DeFi
Insiders Are Buying These Meme Coins
Meme coins have gained a unique position, captivating an enthusiastic community with their unpredictable fluctuations. Tracer, a Challenge analyst, recently highlighted ten meme coins present in the portfolios of various crypto insiders.
Tracer states that these select meme coins will likely see substantial price increases soon.
Top 10 Insider Favorite Coins
Tracer himself has capitalized on monitoring these insider transactions. He observed that an insider gained 283x thanks to early information on a meme coin named BRETT.
After the leak was confirmed, BRETT’s value surged, 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. Additionally, on weekends, BRETT has reached new all-time highs.
Learn more: What are Meme Coins?
BRETT Price Performance. Source: Trading View
Tracer highlighted the meme coin PONKE, which enjoys strong community support and a market capitalization exceeding $196 million. In the meantime, MICHIa coin that became popular for generating thousands of meme avatars, boasts a market capitalization of $120.8 million.
“A meme piece that you’ve seen variations of everywhere! Meme generator Michi created thousands of avatars, which helped generate huge hype,” Tracer said.
CWIF is a deflationary coin valued at over $46 million. His team carried out an airdrop for more than 1.3 million holders.
In addition, DUKO stands out for his charitable contributions and his strong potential within the Solana Ecosystem. SMOG has expanded from Solana to Ethereum to access a wider market. With its politically themed story, Super Trump (STRUMP) convincing offers tokenomics.
Less known but just as promising are SLOTH, KATA, OPTI and SOLAMA. Each brings unique attributes that could spark investor interest, especially amid rumors of potential listings on major exchanges.
Tracer says that listing meme coins on major exchanges like Coinbase or Binance typically triggers a 50% price rise. This is mainly due to the sudden increase in liquidity.
This trend has always generated substantial wealth for those who had prior knowledge of these inscriptions.
The transparency of the crypto ecosystem makes it possible to track transactions, including those of insiders. This transparency provides savvy traders with a golden opportunity to replicate successful strategies, although it also sparks debates about the fairness of such practices.
Such inside information provides a considerable advantage to those in the know. For example, a BeInCrypto report from last year discussed a large purchase of Dog Hat (WIF) by a wallet labeled “binance-insider”, just before its listing on Binancetriggering speculation about insider trading.
Learn more: 7 Hot Meme Coins and Altcoins Trending in 2024
Although the lure of quick wins is tempting, the inherent consequences volatility 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.
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