🧐 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. 😉
1. Unrealistic Offers If someone offers you a large amount of free crypto in exchange for minimal or no work, it’s a scam. Long-time opportunities require time, effort, or some investment. The crypto market is volatile, and nobody can guarantee future profits. Beware of anyone promising you a specific return on your investment.
2. Fake Job Offers Real job opportunities won’t require you to pay a fee to apply or get hired. If someone asks you to send money to secure a crypto job, it’s a scam.
3. Unexpected Contact About Your Crypto Legitimate companies won’t pressure you to log into your account via email, phone, or text. If you receive such a message, don’t click any links and never share your login information.
1. Phishing scams Phishing scams are like fake emails pretending to be from a legitimate company. These scammers trick you into giving them your personal information, especially your crypto wallet keys. They might send you an email that looks real, asking you to log in to your account. But if you click on any links or give them your information, they could steal your crypto.
2. Pump and Dump Schemes Scammers will try to convince everyone that a specific cryptocurrency is rising (the pump). They’ll use social media to create a lot of excitement and work together to drive up the asset’s price. Then, all of a sudden, the scammers will sell all their coins (the dump), making a big profit. Everyone else who bought the coin at a high price will be left with useless coins.
3. Investment Scams Someone you don’t know will contact you randomly with an investment opportunity in a specific cryptocurrency. They’ll rush you to send your crypto through their website or app. These websites might look convincing, but they’re fake. If you send them your crypto, you might not be able to get it back. They might even prevent you from accessing your account or charge you a fee to withdraw your money.
4. Impersonation Scams Scammers might pretend to be from the government, police, or even a company you trust or your bank. They’ll make up stories to manipulate you into giving them your crypto. For example, they might say your account is frozen and you must pay them in crypto to fix it.
5. Romance Scams Cryptocurrencies have become a new target for online romance scams. They create fake online profiles to build trust and emotional connections with victims. After developing a bond, they introduce cryptocurrency. The scammer then pressures the victim to send crypto or invest in a specific currency, tempting them to a future life together.
🤑 Trader Makes $23 Million from Meme Tokens! 🫡 Paulo.sol capitalized on a surge in Bonk ($BONK ) prices on November 11, 2023, and his swing trading strategies yielded him roughly $6.28 million from the token's volatility. 💪 Starting December 4, he engaged in buying and trading Dogwifhat (WIF), and by March 2024, he was actively trading Jeo Boden ($BODEN). 🧐 Each trading period coincided with sharp increases in the value of these meme tokens. 🙀 Overall, paulo.sol earned $9.51 million and $7.04 million from trading WIF and BODEN, respectively. 👌Lookonchain reports that paulo.sol still maintains holdings in $BODEN valued at $7.6 million and in WIF worth $5.7 million. Furthermore, paulo.sol has expanded his portfolio to include other meme tokens, 🤔 investing $1.77 million in $POPCAT and almost $6 million in $PUPS, making him the top holder of the latter on the Solana blockchain.
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This fraud leverages a deceptive modification of Ethereum node Remote Procedure Calls (RPC).
The crypto scam operates by first gaining the trust of unsuspecting users. The fraudster persuades the target to download the legitimate imToken wallet, then sends 1 USDT and a small amount of ETH as bait.
The trap is set when the scammer convinces the user to switch their ETH RPC URL to a node controlled by the scammer. This manipulated node displays a falsified USDT balance, misleading the user into believing they have received substantial funds.
Unaware of the deceit, the user, upon attempting to transfer out miner’s fees to cash out the USDT, discovers the scam only after the funds fail to materialize, and the scammer has vanished.
Meme token airdrops offset pre-order costs for Solana's Web3 smartphone
🙀 In April, two cat-themed projects, Cat in a Dog's World (MEW) and Maneki (MANEKI), awarded airdrops to those who pre-ordered their upcoming device.
🗒 On April 1, MEW distributed 37,600 tokens to each individual who had pre-ordered the Web3 📱smartphone. At their highest trading price of $0.0089 after distribution these tokens amounted to approximately $334.
🕐 Later, on April 24, Saga Chapter 2 owners were allocated 5,199 MANEKI tokens each, which at their peak price of $0.026, translated to about $135.
💧The airdrops from these two meme tokens allowed users who had pre-ordered the smartphone at $450 to potentially net around $470. While the tokens' value has since dropped and no longer offsets the full cost of the device, they still represent a substantial bonus. 😉
✔️ Purchasers of the Saga Chapter 2 linked their Solana wallet addresses during the order process, enabling them to receive tokens even before the phone's delivery.
FairLaunch is currently taking place and there is an opportunity to buy the TIGER token at an early stage. Price 1 TIGER = 0.000054102 TON
➡️ For those interested, here is the link to purchase a token https://tonraffles.app/jetton/fairlaunch/TIGER/EQDCzagZOhL6vXne9DIILKBryvSEjNBsKbIHmZ3s0m3XGEdq