The appeal of cryptocurrencies often lies in their potential for high returns, despite the obvious risks.
As the interest of institutional investors grows, experienced investors rarely turn small savings into amounts that can radically change their lives.
On November 25, in one such deal, a user managed to make about $1.5 million in profit in just one hour, while his initial investments amounted to only $6,300.
To make the purchase, 25 Solana (SOL) were required, which he exchanged for 297 million meme coins FRIC (FRIC), issued by South Korean artist dricstudio (data from Lookonchain).
Interestingly, 297 million FRIC accounted for approximately 29.7% of the total circulating supply. Subsequently, the crypto trader carried out over fifty transactions, exchanging 258 million FRIC for 4,693 Solana, which at that time equaled $1.18 million.
Considering the funds spent by the user to acquire Solana, the lucky trader made a profit of about $1.17 million. Additionally, he also holds approximately 39.08 million FRIC.
Sudden price spikes, especially of meme coins, carry significant risks. Most often, creators or insiders who control substantial volumes of supply pumped assets to 'set up' investors and traders, making incredible profits and leaving the majority with losses.