- Bitget wallet released a meme coin last week called donotfomoew, repeatedly telling investors that it’s a bad idea to purchase the digital currency.
- Contrary to the developer’s assurances, it was actually an incredibly GOOD idea to buy the coin – at least for one lucky holder.
- An anonymous wallet purchased 4ETH (USD $13K) worth of the meme coin, only for their holdings to explode into the millions within an hour.
Be honest. No matter how “mature” and “risk-averse” of a crypto trader you are, if you’ve ever invested in the digital currencies a little piece of you has dreamed of becoming an overnight millionaire. Every time you reasonably dollar-cost average a sensible amount of money into Bitcoin, the devil on your shoulder is saying “just chuck your life savings into a meme coin.” And most of the time, letting those intrusive thoughts win ends badly – just ask Anakin Skywalker in Revenge of the Sith. But sometimes…just sometimes…it’s good to be bad.
Related: Trader Updates Outlook on Altcoin That’s Exploded Over 1,000% Year-to-Date, Maps Path Forward for Bitcoin
The Token Does Nothing!!! Nothing!!!
The story begins with BitGet Wallet releasing their latest project – Donotfomoew (MOEW)– a meme coin that literally tells its buyers to NOT FOMO invest. In their announcement of the coin, BitGet explicitly states that the project does nothing and is purely a test to examine “the power of memecoins”.
Well, apparently meme coins are akin to conducting alchemy, because they can turn basically anything into gold (or millions). A smart (or lucky…) trader was one of the first to cash in on the new coin, swapping out 4 ETH – valued at around USD $13K – for 388 million MOEW.
Within an hour, that USD $13K (AUD $19.7K) had exploded in value to an absurd USD $1.76M (AUD $2.67M). Unlike many who have shared this situation in the past, this particular trader didn’t get greedy and sold most of his MOEW, taking some (but not all) of his 15,700% gains to the bank.
BitGet, upon hearing the news, doubled-down on their message telling investors NOT to buy the coin…which at this point seems like targeted reverse psychology.
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Source:
https%3A%2F%2Fcryptonews.com.au%2Fnews%2Fa-traders-wild-journey-turning-13k-into-2m-in-one-hour-with-a-memecoin-surge-of-15700-119550%2F