$857 Becomes $2 Million Overnight with Pump.fun – How Did It Happen?

Crypto All-Stars crypto whales Meme Coins

The trader’s initial purchase of $857 has ballooned to $2 million. Last updated:

September 4, 2024 07:43 EDT

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Last updated:

September 4, 2024 07:43 EDT

One lucky trader has turned $857 into $2 million after purchasing 23 million $FWOG meme coins, according to a tweet by wallet tracking X account Kakashi (@KKashi_YT).

That $857 $FWOG buy at pumpfun, is now worth over $2M pic.twitter.com/yHAT8pLM23

— Kakashi (@kkashi_yt) September 2, 2024

The trader’s initial purchase of $857 then set a new high watermark of $2 million before retreating to its current price, which is just short of $1.9 million.

The question meme coin fans are now asking themselves is whether this rally will go on, or whether they’ve seen the top already.

That’s an altogether trickier question to answer given that $FWOG is a barely month-old meme coin.

According to the chart, $FWOG has consistently set new highs since launch, with an all-time high of $0.09487 set on Monday.

Now, at its current price of $0.08207, $FWOG is 18% pricier than it was last Wednesday, it’s about 611% up from a fortnight ago, but still 14% short of recapturing ATH.

As the chart below indicates, since late August, $FWOG has been trading closer to resistance levels (diagonal red line) than to its bedrock support level of a dime (horizontal green line).

Source: TradingViewA rising relative strength index (RSI) of 53 indicates a lot of headroom for new all-time highs going into the weekend as buying momentum picks up.

Going by the trend lines, it’s very likely a downward rebound will happen once the token recaptures $0.90, the question is how far will $FWOG fall? Is it likely to go all the way back to a dime? It’s hard to say, but a strong Bitcoin ($BTC) will help prop it up.

That said, Bitcoin is having a tough day. The world’s original cryptocurrency fell 4% overnight and over the week to retail at $56,725 as of this writing.

$FWOG Holders Join Other Meme Coin Fans in Crypto All-Starz

$FWOG is a low-utility meme coin, which means that beyond the adorable frog illustration, there’s really very little inherent value. Investing is done solely at the investors’ risk and there is a chance they could lose all their money.

That’s why it’s always worth looking off the beating track for some of today’s meme coins, which are catalyzing investment with their unique value propositions.

One such project, which is pioneering a unified staking protocol for meme coin fans, is Crypto All-Stars ($STARS) a revolutionary staking platform that brings together the most celebrated meme coins in one place.

Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 1,489%.

To that end, the team has allocated 20% of the tokens for its presale; the other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Eco.

This new meme coin project has gained so much popularity that its presale has already raised $957,000 since its launch two weeks ago.

Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.

So, if you are an investor looking to put your money to work, Crypto All-Stars is a better choice than $FWOG. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.

Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.

Visit the Crypto All-Starz presale Website Here

Follow Us on Google News Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.