A trader in the world of memecoins saw a staggering 94x return on investment by purchasing a memecoin named 'CTO' on the Solana blockchain. The trader acquired 256 million CTO tokens for just 50 SOL tokens, equivalent to $8,500. Shortly after, they sold 227 million tokens for 4,771 SOL, making a profit of around $800,000. Additionally, the trader earned $104,000 from a $3,400 investment in another token, PFI. While some speculate the trader is a memecoin enthusiast, others suspect insider trading. Despite individual successes, major meme tokens like DOGE, SHIB, and others experienced price declines in the past week. Notably, SHIB had the smallest drop due to a security breach at WazirX, where $100 million worth of Shiba Inu tokens were stolen, possibly by North Korean hackers according to analysts. Read more AI-generated news on: https://app.chaingpt.org/news