A month after investing $8,300 in a memecoin with a frog picture, an Ether trader is now $6M richer due to the token’s meteoric price increase on April 11.
The market capitalization of the memecoin Apu Apustaja (APU) increased to nearly $200 million on April 11 due to a significant price surge.
Before its recent price movement, the blockchain analytics firm Lookonchain predicted a trader’s intention to invest in APU a month in advance.
March 11 witnessed four transactions in which the merchant amassed approximately eight billion Apu Apustaja (APU) tokens. The cryptocurrency trader acquired 300 million tokens in two separate transactions on March 13 and 24.
The merchant invested a cumulative sum of 2.38 ETH in the memecoin, valued at approximately $8,300. The tokens reached an all-time peak of $0.0007907 on April 11, equating to roughly $6.5 million.
The memecoin merchant transferred six transactions’ worth of funds to an alternative cryptocurrency wallet on April 12. This may indicate that the trader intended to transfer the tokens to a different wallet or has decided to sell them via a peer-to-peer (P2P) transaction.
Additionally, community members expressed their thoughts on what they believed might have transpired. While one X user commended the token holder for “still holding,” another speculated that the cryptocurrency wallet belonged to a developer.
A trader wins a $2 million windfall after investing $62 in a Solana memecoin.
While numerous traders exhibit perseverance in their investment strategies, a subset promptly liquidates their profits, preceding potential millions.
Before the price increased on March 15, a merchant purchased 170 million Book of Meme (BOME) tokens on March 14 and sold them for $131,000. The trader forewent a possible profit of $2 million at present market prices.
An additional trader of memecoins capitalized on the commotion by rapidly amassing $2 million from $13,000 in less than an hour. The trader became aware of the debut of the memecoin Donotfomoew (MOEW) on decentralized exchanges (DEXs) on April 3.
An hour after the trader paid 4 ETH ($13,000) to acquire nearly 500 million MOEW, their value increased to approximately $2 million.
