110x Return in 3.5 months: Trader became Paper Millionaire with this meme coin

110x Return in 3.5 months: Trader became Paper Millionaire with this meme coin

2 minutes, 17 seconds Read

Tl; Dr.

  • Due to their volatile nature, Meme Coins have created a different success story, making a relatively small investment a huge fortune.
  • However, that precise nature has also led to countless crashes in the past, so traders must be wary when they deal with it and do not blindly follow and invest.

This specific example of substantial ROI comes from the Mun troll of the meme. Currently it has a market capitalization of just over $ 100 million and places it through that metric within the top 500 alts.

Based on the Solana network, it is a meme coin inspired by the online troll culture, designed for “entertainment and community involvement without intrinsic value.”

Although the description acknowledges that it is not missing intrinsic value, this has not prevented certain traders from investing millions in it, which transforms it into a very popular meme token with lower lakes.

The anonymous trader noticed by Lookonchain spent more than $ 23,000 to collect 27.86 million coins more than three months ago. They almost immediately thrown away a small part, perhaps to cover a large part of their initial investment in the midst of the first price pump, but now have more than 26.5 million tokens.

Given the enormous increase in Troll in recent months, because it has been actively rising by 570% since 5 July, the fortune of the trader has been raised to be worth nearly $ 2.5 million at the time of lookonchain’s post.

Such impressive returns are not isolated events in the cryptocurrency industry, especially in the coin space of the meme. You can find a different similar example here.

However, their notorious volatility has also resulted in painful price accidents that have wiped out millions of non -realized profit, such as this trader who went from a paper profit of $ 5.2 million to a loss of $ 335,000 in months.

Meme coins are inherently volatile because they tend to respond more dramatically to bull runs and bear markets. Traders not only have to enter FOMO on the basis of some success stories. They have to do their own research and allocate money to memes they are willing to lose.

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