Following the transaction, MICHI became a popular meme coin over the past week.

In contrast, Lookonchain also reported significant losses among other crypto whales. On May 18, a crypto whale sold 732,481 dogwifhat (WIF), worth $1.85 million, at a loss. This whale initially purchased 732,481 WIF for $2.18 million at $2.98 per coin just three days earlier. The sale at around $2.52 per coin resulted in a loss of $330,000.

Other meme coins like PONKE and 1CAT also marked significant gains over the last 24 hours. DEX Screener data shows 1CAT surged by 1,320% and is now trading at $0.001017. PONKE rose around 54% since May 18 and is currently trading at $0.3458.

The case of these meme coin whales illustrates the thrilling yet risky aspects of meme coin trading. Ken Timsit, managing director at layer-1 blockchain Cronos, emphasized the challenges of trading meme coins. He noted that there is no sure formula for a regular person to trade meme coins.

“Meme coin investors spend a lot of time on X (Twitter), Farcaster, and Discord to get a feel for the community sentiment, and they are able to act on that sentiment within hours. While the dream of overnight riches can be compelling for many people, it is important that users and developers continue to pay attention to other blockchain use cases such as DeFi, Web3 gaming, decentralized social platforms, and decentralized infrastructure,” he told BeInCrypto.

Read more: What Are Meme Coins?

Indeed, this weekend’s events and Timsit’s insight highlight the need for meme coin traders and investors to approach these assets with caution and strategic insight.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Battles Key Hurdles—Is a Breakout Still Possible?

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Bitcoin price started another decline below the $83,500 zone. BTC is now consolidating and might struggle to recover above the $83,850 zone.

  • Bitcoin started a fresh decline below the $83,200 support zone.
  • The price is trading below $83,000 and the 100 hourly Simple moving average.
  • There is a connecting bullish trend line forming with support at $82,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another decline if it stays below the $83,850 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price failed to start a recovery wave and remained below the $85,500 level. BTC started another decline and traded below the support area at $83,500. The bears gained strength for a move below the $82,500 support zone.

The price even declined below the $82,000 level. A low was formed at $81,320 before there was a recovery wave. There was a move above the $82,500 level, but the bears were active near $83,850. The price is now consolidating and there was a drop below the 50% Fib retracement level of the upward move from the $81,320 swing low to the $83,870 high.

Bitcoin price is now trading below $83,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $82,550 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $83,250 level. The first key resistance is near the $83,850 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $84,200. A close above the $84,200 resistance might send the price further higher. In the stated case, the price could rise and test the $84,800 resistance level. Any more gains might send the price toward the $85,000 level or even $85,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $83,850 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,550 level. The first major support is near the $82,250 level and the 61.8% Fib retracement level of the upward move from the $81,320 swing low to the $83,870 high.

The next support is now near the $81,250 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $82,250, followed by $81,250.

Major Resistance Levels – $83,250 and $83,850.



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Is CZ’s April Fool’s Joke a Crypto Reality or Just Fun?

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On April 1, Binance co-founder Changpeng Zhao (CZ) shared an amusing hypothetical on social media platform X (Twitter).

He posed the hypothetical scenario of a user generating a cryptocurrency wallet address commonly used for token burns, which permanently remove tokens from circulation.

Binance’s CZ Shares Cryptic Hypothetical on April Fools Day

Changpeng Zhao’s April Fools’ joke about generating a token burn address sparked discussions. However, the chances of it happening are astronomically low. CZ shared the post during the early hours of the Asian session, kickstarting an interesting discourse.

“Imagine downloading Trust Wallet and finding your newly generated address is: 0x000000000000000000000000000000000000dead. Theoretically speaking, it has the same chance as any other address. Alright, enough imagining. Not gonna happen. Get back to building. Happy Apr 1!” Changpeng Zhao wrote.

It comes in time for April Fools’ Day, celebrated annually on April 1, dedicated to practical jokes, hoaxes, and playful deception. Trust Wallet, integrated as Binance’s non-custodial wallet provider, played along with the joke.

“Happy April Fool’s Day,” wrote Trust Wallet.

While the idea seems far-fetched, CZ was not technically wrong. Theoretically, there is an infinitesimally small probability that someone could randomly generate a wallet address matching “0x000…dead” using software like Trust Wallet.

However, the chances are comparable to winning the lottery multiple times. To put things into perspective, one can generate blockchain addresses using cryptographic hashing functions that produce 160-bit outputs.

This means there are 2¹⁶⁰ possible Ethereum addresses—a number so vast that generating any specific address, such as “0x000…dead,” is practically impossible.

“Haha, imagine the odds! That is a 1 in 2^160 type of vibe. Good one, CZ—back to work now, no distractions from the code,” Synergy Media wrote, putting the rarity into context.

While CZ’s April Fool’s joke entertained the crypto community, the reality remains unchanged. The likelihood of generating a wallet address identical to “0x000…dead” is close to zero. This means the post was a fun thought experiment but nothing more.

“Imagine that you can randomly generate a Bitcoin private key every second, and suddenly one day the private key you generated happens to correspond to Satoshi Nakamoto’s wallet or Binance’s wallet. That’s terrifying,” another user quipped.

However, the joke does highlight the fascinating cryptographic underpinnings of blockchain technology. While every address is technically possible, some are rare and might as well be myths. Crypto users will have to keep burning their tokens the old-fashioned way.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Bulls Fight Back—Is a Major Move Coming?

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XRP price started a fresh decline below the $2.080 zone. The price is now recovering some losses and might face hurdles near the $2.150 level.

  • XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
  • The price is now trading below $2.120 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might extend losses if it fails to clear the $2.150 resistance zone.

XRP Price Faces Resistance

XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.10 levels.

The pair even declined below the $2.050 zone. A low was formed at $2.023 and the price is now attempting a recovery wave. There was a move above the $2.050 level. The price cleared the 23.6% Fib retracement level of the recent decline from the $2.215 swing high to the $2.023 low.

The price is now trading below $2.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.10 level. There is also a connecting bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $2.215 swing high to the $2.023 low.

XRP Price

The first major resistance is near the $2.150 level. The next resistance is $2.1680. A clear move above the $2.1680 resistance might send the price toward the $2.20 resistance. Any more gains might send the price toward the $2.220 resistance or even $2.250 in the near term. The next major hurdle for the bulls might be $2.2880.

Another Decline?

If XRP fails to clear the $2.120 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.020 level.

If there is a downside break and a close below the $2.020 level, the price might continue to decline toward the $2.00 support. The next major support sits near the $1.880 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.050 and $2.020.

Major Resistance Levels – $2.120 and $2.150.



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