By The Numbers: How Much You Have To Invest To Become A Memecoin Millionaire
May 04 2023 - 5:00PM
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The total market capitalization for the memecoin sector reached $19
billion in the past weeks; the launch of PEPE, WOJAK, and others
have attracted new participants to the market. As a result, these
assets have experienced a massive surge in value and trading
volume. Related Reading: Polkadot (DOT) Under Sell Pressure As
Bears Retaliate Over the last 24 hours, memecoin PEPE saw a 53%
profit while WOJAK, AIDOGE, have experienced rallies of over 20%.
Over the past week, PEPE alone saw a 629% profit while WOJAK
recorded a 972% profit increasing the euphoria around these assets.
Memecoin Fever Triggers Euphoria The increase in the price of the
memecoin sector has seen traders betting a large portion of their
capital in the hopes of turning into millionaires overnight. Some
achieved this goal by investing as little as $20 before the
memecoin explosion. $27 $pepe wallet update: Now worth
$4,240,471.20 pic.twitter.com/jsA4BIRSms — borovik.eth (@3orovik)
May 4, 2023 One investor put $27 into PEPE and turned the capital
into over $4 million in a few weeks as the token entered price
discovery. Crypto is no stranger to these stories, but new data
from Coingecko is trying to shine a bigger light on this
phenomenon. The analysis team behind Coingecko attempted to reply
to the following question: How much money do you need to be a Meme
Coin Millionaire? On average, and taking into consideration the
current trending coins (PEPE, BONK, AIDOGE), and the classic
memecoins (DOGE, SHIB, Baby Doge), the study concluded: An investor
would have needed $66,298.25 on average to become a meme coin
millionaire, according to an analysis of 10 meme coin price
returns. To reach $1 million in meme coin holdings, the minimum
initial investment that is needed ranges from $11.87 for Shiba Inu,
to $190,585.57 for ArbDoge AI (AIDOGE). As seen in the chart below,
AIDOGE, WOJAK, and PEPE, needed the highest initial capital to
reach millionaire status. As seen in the chart below, ArbDoge AI
(AIDOGE) required a $190,000 investment if buying them in 2023,
while classical Shiba Inu (SHIB) and Dogecoin (DOGE) needed $820 if
buying in 2022 and 2013, respectively. How To Find The Next PEPE,
WOJAK, AIDOGE? As these assets become mainstream, it is harder for
early investors to see a higher investment return. As the chart
shows, earlier investors in classical memecoins needed much less
capital to reach millionaire status but much more time. In order to
achieve millionaire status, an early Dogecoin investor needed 2,701
days or 7 years, while a Bonk investor needed but a week. Thus,
there is an inverse correlation between initial capital and the
take it would take investors to become a millionaire with these
assets. Coingecko concluded: For the 2023 meme coins in particular,
it is likely that Pepe, ArbDoge AI, Wojak and Ignore Fud will
subsequently surpass their current all-time highs. Although they
might take longer to reach higher prices, it also means that a
lower initial investment is needed to become that meme coin’s
millionaire. In the crypto industry, trends, and sectors can lose
popularity and gain overnight. In that sense, finding the “next big
thing” is challenging. Related Reading: Coinbase And Ripple CLOs
Meet, Will XRP Listing Follow? However, Coingecko recommends that
users leverage decentralized exchange (DEX) trackers to monitor the
tokens experiencing a surge in their trading volume/price. These
assets are the most likely to see an uptick in their market cap and
popularity, hinting at a potential bull run.
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