Another crypto memecoin has taken the spotlight, and traders, especially those who invested early are making crazy money from it.
This new memecoin is called “JELLYJELLY. It was launched earlier today, and immediately gained traction within hours. In the first hour, its market value reached $170 million and continued to rise.
JELLY JELLY is different from other memecoins. It is paired with an app called “Jelly” that lets users record and share video conversations using the token for access.
The coin received a significant boost when Sam Lessin, a co-founder of Venmo and the former VP at Facebook, mentioned it in a post on X (formerly Twitter). He posted about its launch, stating it was “making the Internet fun again.”
Lessin said he does not personally own the tokens himself. But with his name attached to it, everyone started getting interested in a matter of seconds, bringing in more traders who were searching for quick gains.
JELLY JELLY Price Surge
At the time of writing, JELLYJELLY’s market cap is over $218 million, marking an incredible 208,000% increase. The token’s price shot up so fast that traders who bought early saw massive gains.
Even crypto platform Bybit quickly added JELLYJELLY for future trading in no time, offering a JELLYJELLY/USDT Perpetual Contract in its Innovation Zone. That means investors can bet its future price with a 20x leverage, but it comes with a high trading fee, and therefore, a high-risk, high-return option.
Crazy Profit Stories
Many early investors who quickly got on the coin have been reporting their earnings. For instance, one trader named “Adama23456” posted on Nairaland that he invested $5 on the memecoin when a crypto influencer mentioned a “whale” buying in. According to him, he woke up to $1,280 when its market value reached $170 million.
Data from DEXScreener shows that some top traders made over $1 million in just a few hours. One trader flipped $1,592 into $1 million, while another turned $75,600 into $1.5 million trading the token.
Crypto influencers and trader Mansa Musa posted on X, “I bought $JELLY for $10,000 when it was below $2 million market cap & now it’s worth $1,321,585. I am at a loss for words right now.”
But despites its explosive start, many traders think it might end up as a “pump and dump.” Time will tell, but for now, early investors are celebrating their wins.
Also Read: Litecoin jumps 11% as SEC Acknowledges Canary’s Litecoin ETF
