While the cryptocurrency market is awash with new meme coin projects, smart money investing in Shiba Inu (SHIB) and Dogecoin (DOGE) has turned to these 3 meme coin projects! So, which are these 3 meme coin projects? Experts explained…
Smart money took action for these 3 meme coins instead of SHIB and DOGE!
cryptocoin.com As the world of crypto money is developing day by day, some crypto money whales have made millions of dollars from a small investment they made in PEPE, WOJAK and AIDOGE in the past hours, according to the on-chain data announced.
PEPE
A new member of the cryptocurrency market, the frog-themed memecoin project PEPE has garnered great interest from investors since its launch and exhibited an incredible upward momentum. According to the data, a cryptocurrency whale invested just $251 in PEPE and earned $1.68 million in just four days. Similarly, two different crypto whales invested about $2.1k and $3,000 in the same meme coin, earning $1.53 million and $1.39 million respectively. However, all the interest in Dogecoin and Shiba Inu has turned to PEPE. Meme coin PEPE has been very successful in the last 24 hours. According to crypto market monitoring site CoinMarketCap, PEPE is now as high as $0.000000331 after a price increase of 338.34 in the last 24 hours.
WOJAK
Another project of the crypto money market that has attracted attention recently is WOJAK. According to on-chain data, WOJAK hosted two different cryptocurrency whales that made significant profits among meme coin projects. Interestingly, the two cryptocurrency whales invested $4,000 and $2,000 respectively, earning $443k and $65,000, respectively. According to CoinMarketCap data, WOJAK has a market cap of $13.7 million and had a trading volume of $41,415,683 in the last 24 hours. Instantly, WOJAK is trading at $0.0001927.
ArbDoge AI (AIDOGE)
Another project is ArbDoge AI (AIDOGE). The cryptocurrency, which has an instant market value of $ 60 million, has had a volume of $ 194 million in the last 24 hours. A crypto whale reportedly invested $72,000 in AIDOGE and earned around $210k in less than a day, according to the data. It was noteworthy that the investor started trading right after the news about the AIDOGE listing on the Huobi crypto exchange. AIDOGE is currently ranked as the 2608th largest crypto by market cap and is currently trading at $0.0000000002838. The crypto also managed to gain 95.51 percent and 103.56 percent strength against BTC and ETH, respectively.
Experts explained: Should investment be made?
The MEV bot is focused on profiting from front-running memecoins, especially with coins like Pepe, Wojak, and Chad gaining new investor attention. MEV, which stands for “maximum extractable value,” is a strategy that involves manipulating the order of transactions to take advantage of profitable on-chain transactions. Memecoins have seen a remarkable increase in recent days. For example, Pepe token’s value has increased nearly 100 times since April 14, reaching a market cap of $100 million just a week after its launch. Other meme coins like Wojak, Chad, and Arbi Pepe have also seen significant spikes, driven by the excitement of a large number of retail investors and the minimal effort required to create them, as pre-existing smart contract templates are easily accessible on open source software forums.
On the other hand, there are warnings of experts. Memecoins are typically scam based and although they are sometimes traded in high volumes, they often lack sufficient liquidity as they are mainly traded on decentralized exchanges. As a result, they can incur slippage costs, making them ideal targets for MEV bots to exploit through their attacks. That’s why experts advise investors to be careful.
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