- Expert analyst Miles Deutscher advocates for a strategy of capitalizing on the popularity of meme coins to maximize profits.
- Despite their whimsical names, meme coins like WIF and Myro have demonstrated impressive performance, with WIF particularly noteworthy for generating a $3.2 million return from an initial investment of $310 within just three months.
The meme coin sector has been recently bustling with activity and apart from the top players like Dogecoin (DOGE) and Shiba Inu (SHIB), other small-cap meme coins have been in much demand recently. Market analysts suggest that there’s a lot of steam left in such small-cap meme coins that can potentially give life-changing returns to investors.
Expert analyst Miles Deutscher has unveiled a straightforward strategy that might surprise you. In a recent video, Miles shared insights into a common mistake individuals often make when aiming for crypto wealth.
According to Miles, the key to maximizing profits lies in following the crowd. And what’s currently all the rage? Meme coins. Despite their whimsical names like Doge and Pepe, these unconventional cryptocurrencies are proving to be lucrative investments for those in the know. Miles advises paying heed to the buzz surrounding these meme coins, as that’s where the real money-making potential lies.
In his recent video, he discussed various meme coins, singling out one in particular that he favored over Doge. He noted that the WIF coin has shown remarkable performance, nearly doubling in value since his initial mention on the show when it was priced at around one dollar. Additionally, he highlighted another coin called Myro, which has surged by 239% in the past week alone.
The Dogwifhat (WIF) Millionaire Story
As reported by Crypto News Flash earlier this month, an early investor in Solana’s meme cryptocurrency, Dogwifhat (WIF), has reaped substantial gains, making approximately $3.2 million from an initial investment of $310 within a mere three months. Following the launch of the meme coin on the Solana blockchain, the anonymous trader utilized 5.288 SOL, equivalent to $310, to acquire 2.58 million WIF in November of the previous year.
With the meme coin surging more than 900% in the last three months, the investment has burgeoned to over $3.2 million from the initial $310. This remarkable performance has translated to a 10,075x increase in gains for the trader. At present, WIF is trading at $2.27 with a market capitalization of $2,221,201,274, positioning it as the 55th largest cryptocurrency in the market.
The trajectory of WIF’s price closely mirrors that of Solana’s previous memecoin, BONK. Like its Shiba Inu counterpart, BONK emerged as one of the top performers in the cryptocurrency market following its launch. As reported by Crypto News Flash, WIF and BONK are the two meme coins to recently join the $1 billion club.
AI Tokens In Focus
While meme coins continue to capture retail investors’ attention, Miles Deutscher also expressed bullish sentiments towards the AI sector. He observed that over the last 24 hours, AI and meme coins have been among the strongest performers, citing examples like Axie Infinity and Fetch.ai. He believes that AI holds significant long-term potential, particularly in distributed machine learning networks. This Crypto News Flash report shows a list of AI tokens with a potential of 100x gains from here onwards.
