Sultan Gustaf Al Ghozali has made news once more in the cryptocurrencycurrency industry, raising $1.8 million through a memecoin presale for his new project.
Ghozali launched a project on March 24th that mixes memecoins with NFTs on the Base blockchain, capitalizing on the resurgence of memecoin popularity. The initiative surpassed its fundraising goal, generating 527 ETH, or nearly $1.8 million. Ghozali promised to repay investments that exceeded the initial 400 ETH cap.
This result is consistent with the current spike in memecoin popularity, particularly with Solana traders, who raised a record $100 million in presale between March 15 and 18. Base’s reported total value locked (TVL) of $2.13 billion as of March 23 indicates that the memecoin fever is transferring to its platform.
While memecoins are inherently hazardous and lack fundamental value, asset manager Franklin Templeton argues that they can still provide investors with fast gains. The memecoin movement shows no signs of slowing down anytime soon.
