Trader Turns $296 Into $620,000 in Four Hours With This Memecoin

A crypto trader hit it big after investing just $296 in a newly launched memecoin and turning it into $620,000 in just four hours.

The opportunity came from memecoin SLOP. According to analytics platform Lookonchain, the trader used 1.76 Solana (SOL) to buy 38.17 million SLOP tokens on the Raydium platform

When SLOP surged, he sold some of it, collecting 2,412 SOL (equivalent to $405,000) and keeping 8.39 million SLOP, worth $215,000 in his wallet

The trader entered more than 150 memecoin trades with a 21.19% win rate, and the profits from SLOP helped him recover his previous losses.

The growth behind SLOP is largely due to its unique creation. Created by an artificial intelligence named Namshub, SLOP was inspired by other popular memecoins like Goatseus Maximus and viral art

This year, many traders have made millions from memecoins.

For example, a trader with the nickname “sundayfunday.sol” turned $72,000 into $30 million in just three days.

Another turned $8,600 into $1.26 million after holding a little-known coin for two months.

However, there have been big losses as well. A trader on Solana lost $37,000 speculating on memecoins.

It’s worth noting that memecoins are highly speculative and volatile, and failed trades are often not reported.