While the Bitcoin price is down 8% in May, new meme coins have still been exploding, as buyers seek out the latest new meme crypto project.Īssociated with overcoming adversity or rationalizing a position - being told to ‘cope’ or ‘keep coping’ - the simple meme is universal and appeals to people regardless of their location in the world, political beliefs or native tongue. The Bitcoin price so far in 2023 for example, rose 87% from trough to peak - with a yearly open of $16,540 on Binance and reaching a high of $31,000 in April.Įarly investors that take a gamble on a new crypto coin, from the presale or ICO stage, can outperform that rate of return in a matter of minutes, even in seconds. If a new crypto project delivers on the promises of its whitepaper, buying at such an early point often has much more potential upside in the short term than investing in Bitcoin. Investing in new cryptocurrency projects early in their roadmap, at the initial coin offering or initial DEX offering (IDO) stage - sometimes simply called the initial exchange offering (IEO) is a high risk, high reward strategy. $COPIUM joins a long list of meme coins hoping to be the next $PEPE, which rose over 100,000% in a single month in 2023 since its own ICO. ![]() This week Copium token exploded by several hundred percent following its initial coin offering (ICO) on Uniswap, reaching an $8 million valuation within the space of five minutes. With a small meme token, a 5,000% gain is not uncommon, which is what Bitcoin would have needed to rise from around $20,000 to $1,000,000. ![]() Instead it’s new meme coins that have taken centre stage, with a much lower market capitalization than BTC giving them room to explode by a much higher percentage in a shorter period of time. However, interest in crypto has still reached a fever pitch - it just hasn’t been directed at Bitcoin. Srinivasan’s Bitcoin prediction was made in March, and with the deadline on his three-month Bitcoin target just around the corner, he has now conceded on the bet, according to Forbes. Bullish Bitcoin Price Prediction Fails, Meme Coins Take the Spotlight New York, NY -News Direct- Finance Newsįormer Coinbase CTO and crypto expert Balaji Srinivasan made headlines earlier in 2023 with a bold Bitcoin price prediction - that the flagship cryptocurrency would embark on another bull run and hit $1 million within 90 days.
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