On April 3, a crypto trader managed to turn a modest $13,000 investment into an astonishing $2 million by investing in the memecoin Donotfomoew (MOEW) on the Base blockchain. This resulted in a remarkable gain of 15,700%. According to blockchain analytics firm Lookonchain, the trader bought 499.9 million MOEW just 10 minutes after the token was listed on decentralized exchanges (DEXs), using 4 Ether (ETH). Less than an hour later, the trader sold 111.65 million MOEW for 99 ETH, which amounted to $328,000. At present, the trader holds 388.24 million MOEW, which is valued at $1.76 million.
The creation of the cat-themed MOEW meme token was announced earlier in the day by Bitget Wallet, who stated that the token was meant for entertainment purposes and to explore the potential of memes. However, shortly after its launch on DEXs, MOEW experienced a significant surge in value and currently boasts a market cap of $31 million. In response to this price movement, Bitget Wallet cautioned users against buying or succumbing to the fear of missing out (FOMO), stating:
“Do not buy, do not fomo.”
During the ongoing airdrop, more than 8,000 addresses have received MOEW tokens. This airdrop is available to users who held enough BWB points to qualify for the exchange wallet’s BWB token airdrop. Over a six-week period, users had the opportunity to earn BWB points by maintaining balances in Bitget Wallet or conducting in-app cross-chain swaps. These BWB points can then be exchanged for upcoming BWB tokens in Q2.
Both established memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), as well as newly minted memecoins on Solana and Base, have experienced significant surges in value during the ongoing bullish market. One such token, Jeo Boden (BODEN), a Solana memecoin parodying United States President Joe Biden, has surpassed a market cap of $250 million. Additionally, Taiwanese music celebrity Machi Big Brother’s Solana memecoin witnessed volatile price action after a $40 million presale earlier in the week.
Source: Bitget Wallet
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