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Trader Nets $1.49 Million from Meme Coin Trading in Two Days

source-logo  blockchainreporter.net 21 April 2024 06:43, UTC

A trader generated a profit of $1.49 million by trading meme coins over just two days, March 16 and 17. This remarkable financial gain was realized through trading seven different meme coins, all resulting in profitable outcomes. The trader earned a total of 8,282.8 Solana (SOL), equivalent to approximately $1.49 million.

Not an insider, this trader made $1.49M by trading #MEMEcoin in just 2 days!😱

He traded 7 #MEMEcoins on Mar 16 and Mar 17, all of which were profitable, with a total profit of 8,282.8 $SOL($1.49M)!

We scanned all his transactions, let’s see how he did it.👇
In the beginning,… pic.twitter.com/MSbXZTwMH4

— Lookonchain (@lookonchain) April 20, 2024

The trader’s success story began with humble beginnings, as their initial attempts at trading meme coins were largely unsuccessful. The first ten coins they traded resulted in losses on six, with a modest win rate of only 40%. However, displaying determination and adaptability, the trader gradually honed their strategy over two weeks.

Interest in Solana

Following this period of refinement, the trader shifted their approach, significantly increasing their investment amounts. They began to invest over 500 SOL in individual tokens confidently, and in some instances, their investment exceeded 1,000 SOL. This bold strategy paid off spectacularly in their last two days of trading, from which they derived 96.5% of their total profits.

Overall, the trader has engaged in transactions involving 35 different tokens, achieving profitability on 25 of these. This success translates to an impressive win rate of 71.43% and culminated in a total profit of 8,582.6 SOL (approximately $1.54 million).