The most successful cryptocurrency traders are chasing quick profits with memokine despite indications that a broader “supercycle” of speculative assets may be over. The change follows recent disappointments related to the launch of Memocoin related to US President Donald Trump.
The industry’s most successful cryptocurrency trader with returns tracked as “smart money” traders on Nansen’s blockchain intelligence platform continues to search for quick memo coin returns.
Nansen research analyst Nikolai Sondergaard believes the expansion of Stablecoin Holdings is growing attention, but smart money remains open to speculative plays.
“There’s been a recent spike in memes and Smart Money is always happy to beat them, but they’re also happy to spin these straight away,” he told X on Cointelegraph’s ChainReaction Live Show.
“The recent meme frenzy has been a fun game they’ve worked on, but the wider market is sorting the way forward because Memecoin doesn’t necessarily have the same macroeconomic impact as Bitcoin and Ethereum,” he added.
Related: Bitcoin holds tight as stocks lose $5T in record-breaking Trump tariff sales
Analyst insight comes a week after a savvy trader turned his initial investment of just $2,000 in the popular Pepe (Pepe) cryptocurrency to $43 million, Cointelegraph reported on March 30.
A well-versed Pepe Trader, Transaction. sauce: Lookonchain
However, traders were unable to sell the top, but they achieved profits of over $10 million despite Pepe’s down more than 70% from an all-time high.
Related: The Trump family’s memecoin could cause an increase in SEC scrutiny over crypto
The launch of the card token may have ended Memocoin “Super Cycle”
The launch of the official Trump (Trump) Memocoin on January 18th may have signaled the end of Memocoin’s “super cycle.”
According to a Binance research report shared with CointeLegraph, “Pump.Fun is synonymous with “Memecoin Supercycle.”
Pump.Fun usage. Source: Binance Research Report
The weekly usage of the Memecoin Launchpad peaked during Trump’s inauguration week and then declined. Pump.Fun’s total active wallets fell from 2.85 million on January 20th to just 1.44 million as of March 31st.
The decline is largely due to the collapse of investors’ sentiment, a Binance spokesman added to the Cointelegraph:
“Market sentiment appears to have changed even in unconfirmed reports of insider trading linked to subsequent high-profile tokens such as $Melania and $libra.”
“The broader macroeconomic uncertainty, including volatility driven by global tariff policies, may have further weakened speculative desire for Memecoin more generally,” the spokesman said.
Trump/USD, the best chart ever. Source: CoinMarketCap
Meanwhile, the Trump tokens have fallen by more than 87% from their peak at $75.35 on January 19th. Tokens have dropped by more than 8% in the past week.
https://www.youtube.com/watch?v=sumyysrjvzm
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