Recently, there has been significant activity in the cryptocurrency market, highlighted by a trader turning a $13,000 investment into an impressive $2 million within an hour. This remarkable feat was achieved by investing in a new memecoin named Donotfomoew (MOEW) on the Base blockchain. Lookonchain, a blockchain analytics firm, shared the details of this rapid wealth accumulation.

Following the introduction of MOEW on decentralized exchanges, the trader swiftly acquired 499.9 million MOEW coins with 4 Ether. Subsequently, within the hour, they sold 111.65 million MOEW for 99 ETH, equivalent to approximately $328,000, while retaining 388.24 million MOEW coins valued at $1.76 million at the time.

MOEW, a lighthearted project developed by Bitget Wallet showcasing the power of memes, features a feline theme. Despite its playful origins, the token's value surged shortly after its launch, reaching a market cap of $31 million. Bitget Wallet cautioned users against succumbing to FOMO, as 50% of MOEW coins are permanently locked for LP addition, and the rest are designated for airdrop distribution.

Presently, over 8,000 addresses have received MOEW tokens through the ongoing airdrop, accessible to users holding sufficient BWB points for the exchange wallet's BWB token airdrop. During a six-week period, users could accumulate BWB points by maintaining balances in Bitget Wallet or through cross-chain swaps within the application, redeemable for upcoming BWB tokens in the next quarter.

The surge observed in both established memecoins like Dogecoin and newer ones on platforms like Solana and Base reflects the current bullish sentiment in the cryptocurrency market. For instance, Jeo Boden's (BODEN) Solana memecoin, parodying US President Joe Biden, surpassed a $250 million market cap. Additionally, significant price fluctuations were witnessed earlier in the week in Machi Big Brother's Solana memecoin following a $40 million presale.