Crypto News

Ethereum-Based Memecoin $MOG Surges 57% Amid Market Activity

Ethereum and its associated memecoin, $MOG, have seen a significant surge, with $MOG’s price increasing by 57% in the past 24 hours. This boost has propelled its market cap to over $351 million.

One notable participant in this rally is an address named “mogillionaire.eth.” This address spent 8.8 $ETH (approximately $16,000) to purchase 3.37 trillion $MOG tokens and registered the domain name “mogillionaire.eth” on July 24, 2023, aspiring to become a millionaire by holding $MOG. 

Remarkably, this dream came true seven months later on February 27, 2024. At its peak, the 3.37 trillion $MOG was valued at more than $4 million and is currently worth $2.83 million.

Top Popular Whale Wallet Sells $MOG To Buy $WOJAK

Meanwhile, in a notable transaction, the address “dimethyltryptamine.eth” sold $MOG to purchase $WOJAK. This address is legendary in the crypto community, having turned $251 into $26.9 million by trading $PEPE, achieving an astounding 107,000x gain. 

“Dimethyltryptamine.eth” originally spent just 0.125 $ETH ($251) to buy 5.9 trillion $PEPE and has sold a total of 3.95 trillion $PEPE for 2,505 $ETH ($4.7 million). Currently, this address holds 2 trillion $PEPE, valued at $22.2 million.

The trading activities of these high-profile addresses reflect the volatile and speculative nature of the memecoin market. The surge in $MOG’s price and market cap showcases the significant impact that a few strategic trades and market movements can have on the valuation of a cryptocurrency.

As $MOG continues to gain traction, the actions of influential traders like “mogillionaire.eth” and “dimethyltryptamine.eth” will likely remain under close watch by the crypto community. Their movements can offer insights into potential market trends and investor sentiment, underscoring the dynamic and rapidly changing landscape of cryptocurrency investments.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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Image Source: maximusnd/123RF // Image Effects by Colorcinch

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