A savvy trader has bagged a $17,700 profit with just $1.40 of initial capital, thanks to savvy meme coin investing.
This guy bought $1.40 $ORC and sold it for $4,759 then bought $1.74 $CatDog and sold it for $17,700 pic.twitter.com/PPI574tdiq
— Kakashi (@kkashi_yt) July 30, 2024
As Kakashi explains on X, the trader initially started out with $1.40 of ORC.
He then sold this for $4,759. He then purchased $1.74 of CatDog, which he then sold for $17,700.
Kakashi notes that this trader tends to ape into new Solana meme coins with a 0.01 SOL investment.
Readers can track this traders Solana wallet at 6vd8cGfnr46BWpR3JWSAMfytZuXDeWvi8hq2xVfzuoUU.
One user noted that the wallet is probably a bot.
Most probably it's a bot… so.. Just buy random coins…
— Plan E.gfy (@life_shao) July 30, 2024
That means this investment strategy might not be accessible for most retail meme coin traders.
So, what alternative strategies can meme coin investors consider to increase their chances of success.
Well, one often overlooked strategy is in new meme coin presale investing.
Analysts at Cryptonews.com keep a close eye on the meme coin market for promising opportunities.
And one meme coin presale they think shows a lot of promise is an Olympic-themed coin called The Meme Games (MGMES).
Here’s why they rank it as one of their best options for meme coin investing.
The Meme Games – Best New Meme Coin?
The Olympics kicked off last week, and buzz is building as major events like the 100m final near.
But the Olympics hasn’t issued an official token, leaving a gap for crypto market participants to create their own.
One new Olympics meme coin called The Meme Games (MGMES) is staking a strong claim for the spot of the “unofficial” meme coin of this Olympics game.
The Meme Games features five of the top meme coins, which take part in a fun purchase to play and earn the game.
Thanks to its gamification, passive income potential, and relevance to the Olympics, MGMES could catch the zeitgeist in the coming months.
Cryptonews.com’s in-house presale analyst Chester outlines why he thinks Olympics meme coin MGMES has 100x potential.
Everything You Need to Know About MGMES
New meme coin The Meme Games kicked off its presale just a few weeks ago and has already attracted over $300,000 in early investment.
MGMES tokens are currently available for $0.00915 each. Given the 2.024 billion token supply, this values the project at a very modest below $20 million.
But if investors want to get in at a favorable valuation, they better move quickly.
That’s because the MGMES price is set to rise when the presale hits $1 million.
The Meme Games presale runs concurrently with this year’s Olympics in Paris, which concludes on 8 September at the Paralympics closing ceremony.
On September 10, the token will list on decentralized exchanges, and its price is subsequently expected to explode.
MGMES – A Play-to-earn & Passive Income Gem?
Presale investors can bag a solid MGMES bonus if they partake in the project’s play-to-earn game.
To play, presale investors must select one of their favorite meme coin characters. The five options include Dogecoin, Pepe, DogWifHat, Brett, or Turbo.
Their chosen character then competes in a 169m sprint. They have a 20% chance of winning a 25% bonus presale purchase bonus.
Who you backing for the 100m dash?
You can get a 25% bonus on your $MGMES purchase if your meme character wins!
Join the #Presale now.
https://t.co/lbYNWg8iXr#Olympics #Paris2024 #ParisOlympics pic.twitter.com/V1Q5fAlr2o
— The Meme Games (@MemeGames2024) August 1, 2024
MGMES investors should also note that they can earn massive yields on their MGMES bag.
Current staking yields are around 704% APY, per the official website.
At that rate, investors could more-or-less double their initial MGMES bag by the time the presale closes in September.
That said, as the presale gathers pace, the APY will decline.
Nonetheless, MGMES looks set to be one of the best crypto staking coins this summer.
The post Trader’s $1.40 Grows to $17,700 with Meme Coin Investing appeared first on Cryptonews.