May 16, 2024 - Economy

Charted: 🤷 Memecoins ascendant

A line chart that tracks the daily price changes of Pepe, Floki, two well known memecoins, versus Bitcoin, the original cryptocurrency, from January 1 to May 15, 2024. Pepe saw the most significant increase, rising 717%, followed by Floki, which rose 440%. Bitcoin experienced a more modest increase, of 46%. The memecoins trailed Bitcoin till late February when they took off.
Bitcoin price change against two of the hot memecoins of the moment. Data: CoinGecko; Chart: Axios Visuals

Question: What kind of investor could possibly be dissatisfied with 45% returns in five months?

Answer: A crypto investor.

A lesson for the ages: When bored on the blockchains, trade memecoins.


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