DeFi Analyst Reveals Insider Traders’ Favorite Memecoins List
DeFi analyst Tracer reveals the 10 memecoins that insider traders prefer for their potential profits. The BRETT cryptocurrency rose 445% in 30 days, increasing its valuation from $1.66 billion to $1.92 billion. Insider trading can yield significant profits; Tracer advises investing with caution and knowledge.
Memecoins have secured a unique position, captivating an enthusiastic community with their unpredictable fluctuations. Tracer, an analyst at DeFi, recently highlighted ten Memecoins that are present in the wallets of several insiders in the cryptocurrency world.
Tracer states that these selected Memecoins are likely to see a significant price increase soon.
Top 10 Insiders’ Favorite Cryptocurrency Memes
Tracer himself capitalized by following these insider trades. He watched as an insider made a 283x profit on early information about a memecoin called BRETT.
Upon confirmation of the leak, BRETT’s price skyrocketed, marking an increase of nearly 400% in just 30 days. This significant rally increased BRETT’s market presence and raised its valuation from $1.66 billion to an impressive $1.92 billion. In addition, BRETT reached new all-time highs over the weekend.
Tracer highlighted the PONKE memecoin, which has strong community support and a market cap of over $196 million. Meanwhile, MICHI, a meme cryptocurrency that has become popular for generating thousands of meme avatars, has a market cap of $120.8 million.
“A memecoin whose variants you’ve seen everywhere! The meme generator Michi created thousands of avatars, which helped generate a lot of hype,” Tracer said.
CWIF is a deflationary meme cryptocurrency valued at more than $46 million. His team airdropped for more than 1.3 million holders. In addition, DUKO stands out for its charitable contributions and strong potential within the Solana ecosystem. SMOG has expanded from Solana to Ethereum to reach a broader market. Super Trump (STRUMP) offers compelling tokenomics with its politically themed narrative.
Less well known but equally promising are SLOTH, KATA, OPTI and SOLAMA. Each brings unique attributes that could attract investor interest, especially amid rumors of possible listings on major exchanges.
Impact of Listing on Exchanges
Tracer claims that the listing of Memecoins on major exchanges such as Coinbase or Binance typically triggers a 50% price spike. This is primarily due to the sudden increase in liquidity.
This pattern has consistently generated substantial wealth for those with prior knowledge of such listings.
The transparency of the crypto ecosystem makes it possible to track transactions, including those of insiders. This transparency offers expert traders a golden opportunity to replicate successful strategies, although it also raises debates about the fairness of such practices.
This insider information provides a significant advantage to those in the know. For example, a BeInCrypto report last year discussed a large purchase of Dogwifhat (WIF) by a wallet labeled “binance-insider” just before its listing on Binance, sparking speculation about insider trading.
While the lure of quick profits is tempting, the inherent volatility of memecoins requires a strategic approach, emphasizing the importance of informed decision-making for profitability.
“Allocate your budget wisely, remember the risks, and be prepared to count your profits,” Tracer said.
By Audy Castaneda