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Trader Turns $ 960 into $ 2.6 Million by Betting on a Memecoin at the Last Minute

A cryptocurrency trader made an extraordinary 2,580x return by investing in an obscure memecoin called $Mundi during its early stages. Starting with just one Solana (SOL), worth approximately $ 960 (US$ 189) at the time, the trader managed to turn this into a staggering profit of $ 2.6 million.

Initially, the trader planned to invest in another lesser-known token, $Banano ($BAN). However, a last-minute decision led him to pivot to $Mundi—a move that proved to be incredibly lucrative.
Strategic Timing and Unprecedented Gains

According to blockchain analytics firm Lookonchain, the trader's wallet, identified as Chbk…YSMQ, purchased 19.79 million $Mundi tokens in October 2024. At the time, $Mundi was at an embryonic stage with a market cap of just US$ 8,500, in stark contrast to $BAN, which had already reached US$ 60 million in market capitalization.

Instead of succumbing to FOMO (Fear of Missing Out) over $BAN, the trader decided to take a calculated risk with $Mundi. This bold move paid off when the value of $Mundi skyrocketed. Over the past few days, the trader sold 18.19 million $Mundi tokens for 1,428 SOL (US$ 336,900) while retaining 1.6 million tokens still valued at US$ 99,000.

A Market Defined by Risk and Reward

Launched on October 25, $Mundi's meteoric rise echoes the volatile nature of memecoins—a niche segment of cryptocurrencies inspired by viral internet memes. These tokens, including well-known examples like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepecoin (PEPE), often experience massive price swings. While some traders achieve millionaire status overnight, others face the risk of their investments plummeting to zero within hours.
The Broader Appeal of Memecoins
Despite their volatility, memecoins continue to captivate the crypto community with stories of astronomical gains.

#MemeWatch2024 #CryptoMarketMoves