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2024 has almost become the "year of meme coins," with such tokens delivering substantial profits to investors. Recently, a user made nearly $10 million in just two weeks by investing in Moodeng, one of the most talked-about meme coins.
According to the on-chain platform Lookonchain, an individual purchased 6 Solana and 30 million Moodeng for around $815. In just 17 days, the value of these tokens skyrocketed, yielding an astonishing 11,534x return. The tokens, likely held by someone from the project, are now worth about $9.4 million.
Additionally, Lookonchain reported another investor bought $310,000 worth of Moodeng yesterday, spending 2000 Solana. This individual is now the second-largest holder of the meme token, with a current Moodeng value of $4.3 million.
