Whale Earns 59.57 Million USD from MELANIA: Huge Profits but High Risks
A whale wallet has generated an astonishing profit of up to 59.57 million USD from the memecoin MELANIA, but this story also serves as a reminder of the high risks in the memecoin market.
Bold Investment Strategy
Just two minutes after MELANIA launched, this wallet address used 2,500 SOL (equivalent to 680,000 USD) to buy 5.203 million MELANIA at just 0.13 USD per token.
As the price of MELANIA skyrocketed, this whale gradually sold off its holdings. They have now sold 2.703 million MELANIA, bringing in a total of 30.4 million USD at an average price of 11.25 USD/token.
The remaining 2.5 million MELANIA, equivalent to 29.85 million USD, still sits in the wallet. Thus, the total profit (including both realized and unrealized) reaches 59.57 million USD, more than 87 times the initial investment.
Risks of Memecoins
Despite the attractive profits, trading memecoins like MELANIA always comes with significant risks. The prices of memecoins can be highly volatile, rising rapidly but also dropping sharply within minutes. Latecomers to the market are vulnerable to being victims of profit-taking by large investors.
Advice for Investors
If participating in memecoins, always consider carefully, only use capital that can withstand risks, and closely monitor the market. MELANIA may provide great opportunities, but it also carries the risk of total loss.
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