On April 3, 2024, the memecoin donotfomoew (MOEW) experienced a rapid increase in value after being introduced on decentralized exchanges (DEXs).
A crypto trader managed to transform an initial investment of $13,000 into over $2 million by investing in MOEW on the Base blockchain. The trader bought 499.9 million MOEW for four Ether shortly after the token’s listing on DEXs. Less than an hour later, they sold 111.65 million MOEW for 99 Ether ($328,000) and currently hold 388.24 million MOEW, valued at $1.76 million.
The cat-themed MOEW meme token was created by Bitget Wallet for amusement, but its value surged post-launch, reaching a market cap of $31 million. Bitget Wallet developers advised against buying or succumbing to FOMO, clarifying that half of the MOEW tokens were permanently locked while the other half were distributed through an airdrop to over 8,000 addresses.
Memecoins like Dogecoin and Shiba Inu, along with new tokens on Solana and Base blockchains, have seen significant increases in value amid the current bullish market. For instance, the Solana memecoin Jeo Boden (BODEN), a parody of US President Joe Biden, has surpassed a $250 million market cap. Additionally, a Solana memecoin associated with Taiwanese music celebrity Machi Big Brother experienced a surge after a $40 million presale earlier in the week.
