The meme coin space has just witnessed an incredible feat.
One lucky trader has reportedly made over $46 million in profit from their Pepe (PEPE) trade in the past year.
As this success story receives mainstream attention, some analysts are now setting their sights on Dogeverse (DOGEVERSE) as a meme coin that could potentially follow in PEPE’s footsteps.
PEPE Bull Run Turns $3,000 Investment Into $46M Fortune
Imagine turning just a few thousand dollars into a life-changing fortune of $46 million.
One fortunate investor accomplished that by getting in early on the PEPE frenzy.
It all started in April last year when this trader made a $3,000 investment to buy 4.9 trillion PEPE tokens.
At the time, PEPE was just a tiny blip barely registering on the radars of meme coin investors.
But as meme mania began to grip the market, PEPE’s price rocketed.
The trader then systematically sold portions of their token stash, realizing around $7.4 million in profits by offloading 1.41 trillion PEPE.
Yet, even after those massive sales, they still hold 3.5 trillion tokens valued at almost $39 million.
So, combined with the realized gains, that $3,000 punt has transformed into a $46 million windfall.
While returns like this are essentially winning the “crypto lottery,” they demonstrate the immense wealth-building potential that meme coins can offer.
PEPE Hits New All-Time High as Speculative Demand Ramps Up
It’s been a phenomenal week for PEPE as the meme coin frenzy hit a boiling point.
PEPE rocketed by 39% between Monday and Wednesday, hitting a new all-time high of $0.0000115.
The rally appeared to be fueled by the return of Keith Gill, better known as “Roaring Kitty” from the GameStop saga, which reignited interest in “meme assets.”
While PEPE has pulled back by 12% since its all-time high, the token is still holding strong at around $0.0000101 at the time of writing.
Even after the dip, spot trading volumes remain elevated at $1.9 billion – high enough to make PEPE the ninth most traded crypto in the world.
PEPE even has more trading volume than major assets like Dogecoin (DOGE) and XRP (XRP).
Open interest in PEPE perpetual futures has also ballooned to over $114 million as speculators pile in.
Whether this whirlwind of activity is sustainable remains to be seen, but for now, PEPE is undoubtedly leading the charge in the meme coin market.
Could New Meme Coin Dogeverse Give Similar Gains? Analysts See 100x Potential
Although the spotlight is on PEPE, some analysts are turning their sights on the next potential meme coin star, Dogeverse.
This project is looking to benefit from two hot trends – meme coins and cross-chain interoperability.
Dogeverse’s standout feature is its ability to “hyperjump” between different blockchain networks.
This means DOGEVERSE holders can quickly move their tokens between six chains with just a few clicks, unlocking opportunities on different platforms.
But it’s not just this multi-chain capability that has piqued traders’ interest.
Dogeverse also incentivizes token holders by offering 55% annual yields through its staking protocol.
This combination of real utility and meme-inspired fun has helped Dogeverse raise over $15 million in its ongoing presale.
Prominent voices in the crypto community are taking note.
The analysts at Cryptonews predicted that DOGEVERSE could “100x” from its presale price of $0.00031 once it lists on decentralized exchanges.
Similarly, popular influencer Jacob Bury named DOGEVERSE as one of his top meme coin picks to buy right now.
Whether Dogeverse can capture the same viral energy as PEPE remains to be seen.
But the hype is clearly building for this unique multi-chain project to potentially become the next meme coin gem.
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