This Meme Coin Trader Made a Profit of Over $1.5 Million: Here’s How

TL;DR

• A whale turned $2.42M into $3.94M by buying and selling Cat in a Canine World (MEW), whereas one other turned $158 into $5.6M with CHILLGUY, showcasing the excessive revenue potential of early investments.
• Nonetheless, meme cash are extremely risky and plenty of lack intrinsic worth, making thorough analysis and cautious funding essential to keep away from important losses.

The Multi-Million Commerce

Meme cash are extraordinarily risky and permit folks to make substantial income, assuming they enter within the early days and money out on the proper time. One savvy dealer adopted that technique, buying 416.8 million Cat in a Canine World (MEW) tokens in July this yr. The transaction was value round $2.42 million on the time.

Lookonchain not too long ago revealed that the whale bought the stash for 16,270 SOL ($3.94 million), making a revenue of 6,270 SOL ($1.52 million).

The cat-themed meme coin noticed the sunshine of day in March this yr and its value was hovering at roughly $0.003 when the dealer jumped on the bandwagon. At present, MEW is value $0.009, representing a 200% improve since the July ranges. 

The dealer’s actions triggered combined reactions amongst X customers. Some highlighted the multi-million commerce, whereas others urged that the whale might have waited a bit longer earlier than cashing out for the reason that market is in a bull mode.

Not way back, one other dealer spent simply $158 value of SOL to buy 12.4 million CHILLGUY tokens. As of this writing, the stash equals practically $5.6 million. Recall that CHILLGUY started buying and selling in mid-November and was value round $0.007. It skilled a powerful rally within the following days and is at the moment standing at roughly $0.45.

Beware the Dangers

Whereas coping with meme cash can certainly result in substantial income, it could additionally end in essential losses. In any case, many of those belongings are primarily based on non permanent developments and lack basic worth in phrases of utility or intrinsic value. This means their costs would possibly head south in a really quick time period. 

These about to enter the ecosystem ought to observe some key guidelines to keep away from a devastating final result, equivalent to investing solely as a lot as they’re able to lose and conducting correct analysis beforehand.