The Meme cryptocurrency is on fire, with a wallet that purchased 12.7 million Tongue Cat ($LUIS) tokens on April 4 turning a $221 investment into $197,961 in one day.

Cat memes are now all over the trending charts. There are $MEW, $POPCAT, $BOMEOW to choose from and of course $LUIS, which is ranked number one on DexTools and is up 110% at the start of the European session with a price of $0.0166.

Closer to home, this Meme whale wallet – 9e3LfSt1BvbACZcZVJpwhkKo4414eryjHKJcJ5saR5r6 – entered $LUIS early with a purchase price of $0.00001744, with three transactions completed within the first 45 minutes of listing on April 4.

LUIS Meme Coin Price ChartLUIS Meme Coin Price Chart

Then 16 transactions were made over the next few hours as the wallet owner sold his furry friend, with the last transaction completed at 22:25, when he was calculating the profits. For example, on the second sell transaction, the realized profit at today’s SOL price is $141,188.

Adding up the profits from 16 trades, the return on investment came to $197,961, which is not bad for a day’s work.

tongue cat louis tokentongue cat louis token

Solana is the new home for meme coins, but Base is making waves too

Tongue Cat is built on Solana, a layer 1 blockchain that has overtaken Ethereum as the most popular launch platform for meme coins due to its lower transaction fees and better throughput than Ethereum .

With Bitcoin surging to its recent all-time high of $73,738, the search for the next popular meme coin remains at frantic levels.

$LUIS has pulled back a bit today at the time of writing, but this could very well be the calm before the storm, helping to attract more degans.

That being said, while there are no disruptions like last year and 2022, intermittent congestion is showing up. Solana does seem to be growing rapidly, but cryptocurrencies don’t stand still for long.

Innovation is the watchword for emerging technologies such as blockchain, so there is always a need to be wary of competition. An emerging new contender is Base, an optimistically aggregated Ethereum layer 2 solution from Coinbase.

This aligns well with $BRETT, the leading meme coin on Base with a market cap of $792 million and liquidity approaching $10 million. Maybe Ape isn’t involved, but it might be worthwhile to build a modest outpost for the coming altcoin bull run.

Some may scoff at memecoins, but they play a key role in identifying blockchains that can withstand the stress and popularize adoption. Therefore, it makes sense for both Degen and more sound investors to keep a close eye on the development of the Base meme token.

All presidential meme coins – $TRUMP or $BODEN

Other meme coins worth a look include those centered around the US presidential election meta-trend, with $TRUMP and $BODEN being the stars.

This ERC20 wallet – 0xdb22ca143f6396ad289c79cdfa5cc47f65884162 – made over $5 million after investing thousands of dollars trading the $TRUMP meme coin:

Digging deeper into this trader’s trading history, he purchased 89,280 $TRUMP tokens for $0.0207 on August 13, 2023, when 1 ETH was worth $1,849.

On that trade alone, the trader made $567,764, a profit of $567,764.

You can quickly see what other coins your wallet holds by going to Debank and searching for the wallet address. The largest holding in the portfolio is the $TRUMP token, which currently holds 500,000 tokens worth $3,223,325. All told, including unrealized profits, the $TRUMP whale has made over $5 million in profit.

But is this savvy trader still waiting for another life-changing payday?

While the $MILEI token holds a small stake, confirming this crypto enthusiast’s preference for populist politicians in MAGA mode, BarbieCrashBandicootRFK888Inu (SOLANA) shows more substantial intentions. The memecoin uses the Solana name as its ticker but has no connection to the Solana ecosystem – in fact it runs on Ethereum.

Trump Token Whale WalletTrump Token Whale Wallet

Why early adoption of memecoin crypto could pay huge dividends

Meme coins are valued based on their virality, rather than other factors, which means they are extremely risky even by cryptocurrency standards. However, you can reduce your risk by not betting the bank on a coin and making sure you do your own research.

Finding a YouTuber with a proven track record of picking up hit songs is a great place to start. One such person is Jacob Crypto Bury, whose latest analysis can now be found on the YouTube channel of respected cryptocurrency website 99Bitcoins.

He has earned a reputation for his expert insights into the pre-sale market, where the best early profit opportunities can be found. He likes Dogecoin20 (which will be released on Doge Day in 11 days) and Slothana:

The moral of the story is the importance of getting into memecoins early, and there’s no better way to do it than in the presale. When a trend occurs, go with it. This is what the people behind Slothana hope to do with the $SLERF Sloth Coin.

It looks like many crypto enthusiasts believe that since Slothana has raised over $10 million from contributors in two weeks, there is plenty of room for another sloth to emerge. The coin is also on sale at a fixed price, so today is still the time to buy early.

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Solana cryptocurrency pre-sale Slothana raises $6 million

Disclaimer: Cryptocurrency is a high-risk asset class. This article is for reference only and does not constitute investment advice. You can lose all your capital.


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