The pseudonymous NFT collector turned celebrity meme coin creator Ben.eth has racked up over $7 million in ETH sales over the past seven days through the pre-sale of his next memecoin called $PSYOP.
Investors were eager to get involved in Ben.eth’s latest meme coin project in the wake of the success of its first meme coin launch called $BEN.
$ ben Enriched its early investors with a rally of over 5,000% in one day on 8th of May, which was precipitated by an endorsement from crypto influencer ben armstrongwho eventually acquired the project from ben.eth for an undisclosed fee.
The success of the unconventional PSYOP pre-sale has fueled investor enthusiasm to get started on the next trending meme coin, despite Ben.eth’s pre-sale having some serious red flags.
Investors were asked to send money directly to Ben.eth’s Ethereum address and they did so in large numbers, bringing the total paid out to more than 3,843, despite the risk that the pre-sale could have been a rip off.
PSYOP Claims Massive Market Cap Immediately
But a rag bridge it was not.
Ben.eth launched the token on Uniswap late Thursday and immediately began broadcasting the new token to pre-sale participants.
With PSYOP immediately reaching a market cap of approximately $570 million, airdrop receivers are encouraged not to transfer or sell their tokens, lest they miss out on receiving more tokens in the second phase of the airdrop.
This is limiting the selling pressure for now, and keeping trading volumes under pressure – according to deck equipmentOnly about $8.7 million was traded in PSYOP in the last 24 hours.
In terms of what’s next for the project beyond additional airdrops, Ben.eth just announced that a website will be up and running soon.
ben.eth may have also found itself in legal trouble over pre-sales.
Mike Kanowitz, owner of the law firm Lowy & Lowy, announced on Twitter on Friday that he would be filing a class action against ben.eth unless it immediately returned all the ETH collected in the pre-sale.
Other Meme Coins to Consider
Ben.eth has generated a lot of buzz with its $PSYOP meme coin launch, but the launch was not without controversy.
In addition to potentially facing legal troubles over the pre-sale, some early investors found they lost almost all of the ETH they attempted to use to buy PSYOPs through slippage.
Investors may want to consider alternative meme coin investments that hold the potential for massive upside.
Here are two meme coin projects that Cryptonews.com analysts are watching right now.
Copium Token (COPIUM)
After a few days of hype building and an invite-only pre-sale, kopium token (COPIUM) was launched on Thursday and made an explosive start to life.
COPIUM touched a high of $0.016 on Thursday, more than 16 times its pre-sale and listing price of $0.001 and has seen a huge trading volume of over $44 million in the last 24 hours.
COPIUM/USD was last changing hands at around $0.06 per token, meaning its early investors are still in the green and the token is approaching 3,000 holders.
Given the token’s 1 billion supply, this means a fully diluted market capitalization of approximately $8 million.
But amid the impressive list of influencers who are involved in the project, along with a range of media partnerships that will help market the coin, the coin can still pump up a lot.
One of the biggest selling points of COPIUM is the project’s token and NFT airdrop contest, designed to incentivize HODLing for at least the next three weeks.
Another great selling point is that pre-sale participants are not able to dump their holdings in the market.
Only 10% of their tokens were unlocked at the time of the Uniswap listing, with the rest to be vested over the next three weeks.
Copium’s fun take on the theme of crypto minus their need to deal substantial losses means it could be a huge hit, as many people in the crypto space can relate to.
ADOGE (AI)
adogA fun AI-powered meme-generating tool and social media platform, it could be a huge hit as it is not only a meme coin but also boasts a solid use case and utility.
AIdog is building a platform where users can create memes using breakthrough generative AI technology, before sharing them with the AIdog community via the platform’s public wall.
Creators of the most popular memes will be rewarded with AiDog’s native $AI token, meaning AiDog is bringing the concept of “meme-to-earn” (M2E) to reality.
AiDog has already raised a whopping $9.9 million through a public pre-sale of its native $AI token and investors should move quickly while they can still secure the token, which observers say How high is the potential to go into $ai.