What will be mentioned below in this article does not happen often and usually there are internal leaks from the project team, sheer luck or hidden information that is known to a few whales.
Recently, a trader managed to make a profit of more than $1.5 million from his investment in the meme coin called (MEW
) .
Last July, this trader bought 416.8 million MEW worth $2.42 million.
A few months later, he sold his holdings for 16,270 SOL, equivalent to $3.94 million, netting a profit of $1.52 million, according to Lookonchain data.
MEW, which launched in March 2023 at $0.003, had seen a 200% increase to $0.009 by the time this trader sold.
The deal elicited mixed reactions, with some considering the sale a smart move, while others felt the trader could have waited for a bigger rally given the market's bullish momentum.
Similarly, another trader showed similar skill in taking advantage of meme coins, investing just $158 in CHILLGUY and then making good returns. CHILLGUY started trading in November at $0.007 and quickly rose to $0.45.
warning:
Despite the potential huge profits behind meme coins, these investments carry significant risks due to their reliance on temporary trends and weak intrinsic value.
Investors are advised to enter the market with caution, only invest amounts they can afford to lose, and conduct careful research before making any investment decisions.