Despite its volatile nature, Dogecoin has proven to be one of the strongest cryptos for long-term growth over the last decade. Countless holders have gotten rich with relatively small investments, with DOGE outperforming Bitcoin and other top cryptos.
Dogecoin is so renowned for making people rich that the term “Dogecoin millionaire” was popularized during the 2021 bull market. Let’s take a look at one example of how an early DOGE investor became rich and also at which meme coins could be next to see similar gains.
This Wallet Turned $4.3K of DOGE into $13 Million
In November 2014, one investor made two purchases of Dogecoin, totaling 19,999,989 DOGE.
The investment was pretty significant at the time, costing just over $4.3K. However, whether it was due to skill or luck, the purchase would later put this investor on the top 500 rich list for a multi-billion dollar asset.
Based on today’s Dogecoin price, the investor’s holdings are currently worth a staggering $1,263,483. That said, the wallet continues to hold on for dear life (HODL) and has not sold a single unit of Dogecoin since the investment.
What’s more interesting is that Dogecoin is currently 91% lower than its all-time high (ATH), which would have briefly put this wallet’s net worth to an eye-watering $13 million in 2021.
As such, the investor would have accrued a life-changing 313,000% return on investment (ROI) in just seven years. Even at today’s price in the depths of a bear market, the investor still enjoys a 29283.3% ROI.
However, they are yet to lock in profits. Are they looking to become a Dogecoin billionaire, or might the owner lose access to the wallet?
Either way, this wallet’s gains attest to the power of HODLing and getting into a project from the ground up. This is evident with another investor who holds the same amount of Dogecoin (19,999,989) but is currently at a $2,159,384.8 loss because they bought DOGE in 2021 during the bull run.
While there is still upside potential, buying Dogecoin today is unlikely to make new investors rich since the price is already high and it holds a market cap of over $8.8 billion.
However, new meme coins regularly explode, with projects like Shiba Inu and Pepe following a similar path. Yet, these projects have already reached a ceiling, so investors looking to maximise their upside potential may be better poised to buy newer meme coins.
Let’s look at the two most promising new projects today.
Wall Street Memes Backed to be the Next Millionaire Maker After Raising Over $25m
The project is currently in its presale but nearing the end, having raised over $25 million in four months. Its recent success puts it in contention to become the next Dogecoin, but its similarities to Dogecoin do not end with community interest.
Like Dogecoin, Wall Street Memes seemingly has the blessing of one of the world’s wealthiest men and business mogul, Elon Musk.
Over the past months, Elon has engaged with the Wall Street Memes Twitter account several times, supercharging the project’s hype.
Another factor adding to Wall Street Memes’ potential is that the team recently announced the project would be listed on multiple tier-one exchanges in less than 30 days. We recently saw the Pepe market cap reach a staggering $1.8 billion seemingly overnight following its Binance listing. Is $WSM gearing to do the same?
Considering the presale is selling out and tier-one exchange listings are looming, this is the final chance to buy $WSM at a fixed price ahead of a massive influx of new brand awareness and investors.
Stake-to-Earn Sonik Coin Also Showing High Potential as Presale Nears $1m
Another token being backed to have a bright future is Sonik Coin, a Stake-to-Earn meme coin inspired by Sonic the Hedgehog. The project’s focus is speed, aiming to become the fastest meme coin to reach a $100 million market cap.
This is ambitious, considering the astronomical rise of some predecessors. However, its presale has gotten off to a fiery start, quickly raising over $680K with a hard cap of just $2,098,547.
As such, many investors will likely be sidelined, forcing them to buy $SONIK on the open market, pushing Sonik Coin towards its overarching goal of a $100 million market cap.
Besides paying homage to Sonic the Hedgehog, one of the project’s main draws is its Stake-to-Earn feature, enabling investors to generate passive rewards simply by staking the $SONIK token.
However, the Sonik Coin team knows its community is not one to wait around, so it has enabled staking during the presale. This means presale investors can buy and stake $SONIK simultaneously.
50% of tokens are available in the presale, meaning the market cap at launch is just over $4 million. This provides room for almost 25x to reach its goal.
Another 40% of tokens are allocated to staking rewards, and the final 10% are earmarked for exchange liquidity, enabling seamless trading of $SONIK.
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