WYNN For The Win: Drake’s Memecoin Up 152% In 24 Hours, Puts Shiba Inu, Dogecoin In Their Places

WYNN (CRYPTO: WYNN), the memecoin tied to rapper Drake, continued its stratospheric rise over the weekend. It’s up 152% prior to now 24 hours and at the moment stands at over $40 million in market capitalization.

What Occurred: WYNN simply retains profitable. The memecoin, known as Anita Max Wynn in its entirety, exploded to greater than $40 million in market capitalization, nearly touching the $60 million mark at its preliminary peak.

It has gone from 0 to (nearly) 60 in simply 11 days, fueled by the endorsement of rapper Drake. The 24-hour buying and selling quantity of $17.6 million signifies WYNN is the token everybody on Solana (CRYPTO: SOL) is interested by — for now.

Why It Issues: Solana has had its justifiable share of memecoin stars difficult the established order:

Established canine coin stars like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) would possibly really feel like their territory is being encroached on. However this doesn’t come as a shock, as Dogecoin is up a modest 1.9% over the previous seven days. Shiba inu rose a wholesome, if unimpressive 5.0% within the final week, even underperforming a serious like Ethereum (CRYPTO: ETH), up 11.6% throughout the identical timeframe.

Learn Additionally: Will This Meme Coin Make You Rich? Avalanche’s Mystery Collection Could Change Your Fortune

What’s Subsequent: Unsurprisingly, WYNN traders are fancying their possibilities that this memecoin celebration is simply getting began:
“Many don’t perceive $WYNN is the $SHIB of this cycle and it’s taking place infront of your eyes @Drake will grow to be the mover of markets! $WYNN sits at 45M this morning historical past is being made. Essentially the most entertaining consequence is at all times the probably. Conviction!” https://t.co/59OWGMG8YC pic.twitter.com/RcsgQIobfJ

— palgrani (@Palgrani) January 15, 2024

Requires a memecoin to “grow to be the subsequent Dogecoin/Shiba Inu” should not unusual, however they’re on the rise for WYNN.

0xStari, an nameless X consumer that presumably invested in WYNN, tweeted: “STARTING TO REALIZE THE $SHIB OF THIS CYCLE CAME TO US AS DRAKE AND NOT ELON ANITA THE MAX $WYNN.”

Enthusiastic traders could need to needless to say what goes round comes round: memecoins are significantly prone to brutal price corrections.

Learn Subsequent: Crypto Analyst Foresees Upswing In Bitcoin’s Value Before Major Plunge

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