A cryptocurrency trader on the Solana network has managed to achieve a staggering 3,329-fold return in four days through a little-known meme-inspired cryptocurrency, turning $727 into more than $2.4 million.
According to data shared by on-chain monitoring services Lookonchain, the cryptocurrency trader spent 5 Solana (SOL) tokens to buy 15.15 million $GOAT four days ago, and has recently sold 5.7 million of those GOAT tokens for a whopping 5,949 SOL worth over $930,000.
The trader is still holding onto around 9.45 million tokens worth $1.5 million at the time of writing.
Various traders have managed to make millions off of memecoin investments this year, with one trader, identified on-chain by the alias “sundayfunday.sol,” turning a $72,000 investment into a staggering $30 million within just three days trading a little-known cryptocurrency.
As reported, a patient’ cryptocurrency trader has recently managed to turn around $8,600 into over $1.26 million after investing in a little-known cryptocurrency and holding onto it for two months to secure their gain of 144x.
The trader’s gains came after another cryptocurrency trader managed to turn 500 SOL tokens worth around $67.000 into 5,789 SOL worth over $780,000 in just 15 minutes after managing to “snipe” a large portion of a newly launched cryptocurrency’s supply.
There have also been significant losses, with a Solana trader losing $37,000 while speculating on a memecoin over their emotional trading pattern. It’s worth noting memecoin are extremely speculative and volatile, and while stories of successful trades often surface, those of unsuccessful trades are often buried.
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