• Lookonchain made over a million dollars from the Shiba Inu bull run in 2021.
• He then invested in Pepe and Wojak, which are both worth much more now.
• Altcoin Season is underway, with meme coins outperforming Bitcoin and Ethereum.
Trader Predicts & Profits off Meme Coins
Twitter crypto analyst @lookonchain tracked one account that is really good at buying meme coins early – investing $96,500 in Shiba Inu back in January 2021 resulted in profit of $1.18 million, with unrealized gains on the SHIB coins he still holds estimated to be around $2 million. A further investment of $36,000 into Pepe and $61,000 into Wojak tokens has these positions currently worth $95,000 and $329,000 respectively.
Pepe Price Continues to Pump
Pepe coin has experienced an incredible 25,000% increase since two weeks ago along with 1,000% since being listed on centralized exchanges and 80% today. Bybit short positions about to pay 0.75% funding to longs heading into Friday’s daily open could mean even more gains for Pepe holders if it breaks above the current market capitalization of $820 million – having flipped FLOKI as the largest meme crypto on the charts apart from SHIB ($5.8 billion) and Dogecoin ($10.9 billion).
Altcoin Season is Well Underway
Meme coins such as Pepechain (PC), Wall Street Baby (WSB), BOB, Bogdanoff (BOG), HEX, DINO, PPIZZA, REDDIT, MONG among others have been performing well against Bitcoin and Ethereum during altcoin season – though they remain volatile assets with high risk but also potential high reward investments due to their low cost entry points compared to other cryptos like BTC or ETH..
What Can We Learn?
The success of @lookonchain serves as a great example of how early investments can pay off huge dividends when it comes to crypto investing – particularly with meme tokens rising so quickly right now – though investors should always exercise caution when looking at volatile assets such as these..
Conclusion
As altcoins continue their uptrend against Bitcoin & Ethereum this summer season they could be a great way for investors to diversify their portfolios away from traditional cryptos like BTC & ETH – however caution must always be exercised when dealing with volatile assets like meme tokens which can see huge swings in either direction without warning!
