Quote from: Sophokles on Today at 11:54:40 AM

Quote from: jrrsparkles on December 14, 2023, 07:41:33 PM

Someone made 100x returns with a coin called Dogwifhat (WIF) and he bought it just because the logo was cute but in a month the investment turned into 100K due to the Solona DeFi market.

This isn't the first time it has happened with random meme coin but a lot of coins that achieved huge returns went to the grave in no time as well so invest in the right coins if you are looking for long-term investment or just take a gamble and it may pays you off once in a while.

To read about 1000 to 100K journey: Crypto Trader Turns $1K Into $100K on Solana’s Newest Memecoin, Dogwifhat

How do you find the right coin to invest in? Meme coins are one way to wash up illegal money. Sometimes whales use these unknown project to launder their black money and any money that is related to any exploit or hack to cover their footprint. First they create a memecoin with a funny name and then distribute the supply to different wallets to show this project has real investors. Then pump the price with all of those illegal funds and then dump again from those dummy accounts. In this process few dude got lucky and purchases the token and the story amaze us.

Looks like they are group of influencers on twitter promoting this memes on Solana network and new investors who got FOMO always trap in the top without any profit, only devs and this promoters are making money on this scheme so beware joining newly created memes it can dump really fast and lose all your money.