Crypto Trader Turns $1,700 into $873,000 in Two Days Using Meme Coin

An anonymous crypto trader has transformed an initial investment of $1,795 into an impressive $873,000 within two days by trading the meme coin Comedian (BAN) on the Raydium platform. This substantial profit was made on the BAN/SOL trading pair and was tracked by the on-chain analysis tool Lookonchain.

The trader adopted a calculated approach by selling portions of their holdings during price peaks. Initially, they sold 12 million BAN for $56,900, followed by a second sale of 6.13 million BAN for $80,700 as prices surged again. This strategy allowed them to secure over $137,000 before BAN’s price climbed further, boosting the value of their remaining holdings to a total of $873,000.

The surge in BAN's price is linked to a renewed interest in the “Comedian” artwork, a banana taped to a wall, which sparked widespread social media debate on consumerism and art. A recent announcement by Sotheby’s to resell a version of the artwork has contributed to increased interest in the BAN meme coin, as has its new listing on the Poloniex exchange.

However, with multiple new tokens named “Comedian” appearing on various networks, including Ethereum, the risk of fraudulent schemes has risen. Investors are advised to stay vigilant against potential scams or “rug pulls,” which are common in the meme coin market, known for its high volatility.