Bloomberg: MEME coin billionaire reappears, betting to become "the first idiot to enter the market"

According to BlockBeats news, on March 16, Bloomberg’s latest article stated that a certain crypto investor has increased its holdings of more than 2 billion PEPE tokens. The other is also a millionaire in terms of "Hat Dog" (WIF). Some have already piled into established coins like Dogecoin. MEME coin "billionaire" reappears. Many tokens with no intrinsic value and fundamentals are rising much faster than Bitcoin, just as they were in 2020 and 2021, but in a completely different macro context. MEME coins are in high demand, with trading volume for the top MEME coin approaching $80 billion in the past week. These MEME tokens, sometimes called by a very rude alias, are also an easy entry point into the world of cryptocurrencies and are extremely risky. While Bitcoin has been increasingly adopted by the traditional financial world, smaller coins are mostly about hype and avoiding the dreaded “RUG PULL.” George McDonaugh, managing director of cryptocurrency investment firm KR1 Plc, said that to understand the role of Bitcoin or other large blockchains, "you may need to read a lot of white papers." For MEME coins, "just look at one." It's easier with the dog in the hat." And when market conditions are good, it's easy to make a profit. According to CoinGecko data, MEME coins such as WIF, Pepe, and Bonk have surged in price since late February, pushing their total circulating supply into the billions of dollars. As of Thursday, a single WIF coin was worth about $3.13, having surged more than 200,000% since its launch in December. And Bonk is up nearly 40,000% in just over a year.