Memecoin Season still In Play
Bald coin is the latest memecoin to surge 10,000% making millionaires over the weekend
The coin with no website had its price soar on the decentralized exchange Leetswap to a peak of around $0.085, as market-cap also soared above $85 million, according to Dexscreener data. The asset’s trading volume during the period reached a staggering $100 million.
The burst was short-lived though as records suggests that its price sharply declined thereafter more than 80% after its developer withdrew millions worth of liquidity, prompting speculations from some of the memecoin community involved in the project of a rug pull.
The developer was quick to snab these claims on X (formerTwitter) stating that the transactions were necessary to add liquidity to the token.
It is noted that the deployer withdrew 7,000 ETH and 142 million BALD tokens worth $13 million. The deployer’s address presently holds 12,000 ETH nearly worth $23 million.
Degens and Early invester celebrate The Huge wins from $BALD
At its peak, early investers made staggering profits as seen from some twitter accounts. One made an investment of $500 into the the memecoin and made over $1.5 million. at its peak.
On July 29, a popular crypto invester @Cheatcoiner tweeted that he purchased 2% of the asset below the $50,000 market cap.
According to Lookonchain, four addresses came to the limelight after they spent spent around $1,000 to buy 5% of the asset’s total supply of 50 million BALD tokens.
These wallets made $1 million in a day after its value soared. The addresses were purchased 4 minutes after the digital asset started trading, and Lookonchain suggested that the buyers were probably insiders.
In Conclusion
It has become a question of How? those addresses cashed out their income as the Base network lacked a mainnet bridge connecting it to Ethereum.
It is safe to say that memecoin season could still be in play leading into the next Bullrun so keep your your bags full because you might miss the next mooner if you blink
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