TL;DR

• Regardless of a common downturn within the crypto market, one Solana-based meme coin noticed important positive aspects, highlighted by a mysterious dealer turning $35,000 into $44 million.
• The coin’s latest success was bolstered by endorsements from outstanding people similar to BitMEX’s co-founder Arthur Hayes.

The crypto sector suffered a major setback previously few days, with main digital property similar to Bitcoin (BTC) and Ethereum (ETH) plunging to multi-week lows. Whereas the market recovered a number of the losses within the final a number of hours, most cryptocurrencies stay in pink territory on a 24-hour scale.

Nevertheless, there are some exceptions, and one instance is the newly launched Solana-based meme coin Cats in a Canines World (MEW).

The token’s worth has surged by over 40% within the final 24 hours, whereas its market capitalization neared the $800 million mark. At the moment, MEW is the 131st greatest cryptocurrency (per CoinGecko’s information), a severe achievement contemplating the truth that it noticed the sunshine of day every week in the past.

The token made the headlines final weekend when it reached an all-time excessive worth. Its rally was accompanied by assist from BitMEX’s co-founder Arthur Hayes, who highlighted MEW’s spectacular efficiency on his X profile.

Earlier this week, the favored entrepreneur and crypto analyst – Lark Davis – revealed the case of a mysterious dealer who turned $35,000 right into a staggering $44 million by coping with the asset.

One other Solana-based meme coin that helped savvy traders make multi-million income is dogwifhat (WIF). As CryptoPotato reported final month, a person bought roughly 2.5 million WIF tokens on the finish of 2023, spending simply $310. At the moment, the stash is value greater than $10 million.

Buying and selling meme cash in the course of the bull market could seem like a sexy funding alternative, but it surely might additionally result in devastating losses as a result of their infamous volatility. In case you are about to hop on the bandwagon, please check out our devoted video under to keep away from some widespread errors associated to the matter: