📉 Traders continue to make money on meme coins amid the market rally and Bitcoin's recovery to $70,000:

- Lookonchain analysts noted a trader who traded 89 meme coins since March 21; only 26 of them were profitable (<span However, the trader was lucky: he earned $690,000 on ANIME by investing $7,000 in Ethereum (ETH) 😲

- Another case with the MFER meme coin was less successful: a trader missed out on $4 million in profit by selling 25.5 million MFER for $566 before the price of the coin increased

BitMEX co-founder Arthur Hayes urges people not to think of meme coins as "stupid and worthless" as they attract new users and developers to the blockchain industry.