The siren song for hedge funds - memecoins on the attack
🧐 It seems the hedge fund world is plunging headfirst into the frenzy of memecoins with irresistible force.
💰 Stratos hedge fund launched a liquid Dogwifhat ($WIF ) fund in December. At one point, the price of $WIF ⬆️ surged by more than 300 times, helping the fund to a 137% profit in the first quarter, which is more than double the overall gain in the cryptocurrency market.
Stratos isn't the only hedge fund diving into memecoins. 🐘 Macro giant Brevan Howard made "tiny" investments in the sector, according to Bloomberg sources.
Crypto fund 🐈⬛ Pantera Capital recently wrote that "memecoins are here to stay," and that "trading memecoins creates gigantic" opportunities.
🐶 #Memecoins have recently been registering the highest trading volume on decentralized exchanges. According to CoinMarketCap, the overall market value of memecoins has increased to approximately $54.7 B.
It seems that memcoins can absorb a lot of capital from various funds. 😉
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