A wild thing happened in crypto last month.
No… this isn’t about Luna, the female anime character my wife discovered on my laptop.
That’s another story.
This one starts with a post on X.
It was posted by a kid of maybe 12 or 13 who goes by the moniker DizzyWhale.
He created a meme coin that made him over $2,000, so he went online to brag about it.
What’s the big deal about that?
Because what happened next is endemic to the craziness surrounding crypto today.
You see, DizzyWhale’s post took off in the meme coin community where it got over 3 million views.
I guess folks thought it was funny that someone that young could rake in $2K before homeroom.
But the story doesn’t end there…
The Price of Fame
What do you do when you’re suddenly thrust into the spotlight?
You and I might react differently, but DizzyWhale did what many people do these days when sudden fame hits…
He tried to capitalize on it.
A couple days after his initial post, he launched his own cryptocurrency named GenZ Quant (QUANT) on a website dedicated to meme coins called Pump.fun.
Then he started livestreaming about it.
During the livestream, the price of the coin shot up…
And soon it hit a million dollars in value.
That’s when DizzyWhale decided to sell off all his tokens.
In the crypto community this is called “rugging.” Essentially, it’s a pump and dump, and it’s understandably frowned upon.
The token’s price cratered, dropping 54% in a matter of seconds…
But DizzyWhale thought he’d pocketed $20,000…
So he starts jumping around his room, flips off everyone watching and yells, “Thanks for the 20 bandos!” like he just pulled off the heist of the century.
It was an immature response for sure. But he’s a kid, and he actually pocketed closer to $30,000…
So I can give him a pass.
The crypto community, however, did not. The folks watching the livestream didn’t like his response at all, so they conspired to teach him a lesson.
Instead of letting the token die after DizzyWhale sold everything, people started buying it like crazy.
This caught the attention of a popular Twitch streamer known as xQc who brought over 180,000 viewers with him…
And the price went absolutely nuts.
Over the next four hours, the token skyrocketed to a peak market cap of $85 million.
Which means, had DizzyWhale just held onto his tokens instead of selling early, he could have made over $4 million.
But you shouldn’t feel too sorry for the kid…
I’m Sorry (for $13K)
The thing is, QUANT never would have shot up that high in the first place without DizzyWhale’s antics.
As a meme trader who goes by SaaS Wiz told Decrypt.com: “The kid did nothing wrong. He never promised a long-term roadmap or the future of finance. It’s a meme coin. This is all insanely speculative.”
And the story has a happy ending.
After all the hullabaloo died down, DizzyWhale created another token called I’m Sorry (SORRY.)
It eventually hit a $4.5 million market cap…
And he sold it for just over $13,000.
Because nothing says you’re sorry like $13K.
And I realize all this might sound crazy to you, but I assure you it’s just the latest in a weird trend of livestreamed crypto events.
One lady promised to go topless for token purchases, and a guy in Florida literally set himself on fire to promote his coin…
He ended up in the hospital with third-degree burns.
But here’s the thing…
Here’s My Take
After all this, you’re probably expecting me to tell you to avoid meme coins like the plague in this crazy environment.
But I’m not.
In fact, I’m telling you the opposite.
I believe there’s money to be made in smaller cryptocurrencies right now.
We’re still early in this latest crypto bull, and the spotlight is still mostly on bitcoin.
But it just topped $100K.
I believe all these bitcoin speculators will start looking for other opportunities in the crypto space…
And that will undoubtedly drive up the price of some of the smaller altcoins.
After all, that’s what happened during the last crypto bull…
When members of my Next Wave Crypto Fortunes had the chance to experience incredible gains.
Like partial gains of 4,000% and 18,000% on LUNA…
And partial gains of 1,900% and 9,555% on Solana.
I anticipate we’ll find similar gains during this run-up
But I do urge you to tread cautiously.
Personally, I wouldn’t chase a 12-year-old’s meme coin.
But I’m also not going to miss out on what could be the best time in years to make a lot of money on crypto.
And making money is what it’s all about.
Speaking of which…
Keep your eyes peeled for an urgent message from me.
I’m preparing an emergency briefing that involves something big coming next week.
Things are moving fast…
And I’m trying to get it to you just as soon as I can!
Regards,
Ian King
Chief Strategist, Banyan Hill Publishing
