A trader earned $650,000 in 5 hours with an investment of $861 thanks to memcoin

The user increased his investment by 762 times in about five hours, turning $861 into $650,000 by trading MOTHER memcoin on the Solana network.

He spent 5.14 SOL ($861 at the time) to purchase 86.55 million MOTHER, which was 8.66% of the total token supply. About five hours later, the trader sold 80.41 million MOTHER for 3,035.5 SOL, which is valued at $509,000.

At the time of writing, he still has 6.14 million MOTHER left, worth about $148,000.

Lookonchain noted that the trader is most likely not an insider, since before purchasing the MOTHER token, he traded almost 700 coins and suffered losses. His percentage of winning trades was less than 25%.