The meme coin mania has returned and traders have started printing millions again, this time round with Tron meme coins.
For instance, one trader invested merely $999.9 to purchase 43.8 million SunWukong tokens on August 19th. In a span of just two days, his holdings were worth $750,000, representing a staggering 750x returns.
However, this meme coin enthusiast is the very definition of a “diamond-handed trader”. He continues to hold his entire SunWukong holding, which has since depreciated in value to $338k.
His conviction indicates that he sees this Tron meme coin going much higher than its Wednesday’s all-time high.
Meanwhile, other smart money investors are on a meme coin buying spree, preparing for the upcoming bull run in the space. Low-cap gems such as Pepe Unchained and Base Dawgz are in high demand.
Time To Buy Meme Coins Again?
This crypto bull cycle has belonged to meme coins. Tokens such as Pepe, Floki and Dogwifhat have outperformed most crypto assets this year, with smart money investors viewing them as beta bets on their respective Layer-1 tokens such as ETH, BNB and SOL.
However, it is the new meme coins that have delivered outsized returns and turned small-scale investors into millionaires.
Take, for instance, SunWukong. After opening its trading with a market cap of under $70k, it exploded to reach a peak valuation of over $17 million.
This Tron meme coin is based on a character of the popular game Black Myth: Wukong, which recently saw one of the most successful single-player game launches in recent history.
The meme coin price skyrocketed after Tron (TRX) founder Justin Sun changed his X profile picture to Sun Wukong.
However, the aforementioned trader is only one of the rags-to-riches success stories to have emerged from the meme coin space this year. Several other small-scale investors printed millions in profits from low-cap meme coins during this year’s first-quarter crypto bull run.
Now, all signs are indicating that the meme coin mania is returning. After all, there is a reason why top-tier crypto exchanges are on a meme coin launch spree. For instance, Binance recently listed the Base meme coin Brett, Solana meme coin Popcat, Ton meme token DOGS and Tron meme coin SUN, all in this week.
Indeed, the Federal Reserve is poised to cut interest rates starting in September, with the markets currently pricing in 100 bps rate cuts this year. This is decidedly bullish for risk assets such as meme coins, owing to the surge in liquidity.
Experts are projecting large-caps and mid-caps such as Dogecoin, Pepe, Dogwifhat and Popcat to hit new highs while expecting several low-caps to deliver outsized returns.
Smart Money Investors Are Also Buying Pepe Unchained, Base Dawgz
Unsurprisingly, smart money investors are on a meme coin buying spree, preparing for the upcoming bull run.
For instance, popular crypto trader ClayBro – who has 130k YouTube subscribers – recently purchased Pepe Unchained (PEPU) and is targeting 50x to 100x potential returns from it. He is also not the only one.
While the aforementioned SunWukong token currently has a market cap of $8 million, PEPU has raised over $10 million in its presale itself.
The strong early demand isn’t surprising. In a rare and bold move, Pepe Unchained is set to launch its own Layer-2 chain on Ethereum, which will result in extremely low trading costs and high staking rewards. In fact, early PEPU buyers are already earning passive income at nearly 200% APY.
Similarly, smart money investors are bullish on Base Dawgz (DAWGZ), with some expecting it to create new crypto millionaires.
With Binance’s listing of Brett, it is clear that Base meme coins are in high demand. However, BRETT is a large-cap meme coin and can offer limited returns.
On the contrary, experts believe that DAWGZ could potentially offer much higher growth, thanks to its low-cap status, multi-chain nature and innovative utilities.
