Will These Memecoins Be The Next 10x?

Few things are more exciting than turning a small investment into a large investment over a short period. People lose billions in Las Vegas and Macau, hoping to hit the jackpot, even though they know the odds are stacked against them.

One great thing about crypto is that the odds aren’t stacked against us. As the crypto market cap grows, good projects and narratives increase in value. Sometimes opportunities appear, and if we seize them, they can result in tremendous gains quickly,

About one and a half weeks ago, I wrote an article about BLUB, the largest memecoin in the Sui ecosystem. At that time, BLUB had a $16 million market cap. Nine days later, it’s trading at a $39 million market cap. That’s 143% ROI in 9 days!

My thesis made sense, so I took the risk. The trade executed well, and I recouped some of my gains. Now, I’m ready to speculate on the next big meme play.

I have found an amazing opportunity. The more I write about it, the more excited I get. No other influencers are talking about this, and I believe you will agree there is sound logic after reading this.

First, I will share the thesis on my newest investments, and then I will share exactly what I’m buying.

My Thesis

I’ve noticed that three new Layer 1s—SUI, APTOS, and SEI—are trading together.

Over the past year, here’s what SUI and APTOS look like:

And here’s what SUI and SEI look like:

Until today, I had no exposure to the Sei ecosystem. But after readers mentioned it in comments and the price of SEI popped by 55% in a week, I decided it was time to take a closer look.

Here’s what I found. Sei had $70 million in TVL in July, which exploded to $200 million in September!

Digging deeper, I noticed very few native coins in the Sei ecosystem. I’m assuming most investors here are farming airdrops on Yei Finance and Dragon Swap. The second largest Dex, Jellyverse, has a token, but its market cap is higher than the total value locked in the Dex.

There’s a Solidly fork called Yaka Finance, but no token yet. There are also a couple of other small dexes and derivative platforms. From looking at Sei in the past, I know that NFTs are popular, but my NFT budget is going all in on Ordinals.

What does that leave us with? You guessed it- memecoins! Next, I explored the memecoins in the Sei ecosystem and was amazed at what I found.

At the time of writing, only three memecoins in Sei have liquidity. Dragonswap, the largest Dex, is nice enough to have a ‘meme’ tab. While there are several options, only SEIYAN, MILLI, and POPO have even a semi-decent amount of liquidity.

My mind worked quickly.

• SEI's market cap is up 55%, drawing in many eyeballs and potential new investors.

• The TVL on SEI has jumped to over $200M. When I last looked earlier in the year (June), it was around $25M, and the price of SEI was higher!

• There are only three memecoins on Sei that are being traded. There are few other options to purchase native tokens on Sei.

• I need to own these tokens in case speculators want beta on SEI. Luckily, Sei is EVM compatible, so bridging and getting exposure on all three of these memecoins was easy.

A Deeper Look Into The Sei Memecoins

Token #1: SEIYAN
Current market cap: $12.3M
Liquidity: $650K
Number of holders: 7,365
Website: https://seiyantoken.com/

Seiyan is the biggest memecoin in the Sei ecosystem and has less than a $15M market cap. The token launched earlier in the year and peaked about five times higher than where it trades today.

In the past 30 days, SEIYAN has risen by 107%. This is good, but I can see it going much higher.

Token #2: MILLI
Current market cap: $1.9M
Liquidity: $85K
Number of holders: 2,589
Linktree: https://linktr.ee/millicoinsei

MILLI is a dog-themed memecoin. Like Seiyan, it launched earlier in the year. In March, MILLI peaked at ten times the price of where it’s trading today.

Over the past 30 days, MILLI is up 192%. If it can equal Seiyan’s market cap, that is 6x from here. Sign me up.

Token #3: POPO
Current market cap: $700K
Liquidity: $105K
Number of holders: 1,407
Website: https://popome.me/

Popo The Cat is the newest Sei memecoin with liquidity that I found, and it launched in August. If it doesn’t wind up being a rug or pump and dump, it could be the best performer based on its current market cap.

This is a speculative play, and time will tell if this memecoin can tackle the millions or gets sold off into the memecoin graveyard. I’m willing to take the risk, understanding that my investment could disappear by tomorrow.

How and where I bought these memecoins

As mentioned earlier, Sei is compatible with Ethereum. Below are the instructions for linking your Ethereum wallet with the Sei. I copied and pasted these instructions from the Sei telegram channel.

‘To ensure your Sei and EVM addresses are correctly linked, please use the Sei app. Navigate to https://app.sei.io/ and look for the ‘Addresses’ box on the Dashboard. Complete the captcha if required, then click ‘Link Addresses’ and sign the message with your wallet. This will link your Sei and EVM addresses, ensuring they are correctly associated.’

After linking my address, I bridged funds using https://app.symbiosis.finance/swap. Initially, I sent USDC from Arbitrum and converted it to SEI on the Sei network. You don’t need much for gas, so $1–2 worth of SEI is good, but there are also small bridging fees.

After bridging the rest of my USDC as USDC, I converted the stablecoins into the memecoins at https://dragonswap.app/swap. I bought equal amounts of all three, but the lower market cap plays are more volatile and risky.

Risks to consider

Thinking about risks before making a highly speculative trade like this is important. When it comes to memecoins, I’ve experienced them losing all their value, and that’s the worst-case scenario.

However, my thesis may be completely invalidated for the following reasons:

• These have all run up over 100% in the past month and could be due for pullbacks.

• Bitcoin may dump and take down the altcoin market with it. Memecoins, which are lower-cap and more speculative, can be hit harder.

• Sei may not attract degens. Perhaps the rise in TVL is just from farming and for yield.

• The first two tokens may have bagholders from the big rises earlier in the year and may offload if the price increases. The last one may have snipers or devs looking to dump on retail.

While all these conclusions can occur, I remain optimistic because degens seem to follow the money. I can hold these memecoins for the next memecoin or SEI pump if Bitcoin dumps. Finally, my risk is contained as I’ve only put a relatively small portion of my portfolio into these three coins.

Key Takeaways

Getting into memecoins at low market caps can be exciting and profitable. It’s not unusual to have massive volatility throughout the day. Also, a sub-million memecoin can easily fly to $5-$10 million if a big influencer shills it.

I’m excited to see how this investment plays out. There are few Layer 1 ecosystems with only three memecoins with decent liquidity. Also, the massive increase in total value locked and wealth increase by SEI holders can/should flow into other parts of the ecosystem.

Clap for this article because it helps me. I’ll bet 99% of people reading this haven’t heard of these memecoins, illustrating what kind of opportunities they may bring.

Thank you for reading. I appreciate the comments as well. A response from another article prompted me to find these plays, so let me know your thoughts on anything related to crypto.

I own SEIYAN, MILLI, and POPO. This information should not be taken as investment advice. I am no more qualified to give financial advice than to win a nacho-eating contest in Strongsville, OH. Digital assets like crypto and NFTs involve risk, so you should always perform due diligence before investing.

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