- A trader turned $13,000 into over $2 million within an hour by investing in the new memecoin Donotfomoew (MOEW) on the Base blockchain.
- The MOEW memecoin, created by Bitget Wallet, surged in value shortly after its debut on decentralized exchanges (DEXs) and currently has a market cap of $31 million.
- The MOEW airdrop is eligible for users who held enough BWB points from the Bitget Wallet’s BWB token airdrop, and over 8,000 addresses have received MOEW tokens so far.
A crypto trader has turned a $13,000 investment into over $2 million in profits within just one hour by investing early in a new memecoin called Donotfomoew (MOEW).
The Memecoin Frenzy
The cat-themed MOEW token was created on April 3rd by Bitget Wallet, who stated that MOEW was “just for funsies, nothing too serious.” However, after being listed on decentralized exchanges (DEXs), the token quickly skyrocketed in value.
Trader’s Windfall
According to blockchain analytics firm Lookonchain, the trader first purchased 4.999 trillion MOEW tokens for around $13,000 worth of Ether. Just 10 minutes after the MOEW listing, the trader sold 11.165 trillion tokens for 99 ETH (around $328,000), netting a profit of over $315,000. The trader still holds 38.824 trillion MOEW worth $176 million.
Memecoin Mania
Both existing memecoins like Dogecoin and Shiba Inu as well as new memecoins on Solana and Base have seen their values surge significantly amid the ongoing crypto bull market. For example, Machi Big Brothers, a Solana memecoin created by a Taiwanese musician, saw wild price swings after a $40 million presale.
The Bottom Line
Memecoins remain extremely speculative, but the past year has shown they can deliver life-changing returns for early investors willing to take the risk. This trader was able to turn a small investment into over $2 million in profits thanks to perfect timing and the memecoin mania currently sweeping the crypto world.
