Pepe, WIF, Bonk minted millionaires: will Poodlana be next?
Meme coins have accumulated over $50 billion in assets.
The most popular tokens are the likes of Dogecoin, Shiba Inu, and Dogwifhat.
Poodlana aims to be the next big thing in the meme coin industry.
Turns out, the easiest way of becoming a millionaire recently has not been investing in private equity or stocks. Instead, many people have turned a few thousands of dollars into millions by investing in meme coins like Pepe, Dogwifhat (WIF), and Bonk.
Meme coins have soared
Data by CoinGecko shows that meme coins have a combined market cap of over $50 billion, making them bigger than some well-known companies like VICI Properties, Archer Daniels Midland, Lululemon, and Rockwell Automation.
Traditional meme coins like Dogecoin and Shiba Inu lead the market cap ranking followed by newer brands like Pepe, Bonk, Brett, Popcat, Cat in a dogs world, and Mog Coin.
Pepe has a market cap of over $4.7 billion while WIF has a valuation of over $2.3 billion. Bonk, Brett, and Popcat are valued at more than $769 million.
While the real number of millionaires minted by these tokens is not known, analysts believe that it could be in the thousands. For example, an investor who bought WIF tokens worth $10,000 in January 2024 has turned the figure to over $370,000.
Similarly, an investor who bought Popcat tokens worth $50,000 in January 2024 would now have $9.3 million since the token has gone parabolic.
These tokens have soared over time because of their popularity among the day trader community. They are mostly cheaper than big coins like Bitcoin and Ethereum, meaning that one can buy more. In Popcat’s case, the token was selling for just $0.0043 earlier this year while Bitcoin was trading at over $45,000.
Poodlana could be the next big thing
A look at the meme coin industry shows several important themes. The industry started with dog-themed tokens, which are still the dominant players. These tokens include the likes of Dogecoin, Shiba Inu, and Floki.
Cat-themed tokens like Popcat and Cat in a dogs world have also done well. Political tokenslike MAGA and MAGA Hat have also minted millionaires this year.
Poodlana, an upcoming crypto token could be the next big thing in the crypto industry as evidenced by its token sale. The developers have raised over $2.8 million in funds in the past three weeks, making it the fastest-growing meme coin in the industry.
Poodlana aims to disrupt the dog-themed token in three ways. First, unlike Shiba Inu and Floki that are based on Ethereum, it will be a Solana token. Solana has emerged as an important player in the meme coin industry because of its low fees and faster speeds.
Second, Poodlana is based on Poodle, a well-known dog brand in Japan and other Asian countries. Finally, it has positioned itself as a fashion icon, comparing itself with well-known fashion brands like Hermes.
Poodlana’s approach to its token sale is different from other cryptocurrencies. For one, its token sale will only go on for 30 days and its token will start trading 30 minutes after the token sale ends. Its pre-sale token price will continue rising during this time, meaning that earlier buyers will get more tokens. You can buy the Poodlana token here.
