Solana Trader Turns $10K into $400K In 10 Minutes With Meme Coin Magic

A cryptocurrency trader recently hit the jackpot by transforming $10,000 of Solana’s SOL tokens into nearly $400,000 in 10 minutes. This incredible gain of 3,900% happened through trading a little-known cryptocurrency on the Solana blockchain.

According to data from the on-chain analysis service Lookonchain, the trader spent 60 SOL (around $9,900) to purchase 89.18 million $HAPPY tokens. These tokens were launched by a pseudonymous crypto user named Bazingahappy, who spent 85 SOL (approximately $14,000) to acquire 793 million tokens or 79.3% of the total supply.

Notably, bazingahappy denied involvement with the trader who turned $10,000 into nearly $400,000 in such a short time. They responded to Lookonchain’s post, suggesting the service was confusing people.

As reported earlier, some astute traders (or gamblers) have capitalized on the meteoric rise of Solana (SOL)–based meme coins, realizing astronomical gains. For example, data showed one trader purchased a substantial amount of Dogwifhat (WIF) in December 2023 and has since seen a staggering 118,967% return on their investment.

Success with Trump-Inspired Meme Coins on Solana

Another trader found success with MAGA (TRUMP), a meme coin inspired by former U.S. President Donald Trump, who is campaigning for the presidency again. Yet another trader made millions with Jeo Boden (BODEN).

Shortly after former U.S. President Donald J. Trump was convicted on 34 felony counts for falsifying business records involving reimbursements to his former lawyer, Michael Cohen, for hush money payments, several Trump-inspired meme-inspired cryptocurrencies were launched. One trader made over $160,000 in just 5 hours from them.

These success stories highlight the potential for significant gains in the volatile world of cryptocurrency trading, particularly with meme coins built on the Solana blockchain. However, it is crucial to remember that such astronomical returns are not the norm, and investing in meme coins carries high risk. As with any investment, thorough research, caution, and never investing more than one can afford to lose are essential.

Related Reading | Cardano Creator Reassures Community On Funds For Ambitious Scaling Plans

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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