An Ether trader who invested $8,300 in a frog-themed memecoin a month ago is now 750 times richer as the token’s price soared.
On April 11, the price of Apu Apustaja (APU) skyrocketed, pushing its market capitalization to nearly $200 million.
Blockchain analytics firm Lookonchain identified a trader who invested in APU a month before its price surge. The trader accumulated around eight billion APU tokens in four transactions on March 11, adding another 300 million tokens in subsequent purchases.
With a total investment of 2.38 ETH (approximately $8,300), the trader saw their investment grow exponentially as APU’s price reached $0.0007907 on April 11, valuing the tokens at about $6.5 million.
On April 12, the trader transferred the funds to a different crypto wallet, possibly indicating a move or a decision to sell the tokens through peer-to-peer transactions.
While some traders opt to hold onto their investments, others cash out quickly, potentially missing out on significant gains. Community members speculate on the motives behind such transactions, with some praising the trader’s patience and others suggesting developer involvement.
Instances of traders missing out on potential gains, like selling Book of Meme (BOME) tokens before a price surge, highlight the volatility of meme coins. Conversely, others, like a trader who turned $13,000 into $2 million in an hour with Donotfomoew (MOEW), capitalize on the frenzy surrounding meme coin launches on decentralized exchanges.
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