Memecoin ($MEME) continues to be one of the weakest crypto assets, a trend that becomes especially apparent on days like today.
An early pre-sale investor recently deposited 127.5 million $MEME, valued at $1.55 million, to Binance just an hour ago, earning a staggering $1.41 million profit.
A Memecoin pre-sale investor deposited 127.5M $MEME($1.55M) to #Binance 1 hour ago, earning $1.41M.
Memecoin( $MEME) raised $15.8M through 2 rounds of pre-sales, the pre-sale price is $0.001.https://t.co/bGorr47HDo pic.twitter.com/WRsOczSTup
— Lookonchain (@lookonchain) August 3, 2024
Memecoin raised $15.8 million through two rounds of pre-sales, with the pre-sale price set at $0.001. The recent transaction underscores the significant gains early investors have realized, with this particular investor achieving a 1,105% return.
🚨 LATEST: @coinbase to add support for Ethereum memecoin $MEME (@memecoin) perpetual futures on Coinbase Advanced.$MEME-PERP trading will go live on August 8. pic.twitter.com/rF8MGfqy4Q
— THRIV3 (@THRIV3PBN) August 1, 2024
$MEME Gets The Attention After Coinbase Recent Announcement
Despite its current market struggles, $MEME has garnered attention with Coinbase’s recent announcement. Coinbase will support Ethereum-based memecoin $MEME perpetual futures on Coinbase Advanced, with $MEME-PERP trading set to go live on August 8.
@CoinbaseIntExch will add support for cat in a dogs world, Memecoin, and Jasmycoin perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our MEW-PERP, MEME-PERP, and JASMY-PERP markets will begin on or after 9:30am UTC 8 AUG 2024. pic.twitter.com/4XdvjT53hQ
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) August 1, 2024
This upcoming launch could influence $MEME’s market dynamics, potentially providing a new avenue for traders and investors to engage with the token. As $MEME grapples with its market performance, the introduction of perpetual futures may offer some stability and attract fresh interest.
In the volatile world of cryptocurrency, $MEME’s journey highlights the high-risk, high-reward nature of memecoins. As the market continues to evolve, investors and traders will be watching closely to see how $MEME navigates its current challenges and leverages new opportunities like the Coinbase listing.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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