Sultan Gustaf Al Ghozali, has once again made headlines in the cryptocurrency world by raising $1.8 million through a memecoin presale for his new project.
Last year, Ghozali gained notoriety and earned $1 million by selling NFTs of his daily selfies, an endeavor he humorously described on social media as a “stupid idea” that found unexpected success.
Capitalizing on the resurgent interest in memecoins, Ghozali introduced a project on March 24th that combines memecoins and NFTs on the Base blockchain. The project exceeded its fundraising target, amassing 527 ETH, approximately $1.8 million. Ghozali pledged to refund investments exceeding the initial 400 ETH cap.
This achievement aligns with the recent surge in memecoin popularity, particularly among 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 suggests that the memecoin frenzy may be shifting to its platform.
While memecoins are inherently risky and lack intrinsic value, as asset manager Franklin Templeton points out, they can still deliver quick returns for investors. The memecoin trend shows no signs of abating anytime soon.
