Crypto Trader Earns $2.5 Million from Meme Tokens in One Day ♨️
A recent market correction has driven down the prices of major cryptocurrencies, pushing traders toward meme coins. This strategy proved lucrative for one crypto trader who made substantial profits, generating buzz around these tokens.
The trader invested 15.8 SOL (about $2,558) to purchase 36.77 million RNT tokens. He sold 606,000 RNT for 165 SOL (around $26,800), retaining 36.17 million RNT worth approximately $2.4 million.
According to Lookonchain, on June 7, a successful trader created a new crypto wallet and traded 12 meme coins, profiting in 83% of the transactions. The trader acquired assets like RNT, TOPG, TATESOL, and others, as the meme coin frenzy, particularly those based on Solana, gained momentum.
#### Meme Coin Craze and Market Correction
Last month, another trader made $657,000 in a few hours by investing $800 in the Mother Iggy (MOTHER) token. The crypto asset experienced significant price increases after the market correction, which saw declines in both meme coins and leading crypto assets.
The total market capitalization of meme coins is $57.7 billion, up by 0.19% in the last 24 hours, with trading volumes just over $5.5 billion. Santiment data indicates that major assets like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) faced losses, while some tokens saw minor inflows.
While the success story above is exceptional, trading tokens without strong fundamentals generally involves significant risks.
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