Are altcoins like PEPE and KAI capable of creating millionaires?

The cryptocurrency markets are down some since most coins peaked in March with Bitcoin’s price reaching $74,000 on Mar. 14. But several crypto coins have recovered in the first five days of May, including the O.G. — Bitcoin — and dozens of other currencies, especially meme coins like DogWifHat (WIF), Pepe Coin (PEPE), and Floki Inu (FLOKI).

While Bitcoin price edged up the chart just a little under 1% for the 24-hours ending around breakfast time in London Sunday morning, two meme altcoins, Dogecoin (DOGE) and DogWifHat (WIF) gained more than the base chain currency, 6.5% and 3.3% respectively. Meanwhile, Ethereum Kai Cat ($KAI) raised over $230,000 in its presale.

Why Traders Love Meme Coins Like PEPE WIF and KAI

On days and weeks that Bitcoin price surges 10%, 15%, or 20%, meme coins post exuberant gains like 100% in a single day. That’s what Bonk (BONK) tokens delivered to bag-holders on Dec. 15, 2023. Your grandfather had to wait for years to get that kind of return from most Wall Street stocks.

But altcoin gems have turned thousands into millions for many cryptocurrency investors in a matter of months or just a couple years. While that may sound too good to be true, if you do your own research on crypto market gains, you will find several altcoin projects have turned many investors into millionaires after they took a calculated risk with some of their savings.

It’s not just the founders of new cryptocurrencies and venture backers with deep pockets that have profited to the tune of millions from their investments in altcoins. There are many stories in mainstream news outlets about normal people who invested in a new altcoin gem and turned their thousands into millions in an almost unbelievably short amount of time.

For example, in Nov. 2020, Tommy and James, two jobless brothers from Westchester, New York, did some research into altcoins and each put $200 into Shiba Inu (SHIB).

Then they told their mom and dad, sister, and other relatives about this altcoin gem. As the SHIB price continued to rise up the charts, the family kept adding $100, then another, and another until the group had invested a total of $8,000 on the Ethereum meme coin.

By May 2021, CNN Business reported that the family’s initial $8,000 investment was worth $9 million on crypto exchanges. Over that same time period, investing in Bitcoin would have turned their $8,000 into $27,000 instead of $9 million. By taking a calculated risk on an altcoin gem instead of investing in stocks or Bitcoin this family accumulated generational wealth in 6 months.

What Are Altcoin Gems In Crypto?

According to crypto education portal BitDegree:

“Gems are coins that are not being noticed at the moment but will grow in value in the future. To put this in perspective, consider this – the top cryptocurrencies that are on the current market were once considered gems. For example, when Bitcoin first came around, almost no one saw its potential value.”

The best way to capture the most of the potential value in an altcoin gem is to buy in presale. Waiting until a coin is listed on crypto exchanges in an IEO (initial exchange offering) is a way to overpay and miss out on presale prices and profits.

That’s why Kai Cat (KAI) is closing in on $262,000 in presale token purchases at 1 $KAI = $0.0041 just hours before its next presale price increase. You can learn more about this new Ethereum AI meme token on its presale page.