Memecoin Inspired by Mbappé Yields 4,000% Profit for Trader
The fortunes of memecoins and tokens have once again taken a dramatic turn, yielding vastly different results from the same token. Two traders placed their bets on MBAPPE, a token inspired by French soccer star Kylian Mbappé. One trader saw returns of 4,330%, while the other suffered a massive loss of $1 million.
The successful trader invested $29 in the then-unknown memecoin and managed to turn that investment into $125,000 thanks to the token's surge. Conversely, the other investor lost $1 million after falling victim to a rug pull scam involving the same token.
4,330% Profit with MBAPPE Token
According to data platform Lookonchain, the MBAPPE token was launched this week. One trader purchased $29 worth of the token shortly after its launch. This trader timed their investment perfectly, as the token's value surged immediately post-launch.
Proving the good timing, the trader sold their investment and realized a 4,330% profit. Shortly after the sale, the MBAPPE value plummeted by over 70%.
Reports from Lookonchain indicate that the trader spent only 0.2 Solana (SOL), equivalent to $29, on the token and sold it three minutes later, receiving 866.13 SOL (around $125,100).
Additionally, the trader bought 251 other memecoins, investing amounts ranging from 0.1 to 0.3 SOL.
$1 Million Loss with MBAPPE
On the other hand, Lookonchain reported a negative outcome involving the MBAPPE token, where another investor lost nearly a million dollars. This trader purchased over 7,000 SOL worth of the token, equivalent to $1.03 million at current prices.
However, this trader did not have the same timing as the first. They bought the token just after its peak, and by the time of their purchase, the token's value had already dropped. An hour before the purchase, the trader's MBAPPE holdings had dwindled to less than $10,000, resulting in a loss of over 99%.
