Trader hits $6M pay dirt after spending $8K on Ethereum memecoin

A trader of Ethereum (ETH), with an initial investment of $8,300 in a quirky memcoin represented by a frog theme just a month ago, now finds themselves astonishingly wealthier by 750 times over, following the dramatic surge in the token’s value.

On April 11th, the cost of a humorous digital currency named Apu Apustaja (APU) significantly increased, bringing its total value in the market up to nearly $200 million.

A blockchain analysis company called Lookonchain identified a trader who bought into APU’s stock a month prior to its recent market fluctuations.

Trader hits $6M pay dirt after spending $8K on Ethereum memecoin

On March 11, the cryptocurrency trader executed four deals, amassing approximately 8 billion Apu Apustaja (APU) tokens. Subsequently, they acquired an additional 300 million tokens in two separate transactions: one on March 13 and another on March 24.

The trader bought memcoins for a grand total of 2.38 Ether (approximately $8,300). On April 11th, the token reached its peak price of $0.0007907, increasing the value of these tokens to around $6.5 million.

On April 12, the memecoin trader carried out six transactions, shifting the funds from one crypto wallet to another. It’s possible that this action was taken for the sake of organizing their digital assets or with the intention of selling the tokens in a peer-to-peer (P2P) exchange.

Trader hits $6M pay dirt after spending $8K on Ethereum memecoin

Some community members expressed their thoughts on the situation, with one admirer of X commending the token holder for their patience, and another speculating that the cryptocurrency wallet could have been owned by a developer.

Some traders eagerly take profits from their trades, forfeiting the possibility of earning larger returns by exhibiting restraint and waiting longer.

On March 14, an investor purchased approximately 170 million Book of Meme (BOME) tokens from the market for around $131,000. However, before these tokens saw significant price growth on March 15, the investor chose to sell them, resulting in a missed opportunity to earn potential profits totaling nearly $2 million based on current market values.

Simultaneously, a memecoin investor made a fortune during the craze, converting an initial $13,000 into $2 million within an hour. On April 3, this investor became aware of a new memecoin named Donotfomoew (MOEW) as it began trading on decentralized exchanges (DEXs).

With a investment of 4 Ethereum (approximately $13,000), the trader acquired around 500 million MOEW tokens. Their value then increased to roughly $2 million within an hour.

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2024-04-12 16:07