A cryptocurrency trader on the Solana network managed to achieve an astounding 3,329x return in just four days, turning a modest $727 into more than $2.4 million through a little-known meme-inspired cryptocurrency.

Massive Gains from a Little-Known Token

According to data shared by the on-chain monitoring service Lookonchain, this trader spent 5 Solana (SOL) tokens four days ago to buy 15.15 million $GOAT tokens. Recently, they sold 5.7 million of those GOAT tokens for an astonishing 5,949 SOL, valued at over $930,000 at the time.

As of writing, the trader still holds approximately 9.45 million GOAT tokens, worth around $1.5 million.

Million-Dollar Gains from Memecoins Are Not Rare

This year has seen several traders making millions from memecoin investments. One trader, identified on-chain under the alias “sundayfunday.sol,” turned a $72,000 investment into a staggering $30 million in just three days by trading a little-known cryptocurrency.

Another patient trader recently turned around $8,600 into over $1.26 million after investing in a lesser-known cryptocurrency and holding it for two months, resulting in a 144x profit.

Quick Profits, but High Risks

Some trades have yielded profits within minutes. For example, one trader managed to turn 500 SOL, valued at approximately $67,000, into 5,789 SOL, worth more than $780,000, in just 15 minutes by cutting off a significant portion of the supply of a newly launched token.

However, trading memecoins comes with high risks. One Solana trader lost $37,000 while speculating on a memecoin, driven by emotional trading decisions. It’s worth noting that memecoins are extremely speculative and volatile. While stories of successful trades often surface, the failed trades tend to remain buried.

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