Trader turns $450 into $2 million bet on Avalanche Meme Coin Coq Inu
• Tendency
Multiple wins on meme coins based on
Solana have apparently led traders to seek out small-cap plays on other networks - with some having the chance to turn a tiny initial capital into a life-changing figure.
And while dog-themed tokens have generally generated outsized gains for coin traders, Avalanche's Rooster Inu (ROOQ), a hen-themed token, is leading the blockchain narrative. Data shows that the token was issued on December 8 and has since reached a capitalization of $230 million on Wednesday, creating considerable profits for early buyers.
The token is “for entertainment purposes only,” a fact that the developers make no bones about: “$COQ is a meme coin without dollars on Wednesday, creating considerable profits for early buyers.
The token is “for entertainment purposes only,” a fact that the developers make no bones about: “$COQ is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap,” we can read on the site.
“The piece is completely useless and serves purely for entertainment purposes.”
A single trader apparently acquired just over $450 worth of COQ shortly after it was issued and the amount has since ballooned to over $2.5 million, according to on-chain data cited by Lookonchain. The wallet has apparently sold over $1.5 million worth of COQ so far and is based on over
$800,000 in unrealized gains.
A trader turned $454 into $2.19 million in 2 weeks by trading $COQ, a gain of 4827x! This trader spent $17.26