In a stunning move, an anonymous cryptocurrency trader has pocketed over $9 million after making a strategic bet on the newly launched Solana-based memecoin. With just a $3,000 investment, the trader capitalized on the explosive growth of Numogram (GNON), a low-cap memecoin that debuted on October 17.
Onchain tracker Lookonchain recorded a staggering 3,000x return on investment, the company revealed in a post on Oct. 20. The trader used three separate wallets to accumulate 56 million GNON tokens before selling a portion, netting millions of dollars in profits.
This isnât the first time a memecoin has generated huge returns for early investors. In May, another lucky trader turned a $3,000 investment into $46 million by capitalizing on the surge in the price of the Pepe (PEPE) token.
Memecoins may not have any real-world value, but they have proven to be a gold mine for traders.
While many traders stick to established assets, those venturing into the wild world of memecoins often face extreme risks, but the rewards can be astronomical for those who do it right. Numogram (GNON), like many other memecoins, launched without significant utility or long-term promise, but that didnât stop early investors from rushing in, creating a hype-driven price surge.
In this case, an unknown traderâs ability to spot a potential price surge before it happened turned a modest $3,000 bet into a life-changing fortune in just 72 hours. The memecoin market is notorious for such rapid volatility, where assets can be madeâor lostâalmost overnight.
While itâs tempting to jump headfirst into the next big memecoin, experts warn that for every success story like this, there are countless others who will lose. Timing, luck and strategy are everything in this fast-paced corner of the cryptocurrency world, where greed and fear rule.
For those brave enough to take the plunge, however, the story is a prime example of how a well-timed bet on memecoin can turn a small investment into millions of dollars. Itâs a high-stakes game, but as this trader has proven, gold can be struck with the right moves.
