$857 Becomes $2 Million Overnight with Pump.fun – How Did It Happen?
One lucky trader has turned $857 into $2 million after purchasing 23 million $FWOG meme coins, according to a tweet by wallet tracking X account Kakashi (@KKashi_YT).
That $857 $FWOG buy at pumpfun, is now worth over $2M https://t.co/mJ4uMJjlR9 pic.twitter.com/yHAT8pLM23
The trader’s initial purchase of $857 then set a new high watermark of $2 million before retreating to its current price, which is just short of $1.9 million.
The question meme coin fans are now asking themselves is whether this rally will go on, or whether they’ve seen the top already.
That’s an altogether trickier question to answer given that $FWOG is a barely month-old meme coin.
According to the chart, $FWOG has consistently set new highs since launch, with an all-time high of $0.09487 set on Monday.
Now, at its current price of $0.08207, $FWOG is 18% pricier than it was last Wednesday, it’s about 611% up from a fortnight ago, but still 14% short of recapturing ATH.
As the chart below indicates, since late August, $FWOG has been trading closer to resistance levels (diagonal red line) than to its bedrock support level of a dime (horizontal green line).
A rising relative strength index (RSI) of 53 indicates a lot of headroom for new all-time highs going into the weekend as buying momentum picks up.
Going by the trend lines, it’s very likely a downward rebound will happen once the token recaptures $0.90, the question is how far will $FWOG fall? Is it likely to go all the way back to a dime? It’s hard to say, but a strong Bitcoin ($BTC) will help prop it up.
That said, Bitcoin is having a tough day. The world’s original cryptocurrency fell 4% overnight and over the week to retail at $56,725 as of this writing.
$FWOG is a low-utility meme coin, which means
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