Could WSM be the next big meme? Coin?

Could WSM be the next big meme? Coin?

Predicting the next cryptocurrency explosion, buying early and retiring as a millionaire is difficult, but some have done it.

Although it may be more difficult with small investments in large projects like Bitcoin and Ethereum, meme coins have proven time and time again that it can be done even with a small investment. Of course, the risks involved are higher, but there are many stories of people turning $1 or $2 into millions through meme coins like SHIB or PEPE.

In this post, we take a look at some examples of hitting the jackpot with SHIB and speculate on what the next Shiba Inu crypto asset might be, taking a look at two upcoming meme coin projects – AiDoge and Wall Street Memes.

From a small holder of Shiba Inu Coin to a multimillionaire

In October 2020, a trader decided to invest in Shiba Inu (SHIB) because he didn't have the chance to become the next Dogecoin - which was also only a fraction of its current value at the time, but had been in circulation since December 2013 and had seen early success.

This unknown trader – who could only be tracked using his wallet address and Etherscan data – purchased $17 worth of SHIB tokens.

At that point, the Shiba Inu price was around $0.0000000001 – and fluctuated around that valuation throughout the month. That's nine zeros after the decimal point.

A year later, the Shiba Inu coin price reached its all-time high in October 2021 at a price of $0.00008854 - shortly before Bitcoin and Ethereum also reached their ATHs of just over $69,000 and just under $5,000. That's four zeros after the decimal point.

If you calculate the ratio of the two, this results in an increase of 885,400 times - so even an investment of 1 dollar would have almost made him a millionaire. Selling his $17 investment at the perfect high would have netted him $15 million.

He reportedly took some profit on the way up and gradually increased his position - no trader can accurately determine the bottom or top of markets - and his total realized profit was $6.5 million.

The warehouse manager of a supermarket becomes a crypto millionaire

A similar rags-to-riches story made it to the New York Post because in this case the identity of the dealer was known.

Rob invested $8,000 in Shiba Inu coin and sold it relatively early - some of the first SHIB holders could have even become multi-billionaires - and cashed out $500,000 after a few months of holding. The latest blow-off top for SHIB increased his winnings to $1 million.

The list of stories goes on, and according to the NY Post, one trader actually made $1 billion on a $7,850 investment in SHIB. Another paid out $5.4 million after a 14-month holding period.

Invest in new coins early

While there are stories of people buying at high prices and losing money, the key to trading success is buying low and selling high. The above traders all took a risk before the rest heard about a new cryptocurrency that was still early in its roadmap.

New crypto pre-sales and pre-ICO projects are being launched regularly, and in 2023, meme coins are the thing to keep an eye on - a new asset named after Pepe the Frog made many millionaires in the first quarter of this year.

Just like SHIB and DOGE before them, new meme coins like PEPE, SPONGE, WOJAK and others saw exponential price increases, creating generational wealth for holders who got in and out at the right times.

Watch two meme coins

Two upcoming meme coins to keep an eye on in the coming weeks are AiDoge (AI) and Wall Street Memes (WSM).

AiDoge combines meme coins with another currently popular crypto trend – artificial intelligence – as the first “meme to earn” platform where users generate AI-based memes from text input.

Meme creators who use its tools earn their money using AI as a reward token. Presales for AI sold out in record time last month after raising a whopping $14.9 million. It is now scheduled to list on its first crypto exchanges on June 19, 2023.

Wall Street Memes is intended to symbolize the meme stock movement that sparked the GameStop and AMC short squeeze, building on its existing following on Instagram and Twitter - which even got noticed by Elon Musk.

Popular crypto influencer Michael Wrubel recently reviewed the WSM presale reaching 310,000 subscribers and many analysts shared their positive predictions.

Wall Street Memes has raised over $6 million in just over two weeks, showing that investors have great confidence in the project.

While they may not all repeat Shiba Inu's success and create millionaires, new meme coins tend to have greater upside potential as a short-term trade than the big caps like BTC and ETH, and AI and WSM appear to be two of the hottest ones to keep an eye on at the moment given the performance of their pre-sales. Of course, the risks associated with investing in meme coins are certainly higher than those of investing in Bitcoin or other established projects.

Visit the Wall Street Memes presale

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