A Trader’s Wild Journey: Turning $13K Into $2M In One Hour with A Memecoin Surge Of 15,700%

By Ben Knight April 05, 2024 In Cryptocurrency, Investing, Memecoins
  • Bitget wallet released a meme coin last week called donotfomoew, repeatedly telling investors that it’s a bad idea to purchase the digital currency.
  • Contrary to the developer’s assurances, it was actually an incredibly GOOD idea to buy the coin – at least for one lucky holder.
  • An anonymous wallet purchased 4ETH (USD $13K) worth of the meme coin, only for their holdings to explode into the millions within an hour.

Be honest. No matter how “mature” and “risk-averse” of a crypto trader you are, if you’ve ever invested in the digital currencies a little piece of you has dreamed of becoming an overnight millionaire. Every time you reasonably dollar-cost average a sensible amount of money into Bitcoin, the devil on your shoulder is saying “just chuck your life savings into a meme coin.” And most of the time, letting those intrusive thoughts win ends badly – just ask Anakin Skywalker in Revenge of the Sith. But sometimes…just sometimes…it’s good to be bad.

Related: Trader Updates Outlook on Altcoin That’s Exploded Over 1,000% Year-to-Date, Maps Path Forward for Bitcoin

The Token Does Nothing!!! Nothing!!!

The story begins with BitGet Wallet releasing their latest project – Donotfomoew (MOEW)– a meme coin that literally tells its buyers to NOT FOMO invest. In their announcement of the coin, BitGet explicitly states that the project does nothing and is purely a test to examine “the power of memecoins”.

Well, apparently meme coins are akin to conducting alchemy, because they can turn basically anything into gold (or millions). A smart (or lucky…) trader was one of the first to cash in on the new coin, swapping out 4 ETH – valued at around USD $13K – for 388 million MOEW.


Within an hour, that USD $13K (AUD $19.7K) had exploded in value to an absurd USD $1.76M (AUD $2.67M). Unlike many who have shared this situation in the past, this particular trader didn’t get greedy and sold most of his MOEW, taking some (but not all) of his 15,700% gains to the bank. 

BitGet, upon hearing the news, doubled-down on their message telling investors NOT to buy the coin…which at this point seems like targeted reverse psychology.

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Ben Knight

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.

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