Indonesia's Memecoin King Raises $1.8 Million in Presale

Upon launching a memecoin presale for his NFT-memecoin hybrid Base project, Sultan Gustaf Al Ghozali raised an impressive $1.8 million, exceeding his initial target of $1.3 million. This success mirrors the recent surge in memecoin popularity, particularly on the Solana platform.

Sultan Gustaf Al Ghozali Raises $1.8 Million in Memecoin Presale

Indonesian internet sensation Sultan Gustaf Al Ghozali has once again made waves in the cryptocurrency industry by successfully raising $1.8 million through a memecoin presale for his latest project.

Last year, Ghozali garnered international attention and earned over $1 million by selling non-fungible tokens (NFTs) of his daily selfies. The venture, which Ghozali initially dismissed as a "stupid idea," became an unexpected viral phenomenon.

Leveraging the renewed interest in memecoins, Ghozali launched a project on March 24th that seamlessly intertwines memecoins and NFTs on the Base blockchain. The initiative garnered immense support, amassing 527 ETH, equivalent to approximately $1.8 million. Ghozali has since pledged to refund investments surpassing the initial cap of 400 ETH.

This accomplishment aligns with the recent resurgence of memecoins, particularly among Solana traders who collectively raised a record-breaking $100 million in presales between March 15th and 18th. Base blockchain's reported total value locked (TVL) reached an impressive $2.13 billion as of March 23rd, suggesting a potential shift in the memecoin frenzy towards its platform.

While memecoins are widely acknowledged for their inherent risk and lack of intrinsic value, asset management firm Franklin Templeton has highlighted their potential to generate substantial returns for investors. The ongoing memecoin trend exhibits no signs of diminishing anytime soon.

In a related development, the Everyworld Web3 platform has witnessed a remarkable surge in popularity, boasting over 225,000 users during its beta phase.

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