The meteoric rise of Dogecoin has turned what started as a joke meme coin into one of the most talked-about cryptocurrencies in the world. The “Dogecoin mania” that began in 2021 has proven lucrative for savvy investors who were able to invest early and realize profits at the opportune time.
In this article, we explore how a hypothetical purchase of $DOGE could have yielded a crypto fortune before highlighting two new meme coins that many are tipping to produce similar returns.
Dogecoin’s astronomical surge in 2021 to become one of the top ten cryptocurrencies on the market was nothing short of mind-blowing. $DOGE, initially created as a joke based on the “Doge” internet meme, gained legitimacy through celebrity endorsements – most notably from Elon Musk and Mark Cuban. Naturally, this translated into hype from the crypto community, with Reddit becoming a hotbed for Doge-related discussion.
As a result, between December 2020 and May 2021, the $DOGE price rocketed by over 16,200% – making fortunes for those with the foresight to invest before the bull run. Hypothetically, an investor who opted to put $10,000 in $DOGE at the end of December 2020 would have seen this initial investment balloon to over $1.6 million by May 2021. This price rally, fueled by Reddit hype, turned early backers into fabled “crypto millionaires.”
One of the most prominent examples was the story of Glauber Contessoto, who bought $DOGE when it was only $0.045 – right before Dogecoin’s explosion. Dogecoin’s epic surge illustrates just how life-changing crypto investing can be for those who are able to identify low-cap coins immediately before their price grows exponentially. For investors drawn to high-risk, high-reward “moonshots,” $DOGE was clearly the first to deliver genuinely life-changing returns.
With Dogecoin’s heyday seemingly behind it, meme coin traders are now looking for alternative coins that could provide similar returns. Two brand-new coins that could be viable options in this regard are Shibie Coin and Wall Street Memes – both of which have been making headlines due to the early success of their respective presale phases.
First up is Shibie Coin ($SHIBIE) – an innovative meme coin that combines the humor of Shiba Inu ($SHIB) with the iconic design of Barbie. Shibie Coin brings a bold, provocative persona to the meme coin niche, tapping into the power of pop culture trends. The project’s whitepaper highlights that the total supply of $SHIBIE is capped at 10 billion tokens, with 60% of these set aside for presale investors. Presale investors can buy $SHIBIE for the low price of $0.000167 – potentially a discount on the eventual listing price. This setup has enticed significant early investment, with the Shibie Coin presale raising nearly $100,000 in less than three days.
Another meme coin that’s catching investors’ attention is Wall Street Memes ($WSM). As its name implies, Wall Street Memes leverages the appeal of the WallStreetBets Reddit subculture, tapping into the power of a colossal retail trader community. Although Wall Street Memes has no direct connection to r/WallStreetBets, the project does follow a similar approach, posting memes on social media to drive engagement. This approach has succeeded – helping Wall Street Memes grow a community of over 1.1 million “degens” worldwide. Unsurprisingly, this community backing has helped the $WSM presale become a considerable success, having raised over $20.6 million thus far.
These new meme coins, Shibie Coin and Wall Street Memes, show promise in capturing the attention and investment of crypto enthusiasts looking for the next big thing. While the success of these coins is yet to be determined, their unique approaches and early traction indicate a potential for significant returns. As always, investors are advised to conduct their own research and exercise caution when investing in cryptocurrencies.