Will Traders Buy This New Meme Coin While BONK Dips?

The post Will Traders Buy This New Meme Coin While BONK Dips? appeared first on Coinpedia Fintech News

Crypto traders are selling Bitcoin, but whales accumulated in droves over the 48 hours ending by lunchtime in Washington D.C. as regulators at the SEC and on Capitol Hill consider how to manage the unstoppable surge of blockchain cryptocurrencies in the 2020s from making new investors wealthy too fast by investing in cartoon dogs and cats like Ethereum $KAI.

The smart money knows what to do in a dip driven by the news cycle amid a more long-term bullish trend. They thank their lucky stars for the opportunity and buy that fantastic dip.

According to Coinpedia Wednesday, citing Santiment data:

“The large whales with 1000 to 10,000 BTC in their wallets have collectively accumulated nearly $941 million worth of BTC over the past 24 hours, rebounding to their highest holding level in the past 2 weeks.”

Will they buy the meme coin dip next, or will this buying opportunity get even cheaper by the end of this week?

Either way, new altcoin projects like PopCat ($POPCAT), DogWifHat (WIFUSD), and Kai Cat have been delivering cryptocurrency investors some of the most eye-popping gains over the past several months.

Altcoins Similar To Kai Cat Could Launch Next

While base layer tokens like Bitcoin and Ethereum are benefiting greatly from their supply/demand economics against the dollar, meme tokens have been leading gains in the segment since quarter four last year when the Bitcoin ETF rally started. 

That makes meme coins a very attractive option for short-term day traders and long-term saver-investors who aren’t too averse to taking a calculated risk for incredible returns on their principal. 

This week PopCat is on sale with the rest of the meme coin market for a bargain price on crypto exchanges. 

For example, even after falling to $0.44 from its May 4 high of $0.64, Solana PopCat is still up 2,445% since Jan. 1, turning every $100 invested into $2,500 this year so far. All it would have to do is go back up to its recent high from just a couple of days ago to return some 45% to investors at Wednesday’s price.

But if 45% returns over the relevant time period just aren’t enough for meme coin prospectors looking for the next undiscovered gem to explode like thousands of per cent in returns like PopCat— Ethereum Kai Cat may be worth perusing.

Meme Coin Dip A Buying Opportunity

While past results are no guarantee of future results, and there’s no telling for certain exactly which new meme altcoin project will skyrocket after launching on crypto exchanges, spreading out some cash from your risky bets fund among a few good prospects can result in hitting the jackpot when these projects insta-rally on blockchain finance markets.

When the base token markets are up, specialized utility and meme coins are often up more, some weeks by a couple or a few orders of magnitude, delivering investors more profits. When base layer tokens like BTC and ETH are down, meme coins are often down by more, offering investors a better bargain for the next rally.

Before looking through more established meme currency to purchase while it’s still on sale this week, take a look at new projects like $KAI Cat as well. Pronounced “Kay Aye Cat,” this new AI-optimized, ERC20 meme token could be the next moon ticket.