A cryptocurrency trader has sparked a discussion after making a tidy profit by trading the new Solana meme coin. The trader reportedly made $2.42 million on an investment of $727 in just four days. Since its launch, the new meme coin Goatseus Maximus (GOAT) has garnered a lot of attention from cryptocurrency market enthusiasts, as evidenced by its recent surge in price.

Crypto Trader Makes 3,329% Gain on Solana Meme Coin

According to a recent report from Lookonchain, a leading on-chain transaction tracking platform, a cryptocurrency trader recently made a sizable profit. The trader initially invested 5 SOL (worth $727) to purchase 15.15 million GOAT tokens. In just four days, the value of the Solana meme coin surged, bringing his gains to 3,329% of his initial outlay.

Solscan reports that in just a few hours today, the trader sold 5.7 million GOAT tokens for 5,949 SOL, worth about $931,000. In addition, after the sale, he still holds 9.45 million GOAT tokens, currently worth $1.49 million.

Meanwhile, such a huge increase in a short period of time has sparked discussions in the cryptocurrency market. In addition, it also highlights the high-risk and high-reward nature of cryptocurrencies, especially in the top meme coin trading.

That being said, many in the crypto market appear to be moving towards the memecoin space, as evidenced by the performance of top players. Still, some analysts have sounded a note of caution due to the high volatility of these assets.

Artificial Intelligence Rumors Drive GOAT Price Surge 30%

GOAT’s price has increased by 30% today and is trading at $0.1278, while its daily trading volume is $72.37 million. The cryptocurrency has a market cap of $127.25 million and has a 24-hour high of $0.1765 and a low of $0.09728, indicating high volatility in trading.

Meanwhile, the Solana meme coin has also gained attention after rumors circulated on social media that it was issued by an AI bot called “Truth Terminal,” a bot backed by Andreesen Horrowitz.

However, Andy Ayrey, the creator of Truth Terminal, refuted these claims and said that the bot was used to promote the token. He clarified that the AI ​​bot was not directly involved in the launch of the GOAT token.

Still, interest in meme coins appears to remain high, as seen in recent gains. However, given the historical volatility in the meme coin space, investors should proceed with caution.

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