Trader Makes $140k In 20 Minutes After Binance Moo Deng Listing, Is This Meme Coin Next To Explode?
Smart money investors continue to print generation wealth with new meme coins.
As the Goatseus Maximus rally cooled down, Solana meme coin Moo Deng saw its price double in a span of a few minutes following its listing on Binance Futures.
#Binance Futures will launch the USD-Margined $MOODENG Perpetual Contract at Oct 25 2024, 10:00 (UTC)Read more https://t.co/FRuu1q8ZNA pic.twitter.com/Z9XLOaGwS2
Binance Futures (@BinanceFutures) October 25, 2024
A crypto whale jumped on this opportunity and printed $140k in profits in less than 20 minutes.
Trader Makes $140k With Moo Deng Coin
Data from Lookonchain reveals that this savvy investor has been closely monitoring Binances new crypto listings.
He swapped 1,300 SOL coins for 2.77 million $MOODENG in the same second as Binance Futures listed the meme coin on its platform. Twenty minutes later, he dumped his Moo Deng holdings for 2,109 SOL, making a cool $140k in profits.
This isn't his first rodeo with new Binance meme coins either. He made $17k in profits on Thursday after Binance Futures announced its GOAT listing.
The accuracy and timing of his trades suggest that the trader could be a Binance insider. However, there isnt any additional proof to verify this thesis.
Is It Still A Good Time To Invest In Moo Deng Coin?
The aforementioned trader sold his MOODENG holdings, locking in his profits. However, could it still be a good time for sidelined investors to buy the Moo Deng coin?
The meme coin is currently trading at $0.169 with a market capitalization of 160 million, up over 120% from its daily open. It has breached the upper trendline of the falling wedge it has been trading inside after hitting its all-time high last month.
However, its Relative Strength Index (RSI) is now hovering above the 80 mark in the 4-hour chart, which typically indicates that the asset is overbought. Meanwhile, its daily RSI is currently at 63 and is inching towards the key 70 overbought level.
Consequently, the possibility of a short-term correction cannot be ignored, which could potentially offer a better entry for sidelined investors.
However, with its Binance Futures listing, prominent crypto investors believe that Moo Deng could be the next billion-dollar meme coin.
Could Flockerz Be The Next 100x Crypto?
The success of Moo Deng, GOAT and NEIRO has again showcased that new meme coins will continue to dominate this bull cycle, hence the name meme coin supercycle.
Smart money investors are already hunting for the next low-cap meme coin to explode, and Flockerz (FLOCK) has emerged as a standout choice.
Flockerz, the self-proclaimed peoples meme coin, is in high demand during its presale, having already raised over $1 million in early investments.
FLOCK is a utility-driven meme coin and has introduced a novel concept, vote-to-earn. FLOCK holders will automatically be members of the Flocktopia DAO and will vote on all important decisions, including marketing, new exchange listings, etc. In exchange, they will receive monetary rewards.
Additionally, Flockerz has a native staking protocol, which is available for presale FLOCK buyers. It is currently offering an APY of 1600%, substantially higher than the industry average.
Smart money investors are also impressed with its sound tokenomics, multiple security audits and strong community backing, all of which separate it from other new meme coins.
It is not without reason that a growing number of experts are even calling it the next 100x crypto.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Text source: Crypto Daily™
