Franklin D. Upton: Meme coins may offer investors a quick profit opportunity

2024/03/14 11:23

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Franklin Dumptun's digital asset team stated in a report this week that although Meme coins have no intrinsic value proposition, there is a "close relationship" between their soaring prices and the growth of user wallets on the underlying blockchain. Such tokens may provide "opportunities for investors to make quick profits" and have gone viral over the past year due to their unique nature. The report found that active addresses on various blockchain networks are growing with the surge in meme coin trading activity on these specific chains. Last year, the crypto market saw parabolic growth of various Meme tokens, among which Solana-based BONK in Q4 2023 was most notable. Solana's daily active user address increased by 75% month-on-month.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Goldman Sachs Volatility Panic Index surged to 9.57, approaching its maximum value, with the largest single-day increase ranking third in history, and the combined two-day volatility setting a new record. Historical data shows that after this index has exceeded the 9.5 threshold 15 times, the S&P 500 has seen an average three-month gain of 4.6% with a success rate of 80%. However, Goldman Sachs traders warn that forced liquidations have not yet fully cleared, and the market is still searching for a bottom, but opportunities on the other side are becoming increasingly difficult to ignore.

华尔街见闻•2026/11/07 07:31